South America will host the Summer Olympic Games for the first time in 2016, as Rio De Janeiro, Brazil was awarded the honor on Friday. Rio beat out the US choice of Chicago, Illinois along with Tokyo, Japan and Madrid, Spain to earn the right to host the games. Despite a high pressure effort from the American power elite–including President Barak Obama and TV gabfest queen Oprah Winfrey–Chicago was the first city eliminated from contention.

Bookmakers offered odds on the host city choice, with Rio listed as second favorite at +200. Chicago had been the wagering favorite at most books, particularly after President Obama got involved personally in the US bid effort. Chicago was bet as high as a -300 favorite, while Madrid and Tokyo were priced in the +250 range. Some suggest that Tokyo didnt deserve to have such short odds, but was the beneficiary of regional pride from the notoriously enthusiastic betting population of Japan. Despite some media attention to the betting odds, bookmakers reported that they didn’t receive a lot of action on the event.

Luiz Inacio Lula da Silva, President of Brazil, got the better of his US counterpart with a passionate speech that stood in marked contrast to Obamas typically baleful collection of talking points;

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