2016 Rio Summer Olympics Summary, Nevada Sports Betting Doesn’t Medal

2016 Ri<span id="more-12965"></span>o Summer Olympics Summary, Nevada Sports Betting Doesn’t Medal

The controversial 2016 Rio Summer Olympics are officially in the books, but the sports publications in Nevada had little interest in their result. For the first time since the Sydney Games in 2000, sports betting was permitted in the Silver State for this year’s 16 days of competition, but apparently, bettors were less than excited about their options.

American gymnast Simone Biles, who took home four gold and something bronze medal, carried a flag during the closing ceremonies. But Nevada sports books had little to wave a flag about at the conclusion of the day.

Action was slower than sluggish, according to those who simply take wagers in Las Vegas’ biggest casinos. Perhaps a number of the lesser known events simply don’t jibe with the conventional American sports bettor. From badminton and canoe slalom, to rhythmic gymnastics and swimming that is synchronized Vegas activities books lined up the odds, but few took them.

‘We most likely have taken about as much in Olympic wagers as we’d on a baseball that is big, regular season,’ Mirage oddsmaker Jay Rood stated this thirty days.

The disappointing, yet not olympics that are totally unexpected Nevada gambling enterprises might lead to less enthusiasm for the 2018 Winter Olympics in South Korea because well. It was no easy feat for oddsmakers to prepare lines for a host of athletic disciplines most were utterly unfamiliar with.

Big Bets, Little Pay

Also the casual sports fan understands the name Michael Phelps, as well as the most decorated Olympian ever lived up to their hype. Phelps won five for the six events he competed in and departed his final Olympics with a total of 23 silver medals.

And for bettors in the Silver State, the lines on Phelps were nearly off the chart.

At Bovada, Phelps was a -300 favorite within the 100m butterfly, and his 4x200m freestyle relay group required a $700 bet to win $100.

But it was fellow US swimmer Katie Ledecky who got the most respect in the pool with the freestyle myfreepokies.com that is 800m. Those seeking to benefit off Ledecky’s dominance needed to wager a staggering $25,000 to win simply $100.

As crazy as that noises, it was a bet that is good as Ledecky cruised to a world-record time and beat the silver medalist by nearly 12 moments.

Team USA basketball gents and ladies also wowed bookies in Nevada. The guys had been -2500 favorites and the women had been listed at -1400. Both won their tournaments.

Overall, Team USA won the medal count that is highest of all of the participants with 121 total gold, silver, and bronze. Asia put second with 70, and Great Britain third at 67.

Host country Brazil won 19 total medals, and garnered plenty of criticism as well. Inadequate housing, contaminated water, crime, and final but certainly not least, Zika, all plagued the lead-up to the competition.

Lochte and Loaded

The games were certainly not without scandal before US swimmer Ryan Lochte took center phase, with incidents of rape and robbery being reported in the 1st few days alone. But Lochte’s actions overshadowed much of the last few days of the Games, in what many athletes might have considered a cloud over their moment in sunlight.

In what would later be a fable concocted by the 12-time medal winner, Lochte’s tale about being robbed at gunpoint almost entirely took over the last times of the Olympics.

‘I over-exaggerated that story,’ Lochte told NBC within the week-end. ‘They put on a great games. . . [but] my behavior that is immature tarnished a little, and I also don’t wish that.’

Their mea culpas could have come too late, nonetheless. Speedo terminated its sponsorship on Monday, amid Lochte’s late-out-of-the-gate admission which he had way too much to drink that night making decisions that are bad from it. It’s unclear whether his other backers, including Gillette, Gatorade, and AT&T, can do the exact same.

The International Olympic Committee (IOC) will probably never be rushing straight back to a developing country anytime soon again, but nonetheless, left the country on a good note.

‘We arrived in Brazil as guests. We depart as your friends,’ IOC President Thomas Back said during the closing ceremony today.

New York Assemblyman Pretlow to Drive for Legal Sport Betting

Assemblyman Gary Pretlow wants recreations wagering for New York but admits you will find significant legal dilemmas in his way. (Image: Jefferson Siegel/New York Daily Information)

New York Assemblyman Gary Pretlow wants to bring sports that are legal to New York State. Pretlow was instrumental in orchestrating the regulation of daily fantasy activities in New York and views no reason to stop while he’s for a roll.

Pretlow told the Democrat Chronicle this week that, like brand New Jersey in recent years, he wished to test opposition that is federal sports betting, and much more especially PASPA, the Professional and Amateur Sports Protection Act 1992, which

‘I’m considering this season putting in legislation much like New Jersey’s legislation, and hopefully it gets to court into the Second Circuit, and hopefully we get yourself a different opinion,’ he said. ‘we am a believer in legalizing sports betting.’

Concern About ‘Vice Bills’

But first a push that is legislative have to persuade both chambers that appropriate recreations betting is the right thing for New York, at the same time when the state is cautious about passing more so-called ‘vice bills,’ after the legalization of casino gaming, MMA now DFS. The question of legalizing sports wagering would additionally most likely need an amendment towards the continuing state constitution by public referendum.

‘ Any discussion of legalizing sports betting in NY is premature as of this point,’ Pretlow conceded. ‘There are significant appropriate issues to think about before undertaking this endeavor.’

It’s difficult to see how nyc could succeed in the courts that are federal where New Jersey has failed at every turn. Earlier in the day this the United States Court of Appeals for the Third Circuit blocked New Jersey’s attempt to offer sports betting at its casinos and racetracks once again, ruling that it would be a violation of PASPA month.

PASPA ‘Not Fair’

‘It’s not fair that only one state is permitted to legitimately simply take recreations wagers,’ Pretlow said, inaccurately.

