Betting on the Olympics provides a comprehensive serving of odds on a wide variety of sports. You could say, it’s a real treat for sports betting fans.
There’s something for everyone at the Olympic Games. Sports fans are embarrassed for choice with the sheer volume of sports that feature on the calendar of events – be it track & field events, swimming, gymnastics, volleyball, football (soccer), basketball, cycling, baseball, and so on – the Olympics have it. And, what’s more, sportsbooks are right there, front and center of all the action, giving sports fans a unique opportunity to double-down on their thrills by banking on one of the biggest sporting events on the calendar. Thereby, maximizing the thrills. It’s a win-win situation.
In this space, we serve up a handy overview of Olympic betting and what it entails, along with some good tips to keep in mind.
Popular Olympics Betting Markets: Overall, the next summer Olympic Games in Tokyo promise 339 events in total across 50 disciplines. More than 11,000 athletes representing nearly every country (206 by early estimates) on the globe will descend on the Japanese capital to compete for a podium finish. Not for nothing, is betting on the Olympics a huge draw for top-rated Sportsbooks, who stand to turn in a decent handle.
Straight up betting is one of the most popular markets on offer for the Olympics. Predicting who will win each event outright is the most straightforward bet to make, especially with racing events and other individual competitions. However, depending on the discipline, the betting types available are extensive and include spreads and totals and more as is the case with any sport and sporting event or competition.
Proposition bets and futures are also popular within Olympic betting markets, particularly betting on the total medal haul for each country.
The USA has dominated over the last two summer games – Brazil and London – and by and large, the expectation is for another massive haul in Tokyo.
In 2016, USA burned the competition by picking up 121 medals in total (46 Gold, 37 Silver and 38 Bronze). China came in second but a good distance off with just 70 medals (26 Gold, 18 Silver and 26 Bronze). Rounding out the top 3 nations was Great Britain with 67 medals in total (27 Gold, 23 Silver and 17 Bronze).
Russia (56), Germany and France (42), Japan (41), Australia, Italy and Canada were among the top 10 nations where total medal hauls were concerned in Brazil.
Tips For Betting on the Olympics
1) Shopping Around for Olympic Odds
As is the case with any sport, shopping around for Olympics odds is always recommended. SBR sportsbook’s odds board brings together odds from a raft of top-notch sportsbooks in one place, providing bettors with an at-a-glance look at various sports and corresponding odds. Moreover, sportsbook reviews are easily accessible to make the choice of sportsbook simple and straightforward. before making any sports picks.
2) Stick to What You Know
The sheer breadth and width of the Olympic games can be overwhelming, the number of games all-encompassing. It’s best that sports bettors stick to the sports they know best to increase their chance of winning.
3) Research Past Olympics
What makes Olympics different from all other sports is the fact that many Olympic athletes aren’t household names, especially in bigger sporting markets such as America and Canada where the regular annual sports calendar is jampacked with multiple sports that run almost daily. For example, players from the NFL, NHL, or NBA are easily more recognizable than some of the American track & field stars.
Doing due diligence is always a good strategy to adopt before placing bets. To get a sense of each sport, researching the result of past Olympics, as well as recent world championship events and various qualifying competitions, will give a sports bettor a better indication of the lay of the field before betting.
The 2020 Tokyo Games Postponed to 2021
Due to the coronavirus pandemic, the Tokyo Games were postponed until the summer of 2021. It wasn’t a decision the IOC or Japanese organizers took lightly, but it was necessary under the circumstance of a global pandemic, with all the uncertainty it entails.
As it is, the Tokyo Games are rescheduled for July 23 – Aug 8, 2021 and the Paralympics follow suit from Aug24 – Sept 5. To mark the unprecedented occasion – it’s the first time since World War II that the Olympics were rescheduled in peacetime – the Olympic clock’s countdown was adjusted to reflect the new start date on March 31.