A group of the Las Vegas Strip sports books have banded together to lobby the Nevada Gaming Commission to legalize bets on Olympic events.
As it stands now, Olympic betting is still illegal in Nevada, largely because of its classification as an amateur sport. But that could change if a group of Las Vegas sportsbooks emerge successful in their bid to have Olympic betting legalized in the state in time for the 2016 Summer Games in Rio de Janeiro.
A lot of Vegas books have been clamoring for Olympic betting to be legalized, due to the demand for action during the Olympics, especially from foreign visitors. According to the books, the age-old argument of amateur players playing in the Olympics has become irrelevant, especially when you have NBA stars like LeBron James and NHL stars like Sidney Crosby participating in men’s basketball and men’s ice hockey events, respectively.
There’s also that part about putting Nevada at what CG Technology VP of risk management, Jason Simbal, calls a “competitive disadvantage,” referring to online sportsbooks who are free to offer bets on the Olympics.
“We have a lot of people, especially our international visitors, who come here and are surprised they can’t bet on the Olympics,” Simbal told USA Today.
If Olympic betting were legalized, Vegas sportsbooks could begin offering odds on popular sports like basketball, hockey and soccer, which are played by professional athletes from their respective sports, not amateurs.
In addition, betting on sports like swimming, figure skating, and track and field would also become legal, allowing bettors to place bets on the likes of Usain Bolt and Michael Phelps in any Vegas sportsbook.