Olympic betting will return to Las Vegas after having a 15-year hiatus, a move anticipated to bring huge amount of money in revenues to casinos and bookmakers.
Olympic betting 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 special conference week that is last.
The modification to its gaming regulations allows bookmakers to place betting 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, has the authority to remove any competition from betting task.
Vegas activities books wasted no time in posting initial odds. Just moments after the board’s choice, William Hill US put Usain Bolt as being a -200 favorite for the men’s 100m, additionally the United States basketball group as a whopping -320 favorite.
‘With more than two out of each and 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 using the World Cup,’ William Hill CEO Joe Asher said. ‘We look forward to continually expanding our menu that is olympic in next 18 months prior to the games.’
Betting on Amateurs?
Senator John McCain (R-AZ) successfully led a ban in 2001 to prohibit all activities betting on amateur competitions and events that are athletic. Although the Olympics began being a competition among beginners, the majority of participants today are professional athletes with substantial sponsorship deals, regularly competing in national sporting leagues and federations.
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 typically slow summer sports gambling months. With baseball being the only sport that is major the usa in season, bookies are excited to have the Olympics back their arsenal for 2016.
‘ This is a good thing for the industry and helps drive business during what sometimes can be quite a sluggish period for the books,’ CG Technology VP Quinton Singleton remarked.
Sports betting has been on the rise for each of the past five years with a record-setting $3.9 billion in wagers in 2014, an increase of 7.7 percent from 2013. The World Cup had a tremendous impact that exceeded most forecasts. Interest in soccer, while typically lower in the United States than other countries, spiked likely due to its hosting in Brazil, a national nation with time areas differing as low as one hour from America.
The 2012 London Olympics was the most-watched television occasion in the annals of the United States. A lot more than 219 million Americans watched the games, and thinking about the time that is substantial, insiders believe the record won’t last very long. Many audiences struggled watching ‘live’ events that were taped hours earlier.
With only a five-hour time difference between Vegas and Rio, wagering activity will likely surge for the 2016 Olympics as Nevadans will be able to view the events in genuine time.
Getting a slice of the pie that is multibillion-dollar something chances manufacturers are excited to receive, while they missed out in 2012. ‘You’d have people coming over from the UK, where it had been legal to bet on the Olympics, and wondering why they mightn’t here place a bet,’ Singleton stated.
New Gambling Overhaul Bill Presented In Florida
Republican frontrunner Dana Young has introduced a bill that would allow for two resort casinos in South Florida. (Image: floridapolitics.com)
Florida’s gambling industry has been in hopeless need of an overhaul, as a mish-mash of different guidelines and regulations have created a situation that is uncertain operators and legislators alike.
Now, a brand new package of legislation from House Republican Leader Dana Young (R-Tampa) would seek to update gaming laws within the state in order to produce a system that everybody else in Florida can (hopefully) live with.
Major Resort Casinos Could Be Greeting in South Florida
Perhaps the addition that is biggest under younger’s legislation would be the two destination resort casinos that could be allowed in South Florida. This might be something that major video gaming companies, including Genting as well as the Las Vegas Sands, have casino-bonus-free-money.com been pushing for in a state that currently just allows casino that is full to be offered by the Seminole Tribe of Florida. The resort that is new, however, is required to buy gaming permits from active operators such as race tracks to be able to build their facilities.
The bill would also give help to the pari-mutuel operators in South Florida. Puppy songs would be allowed to operate slots even though they do maybe not continue to race dogs, an activity who has lost popularity and is increasingly used only as a justification for operating gaming machines. Tax prices would be reduced for also casinos.
The bill would additionally produce 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 forms of gambling in Florida unless voters had been willing to approve it via a referendum that is statewide.
‘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 road it’s going to ingest the future,’ Young stated at a news seminar. ‘The bill provides for a contraction that is unprecedented of in the state.’
Opponents See Bill as Gambling Expansion
Nonetheless, 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 expansion that is biggest of gambling in Florida history,’ said No gambling enterprises manager John Sowinski. ‘It invites wall to wall surface casino gambling in Florida, while the social costs and crime that go with it.’
No Casinos is a group backed by Florida’s entertainment industry, including operators like Disney and Universal. They also pointed out that with gambling enterprises in some other elements 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 include much in the method of conditions including the Seminoles. Right now, the Seminoles run the Seminole tough Rock Hotel & Casino along with other venues under a compact with the state that is scheduled to expire on July 31. Right now, the Seminole Tribe pays the state over $200 million each for exclusive rights to blackjack within the state year.
Governor Rick Scott invested time year that is last with the tribe, and nearly reached a seven-year renewal for the lightweight, but the two sides could not finalize an agreement.
‘We are definitely open to continuing dialogue with the tribe as to how they fit in the larger picture,’ Young said. ‘ But since there’s no agreement at this true point, we now have not included them in this bill.’
Bidding Reopened For Southern Tier Casino In New York
Gaming Facility Location Board seat Kevin Law says the board is hoping to get more competition into the Southern Tier bidding process. (Image: yogonet.com)
The nyc casino bidding process isn’t over just quite yet. As anticipated, the Gaming Facility Location Board agreed on Friday to reopen the bidding for a casino within the Southern Tier region, once more allowing the possibility that a casino that is fourth might be awarded in the state.
In accordance with board chairman Kevin Law, it is anticipated that the decision that is final whether or perhaps not to approve a casino for the region should come by this summer.
Brand New Round of Bidding Was Anticipated
The move was an expected one. Another chance to come up with new proposals that they might be willing to approve after all, Governor Andrew Cuomo wrote the board personally late last year in order to ask it to give the Southern Tier.
Members of the board have also talked publically how there isn’t any real damage in reopening the process: when there isn’t a new proposal they like, they could always say they want to stick with only the three casinos that are currently set to be built in upstate brand new York.
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 going to be competition, Law said. ‘We only got three bids for the whole region that is combined the first time around, so to expect numbers larger than that is probably impractical, but you never know.’
New Report Outlines Selection Process
On the same days that this choice had been reached, the board also circulated a nearly 800-page report that outlined exactly why the three winning bidders were chosen, and while one other 13 projects had been rejected.
Possibly the many battle that is interesting invest the Hudson Valley/Catskills region, where also major gambling firms like Caesars and Genting were interesting in placing a casino in Orange County given its proximity to nyc.
However, all associated with Orange County proposals were refused; instead, the Montreign Resort Casino in Thompson, within the heart of Sullivan County and the Catskills, was the winning bidder.
The newly-released report explains how a committee came to that decision. The board was willing to concede that a casino in Orange County could have been extremely lucrative, given just how people that are many in and around New York City and the proven fact that 50 million tourists visit the area every year.
But, putting a casino in Orange County would have seriously harmed the prospects of any casino placed further north in the Catskills. Which was a problem, because the Catskills was seen being an area of far more need that is economic could really use the stimulus that a casino task might provide.
Montreign had been chosen over other gambling enterprises in the Catskills for various reasons. A mohegan that is competing sun in Thompson was considered too small, while the Nevele in Ellenville was discounted since it don’t include entertainment options beyond gambling.
The report also offered some insight into why the absolute most promising bid in the Southern Tier, the Tioga Downs proposition, was refused. In accordance with the board, the plan lacked ‘a cohesive site design and design.’
The board also used the report to once reiterate their reasoning again for not initially selecting the utmost of four upstate casinos. The reason that is main down to the fact regional competition has made oversaturation a real danger, and that the board wanted to ensure the 3 casinos that had been chosen might have enough customers to be successful.