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Guide to Olympics Betting
In this guide to Olympics betting, we’ll take a look at the most popular events to wager on for both the Summer and Winter Olympics. Plus, we’ll identify how you can find betting value, even on the most obscure events.
If you’re looking to make money from the Olympics craze, this is the article for you. You’ll also find some helpful tips for maximizing profit and making smart wagers.
Can You Bet On The Olympics?
While the Olympics represent the pinnacle of athleticism, it’s not as large a betting event as you might expect. Sure, you can wager on which country will take home the most medals, or who will win a specific event. But, there’s not much more to bet on, at least currently.
Props wagers on the Olympics are scarce, in part because sportsbooks don’t see much action on those kinds of wagers. For leagues like the NHL or MLB, props make sense because there are many fans that want to bet on their favorite players. The Olympics are more of an entertainment event than a betting event, since most people aren’t familiar with all the athletes who are competing.
However, that doesn’t mean there isn’t value to be found in the Olympics section of the sportsbook! With the right amount of research, you can make informed wagers on medal totals and specific event outcomes.
Olympics Betting Picks
Winter Olympics Betting
The Winter Olympics happen every four years and pits athletes from around the world in competitions that focus on snow and ice, such as skiing and hockey. The next Winter Olympics will be held in February 2026 in Milan and Cortina d’Ampezzo, Italy.
Winter Betting Events
Figure Skating
Figure skating is all about grace and the technical difficulty of each movement. You can wager who will win the gold medal (individual or pairs), point spread on a skater’s total score, and over/under on the number of falls in the competition.
Ice Hockey
You can bet moneylines on which team will win the game, puck line (similar to point spread in basketball), which team will score the most goals in the period, and if the game go into overtime. Betting on ice hockey during the Winter Olympics is akin to betting on the NHL.
Alpine Skiing
There are many categories for alpine skiing, including downhill, super-G, slalom, giant slalom, and combined. You can bet on who will win the gold medal in a specific discipline, over/under on the total race time, and margins of victory between the top competitors.
Curling
Curling is similar to bocce ball, but on ice. You can wager on which team will score the most points in an end (similar to an inning in baseball), how many total points will be scored in the game, and if there be an extra end to decide the winner.
Snowboarding
Similar to skiing, snowboarding has a few disciplines, such as halfpipe, slopestyle, snowboard cross, and big air, showcasing impressive aerial tricks and technical riding skills. You can find action on who will win the gold medal in a specific snowboarding discipline, the difficulty and execution of tricks attempted, and the margins of victory.
Other Winter sports to look out for include bobsleigh, luge, ski jumping, and speed skating.
Summer Olympics Betting
The Summer Olympics happen once every four years and focus more on water sports than its wintry counterpart. Events include surfing, water polo, and many other fair-weather sports, such as golf and rugby.
The Summer Olympics also are the closest we get to the traditional ancient Greek Olympics, with the athletics category encompassing racing, javelin, shot put, and more.
The next Summer Olympics will be held in Paris, France from July 26th to August 11th, 2024
Summer Betting Events
Track and Field (Athletics)
This category is the heart of the Summer Olympics, encompassing various running, jumping, and throwing events. You can wager on who will win the gold medal in a specific race (100m dash, marathon, etc.), which country will win the most medals in athletics overall, and if a world record will be broken.
Track and Field (Athletics)
Swimmers compete in various distances and strokes, each demanding a unique skill set. Similar to athletics, wagers can include who will win the gold medal in a specific swimming race (100m freestyle, 200m butterfly, etc.), will a world record be broken, and over/under on a swimmer’s time in a race.
Gymnastics
Gymnasts compete on various apparatuses like the uneven bars, vault, and pommel horse, requiring exceptional control and precision. Wagers for gymnastics include who will win the gold medal in the individual all-around competition (men’s or women’s), which team will win the gold medal in the team competition, and will a gymnast score a perfect 10.0 on an apparatus.
Basketball
As one of the most popular sports in general, basketball at the Olympics is a big deal. You can wager on moneylines on which team will win the game, point spread (how many points will one team win by), and over/under on the total points scored in the game. Betting on Olympic basketball is similar to NBA basketball betting.
Tennis
Players compete for medals in men’s singles, women’s singles, doubles, and mixed doubles. Typical wagers include who will win the gold medal in a specific singles competition (men’s or women’s), will the match go to five sets, and over/under on the total number of games played in a match.
Other sports that happen at the Summer Olympics include surfing, water polo, golf, martial arts, fencing, biking, and sailing, among others. These sports are fun to watch, but not as popular for bettors.
