With the 2016 Olympic Games already started, many online gambling sites are offering wagers on events. Even the state of Nevada has opened up to offer quality bets on who will go for the gold.
The 2016 Olympic Games are in full swing in Rio, with Brazil a buzz with excitement. Olympians from around the globe have converged in one spot to show they are the best of the best in their given sport. From swimming to gymnastics to rugby, a slew of sports are highlighted to show the best athletes from around the world.
History of Olympic Games Wagering
For decades, wagers have been placed on the Olympic games from individuals betting amongst themselves to land based sports books and over the past few years, with online gambling sites. Bettors love to get in the action, choosing who will win a gold, silver or bronze medal. Gambling can become quite interesting when you consider thousands of individuals are involved in the Olympics.
In the past, the Olympics has been able to generate massive returns for the online gambling industry. However, along with the positive comes the negative. There is always some sort of controversy involved when considering Olympic wagering. The International Olympic Committee has demanded that profits are given to the sports organizers and federations since they are involved in the process. You have other groups who want to see tighter restrictions on betting to ensure all of the games are legit.
With any sport, you have the opportunity for match fixing or tampering. It is not unheard of and quite prevalent in such sports as snooker. With online gambling sites offering tons of wagers on the Olympic Games, many want to see such wagering stopped so there are no thrown competitions or tampering with scoring. It does seem that this type of activity would be few and far between due to the fact that athletes have to work extremely hard to reach the games.
Nevada and Olympic Wagering
The state of Nevada is known for offering online gaming options including poker. The state has yet to become involved in real money online casino gaming but operators of land based venues in the state have made strides to offer their own types of online casino gaming, even if it is just for free play or prizes.
In regards to the Olympic Games, the Nevada Gaming Control Board recently decided to recommend that such wagering be legalized within the state. The prohibition was lifted and players now have the option to place wagers on a number of Olympic events. You may be wondering just what punters bet on when considering the Olympics. Well, in most cases, individuals will wager on the sports the enjoying watching. This could be basketball, rugby, the gymnastics, swimming etc. With the Olympics, bettors have the option to wager on a particular athlete, a place or finish time, medal winners, etc. The list could go on and on for the potential for wagering.
Trouble With Brazil
There have been problems with the games being held in Brazil that could affect the betting pattern on the games. The Zika virus is a hot topic of debate as well as Russian athletes being removed from the competition after found to be doping. 68 Russian competitors have been banned from competing and the Court of Arbitration for Sport has no plans to lift the ban.
To assist with security, the International Olympic Committee will have the Integrity Betting Intelligence System in place. This system will monitor the betting patterns of the Summer Olympic Games to ensure the integrity of each event. Bettors can rest easy knowing they can enjoy the wagering without any tampering in place.