Olympic Betting Approved In Nevada For 2016 Games

Olympic betting will get back to Las Vegas after a hiatus that is 15-year a move expected to bring millions of dollars in revenues to casinos and bookmakers.
Olympic gambling in Nevada will return for the 2016 Summer Games in Rio de Janeiro after the state’s Gaming Control Board unanimously approved an amendment throughout a unique meeting week that is last.
The revision to its gaming regulations permits bookmakers to spot wagering lines on any athletic event sanctioned 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 activity.
Las Vegas activities books wasted virtually no time in posting odds that are initial. Just moments after the board’s decision, William Hill US place Usain Bolt as a -200 favorite for the men’s 100m, while the US basketball group as a whopping -320 favorite.
‘With more than two out of every three Americans having watched the London Olympics in 2012, the games in Rio have the potential to make a sizable impact in August of 2016, like we saw last June with the World Cup,’ William Hill CEO Joe Asher stated. ‘We look forward 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 sports betting on amateur competitions and athletic events. Although the Olympics began as a competition among amateurs, the majority of participants today are professional athletes with substantial sponsorship deals, regularly competing in national sporting leagues and federations.
After all, it is a tough argument to defend Michael Phelps, Alex Morgan, LeBron James, Usain Bolt, Lolo Jones, and Lindsey Vonn as ‘amateur athletes.’
The ban has very long troubled Las Vegas through the summer that is typically slow gambling months. With baseball being the only sport that is major the united states in season, bookies are excited to really have the Olympics back their arsenal for 2016.
‘ This will be a thing that is good the industry and can help drive business during what sometimes can be a sluggish period for the books,’ CG Technology VP Quinton Singleton remarked.
Continued Development
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 percent from 2013. The World Cup had a tremendous effect that exceeded many forecasts. Interest in soccer, while typically reduced in the US than many other countries, spiked likely because of its hosting in Brazil, a national nation with time areas differing less than one hour from America.
The 2012 London Olympics was the most-watched television occasion in the real history of the United States. A lot more than 219 million Us americans watched the games, and thinking about the time that is substantial, insiders believe the record will not last long. Many viewers struggled watching ‘live’ events which were taped hours earlier.
With only a time that is five-hour between Vegas and Rio, gambling task will probably surge for the 2016 Olympics as Nevadans should be able to see the events in real time.
Getting a slice of the pie that is multibillion-dollar something chances makers are excited to receive, as they missed out in 2012. ‘You’d have people coming over from the UK, where it ended up being legal to bet on the Olympics, and wondering why they mightn’t here place a bet,’ Singleton said.
New Gambling Overhaul Bill Presented In Florida
Republican leader Dana Young has introduced a bill that will allow for two resort casinos in Southern Florida. (Image: floridapolitics.com)
Florida’s gambling industry has been in hopeless need of an overhaul, as a mish-mash of different regulations and regulations have created a situation that is uncertain 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 something that everyone else in Florida can (hopefully) live with.
Major Resort Casinos Would Be Welcome in South Florida
Perhaps the addition that is biggest under Young’s legislation is the two destination resort casinos that could be allowed in South Florida. This will be something which major gaming businesses, including Genting as well as the Las Vegas Sands, have actually been pushing for in a situation that currently just allows complete casino gambling to be offered by the Seminole Tribe of Florida. The resort that is new, however, will be required to purchase gaming permits from active operators such as for instance race tracks so that you can build their facilities.
The bill would give help to also the pari-mutuel operators in South Florida. Puppy tracks would be allowed to operate slots even in the event they do not continue to race dogs, an activity which includes lost popularity and it is increasingly used only as a justification for operating gaming devices. Tax rates would additionally be paid down for casinos.
The bill would additionally create 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 kinds of gambling in Florida unless voters had been willing to accept it via a statewide referendum.
