Olympic Betting Approved In Nevada For 2016 Games

Olympic betting will get back to Las Vegas following a 15-year hiatus, a move likely to bring vast amounts in revenues to casinos and bookmakers.
Olympic betting in Nevada will get back for the 2016 Summer Games in Rio de Janeiro after the state’s Gaming Control Board unanimously approved an amendment within a special meeting last week.
The revision to its gaming regulations permits bookmakers to place gambling lines on any event that is athletic by the International Olympic Committee, with one stipulation being that A.G. Burnett, chairman of the video gaming board, gets the authority to eliminate any competition from gambling task.
Las Vegas sports books wasted virtually no time in publishing odds that are initial. Just mins after the board’s decision, William Hill US place Usain Bolt being a -200 favorite for the males’s 100m, additionally the US basketball team as a whopping favorite that is-320.
‘With more than two from every three Americans having watched the London Olympics in 2012, the games in Rio have the possible to create an impact that is sizable August of 2016, like we saw last June with the World Cup,’ William Hill CEO Joe Asher said. ‘We look ahead to continually expanding our menu that is olympic in next 18 months leading up to the games.’
Betting on Amateurs?
Senator John McCain (R-AZ) successfully led a ban in 2001 to prohibit all activities betting on amateur tournaments and events that are athletic. The majority of participants today are professional athletes with substantial sponsorship deals, regularly competing in national sporting leagues and federations although the Olympics began as a competition among amateurs.
After all, it’s really a argument that is tough defend Michael Phelps, Alex Morgan, LeBron James, Usain Bolt, Lolo Jones, and Lindsey Vonn as ‘amateur athletes.’
The ban has long troubled Las Vegas during the summer that is typically slow wagering months. With baseball being the only major sport in the united states in season, bookies are excited to really have the Olympics back in their arsenal for 2016.
‘ This is a thing that is good the industry and can help drive company during what sometimes could be a slow period for the books,’ CG Technology VP Quinton Singleton remarked.
Continued Growth
Sports wagering has been on the rise for each of days gone by 5 years with a record-setting $3.9 billion in bets in 2014, an increase of 7.7 % from 2013. The World Cup had an impact that is tremendous exceeded many forecasts. Interest in soccer, while typically lower in the United States than other countries, spiked likely due to its hosting in Brazil, a national country with time zones differing less than one hour from America.
The 2012 London Olympics was the most-watched television occasion in the history of the United States. More than 219 million Us citizens watched the games, and considering the time that is substantial, insiders believe the record will not last very long. Many watchers struggled watching ‘live’ casino-bonus-free-money.com events that have been taped hours earlier.
With only a five-hour time difference between Vegas and Rio, gambling activity will probably surge for the 2016 Olympics as Nevadans will be able to see the events in genuine time.
Getting a slice of the pie that is multibillion-dollar something chances manufacturers are excited to receive, as they missed down in 2012. ‘You’d have people coming over from the UK, where it ended up being appropriate to bet on the Olympics, and wondering why they couldn’t place a bet right here,’ Singleton stated.
New Gambling Overhaul Bill Presented In Florida
Republican leader Dana Young has introduced a bill that will permit two resort casinos in South Florida. (Image: floridapolitics.com)
Florida’s gambling industry has been around desperate need of an overhaul, as a mish-mash of various legislation and regulations have created an uncertain situation for operators and legislators alike.
Now, a new package of legislation from House Republican Leader Dana Young (R-Tampa) would seek to update gaming laws into the state in order to produce a method that everyone else in Florida can (hopefully) live with.
Major Resort Casinos Could Be Welcome in South Florida
Probably the biggest addition under Young’s legislation is the two destination resort casinos that could be allowed in South Florida. This will be something which major gaming companies, including Genting as well as the Las Vegas Sands, have been pushing for in a situation that currently only allows casino that is full to be offered by the Seminole Tribe of Florida. The resort that is new, however, could be needed to buy gaming permits from active operators such as for instance race tracks in order to build their facilities.
The bill would also give help to the pari-mutuel operators in Southern Florida. Puppy tracks would be allowed to use slots even when they do not continue to race dogs, an activity who has lost popularity and it is increasingly used only as a justification for operating gaming devices. Tax rates would be reduced for also gambling enterprises.
The bill would additionally develop a state gambling commission to oversee the video gaming industry in Florida. The proposal also asks to create a constitutional amendment that would prohibit all new types of gambling in Florida unless voters were willing to approve it via a statewide referendum.
