The Olympics is the pinnacle of international sports competition. In this year's summer Olympics in Rio, sports books in Las Vegas are once again allowed to take action on many of the sporting events. According to a New York Report, Las Vegas will now be accepting bets on the Rio Olympic Games.
Las Vegas betting on Olympic Games was banned in 2001 due to a bill authored by Senator John McCain. Hill bill on Amateur Sports Integrity Act has put a ban on all sports betting on amateur sports as a means of protecting college athletes against the harmful effects of gambling.
In 2015, the Nevada Gaming Commission lifted the ban for the purpose of gaining monopoly on all types of sports betting. This will give Las Vegas casinos a financial boost, especially since there is not much going on in the world of sports at this time of the year.
Betting on Olympic Games will definitely be more fun, especially when you consider the unpredictability of many of the events. Even though the number of elite athletes will be reduced mainly due to the scare of Zika virus, many of the events that will be held will still be worth watching and possibly betted on.
The Olympics will never be exempted from gambling, as betters and bookmakers will always find gray areas in gambling. Being able to do gambling legally will greatly help in ensuring that nobody breaks any laws just to bet for their favorite team in the Olympics.
Banning of betting in the Olympics has truly been a weird decision in the first place. Since there is a wide-range of sports being competed in the sporting event, it goes without saying that it is the perfect venue for gambling. To be able to do gambling legally helps ensure that things get regulated.