Are Nevada sports books taking bets on the Olympics?

I don’t recall if there was an actual law preventing it or just a gentlemen’s agreement amongst the casinos that they wouldn’t, but in the past, Nevada sports books have not accepted bets on the Olympics. Since the upcoming Tokyo Olympics (if they aren’t canceled) will be the first since the Supreme Court overturned PASPA and Nevada now faces out-of-state competition, are the sports books gearing up to take bets this time around?

[Editor's Note: The 2021 Summer Olympics get under way in Tokyo today, though without fans in attendance. For this answer, we turned to Logan Fields, author of our book 20/20 Sports Betting.]

Olympic wagering was legal in Las Vegas until 2001, when the late U.S. Senator John McCain led a big push to ban betting on all amateur sports. Vegas compromised, offering to discontinue wagering on the Olympics and other amateur events, such as Little League baseball, while continuing to offer a full menu on college sports.

This held until 2015, when the Nevada Gaming Commission approved Olympic betting, allowing Vegas to be more competitive with the growing worldwide gambling market.

Excitement from the public was underwhelming, to say the least. Even high-profile events such as U.S. men’s basketball games attracted only marginal interest, roughly equivalent to an average Major League Baseball game. The 2016 Olympics were held in Rio and a fan-friendly time difference of only four hours, so they attracted more action. Vegas bettors are programmed to be three hours behind, so only a minor adjustment was needed. But this year, it’s a 16-hour time difference. Yikes!

In fact, a first-of-its-kind American Gaming Association survey released on Wednesday indicated that a little more than 20 million people "plan" to bet on this year's Olympics. If that sounds like a lot, consider the following. That's less than half of the 47 million the AGA found in a separate survey were going to bet on March Madness earlier this year. Also, of those 20 million, nearly half (47%) expect to bet casually with friends, while 43% will be online, 13% will be illegally with a bookie, and only 16% will place a bet on the Olympics at a retail sportsbook. (Yes, it adds up to more than 100%, but it was a multiple-choice poll.)

Nevertheless, Vegas books will not be deterred. We expect all books around town to offer odds on high-profile events, such as basketball and soccer. The Westgate's offerings are particularly interesting. Got a hot tip on the U.S. men’s water polo team’s chances to take home the gold? The Westgate will be happy to take your action, and at 200-1 odds! What’s up with that? Even tiny Montenegro is only 10-1! The Westgate is also offering odds on other obscure events, such as handball, field hockey, and rugby.

If you want action on the upcoming Tokyo Olympics, you'll certainly find it in Vegas.

No part of this answer may be reproduced or utilized in any form or by any means, electronic or mechanical, without the written permission of the publisher.

Have a question that hasn't been answered? Email us with your suggestion.

Missed a Question of the Day?

Have a Question?

Tomorrow's Question

Has Clark County ever considered legalizing prostitution?

Comments

Kevin Lewis Jul-23-2021

Great betting opportunities

In North Korea, they have Olympic trials where the winners get to go to the games and the losers are sent to prison camps. So they try real hard. The only trouble is that when North Korean runners enter Olympic events, they often just keep on running and are never seen again.

East Germany used to have different incentives. East German male athletes who lost Olympic events became East German female athletes. What a deep voice you have, Hilda.

Russia used to round up the families of judges in events such as gymnastics and hold them hostage until the Games were over. That generated a LOT of 9.9s.

The Olympics are a crock, a worldwide nationalistic chest-thumping contest wherein politics relegates the athletes' performance to the back seat. But they're still kind of fun to watch. Most of the events, anyway.

Question of the Day - 23 July 2021

Comments