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.
Top Sportsbooks For Olympics Betting for September 2021
There are many major sportsbook brands that would make strong choices for sports bettors. However, they come with different strengths and weaknesses. Here are some of the best sportsbooks for different bettors:
- FanDuel: Best for one of the largest risk-free bets on the market and strong odds on underdogs >> Claim $1,000 Risk-Free Bet For New Bettors >> New users only – Bet $10 on any Olympics market, get $100 in site credits. Bet $20 on any Olympics market, get $200 in site credits.
- BetMGM: Best for competitive odds overall. Good for bettors who don’t want to odds-hunt across sportsbooks >> Claim $1,000 Risk-Free Bet For New Bettors
- DraftKings: Best for largest sport and line selection, one of the largest deposit bonuses, and strong odds on favorites >> New Bettors Can Claim a $50 Free Bet with $5 Deposit + $1,000 Deposit Match Bonus
- BetRivers: Best for its rewards program. Great for high-rollers who consistently make large wagers >> New Bettors Can Claim $250 Deposit Match Bonus
Tokyo Olympics Updates And Promotions
Each sportsbook also comes with many daily promotions. So, check back often to see whether a bonus can help their money go further. We are anticipating Olympic betting promotions and bet boosts to be announced throughout the Olympics. However, here are some of today’s featured sportsbook promotions:
- FanDuel: USA Gold Medal Bonus – Place $100 or more in wagers on the Olympics before July 26. Bettors will get $1 in site credit for each gold medal the United States wins during the Olympics
- DraftKings: Olympic Men’s Basketball Scoring Special – Place a qualifying bet of $50 or more on the USA/France match on July 25. Bettors receive $1 towards a free bet for every point the United States wins by.
- BetMGM: Team USA Basketball Bet and Get – Place a $20 bet on the USA Basketball team during the Tokyo Olympics, and get a $5 free bet in return.
- BetRivers: Bet at least $500 on the Olympics and get $1 for every bronze medal the United States wins. Bet at least $1,000 on the Olympics and get $2 for every silver medal the United States wins. Bet at least $2,500 on the Olympics and get $3 for every gold medal the United States wins. These bonuses stack, so a bettor who wagers $2,500 gets to reap all three rewards.
Check back often as we update Olympics promotions from major sportsbooks.
Men’s 2021 Olympic Odds
The Olympics features many different combat sports. From boxing to taekwondo, combat sports fans will find plenty of events to support during the Olympics. We’ll update this list daily with the next few matches in each sport. Odds are provided by DraftKings:
Boxing – Keyshawn Davis vs. Andy Cruz
- Davis +290
- Cruz -400
Boxing – Jalolov vs. Torrez
- Khyzhniak -800
- Sousa +550
Olympic track and field include several events, including the 100-meter dash, 400-meter hurdle, pole vault, and javelin throwing. There are many more events that DraftKings adds seemingly daily. FanDuel has also added lines on some track and field events that DraftKings has not yet. Unless otherwise stated, here’s how DraftKings stacks the track and field Olympians up:
- Eliud Kipchoge – Kenya -200
- Lawrence Cherono – Kenya +350
- Shura Kitata – Ethiopia +750
- Amos Kipruto – Kenya +1100
- Sisay Lemma – Ethiopia +1200
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. Updated odds provided by FanDuel:
Montenegro vs. Italy
- Montenegro +160
- Draw +500
- Italy -140
Croatia vs. USA
- Croatia -300
- Draw +650
- USA +360
Hungary vs. Spain
- Hungary +125
- Draw +480
- Spain -105
Greece vs. Serbia
- Greece +210
- Draw +500
- Serbia -175
Women’s 2021 Olympic Odds
History has already been made in women’s combat sports during the Olympics. Anastasija Zolotic became the first American woman to win the gold in taekwondo. Bettors should be on the lookout for more records during women’s combat events. Updated odds are provided by DraftKings:
Boxing – Kellie Harrington vs. Beatriz Ferreira
- Harrington +170
- Ferreira -210
Boxing – Lauren Price vs. Qian Li
- Price -230
- Li +185
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. Odds are provided by DraftKings:
Brazil vs. USA
- USA -185
- Brazil +150
South Korea vs. Serbia
- South Korea +1100
- Serbia -2800
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. Updated odds are from DraftKings:
Japan vs. USA
- Japan +1000
- USA -2000
Women’s gymnastics is easily one of the most popular Olympic events. However, betting lines on it are often sparse, because futures bets are some of the only viable bets and it must exclude betting on athletes under 18. Updated odds are provided by DraftKings:
Rhythmic Team All-Around
- Russian OC -450
- Bulgaria +260
- Israel +900
- Italy +1200
- China +1600
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. Updated odds are provided by BetMGM:
Norway vs. Sweden
- Norway -350
- Draw +1100
- Sweden +360
Nation with Most Gold Medals Odds
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.
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.
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.