While Nevada is the state that is only offers full-scale activities betting, Oregon, Delaware and Montana are also lawfully allowed to take action, having being exempted by PASPA because they had currently legalized before the passage regarding the bill in 1992. Delaware offers limited activities betting at its racetracks, while Oregon and Montana simply choose not to.

The American Gaming Association, which advocates for the legalization and certification of sports betting, has said that 80 per cent of Super Bowl viewers are and only regulation, while 65 percent believe regulated sports betting will either strengthen the integrity of games or have no impact on game outcomes.

‘This law [PASPA] has failed miserably,’ said AGA Chairman Geoff Freeman recently. ‘People in america spend an estimated $150 billion a year betting on sports, just 3 percent from it legitimately.’

Glenn Straub Threatens to Abandon Revel Atlantic City

Revel Atlantic City owner Glenn Straub states time is operating down for local officials to accept their hotel and casino permits, otherwise he’s prepared to abandon ship. (Image: Jacqueline Urgo/Philadelphia Inquirer)

Developer Glenn Straub says he’s considering abandoning his resurrection plans for Revel Atlantic City unless local officials in New Jersey change their ways that are governing.

The Florida-based real estate millionaire had been once again before nj’s Casino Reinvestment Development Authority (CRDA) last week. Straub is looking for a permit to operate the resort.

Straub has performed renovations on the $2.4 billion shuttered property to include a ropes and cycling course that is 13-floor.

The changes required new traffic-flow allows from the CRDA, nevertheless the governing organization claims it needs information that is additional. The CRDA has also dragged its legs in approving a casino permit for Revel, despite the fact that Straub has hired a gambling operator to manage the facility’s gaming.

The CRDA argues Straub’s business, Polo North nation Club Inc., hasn’t filed the appropriate paperwork.

‘I can’t think just how much bureaucracy here is in this state. This is just what nj-new Jersey is well known for,’ Straub opined to reporters during a break. ‘This state stinks.’

Straub said he’s got ‘other things to do’ then wait on New Jersey and Atlantic City officials.

Straub’s Bluff?

Straub seemed resolute in professing his willingness to abandon Revel in its entirety, but that would mean quitting on his $82 million investment he paid in 2015 to find the resort that is bankrupt. However, that’s amount change set alongside the $500 million Straub initially devoted to the venue that first opened in 2012.

His plans of converting the resort into a ‘recreation-based facility along with casinos’ have hit one roadblock after another.

Just four months ago, Straub told Forbes, ‘Atlantic City is just a perfect place to put money. It’s going to multiply ten times what it’s now worth.’

Straub and billionaire Carl Icahn both pledged to revitalize the gaming coastline town. Icahn changed his mind this month by announcing the closure of his Trump Taj Mahal.

Originally scheduled to start on June 15 as a facility that is hotel-only the recreational activities, unattained permits have kept the lights dark at Revel.

Straub is now intending for an opening, but his patience is wearing thin october.

‘ I don’t have enough time become screwing with this stuff,’ Straub declared. ‘This is 10 times worse than what it would be anyplace else.’

Then There Were Seven

When the Trump Taj Mahal closes on October 10, only seven casinos will remain in Atlantic City. The town’s casinos all pay 1.25 percent of gross gaming revenues to finance the CRDA.

The CRDA must follow a series of regulations and licensing procedures, but the policies are most certainly not making it possible for Straub to create straight back Revel.

As opposed to doing everything in its power to expedite the process, the CRDA seems to be focused on non-gaming activity.

At its meeting a week ago, the agency approved two measures that have nothing to do utilizing the casino market.

The agency agreed to sponsor a summer that is fifth concert with Live Nation, and additionally agreed to spend $150,000 regarding the Garden State Film Festival over the next two years.

‘ The CRDA continues its mission to attract events and visitors to the city,’ CRDA Executive Director John Palmieri said in a press release.

Unfortunately, at least for now, the CRDA isn’t attracting a half of the investor that is billion-dollar Straub.

Mount Airy Casino Challenges Pennsylvania’s $10 Million Annual Host Tax

Once best-known because the place to go for crazy bathtubs that are adult-themed the Pennsylvania Pocono Mountains’ Mount Airy region has long found video gaming, and along with it, a tax battle. (Image: usatoday.com)

For many folks over 40, say ‘Mount Airy in the Poconos,’ and images of eight-foot-tall champagne bubble bath and tubs that are heart-shaped jump in your thoughts. A few years right back, the working-class resort area marketed the decidedly unique and memorable tubs to couples who desired some playtime that is entirely adult.

But now, one casino in what is now introduced to as the Pocono Mountains is doing something distinctly unromantic: fighting for its very own money.

Mount Airy Casino Resort is asking the Pennsylvania Supreme Court to annul state gambling legislation that requires casinos to pay ten dollars million annually to its host city or town.

Senate Bill 862, passed and signed into law back in 2006, mandates that casinos pay two percent of gross slots revenue to the township in which they truly are located. The kicker is that the two percent must equal at minimum $10 million, otherwise the casino is regarding the hook to make up the huge difference.

But none of Pennsylvania’s twelve casinos also came near to grossing $500 million from slots year that is last meaning all had to compose extra taxation checks.

Sheldon Adelson’s Sands Bethlehem is the largest casino, with regards to pure revenue, in Pennsylvania. The Las Vegas Sands property generated $288.9 million in gross terminal revenue during the last fiscal year.

At two percent, Sands’ real tax payment had been about $5.7 million. Meaning Adelson’s gaming company was forced to pay the $4.3 million difference.

The difference was even more substantial for Mount Airy. The northeast Pennsylvania casino pulled in just $139.1 million in terminal income, meaning its two percent payment ended up being $2.78 million, with $7.22 million tacked on.

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