Nevada Looking At Betting On OlympicsSports Books Want All Events For Potential Wagering |
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Sports betting in Nevada is at record levels, and some are looking to continue the winning streak by expanding the sports book business.
According to the Las Vegas Review-Journal, Silver State gaming officials are currently mulling over letting sports books take bets on all Olympic events and contests. It appears to be a forgone conclusion that officials will let sports books open the doors to wagering on the Olympics, both summer and winter, but it’s just a matter of how much.
Whether or not offering wagering on all events would even make financial sense for the Nevada sports books is also being considered. The report said that sports book operators CG Technology, William Hill and the Westgate all submitted letters of support for Olympics betting.
The state could end up just letting sports books decide for themselves which Olympic events should have betting lines. Nevada is looking to join the U.K. in gambling on the Olympics. The next time the Olympics come to the U.S. could be in Boston in 2024.
Nevada sports books reportedly are also seeking a change that could allow gambling on pop culture events like the Academy Awards and reality TV shows.
In 2013, Nevada sports books won nearly $203 million off of roughly $3.6 billion in bets, according to data from the University of Nevada Las Vegas. It is worth noting that 2013 had the highest win percentage for sports books statewide since 2007.
It has been estimated that more than $4 billion was wagered in 2014.
In November of this past year, sports bettors in Nevada ponied up a record $535 million, of which $400.7 million came on college and professional football, the RJ reported.
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