Olympic betting will return to Las Vegas after having a hiatus that is 15-year a move expected 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 https://casino-bonus-free-money.com/titanic-slot/ an amendment during a unique meeting last week.
The revision to its gaming regulations permits bookmakers to spot 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 remove any competition from wagering activity.
Las Vegas recreations books wasted 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 men's 100m, and the US basketball team 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 prospective to help make a sizable impact in August of 2016, like we saw last June with all the World Cup,' William Hill CEO Joe Asher said. 'We look ahead to continually expanding our menu that is olympic in next 18 months prior to the games.'
- 1 New Gambling Overhaul Bill Presented In Florida
- 2 Bidding Reopened For Southern Tier Casino In Ny
Betting on Amateurs?
Senator John McCain (R-AZ) successfully led a ban in 2001 to prohibit all activities betting on amateur tournaments and athletic events. 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 is 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 throughout the summer that is typically slow betting months. With baseball being the only major sport in the united states in season, bookies are excited to really have the Olympics back their arsenal for 2016.
' This is a good thing for the industry and can help drive company during what sometimes can be quite a slow period for the books,' CG Technology VP Quinton Singleton remarked.
Sports betting has been on the rise for each of the last five years with a record-setting $3.9 billion in wagers in 2014, an increase of 7.7 % from 2013. The World Cup had an impact that is tremendous exceeded most forecasts. Interest in soccer, while typically lower in the US than many other countries, spiked likely because of its hosting in Brazil, a national country with time zones differing as little as one hour from America.
The 2012 London Olympics was the television that is most-watched in the real history of the United States. A lot more than 219 million Us americans watched the games, and taking into consideration the substantial time difference, insiders believe the record will not last long. Many people struggled watching 'live' events that were 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 view the events in real time.
Getting a slice of this pie that is multibillion-dollar something odds makers are excited to receive, because they missed away 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 place a bet here,' Singleton stated.
New Gambling Overhaul Bill Presented In Florida
Republican leader Dana Young has introduced a bill that will enable 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 laws and regulations have created an uncertain situation for operators and legislators alike.
Now, a package that is new of from House Republican Leader Dana Young (R-Tampa) would seek to update gaming laws within the state in order to create a system that everybody else in Florida can (hopefully) live with.
Major Resort Casinos Is Welcome in South Florida
Probably the addition that is biggest under younger's legislation will be the two destination resort casinos that would be allowed in South Florida. This is something that major gaming businesses, including Genting plus 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 necessary to buy gaming licenses from active operators such as race tracks so that you can build their facilities.
The bill would also give assistance to the pari-mutuel operators in South Florida. Dog songs would be allowed to work slots even when they are doing perhaps not continue steadily to race dogs, an activity which includes lost popularity and is increasingly used only as a justification for operating gaming machines. Tax rates would be reduced for also casinos.
The bill would create a state also gambling commission to oversee the video gaming industry in Florida. The proposal also asks to produce a constitutional amendment that would prohibit all brand new forms 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 offer a clear blueprint for the road it's going to ingest the future,' Young stated at a news meeting. '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, at least one opponent said that rather than contract gaming, younger's bill would open the hinged 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 director John Sowinski. 'It invites wall surface to wall casino gambling in Florida, plus the costs that are social crime that go with it.'
No Casinos is a group backed by Florida's activity industry, including operators like Disney and Universal. In addition they noticed that with gambling enterprises in some other elements of the country struggling, adding more casinos in Florida is probably not the profitable move that supporters claim it could be.
However, the bill doesn't contain much in the real method of provisions such as the Seminoles. Right now, the Seminoles operate the Seminole intense Rock Hotel & Casino along with other venues under a concise with the state that is defined to expire on 31 july. Right now, the Seminole Tribe pays the state over $200 million each 12 months for exclusive legal rights to blackjack inside the state.
Governor Rick Scott invested time a year ago negotiating with the tribe, and nearly reached a seven-year renewal regarding the compact, however the two edges couldn't finalize an agreement.
'We are certainly available to continuing dialogue with the tribe as to how they fit in the larger picture,' younger said. ' But since there's no contract as of this point, we've not included them in this bill.'
Bidding Reopened For Southern Tier Casino In Ny
Gaming Facility venue Board chair Kevin Law claims 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 expected, the Gaming Facility venue Board agreed upon Friday to reopen the bidding for the casino into the Southern Tier region, once again allowing the possibility that a fourth casino license could possibly be awarded in the state.
In accordance with board chairman Kevin Law, it is expected that the final decision on whether or otherwise not to accept a casino for the location should come by this summer.
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 spoken publically on how there isn't any real harm in reopening the process: if there isn't a new proposition which they like, they can always say they need to stick with just the three casinos which can be currently set to be built in upstate brand new York.
Having said that, if someone measures up to wow the board, they might get the license that eluded the region the very first time around.
'We're hoping that there is going to be competition, Law said. 'We just got three bids for the entire combined region for the first time around, so to expect numbers larger than that is probably unrealistic, but you never know.'
Brand New Report Outlines Selection Process
On the same days that this choice had been reached, the board also released a report that is nearly 800-page outlined exactly why the 3 winning bidders were chosen, and while one other 13 projects had been rejected.
Perhaps the most battle that is interesting place in the Hudson Valley/Catskills region, where even major gambling companies like Caesars and Genting were interesting in placing a casino in Orange County given its proximity to nyc.
However, all for the Orange County proposals were refused; instead, the Montreign Resort Casino in Thompson, within the heart of Sullivan County and the Catskills, was the bidder that is winning.
The newly-released report explains the way the committee came to that decision. The board was willing to concede that a casino in Orange County would have been extremely lucrative, given just how many people live in and around New York City and the proven fact that 50 million tourists see the area every 12 months.
However, putting a casino in Orange County would have seriously harmed the prospects of any casino placed further north in the Catskills. That was a problem, since the Catskills was seen as an area of even more economic need that could undoubtedly use the stimulus that a casino task might offer.
Montreign had been chosen over other casinos in the Catskills for different reasons. a competing mohegan sun proposition in Thompson was considered too small, while the Nevele in Ellenville was discounted as it didn't add entertainment options beyond gambling.
The report also offered some insight into why the most promising bid in the Southern Tier, the Tioga Downs proposal, was rejected. In accordance with the board, the master plan lacked 'a cohesive site design and layout.'
The board also used the report to as soon as reiterate their reasoning again for not initially selecting the most 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 three casinos that had been chosen would have enough customers to be successful.