Can You Bet On Olympics

Posted : admin On 4/14/2022

Actually, betting on the Olympics was not actually outlawed by name, but instead it was covered in Nevada Gaming Regulation 22.120, which was changed to read: “No wagers may be accepted or paid by any book on any amateur non-collegiate sport or athletic event.' Listen, the Olympics are essentially a season of Love Island. Every four years, thousands of people who spend every single day perfecting their bodies, representing just about every race, creed and nationality in the entire world, spend two, no-strings-attached weeks in condensed living quarters. The Olympics - Specials. Starting in 5 min. You can modify the settings and obtain further information in our Cookie Policy. You accept its use.

Betting on the Olympics is returning to Nevada sportsbooks.

Nevada Gaming Control approved an amendment to state gaming regulations Thursday, allowing sportsbooks to offer wagering on sporting or athletic events sanctioned by the International Olympic Committee. The proposal passed unanimously and was quickly followed by the William Hill sportsbook posting odds on the 2016 Summer Games in Rio.

The United States men's basketball team is a minus-320 favorite to win the gold medal in 2016. The U.S. is favored to win 6.5 more gold medals than China, and Brazil is plus-250 to win the gold medal in men's soccer.

'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 said in a statement. 'We look forward to continually expanding our Olympic menu in the next 18 months leading up to the games.'

Betting on the Olympics in Nevada was outlawed in 2001, when Sen. John McCain was pushing for a ban on betting on all amateur sports. At the time, Nevada books were not taking wagers on state schools like UNLV. The state removed that restriction, but prohibited betting on other amateur events, like the Olympics. This put Nevada at somewhat of a disadvantage compared to other gambling markets where Olympic betting was allowed.

'You'd have people coming over from the U.K., where it was legal to bet on the Olympics, and wondering why they couldn't place a bet here,' Quinton Singleton, vice president and deputy general counsel for sportsbook operator CG Technology, told ESPN.com. 'This is a good thing for the industry and will help drive business during what sometimes can be a slow period (the summer) for the books.'

There was consideration about limiting which events would be available for wagering, especially events like ice skating and gymnastics, which are decided by judges. But Gaming Control opted to allow betting on any sanctioned event, subject to limitation by the chairman of the board.

Jay Kornegay, vice president of the Westgate SuperBook, said that while some Olympic events won't 'move the needle much,' other events, especially those featuring prominent Americans in contention, will be very popular.

'I would think there might be some interest in events like, for example, women's downhill skiing with Lindsey Vonn,' Kornegay said. 'Overall, this just allows us to be a little more competitive with the rest of the world.'

The Olympic Games only happen once every two years, but for those two weeks the event takes priority in sports coverage and also in online sports betting. The Olympics seem to get bigger every year and so does betting on the Olympics. Placing your Olympics bets is easier and safer than ever thanks to trustworthy and reputable online sports betting sites, some of which we will recommend below. Many of these online sportsbooks also offer some great Olympics betting promotions to go along with their typical bonuses!