Olympic Betting Returns To Nevada Sportsbooks

Olympic Betting

The Rio 2016 Olympics opens in two weeks, and there is no better news for bettors in the US than the fact that they can now place bets on the Olympic Games in Nevada casino sportsbooks again.

The last time betting on the Olympics Games was permitted in the state was 16 years ago, before the practice was revoked in 2001. This was reportedly due to Sen. John McCain’s decision that betting on Olympic Games exploits the amateur athletes.

Nevada Gaming Control Board

This decision, however, has already been overturned in February last year when the Nevada gaming regulators gave Olympic betting the green light. Therefore, bettors can legally place their bets on the Olympic matches once the quadrennial sporting event opens on Aug. 5.

Not like Super Bowl

Reports show that betting on the Olympic Games will not be as grand as it was for the Super Bowl. Experts also believe that the sportsbooks will handle about $20 million to $30 million for Olympic betting across the state, while the limits can be expected to be kept low.

This is a different story from the London 2012 Olympics, though. UK sportsbooks were surprised by the impressive performance of the Olympic betting markets four years ago. Unlike the sportsbooks in Nevada, those in the UK have been offering Olympic wagering ever since and previous Olympics were highlighted further by the city’s hosting of the said event.

Team USA Basketball

Jay Kornegay, Director of Westgate Superbook, believes that the Nevada sportsbooks will also limit the bets to a select few sport events. Jay Rood, Sportsbook Director of MGM Resorts, on the other hand, eyes men’s basketball to take the majority of the Olympic bets due to cultural differences. Brazil, for example, is expected to witness huge bets on football.

Although the Olympic Games will not be as huge as other betting markets, these are now one of the events to look out for in the Nevada casino sportsbooks.

Originally posted on Nevada Sportsbooks Look Forward to Olympic Betting but Don’t Expect Windfall

Chris Evans

Chris Evans

A passionate adherent of the casino industry, Bitcoin has changed Chris’ life. Now, aside from working as the Business Development Manager of Bitcoin Gambling Guide, he spends his time working on new ways to help the cryptocurrency community as well as the online gambling industry. He regularly stays updated with the latest trends in the Bitcoin gambling market to continually gain insights and clearer perspectives on the path the digital currency is taking. Included in his mission to forward the market is his personal goal to share worthy and unique ideas that will pave the way for more innovations and developments. If not preoccupied in juggling with his duties, Chris devotes his time betting in Bitcoin casinos. Who said it’s impossible to work and play at the same time?

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