2016 Ri<span id="more-3436"></span>o Summer Olympics Wrap Up, Nevada Sports Betting Does Not Medal

The controversial 2016 Rio Summer Olympics are officially in the publications, but the recreations books in Nevada had little interest in their result. For the time that is first the Sydney Games in 2000, sports betting was permitted in the Silver State with 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 one medal that is bronze carried a flag during the closing ceremonies. But Nevada sports books had little to wave a flag about by the end of the time.

Action was slower than slow, according to those who just take wagers in vegas’ biggest casinos. Perhaps some of the lesser known events just didn’t jibe with the typical American sports bettor. From badminton and canoe slalom, to rhythmic gymnastics and swimming that is synchronized Las Vegas sports books lined up the odds, but few took them.

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

The disappointing, yet not completely unanticipated Olympics for Nevada gambling enterprises might trigger less passion for the 2018 Winter Olympics in South Korea because well. It had been no effortless feat for oddsmakers to get ready lines on a host of athletic disciplines most were utterly new to.

Big Bets, Little Pay

Also the casual sports fan understands the name Michael Phelps, therefore the most decorated Olympian ever lived up to their hype. Phelps won five of this 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 into the butterfly that is 100m 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 800m freestyle. Those looking to benefit off Ledecky’s dominance needed to wager a staggering $25,000 to win simply $100.

As crazy as that sounds, it in fact 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 men and women also wowed bookies in Nevada. The guys had been -2500 favorites and the women were listed at -1400. Both won their tournaments.

Overall, Team USA won the greatest medal count of all of the participants with 121 total gold, silver, and bronze. Asia put second with 70, and Great Britain 3rd at 67.

Host nation Brazil won 19 total medals, and garnered plenty of criticism as well. Inadequate housing, contaminated water, crime, and final but 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 first days that are few. But Lochte’s actions overshadowed a lot of the last few days of the Games, in what athletes that are many have considered a cloud over their moment in the sunlight.

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

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

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

The International Olympic Committee (IOC) will more than likely not be rushing right back up to a developing country anytime soon again, but nonetheless, left the nation on a note that is positive.

‘We found its way to Brazil as guests. Today we depart as your friends,’ IOC President Thomas Back said during the closing ceremony.

New York Assemblyman Pretlow to Push for Legal Sport Betting

Assemblyman Gary Pretlow wants activities gambling for brand New York but admits you will find significant legal problems in his way. (Image: Jefferson Siegel/New York Daily News)

New York Assemblyman Gary Pretlow wants to bring legal sports betting to Ny State. Pretlow was instrumental in orchestrating the regulation of day-to-day fantasy recreations in New York and views no good reason to give up while he’s on a roll.

Pretlow told the Democrat Chronicle this week that, like New Jersey in recent years, he desired to test opposition that is federal sports betting, and much more specifically PASPA, the pro and recreational Sports Protection Act 1992, which

‘I’m considering this year putting in legislation just like nj-new jersey’s legislation, and hopefully it gets to court into the Second Circuit, and hopefully we get yourself a opinion that is different’ he said. ‘we am a believer in legalizing sports gambling.’

Concern About ‘Vice Bills’

But first a legislative push would have to convince both chambers that appropriate sports wagering is the right thing for New York, at any given time once the state is cautious about passing more alleged ‘vice bills,’ following a legalization of casino gaming, MMA and now DFS. The question of legalizing sports wagering would additionally most likely need an amendment towards the continuing state constitution by public referendum.

‘ Any conversation of legalizing sports gambling in NY is premature at this point,’ Pretlow conceded. ‘There are significant legal problems to consider before undertaking this undertaking.’

It’s difficult to see how nyc could succeed in the courts that are federal where nj-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 https://myfreepokies.com/pelican-pete/ that it would be a violation of PASPA month.

PASPA ‘Not Fair’

‘It’s not reasonable that only one state is allowed to lawfully simply take sports wagers,’ Pretlow said, inaccurately.

While Nevada is the state that is only offers full-scale recreations gambling, Oregon, Delaware and Montana are also legally allowed to do so, having being exempted by PASPA because they had currently legalized ahead of the passage regarding the bill in 1992. Delaware offers limited recreations betting at its racetracks, while Oregon and Montana simply choose not to ever.

The American Gaming Association, which advocates for the legalization and licensing of sports betting, has said that 80 % of Super Bowl viewers are in favor of 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. ‘Americans spend an approximated $150 billion a year wagering on sports, only 3 percent of it legally.’

Glenn Straub Threatens to Abandon Revel Atlantic City

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

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

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

Straub has performed renovations regarding the $2.4 billion shuttered property to include a ropes and 13-floor cycling program.

The changes required new traffic-flow allows through the CRDA, nevertheless the governing organization says it takes more information. The CRDA has also dragged its legs in approving a casino permit for Revel, even though Straub has hired a gambling operator to manage the facility’s gaming.

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

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

Straub stated he’s got ‘other things you can do’ then wait on New Jersey and Atlantic City officials.

Straub’s Bluff?

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

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

Just four months ago, Straub told Forbes, ‘Atlantic City is really a place that is perfect put money. It’s going to increase 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 open on June 15 as a hotel-only facility featuring the recreational activities, unattained permits have kept the lights dark at Revel.

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

‘ I do not 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 10, only seven casinos will remain in Atlantic City october. The city’s casinos all pay 1.25 percent of gross gaming revenues to fund the CRDA.

The CRDA must follow a series of regulations and licensing procedures, nevertheless the policies are most certainly not making it simple for Straub to bring back Revel.

In place of doing everything in its power to expedite the procedure, the CRDA appears to be focused on non-gaming activity.

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

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

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

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

When best-known due to the fact place to opt for crazy bathtubs that are adult-themed the Pennsylvania Pocono Mountains’ Mount Airy area has very long found gaming, and along with it, a tax fight. (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 decades back, the working-class resort area marketed the decidedly unique and memorable tubs to couples who wanted some entirely adult playtime.

But now, one casino in what is now referred 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 gambling enterprises to pay $10 million annually to its host town 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 by which they are located. The kicker is that the two percent must equal at minimum $10 million, otherwise the casino is on the hook to make up the distinction.

But none of Pennsylvania’s twelve casinos even came close to grossing $500 million from slots a year ago, meaning all had to write additional taxation checks.

Sheldon Adelson’s Sands Bethlehem is the casino that is largest, in terms of 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’ true tax payment ended up being about $5.7 million. Meaning Adelson’s gaming business ended up being forced to pay the $4.3 million difference.

For Mount Airy, the huge difference had been even more substantial. The northeast Pennsylvania casino pulled in simply $139.1 million in terminal income, meaning its two payment that is percent $2.78 million, with $7.22 million tacked on.

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