After a global pandemic wiped sports off the map, the Olympics are a welcome return to normal. With the Olympic Games come Olympic sports betting. Olympic betting comes around once an Olympics season, so Olympics odds are worth understanding. In this guide, we’ll cover the best sportsbooks for Olympics betting. And when they’re available, we’ll go in deep into the odds on all the sports, nationalities, and star athletes.
Men’s 2021 Olympic Odds
The Olympics men’s basketball team is strong when it’s thrust onto the world stage. It has medaled in every Olympics that it’s participated in, usually winning gold medals. So, it’s unsurprising to see the United States as the hands-down favorite for winning the gold medal in Tokyo. We’ve included updated odds below.
- USA -305
- Spain +800
- Serbia +800
- France +1700
- Australia +2500
The United States men’s team has had a rough three years. For the third year in a row, they failed to qualify for the Olympics. But the countries that did make it promise some of the best football in the world.
- Brazil +275
- Spain +300
- France +400
- Argentina +450
- Germany +450
This year’s men’s Olympic volleyball team is ranked third in the world going into Tokyo. It’s not the powerhouse that the women’s team is this year. But the United States still has a solid shot at the gold and certainly a good chance of medaling in men’s volleyball.
- Poland +240
- Brazil +325
- Russian OC +325
- France +550
- USA +550
The United State’s 3×3 men’s basketball team won’t be going to the Olympics this year. We lost to the Netherlands in the quarterfinals, so the Dutch are heading to the Olympics instead of us. It was a surprise, but there’s a strong lineup in 3×3 basketball among the Olympic qualifiers nevertheless.
- Serbia +120
- Latvia +250
- Netherlands +700
- Russian OC +700
- Poland +1500
The United States didn’t qualify for men’s field hockey this year. However, the lineup will include a fierce contest that pits Austrailia, Argentina, and Europe against each other.
- Australia +300
- Belgium +300
- Germany +550
- Netherlands +550
- Argentina +1150
Early in 2021, the United State’s men’s handball team had to withdraw from the handball world championship because of a coronavirus outbreak on the team. So, the United State’s men’s handball team didn’t qualify for the Olympics this year. But here are the top five teams according to DraftKing’s odds.
- Denmark +250
- Spain +280
- Norway +320
- France +500
- Sweden +700
The United State’s men’s rugby team is going to Tokyo this year, so American bettors have plenty to be excited about. However, New Zealand and Fiji will make fierce competitors. Here are the odds on the top five most likely winners.
- New Zealand +250
- Fiji +275
- South Africa +300
- USA +700
- Great Britain +1100
The men’s water polo team is going to the Olympics this year. However, it’s not favored to win the gold. Eastern Europe and Italy are vying for the top spot and one of them is expected to take it.
- Hungary +250
- Serbia +285
- Croatia +400
- Montenegro +500
- Italy +600
Women’s 2021 Olympic Odds
The Olympic women’s basketball team is 17-1 going into the Olympic games. It’ll be a force to be reckoned with, making the United States the clear favorite for coming out on top in this sport too. The rest of the world just hasn’t caught up to the United State’s basketball prowess.
- USA -1250
- Australia +1000
- France +2000
- Spain +2500
- Serbia +3000
The United State’s women’s soccer team is one of the best in the world. It beat Portugal and Jamaica on the way to qualifying for the Olympics. They’ve won four gold medals and six silver medals, making them a formidable team in Tokyo.
- USA -125
- Great Britain +500
- Netherlands +650
- Brazil +1100
- Japan +1100
The United States has a fair chance at winning the gold in women’s volleyball this year. China and Italy are as close to the two favorites as the odds come. But the United States still holds the record for most gold medals in Olympic volleyball. Even better, this year’s women’s Olympic volleyball team is ranked number one in the world. The United States faces stiff competition, but it has a fair shot at the gold.
- China +255
- Italy +255
- Serbia +300
- USA +300
- Brazil +1000
The women’s basketball 3×3 team is going to the Olympics with a 6-0 record. They’re undefeated, and they’re ready to go for the gold in Tokyo. Unsurprisingly, they’re as close to a favorite to win as we could find.
- USA +150
- France +200
- Russian OC +600
- China +700
- Italy +1500
The United States didn’t qualify for women’s field hockey in the Olympics, either. But field hockey fans will not be disappointed. The main contenders to win look similar to the men’s field hockey countries. Both events will offer nail-biting action that’ll be worth following.
- Netherlands +150
- Australia +400
- Germany +400
- Argentina +550
- Great Britain +1000
The United State’s women’s handball team didn’t qualify for the Tokyo Olympics. However, the United States struggles to create competitive handball teams. It’s not a popular American sport and athletes who do get into it join later than athletes in other sports. But here are the best odds on the countries that did qualify.
- Norway +150
- Russian OC +250
- France +400
- Netherlands +1400
- Hungary +1500
When the Olympics brought rugby back as an Olympic sport, it returned with women’s rugby too. The United State’s women’s rugby team qualified this year, and they will have to work to beat New Zealand’s fierce women’s rugby team.
- New Zealand -265
- Australia +600
- Canada +750
- USA +900
- Great Britain +2000
The United State’s women’s water polo team is going to Tokyo this year, too. But unlike the men’s team, it’s heavily favored to bring the gold home.
- USA -335
- Spain +700
- Australia +800
- Netherlands +1100
- Russian OC +1100
Nation With Most Gold Medals
The United States will almost certainly come away from the Olympic Games with the most gold medals. It holds the most medals won and most gold medals. It’s not a close competition either. The next country down the list is Germany with 283 gold medals. The United States has won 1,127. While we always enjoy surprises and upsets, this category is one of the United State’s strongest.
- USA -1000
- China +600
- Japan +2000
- Great Britain +2500
- Russian OC +2500
- Total Number of Medals: Over 110.5 (-134) / Under 110.5 (-106)
- Total Number of Medals: Over 113.5 (+120) / Under 114.5 (-167)
- Total Number of Medals: Over 85.5 (+100) / Under 85.5 (-139)
- Total Number of Medals: Over 59.5 (+100) / Under 59.5 (-139)
Odds from DraftKings Sportsbook
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:
Best Sportsbooks For Olympics Betting
You can’t really go wrong when choosing a sportsbook. The options available all give bettors plenty of bonus options, competitive betting lines, and ongoing promos. It’s safe to assume the major oddsmakers will feature some robust Olympics promos and content, too. If you have multiple sportsbooks available to you, check them all when the Olympics begin. Some of our top recommended sports betting sites include:
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.
Tokyo. The 2020 Olympics were pushed to 2021 because of the pandemic. They begin July 23 and end on August 8. Hopefully, vaccine rollouts will be successful enough for the Olympics to feel more like real life than the last year and a half.
Beijing. China is hosting the 2022 Winter Olympics from February 4-20, 2022. By then, the world should be back to normal. But no one in the world thought a plague was coming in mid-December 2019, either. Hopefully the 2022 Olympics aren’t rescheduled to accommodate another global catastrophe.
Yes. Watching the Olympics is an exciting time. And 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.