2016 Ri<span id="more-4740"></span>o Summer Olympics Summary, Nevada Sports Betting Doesn’t Medal

The controversial 2016 Rio Summer Olympics are officially in the publications, but the sports books in Nevada had interest that is little 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 evidently, bettors were less than excited about their options.

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

Action was slower than slow, according to those who just take wagers in Las Vegas’ biggest gambling enterprises. Perhaps a number of the lesser known events simply did not jibe with the typical 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 probably have actually 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 casinos might lead to less enthusiasm for the 2018 Winter Olympics in South Korea since well. It ended myfreepokies.com up being no easy feat for oddsmakers to get ready lines on a host of athletic disciplines most had been utterly new to.

Big Bets, Little Pay

Even the casual sports fan understands the name Michael Phelps, plus the most decorated Olympian ever lived up to his hype. Phelps won five regarding the six events he competed in and departed his olympics that are final a total of 23 silver medals.

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

At Bovada, Phelps was a -300 favorite in the butterfly that is 100m and his 4x200m freestyle relay team 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 trying to benefit off Ledecky’s dominance needed to wager a staggering $25,000 to win simply $100.

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

Team USA basketball women and men also wowed bookies in Nevada. The men 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 most participants with 121 total gold, silver, and bronze. China 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 had been most certainly not without scandal before US swimmer Ryan Lochte took center stage, 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 sunlight.

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

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

Their mea culpas may too have come 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 bad choices because of it. It’s unclear whether his other backers, including Gillette, Gatorade, and AT&T, can do the same.

The International Olympic Committee (IOC) will likely not be rushing straight back to a developing country anytime soon again, but nevertheless, left the united states on a note that is positive.

‘We arrived in 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 wagering for New York but admits you will find significant issues that are legal his way. (Image: Jefferson Siegel/New York Daily News)

New York Assemblyman Gary Pretlow wants to create legal activities gambling to New York State. Pretlow was instrumental in orchestrating the regulation of daily dream recreations in New York and views no 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 wished to test opposition that is federal sports wagering, and much more specifically PASPA, the expert and Amateur Sports Protection Act 1992, which

‘I’m considering in 2010 putting in legislation just like nj-new jersey’s legislation, and hopefully it gets to court within the Second Circuit, and hopefully we get yourself a opinion that is different’ he said. ‘we am a believer in legalizing recreations gambling.’

Concern About ‘Vice Bills’

But first a legislative push would have to persuade both chambers that legal activities betting could be the right thing for New York, at any given time as soon as the state is cautious about passing more alleged ‘vice bills,’ following legalization of casino gaming, MMA and now DFS. The question of legalizing sports betting would also most likely require an amendment to the state constitution by public referendum.

‘ Any conversation of legalizing sports gambling in NY is premature at this point,’ Pretlow conceded. ‘There are significant issues that are legal think about before undertaking this endeavor.’

It’s difficult to see how New York could succeed in the courts that are federal where nj has failed at every turn. Previously 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 reasonable that only one state is permitted to lawfully simply take activities bets,’ Pretlow said, inaccurately.

While Nevada is the state that is only offers full-scale sports wagering, Oregon, Delaware and Montana are also lawfully permitted to do so, having being exempted by PASPA because they had currently legalized prior to the passage for the bill in 1992. Delaware offers restricted recreations 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 people are and only regulation, while 65 percent trust 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 a projected $150 billion a year gambling on sports, only 3 percent from it legally.’

Glenn Straub Threatens to Abandon Revel Atlantic City

Revel Atlantic City owner Glenn Straub says time is running out for local officials to accept their hotel and casino permits, otherwise he’s ready 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 governing ways.

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

Straub has performed renovations regarding the $2.4 billion shuttered home to add a ropes and 13-floor cycling course.

The changes needed brand new traffic-flow permits through the CRDA, however the governing organization claims it takes information that is additional. The CRDA has also dragged its feet in approving a casino permit for Revel, even though Straub has hired a gambling operator to handle the facility’s gaming.

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

‘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 you can 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 stopping on his $82 million investment he paid in 2015 to acquire the resort that is bankrupt. However, that’s amount change compared to the $500 million Straub initially committed to the place 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 a place that is perfect 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 by announcing the closure of his Trump Taj Mahal month.

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 A october opening, but his patience is using slim.

‘ I do not have enough time to be screwing with this stuff,’ Straub declared. ‘This is 10 times even worse than what it would be anyplace else.’

After Which There Were Seven

When the Trump Taj Mahal closes on October 10, only seven gambling enterprises 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 not making it easy for Straub to create right back Revel.

Rather than doing everything in its capacity to expedite the process, the CRDA appears to be dedicated to non-gaming activity.

The agency approved two measures that have nothing to do with the casino market at its meeting last week.

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

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

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

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

Once best-known whilst the place to go for crazy bathtubs that are adult-themed the Pennsylvania Pocono Mountains’ Mount Airy area has long discovered video 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 heart-shaped tubs immediately jump to mind. A few decades back, the working-class resort area marketed the decidedly unique and memorable tubs to couples who wanted some completely adult playtime.

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

Mount Airy Casino Resort is asking the Pennsylvania Supreme Court to annul a continuing state gambling regulation that requires casinos to spend $10 million annually to its host city or town.

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

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

Sheldon Adelson’s Sands Bethlehem is the biggest casino, when it comes to pure revenue, in Pennsylvania. During the last fiscal year, the vegas Sands property created $288.9 million in gross terminal revenue.

At two percent, Sands’ true 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.