Nevada regulators vote to allow sports betting for 2016 Olympics

Nevada gambling regulators voted on Thursday to allow sports betting for the 2016 Summer Olympic Games.

Nevada gambling regulators voted on Thursday to allow sports betting for the 2016 Summer Olympic Games, according to the Associated Press.

It will be the first time betting is allowed for the Olympics in Nevada since it was banned in 2001, according to ESPN.

• Progress lacking on Rio's legacy projects for 2016 Olympics

From the AP:

It was a move unopposed by anyone in the industry and cheered by the regulators themselves. International sports books in Great Britain, Ireland and Australia and offshore Internet sites already allow such bets.

The 2016 Games will take place in Rio de Janeiro, Brazil. According to ESPN, after Thursday's vote the United States opened as the minus-320 favorite to win gold in men's basketball.

- Molly Geary