The Nevada Gaming Commission unanimously approved an amendment to state gaming regulations to allow betting on Olympic athletic events. This approval allows for Nevada betting books to begin accepting wagers on the 2016 Summer Games in Rio De Janeiro and needless to say, bookmakers are not wasting time in offering lines in popular events such as men’s basketball, track and field, and swimming.
The Nevada Gaming Commission approved the legalization of gambling on Olympic events – Feb 26, 2015, which will take immediate effect, as per Howard Stutz of the Las Vegas Review-Journal comments. According to Stutz, the commission reached the Olympic wagering decision with an unanimous vote.
Vegas bookmaker Jimmy Vaccaro spoke earlier in the month about how wagering on the Olympics also allows Vegas casinos to keep up with the Joneses. “Like every industry in the world, you’ve got to keep improving your product or you lose out in the end,” he said, per NPR’s Nathan Rott. “And you can bet the Olympics in the rest of the world.”
The Summer Olympics are only held once every four years (the next Summer games are in 2020). It will be interesting to see all the different 2016 Summer Olympics betting odds that online sportsbooks are sure to offer which will pay the way for future Olympic Betting.
The odds-makers are sure to hash out Summer Olympic betting odds for each individual event and offer betting options for gold, silver, and bronze medals for individual competitors in their specific events.
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