Futures Odds on the Olympics
In addition to betting on individual sports, you can also place futures wagers on the outcome of the Olympics. This means you can bet on which country will receive the most medals overall, yes/no wagers on total number of medals for each country, as well as who will win each event outright..
| USA GOLD MEDALS TOTAL | MONEYLINE |
|---|---|
| Over 39½ | -120 |
| Under 39½ | -120 |
For those that aren’t invested in a certain team’s performance, betting on which country will win the most medals is the way to go. Based on historic performance and stats culled from Wikipedia and other venues, you can make some educated guesses about which country will come out on top. As you can see here, the USA is heavily favored in the 2024 Summer Olympics.
| OLYMPIC GAMES 2024 – MOST MEDALS | |||
|---|---|---|---|
| USA | -2500 | China | +1000 |
| Japan | +5000 | Great Britain | +5000 |
| France | +8000 | Italy | +20000 |
| Germany | +20000 | Australia | +20000 |
| Canada | +30000 | Netherlands | +35000 |
| New Zeland | +50000 | Hungar | +50000 |
| Cuba | +50000 | Brazil | +50000 |
| South Korea | +100000 | ||
How to Find Profitable Olympic Betting Odds
There are a few ways you can find profitable bets to place on the Olympics. Here are some of the best practices for finding value.
Read up on Team/Sport Coverage Before the Event
Researching wagers for sports like American football or Euro soccer is a bit easier than researching the Olympics, simply because there’s more that happens throughout the year that impacts those sports.
But, you can still look at historic performance records for the Olympics to get a sense of what good wagers are. For example, it’s almost always worth it to bet on larger countries like the US to win the Summer Olympics. Another good example would be betting on Scandinavian countries or Russia to do well in the Winter Olympics, since their climate is better suited for practicing skiing, snowboarding, and other winter sports.
Check Sportsbooks for Unique Lines
As we mentioned, Olympics betting isn’t as popular as betting on a sport with a regular season schedule. That’s why you should shop around at a few different bookies to see which offer wagers, and which have better odds.
For example, DraftKings only has odds on the final outcome – who will win the Olympics – and nothing else. Contrastingly, BetUS has a bit more variety, with yes/no on medal totals for each country and the individual winners for athletics and cycling. If you’re serious about betting on the Olympics, finding the right wagers is key.
Use a Professional Handicapper
Professional handicappers can help you get an edge against sportsbooks while betting on the Olympics. You have to do a lot of digging to come up with value, so leaning on professionals is often a good practice.
Handicappers have the time, knowledge, and resources to provide high-quality wagers for the Olympics, which shouldn’t be ignored. These folks make their living giving you the best wagers possible, so paying for a pick subscription during the Olympics might be worth your while.
Tips for Betting on the Olympics
The Olympics are pretty exciting, and there’s a great deal of national pride at stake for Summer and Winter Olympics alike. However, we urge you to remain objective while betting, and avoid making emotional wagers because you want your country to do well.
Here are a few other tips that can help you be successful with the Olympics:
Set a Budget
This one is a no-brainer. Unless you’ve waited years with bated breath for the Olympics, chances are you’re not a pro. In that case, make sure you place conservative bets and stay within your bankroll.
Set an amount you’re willing to lose and only wager that much. Sometimes the Olympics can be unpredictable, but staking your entire bankroll on an underdog isn’t advised. Instead, consider breaking up your money into smaller wagers, or even hedging your bets at multiple sportsbooks. If you’re savvy with money, you can see some profit from the Olympics even if you’re not an expert on any one event.
Avoid Betting Long-Shot Futures
Betting on the final outcome at the beginning of the Olympics can be tempting (especially if you’re looking at a nice payout), but exercise caution. A lot can happen throughout the event, and you don’t want to be kicking yourself when your wager falls short. .
Instead, wait a little while before placing an outright wager. You can look at the performance halfway through the Olympics and weigh your options. Even a little bit of data is better than none when it comes to placing futures. The odds might not be as good, but if you’re patient and diligent, you can still make money.
When in Doubt, Pick One Event
There are more than a dozen events at the Summer and Winter Olympics each, and it’s impossible to stay up to date on all the athletes’ stats and performance. Instead, choose one event that you’re interested in and dive into the information available..
For example, if you choose cycling, look at each of the biker’s track records, current physical condition, etc. You can then pick a cyclist to win outright more confidently.
With any kind of betting, a good rule of thumb is that a wealth of knowledge about one sport is better than a general knowledge of all of them. The same applies here.
How to Be Successful at Olympics Betting
Betting on the Olympics isn’t as popular as wagering on a sport with a regular season, but it’s still a good opportunity to flex your critical thinking skills. Finding the right wagers can be tough, but if you do some thorough research and look at historical data, you should have a good idea of Olympics betting trends.
One of the best ways to ensure you make money on your Olympics bets is to subscribe to a pro handicapping service. These guys make their living off providing you with the most value possible, so they have to be at the top of their game.
Scores and Stats has a team of talented handicappers who are hard at work prepping wagers for the Olympics. Let them do the grunt work for you, so you can sit back and enjoy the show. Join our premium handicapping subscription today.
