Nevada sports books 
received some good news on Thursday as the Nevada Gaming Commission unanimously approved an amendment to state gaming regulations to allow betting on Olympic athletic events.
The change allows Nevada books to begin accepting wagers on the 2016 Summer Games in Rio De Janeiro and bookmakers wasted little time, offering lines on men’s basketball, track and field, and swimming.
It was previously believed that the return of Olympic betting to Nevada would be limited in some capacity, particularly as regards to International Olympic Committee-sanctioned events controlled by judges. But the commission opted to allow betting on any “sanctioned event,” although the chairman of the Gaming Control Board has the authority to remove an event or contest at his discretion. Current chairman A.G. Burnett told reporters that conversations on what sports to allow and what not to allow will happen before the Olympics start so don’t expect an immediate answer on this front until next year.
With the ban on Olympic betting now lifted, the Rio shindig will be the first Olympics that Nevada books can put place betting lines on since 2000 Games in Sydney. Olympic betting was outlawed in 2001 when Senator John McCain spearheaded a ban on betting on amateur sports. Somewhat confusing was the notion that McCain’s definition of “amateur sports” didn’t include college athletics, including football and basketball.
Books understand that betting on the Olympics won’t move the needle much as far as handle is concerned. But it does strip away the competitive disadvantage Nevada books experienced anytime the Olympics was held.
