The coronavirus crippled travel and triggered global lockdowns, which necessitated the postponement of the 2020 Tokyo Summer Olympic Games to 2021. The betting markets are heating up as online sportsbooks release betting lines and Olympic betting odds.
With the opening ceremonies for the Tokyo Olympics drawing closer and increasing new legal betting markets, we expect to see a significant uptick in online betting volume. Our experts share advice and tips for navigating the ins and outs of betting on the Olympic Games.
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With bettors searching for proverbial gold medals, follow our step-by-step process to learn about how to choose an online sportsbook and identify the features you need to place your Olympic bets.
Trust and securityAthletes train intently for this moment and leave nothing to chance. The same goes for selecting a sports betting partner. Safety and security, along with unshakeable software, is one way to reach the betting podium.
CoverageThe global reach of the Olympic Games extends to the comprehensive broadcast coverage devoted to competitions. All crucial matches and events are televised, making tuning in to watch one of the best ways to get familiar with the athletes and their teams.
Betting oddsNailing the dismount is key to securing the podium, and landing the best price for your Olympic bets is another key to a successful betting strategy. Select oddsmakers are not inclined to take on the risk of paying out at big odds, but the best Summer Olympic betting sites found on our list offer fair odds.
BankingThe recommended betting sites offer plenty of banking methods and options. Getting your funds in and out of a betting site should not be a marathon, so make effortless transactions a high priority.
Bonuses and promotionsAs a new user, you are more than likely in line to receive a welcome bonus. These offers consist of a free bet or deposit match. Take advantage of as many different bonuses and promotions as possible but review the fine print for these sports betting bonus offers and promotions.
Mobile interface2021's most trusted betting sites boast a dedicated mobile app or mobile-friendly interface. Smooth navigation and a user-friendly interface help avoid mistakes. Mobile betting platforms enhance critical features like live betting.
Customer serviceSites that offer 24/7 customer support are worth their weight in gold. There's nothing wrong with asking questions, and we advise all bettors to choose an online sportsbook partner that supports live chat and email, too.
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Olympic betting operates similarly to other sporting competitions. Researching the sports, teams, and individual competitors will provide you with the knowledge needed to line up the types of wagers you can place. Betting on country Olympic medal counts requires knowledge of the athletes and teams, while information on individual sports can be found in familiar new sources.
Leveraging a betting strategy that includes bankroll management and setting betting limits will keep you in and your funds in check. The payoff or stakes for the Olympics are different, but it is still sports at the end of the day.
Betting on the Olympic Games online is more accessible and less strenuous than training for its demanding athletic competitions. Follow our step-by-step registration process to get started.
Once you've chosen a reputable online sportsbook partner, tap the sign-up or create an account button and follow the prompts. Enter personal information, like your full name, date of birth, and address.
Before placing any wagers, you'll have to add real-money funds to your new account. The 'deposit' or 'cashier' button is typically located within the account or profile section. Choose the deposit method that you are most comfortable with using.
Place your bets by clicking or tapping on the desired betting lines. Identify and enter the amount you intend to stake and confirm the action. The newly made selection will appear on your betting slip and discloses the potential payout for your wager.
Reaching the podium is special and hitting on your Olympic Games bets is exhilarating. Accessing your winnings once the event has concluded is a top priority. Those funds can either be withdrawn or kept in your account for future wagering opportunities.
The Tokyo Summer Olympics — scheduled to run July 23 - Aug. 8 — are set to feature 33 competitions and 339 events held at 42 venues. Depending on the online sports betting site selected, Olympic odds should be available for most events in addition to live betting odds for supported team sports.
At the top betting sites, you'll find a variety of sports, including several niche sports, popular events, and heavy favorites. Look over our how to bet guides to become more familiar with some sports and terms. These are some of the popular Summer Olympics betting favorites:
Olympic betting lines on gymnastics revolve around wagers made on a country or individual female or male athlete to take home the victory or gold medal. Team USA gymnast and decorated Olympian Simone Biles has qualified for the Tokyo games.
Olympic soccer has the same look and feel as prestigious tournaments like the European Championships and World Cup. While the opening ceremony takes place on July 23, the soccer competition starts on July 21.
Thanks to elite NBA and WNBA talent, Olympic basketball is big for viewers and bettors. USA basketball and their respective men's and women's basketball teams dominate the Olympic competitions and medal count. The men have claimed 15 gold medals, and the U.S. women have won gold eight times.
The world's best track and field athletes participate in arguably the most exciting Olympic events, highlighted by the 100-meter dash and relay races. The absence of Jamaica's Usain Bolt opens the door for a new crop of sprinters looking to make their mark. Track and field yield a wide range of events, which provides plenty of betting opportunities at legal sportsbooks.
Golf returned to the Olympics in 2016 following a 112-year absence. The men's and women's competitions are back for Tokyo, with 60 players representing their respective home countries. All three male medalists from the 2016 Rio Olympics — Justin Rose, Henrik Stenson, and Matt Kuchar — failed to qualify for Tokyo.
Like tennis' Grand Slam tournaments, you'll find men's and women's singles and doubles events, plus mixed doubles draw in Tokyo this summer. Bonafide stars have buoyed the sport, and as sports wagering expands across the U.S., interest in tennis and interest in betting on the sport is increasing, too.
Similar to track events, swimming is an Olympic event that garners significant attention from bettors. TV viewership soared on the back of U.S. swimmer Michael Phelps and his record-run of 23 gold medals. With 35 events scheduled, U.S. sportsbooks in legal jurisdictions will soon post their Summer Olympics swimming odds.
Wagerers can choose from more than 300 various sporting events during the Olympic Games. The Summer Olympics is more prominent in scope than the Winter Olympics due to the number of events. Let's review the most appropriate Summer Olympics betting options:
Betting the moneyline is the most straightforward way to wager on teams or individual athletes. Here, you are picking the winner, whether it is a team or an individual athlete.
Olympic team sports is where you'll find spreads most commonly used. This is where oddsmakers handicap the favorite and strive to get more betting on both sides.
Online sports betting sites list several futures betting options that cover most events during the Olympic Games, with the total medal count serving as the most important. The odds on which country will win the most gold medals are typically available in advance of the Olympics.
For Olympic Over/Unders, you are wagering whether a particular country will earn more (over) or under (fewer) the total number of gold medals set by the sportsbook. Totals serve as head-to-head bets pitting two nations against each other.
Olympic prop bets consist of wagers made on the performance of an individual athlete, like the number of events a swimmer will win or identifying the top goal scorer in the soccer competition. Prop bets are betting on an event not directly affecting the game's outcome.
We advise you to register with legal and local sportsbooks despite the wide variety of offshore gambling sites. With the Covers community's assistance, we have identified several sports betting sites involved in unlawful business practices. Those findings revealed issues related to late payments or bets not honored, in addition to poor customer service. Avoid these blacklisted betting sites at all costs.
Olympic sports betting comes around every four years — outside of the Tokyo games' circumstances — and alternates between the Summer and Winter Games every two years during the four years. The vast range of sports and available legal betting markets translates to potentially lucrative summer games. Follow these online gambling tips for a shot at the betting podium:
Yes, you can bet on the Olympics with one of the online sportsbooks identified earlier. The Olympics is a massive global event that dominates betting sites.
Depending on the betting site, you must be at least 18 years of age to wager on the Olympics legally.
Yes. The most trusted Olympic betting sites will extend new players a sign-up bonus.
Medals will be awarded for 339 events across 33 different sports during the Summer Games.