‘Under the scenario presented in my bill, Florida takes back control of existing gaming in our state and offer a blueprint that is clear the trail it’s going to take in the future,’ Young said at a news meeting. ‘The bill provides for an unprecedented contraction of gaming in the state.’
Opponents See Bill as Gambling Expansion
Nevertheless, not everybody agreed with that assessment. In reality, one or more opponent said that rather than contract gaming, Young’s bill would open the doors to wider gambling through the entire state.
‘ This bill would cause the biggest expansion of gambling in Florida history,’ said No Casinos director John Sowinski. ‘It invites wall to wall casino gambling in Florida, plus the social expenses and crime that go with it.’
No gambling enterprises is a group backed by Florida’s activity industry, including operators like Disney and Universal. They also noticed that with gambling enterprises in some other areas of the country struggling, adding more casinos in Florida might not be the move that is lucrative supporters claim it would be.
However, the bill doesn’t contain much in the method of conditions such as the Seminoles. Right now, the Seminoles run the Seminole Hard Rock Hotel & Casino and other venues under a tight with the state that is set to expire on 31 july. At this time, the Seminole Tribe pays the state over $200 million each 12 months for exclusive legal rights to blackjack inside the state.
Governor Rick Scott spent time year that is last with the tribe, and nearly reached a seven-year renewal for the compact, however the two edges could not finalize a contract.
‘We are definitely open to continuing dialogue with the tribe as to how they fit in the larger picture,’ younger said. ‘ But since there’s no agreement at this true point, we have not included them in this bill.’
Bidding Reopened For Southern Tier Casino In Nyc
Gaming Facility Location Board seat Kevin Law says the board is hoping to get more competition within the tier bidding process that is southern. (Image: yogonet.com)
The ny casino bidding process isn’t over just quite yet. As anticipated, the Gaming Facility venue Board agreed upon Friday to reopen the bidding for the casino within the Southern Tier region, again allowing the possibility that a casino that is fourth might be awarded in the state.
In accordance with board chairman Kevin Law, it is expected that the decision that is final whether or perhaps not to accept a casino for the spot should come by come early july.
Brand New Round of Bidding Was Anticipated
The move was an expected one. After all, Governor Andrew Cuomo wrote the board individually late a year ago in order to ask it to offer the Southern Tier another chance to create new proposals they might be prepared to accept.
People of the board have also spoken publically on how there is no genuine damage in reopening the procedure: if you haven’t a new proposition they can always say they want to stick with only the three casinos that are currently set to be built in upstate New York that they like.
The first time around on the other hand, if someone steps up to wow the board, they might get the license that eluded the region.
‘we are hoping that there surely is likely to be competition, Law said. ‘We only got three bids for the whole combined region for 1st time around, so to expect numbers larger than that is probably impractical, but you never know.’
Brand New Report Outlines Selection Process
On the same days that this choice was reached, the board also circulated a report that is nearly 800-page outlined exactly why the 3 winning bidders were chosen, and while the other 13 projects had been rejected.
Perhaps the many interesting battle took invest the Hudson Valley/Catskills region, where also major gambling businesses like Caesars and Genting were interesting in placing a casino in Orange County given its proximity to nyc.
However, all of this Orange County proposals were refused; instead, the Montreign Resort Casino in Thompson, in the heart of Sullivan County and the Catskills, was the winning bidder.
The newly-released report explains how the committee found that decision. The board was willing to concede that a casino in Orange County might have been extremely lucrative, given just how many individuals live in and around New York City and the fact that 50 million tourists visit the area every 12 months.
But, putting a casino in Orange County would have seriously harmed the prospects of any casino placed north that is further the Catskills. That has been a challenge, since the Catskills was seen being an area of far more need that is economic could really use the stimulus that a casino task might offer.
Montreign ended up being chosen over other gambling enterprises into the Catskills for different reasons. a competing mohegan sun proposition in Thompson was considered too small, while the Nevele in Ellenville was reduced since it don’t include entertainment options beyond gambling.
The report also offered some understanding into why probably the most bid that is promising the Southern Tier, the Tioga Downs proposition, was rejected. Based on the board, the master plan lacked ‘a cohesive site design and layout.’
The board also used the report to once reiterate their reasoning again for not initially selecting the maximum of four upstate casinos. The main reason came down to the truth that local competition has made oversaturation a real danger, and that the board wished to ensure the three casinos that had been chosen would have sufficient customers to achieve success.
