Nevada Signs Off On Olympics Gambling

The Nevada Gaming Control Board has signed off on the plan to let Nevada sports books take action on the Olympics. The idea moves over to the state Gaming Commission, which is expected to give the final OK on Feb. 26.

Nevada regulators have the power to prevent betting on certain events, namely those scored by judges. Nevada sports books will also obviously have the ability to pick which Olympic contests make the most sense financially to allow betting on.

In 2014, gamblers in the Silver State bet $3.9 billion on sports, an increase of 7.7 percent over 2013, according to the Las Vegas Review-Journal.

A total of $227 million was won by the sports books on those wagers.

Both figures reportedly are all-time highs for Nevada.

Although technically not considered a form of online gambling, Nevada sports books do allow mobile sports betting via smartphones and tablets.

Sports betting powerhouses William Hill US and CG Technology were among those behind the Nevada initiative to allow Olympics betting. In 2016, the Summer Games will run in Brazil.

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