Olympic Games

Brief Olympics History

The Olympics is one of the most well-known international games in the history of sports. Thousands of athletes compete for their country in an attempt to win a medal by placing in the top-three in their respective events.

The Olympic Games are held every four years, with the Summer Olympics being played every leap year while the Winter Olympics are two years after the Summer Olympics. There are hundreds of events in a two-week period that are going on that catch the eye of millions of people in the United States and around the globe.

Introduction to Olympics Betting

The uniqueness of olympics betting, whether it is the Summer or Winter versions, is that you are looking at an event that happens every four years. You’re also watching the top athletes across the entire world competing against one another so that narrows the talent gap between competitors.

Another unique thing about betting on the Olympics is that multiple events are going on at the same time. One simplistic wager that tends to be popular is an all-encompassing bet on which country will win the most gold medals in that year’s Olympics. However, you can dive deeper and bet on individuals to win the gold medal in an event or in a team aspect. 

Olympics Betting Stats

The betting stats for the Olympics are hard to follow as most athletes, especially on the individual events, are only competing in this Olympics and that means you have to dive a bit deeper. Looking at world events in between each Olympics is where we will get that. 

However, there also are stats you can look at within the Olympics such as the Men’s Basketball Gold Medal has been awarded to the United States in each of the previous three Olympics. It’s a bit of extra homework but just look at results from major events throughout the four-year cycles. 

Olympic Betting Trends

Trends are an easier way to understand what has happened in previous events to supplement your research into the statistics. It helps the bettor understand what has happened in previous events and will make it a lot easier to confirm whatever wager you are willing to make. Do not take trends as gospel though as they are only showing past results and things can happen over the course of the events. 

How to Bet Olympics

The biggest thing that you can bet on that is an all-encompassing “Which Country Will Win the Most Gold Medals at The Olympics” wager but there are team events (basketball for example) that are like typical sports wagers. When looking at an individual event compared to the entire Olympics, there is going to be a favorite and you will be given odds for each team/individual to win the event.

Using statistics from their previous events in that field, you can get to understand. Some people have competed in the previous Olympics in that event as well so they have previous performances to look on. It all depends on how you will look at attacking this huge event. 

Olympics Betting Tips

One major tip is to not feel overwhelmed. Some people try to wager on most of the events that are going on but that can be a complete mess as there are a large number of things going on. Go in and focus on a handful of events to understand what is the best plays for you and why because you will make a lot more money back on your wagers that way instead of betting on a Czech badminton player you had no idea existed until you saw their name on the screen and have the need to wager on. 

Favorites and Underdogs

In the midst of competition, even at the ultimate level such as the Olympics, there is going to be a skill difference depending on a variety of factors. That is where the favorite moniker is established as that person/team is more likely to win. However, it is not an equal 50 percent chance of them winning so the odds are going to dictate the likelihood of it happening and indicate the odds. The favorite will be indicated to the bettor with a minus sign while the underdog is distinguished with a plus sign. 

There is a connection to the point spread and the moneyline (which side will win outright) as the favorite on the moneyline is going to be favored on the point spread as well and vice versa. Do not be afraid of choosing one side to cover the point spread but lose the event outright as that happens. 

Olympics Betting FAQ

What is the best wager to make on the Olympics?

That varies between events and which Olympics you are watching. The all encompassing most medals wager is typically the best to view the Olympics as a whole compared to a single event.

Which events should I watch to know what to bet when the Olympics are on?

Research the previous competitors in the Olympics and see when they are competing next. Typically in solo sports, they compete in a few events per year while team sports are playing in a season but not always as a single team.

When is the next Olympics?

With the Coronavirus altering the Olympics schedule, they are going back on course meaning the Summer Olympics will be played in 2024 as per usual and the Winter Olympics will be in 2026.

What countries have a realistic shot at winning the most medals?

Typically there are only a couple of countries in the running for the most medals. The United States is one of them but depending on the global decisions, Russia and China are also competitive on that front.

Which events are the best to bet on?

That depends on which event(s) you are willing to place a wager on and invest some research into and watching the results. It is completely up to you, but keep an eye on the odds as well.
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