‘Under the scenario presented in my bill, Florida takes back control of existing gaming in our state and provide a blueprint that is clear the trail it’s going to consume the future,’ younger stated at a news meeting. ‘The bill provides for an unprecedented contraction of gaming in the state.’
Opponents See Bill as Gambling Expansion
But, not everyone agreed with that assessment. In reality, one or more opponent said that rather than contract gaming, younger’s bill would open the doors to wider gambling through the state.
‘ This bill would cause the biggest expansion of gambling in Florida history,’ said No gambling enterprises director John Sowinski. ‘It invites wall surface to wall surface casino gambling in Florida, as well as 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. Additionally they remarked that with gambling enterprises in some other parts of the country struggling, adding more casinos in Florida is probably not the move that is lucrative supporters claim it could be.
However, the bill does not contain much in the real method of conditions such as the Seminoles. Right now, the Seminoles operate the Seminole rough Rock Hotel & Casino and other venues under a tight with the state that is placed to expire on July 31. Now, the Seminole Tribe pays the state over $200 million each for exclusive rights to blackjack within the state year.
Governor Rick Scott spent time year that is last with the tribe, and nearly reached a seven-year renewal regarding the lightweight, nevertheless the two sides could not finalize an agreement.
‘We are truly available to continuing dialogue with the tribe as to how they fit into the bigger picture,’ Young said. ‘ But since there’s no contract as of this point, we have not included them in this bill.’
Bidding Reopened For Southern Tier Casino In Nyc
Gaming Facility Location Board chair Kevin Law says the board is hoping for lots more competition within the Southern Tier bidding process. (Image: yogonet.com)
The New York casino bidding process isn’t over just quite yet. As expected, the Gaming Facility Location Board agreed on Friday to reopen the bidding for the casino within the Southern Tier region, once again allowing the possibility that a 4th casino license might be awarded in the state.
Based on board chairman Kevin Law, it is anticipated that the decision that is final whether or perhaps not to approve a casino for the spot should come by this summer.
New Round of Bidding Was Anticipated
The move was an expected one. After all, Governor Andrew Cuomo wrote the board individually later last year in order to ask it to provide the Southern Tier another chance to come up with new proposals which they might be ready to accept.
Users of the board have also talked publically about how precisely there isn’t any genuine harm in reopening the procedure: if there isn’t a new proposal 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’re hoping that there surely is going to be competition, Law said. ‘We only got three bids for the entire combined region for 1st time around, so to expect numbers larger than that is probably impractical, but you never know.’
New Report Outlines Selection Process
On a single days that this choice was reached, the board also released a report that is nearly 800-page outlined exactly why the 3 winning bidders were chosen, and while the other 13 projects were rejected.
Perhaps the many interesting battle took invest the Hudson Valley/Catskills region, where also major gambling firms like Caesars and Genting were interesting in new titanic slot machine placing a casino in Orange County given its proximity to New York City.
However, all associated with Orange County proposals were rejected; instead, the Montreign Resort Casino in Thompson, within the heart of Sullivan County and the Catskills, was the bidder that is winning.
The report that is newly-released the way the committee stumbled on that decision. The board was willing to concede that a casino in Orange County would have been extremely lucrative, given just how people reside in and around New York City and the proven fact that 50 million tourists see the region every year.
But, placing a casino in Orange County would have seriously harmed the prospects of any casino placed north that is further the Catskills. That was an issue, because the Catskills was seen being an part of a lot more need that is economic could certainly use the stimulus that a casino task might provide.
Montreign had been chosen over other gambling enterprises into the Catskills for various reasons. A mohegan that is competing sun in Thompson was considered too small, while the Nevele in Ellenville was reduced as it don’t consist of entertainment options beyond gambling.
The report also offered some understanding into why the most promising bid in the Southern Tier, the Tioga Downs proposition, was refused. According to the board, the plan lacked ‘a cohesive site design and layout.’
The board also used the report to once again reiterate their reasoning 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 desired to ensure the 3 casinos that were chosen might have sufficient customers to be successful.
