After a global pandemic wiped sports off the map, the Tokyo Olympics were a welcome return to normal. The Beijing Olympics followed the delayed Tokyo Olympics by six months. So, it follows a major betting event unusually quickly. In this guide, we’ll cover the best sportsbooks for Olympics betting so bettors can take advantage of this opportunity. When they’re available, we’ll also go into detail into the odds on all the sports, star athletes, and bets.
Beijing Olympics Updates And Promotions
Each sportsbook offers many seasonal promotions. The Olympics are no exception. We are anticipating Olympic betting promotions and bet boosts to be announced in the weeks leading up to the Beijing Olympics. So, bettors should keep an eye out for new Olympics sections to open in their sportsbooks.
Where To Bet On The Olympics
Betting on the Olympics is available in most if not all states where sports betting is legal. Because all the events have concrete and well-understood rules, basically every state allows Olympics betting. Almost half the country has legalized sports betting. About two dozen states allow betting at retail sportsbooks, but only around a dozen states allow mobile betting. However, Olympics betting is one of the few reliable constants across the country. (College sports are not so lucky.) But when the Olympics begin, those betting lines will be especially popular.
As we get closer to the Olympics, most sportsbooks will set lines for various events. We will update our page when the Olympics lines are published and provide a list of sportsbooks with lines and bonus offers.
Of the country’s eight biggest sports betting markets, six of them allow full betting on the Olympics:
Types Of Bets On The Olympics
Olympics betting is similar to regular sports betting. The details change, but bettors will find moneylines, totals, and futures bets just like everywhere else. Bettors will find wagers on things like how many gold medals Americans will win during Olympic events. They can also find wagers on outright event winners and easier wagers on the top sports. According to Forbes, swimming, gymnastics, and track are consistently among the most popular Olympic sports. So watch them especially carefully.
Olympic Prop Bets
While every major sporting event has ridiculous prop bets, something about the Olympics brings out oddsmakers’ inner crazy. Bettors will find regular prop bets, like team props, individual props, and of course, bets on the opening ceremony. Betting on whether the torch will go out before the last person finishes their run to light the flame is one thing. But some real Olympic prop bets collected by Business Insider include:
- Whether Boris Johnson would accidentally light his hair on fire with the Olympic torch.
- Whether Jay-Z’s and Beyonce’s baby, Blue Ivy Carter, will win an Olympic gold medal in her life.
- Whether a UFO will fly over the Olympic stadium, but only if Barack Obama or David Cameron confirmed the UFO proved that extraterrestrial life was real.
Enjoy the latest season of international competition and goodwill.
Live Betting During The Olympics
Sports betting apps offer live in-game betting during the Olympics. Live betting is one of the most popular and profitable (for sportsbooks) forms of sports betting. One team of DraftKings analysts found that 75% of UK internet sports betting revenue comes from in-game micro-bets. Micro-bets are bets on the next play’s outcome, which are the subjects of many a living room brawl. Sportsbooks won’t miss the chance to profit from live betting where it’s applicable at the Olympics.
Live betting is great if bettors know an athlete’s or team’s performance tendencies. But bettors have to know whether teams and players have weak or strong beginnings, weak or strong endings, and exploit the odds changes throughout the match accordingly.
Good luck studying.
Olympic Betting Odds
The way Olympic odds move up to and during the games is similar to what bettors will find in regular-season sports. Odds are set by oddsmakers who are intimately familiar with the sport they set odds on. However, they’re also financial geniuses who understand how to hedge risk. They know how to tweak the odds to ensure that sportsbooks don’t have to pay too much in winnings. (Sportsbooks aren’t offering sports betting out of the goodness of their hearts.)
Some of the most popular wagers include picking winners and predicting point totals. It’s exciting to see how far Olympians can push themselves. However, odds can change dramatically depending on international doping scandals and revelations about athletes. Anything that can shake an athlete’s focus can tweak the odds. The stage is more public, but the factors affecting odds changes are largely the same.
How To Bet On The Olympics
Betting on the Olympics is easy. All bettors have to do is find a sportsbook, register for an account, then make their first deposits to start betting. While some states have long lists of sportsbooks to choose from, others only let a few operate. But once bettors have chosen a sportsbook, they have to create accounts. That includes standard login information and more personal information like social security numbers. The registration section also usually comes with a space to enter a promo code. Other bonuses can be claimed by following instructions in the sportsbook’s promotions section.
After that’s done, bettors can make their first deposits, click a set of odds, and put some money on a sports wager.
FAQs – Olympic Sports Betting Odds
Yes. As long as a bettor’s state allows Olympics bets, then bettors’ Olympics wagers are legal. Bettors also have to bet at licensed sportsbooks. Don’t go betting offshore at websites that are less secure or familiar than the strictly regulated homegrown sportsbooks.
Paris. The 2024 Olympics will begin on July 26 and end on August 11. The time zone change will be smaller than it was during the Beijing Olympics. So, American sports bettors could have more live betting opportunities during the Paris Olympics than the Beijing or Tokyo Olympics.
Beijing. China is hosting the 2022 Winter Olympics from February 4-20, 2022. It comes on the heels of the delayed Tokyo summer Olympics, so Olympics bettors will get to place bets in quick succession.
Yes. Watching the Olympics is an exciting time. Where there are popular sports, there are oddsmakers preparing to offer bets on them. However, the United States has a healthy and well-regulated sports betting industry now. Not every state has it, but the ones that do are looking forward to their first legal Olympic Games.
Yes. Olympic prop bets include standard team props, like which team will win the most medals. Similar bets are available for individuals. But the prop bets can be ridiculous, like whether a British athlete will be photographed eating a Big Mac. In their props sections, sportsbooks offer something for everybody.
In most if not all states where sports betting is legal. Bettors just have to place their wagers at legal, licensed sportsbooks. Bettors who don’t live in states with legal sports betting can also travel to states that do. They can create accounts from out of state, but they must be in-state to place wagers.