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Olympics Betting Guide

The Olympic Games is arguably the most important of all sports events. Every four years, the Olympics feature thousands of top athletes from all around the world. Even those who don’t usually enjoy sports tend to pay at least some attention to the event.

With so many different sports and disciplines covered, there are many Olympic gambling opportunities. Before we talk about those opportunities in detail, and explain how to make money from them, here are the best betting sites for the Olympics.

Rank VA Betting Site Exclusive Bonus Get Started
#2 50% Up To $1,000 Visit Site Visit Site
#3 50% Up To $250 Visit Site Visit Site
#4 50% Up To $1,000 Visit Site Visit Site
#5 50% Up To $1,000 Visit Site Visit Site

These trusted Olympics betting sites and apps cover every edition of the games, offering excellent odds and great promotions. Compared to some of the other online betting sites available, they are simply miles ahead.

This Olympic betting guide will teach you how to get the most out of using them. We provide tips on how to place your wagers, strategy advice, and much more.

Olympics Betting for Beginners

Some of you may now know how to bet on the Olympics online, so it’s good to go through the basics first and see how the process works.

There’s nothing too complicated about it, you just need to follow a few simple steps to start betting on the Olympics.

  • Join a Sportsbook – The first thing you need to do is to find an online bookmaker. Our top-rated sites and apps for betting on the Olympic Games with real money are all excellent and you can open a new account in a minute or two.
  • Make a Deposit – Add funds to your account next, so you can bet on the Olympics for money. The best sportsbooks online offer convenient options like debit and credit cards, ewallets, cryptocurrency, wire transfers, and more.
  • Place Your Olympic Bets – You should explore the Olympics betting odds next and find the market that you like. Once you’re ready, placing your wagers is very straightforward.
  • Cash Out – If you gamble on the Olympics and win money, you can usually use the same payment method you deposited with to withdraw it. If that’s not possible, the betting site will offer an alternative.

It’s that easy to bet on the Olympic Games online! But it’s understandable if you want to know more details before you start. The following pages provide some useful information for getting started with Olympic sports betting.

Best Olympics Betting Sites

Picking the best betting sites for the Olympics won’t instantly make you a winner. Your chances of success will improve dramatically, though.

The top sites offer better overall conditions than the rest, so your overall returns from Olympics betting online will be higher. Here are the main factors we explore to make sure that’s truly the case.

  • Safe to Use – We only recommended sites and apps for betting on the Olympics that have a reputation for treating their customers right.
  • Olympics Coverage – We expect to see Olympics betting lines for as many events from the games as possible.
  • Olympic Odds – You’ll want place your wagers at the highest betting odds for the Olympics, so that’s what we look for.
  • Bonuses and Promotions – The top sites for betting on the Olympic Games with real cash provide many opportunities to grab extra money through bonuses and promotions.
  • Other Factors – We also expect to see fast payments, a smooth user interface, and a reliable customer support service.

The best sites for betting on the Olympics also work on mobile. They are responsive, so you can gamble on the likes of iPhone, iPad, Android, and other devices. Some of the Olympics sportsbooks online also have native apps for the most popular phones or tablets.

If you want to know more about the best mobile options to bet money on the Olympics, check out the following post.

Betting on the Tokyo Olympics

The Tokyo Summer Olympic Games were postponed in 2020 and there was a long period of uncertainty surrounding the event. That’s behind us now and we can enjoy some of the best athletes in the world in the summer of 2021.

Our team of writers will follow the action closely in order to provide the best betting tips for the Olympic Games in Japan. Check out the following posts for general information on the event.

You can find more useful content related to the games as a whole and the various sports on our Olympics blog. Here are the latest entries.

Best Olympics Events to Bet On

The Olympic Games offer a ton of different sports and disciplines. It’s important to be selective with your wagers and only target the ones that give you the highest chance of success.

Leading online bookmakers for Olympic Games betting offer all events, or at least most of them, so you should carefully think before going at it. We recommend sticking to sports that you’re familiar with as a good rule of thumb.

We also believe that certain events are objectively better than others if you want to bet on the Olympics online. Before we look at them, it’s time for a quick disclaimer. We focus on summer events here and cover the winter sports separately later in this Olympics betting guide.

Athletics

Olympics Betting Guide Athletics
  • Introduced: 1896
  • Events: 47
  • Most Successful Country: United States
  • Most Successful Athlete: Paavo Nurmi (Finland)

You should definitely consider athletics when it comes to online Olympics betting. A large number of events means many chances to make some money and there’s more than enough free information you can use to prepare.

You should certainly keep an eye on the US Olympic trials when it comes to betting on this sport because American athletes have dominated most disciplines.

Basketball

Olympics Betting Guide Basketball
  • Introduced: 1904
  • Events: 4
  • Most Successful Country: United States
  • Highest Points Scorer: Oscar Schmidt

Team USA has been extremely dominant in Olympic basketball in both men’s and women’s tournaments. However, various countries have tried to challenge the American squads and some have succeeded.

We picked basketball as one of the best events for online Olympic betting because of the large number of games during the tournament and the sport’s popularity. You probably know most of the big stars if you watch the NBA and that makes it easier to prepare.

Of course, you should look outside of the NBA, too. There are excellent players in Europe that often play a key role at the Olympics.

Swimming

Olympics Betting Guide Swimming
  • Introduced: 1896
  • Events: 34
  • Most Successful Country: United States
  • Most Successful Athlete: Michael Phelps (USA)

Another excellent sport for betting is swimming. It features several disciplines, including individual ones and relays, for both men and women.

Swimming has been part of the Olympics ever since the modern games started and the United States are once again the most dominant force. There are also plenty of other countries with traditions in swimming.

If you decide to bet on the sport, you should always consider the fact that success at the Olympics is the dream of all athletes and they schedule their preparation with the goal of peaking at the games.

Tennis

Olympics Betting Guide Tennis
  • Introduced: 1896
  • Events: 5
  • Most Successful Country: United States
  • Most Successful Athlete: Reginald Doherty (Great Britain)

Tennis is one of the few sports in which the Olympic tournament is not the most important one on the calendar. That makes it interesting from a betting perspective because it opens the door to surprising results.

The athletes who are more motivated to represent their country usually have the upper hand, especially if they are playing at home.

Another reason to pick tennis for Olympics sports betting is the significant number of matches throughout the tournament.

Boxing

Olympics Betting Guide Boxing
  • Introduced: 1904
  • Events: 13
  • Most Successful Country: United States
  • Most Successful Athlete: Felix Savon, Teófilo Stevenson (Cuba) Laszlo Papp (Hungary)

There are major differences between amateur and pro boxing, so you should be careful if you decide to check the Olympic betting lines for this sport.

The fights are way shorter, the scoring is different, and the fighters are better protected as a whole. The good news is that the tournament in each category takes place over the course of several days, so you can watch every boxer in action and bet based on your impressions.

More Top Sports for Olympic Betting Online

You shouldn’t automatically exclude other sports, of course. Any event that you know a bit about is an option. If you don’t have anything specific you wish to bet on, most Olympics betting sites also offer the following.

  • Olympic Sailing – This is one of the more interesting options because you can’t really bet on sailing outside of the Olympics.
  • Olympic Rowing – Rowing is another sport that’s rarely available for betting apart from at the Olympic.
  • Olympic Soccer – The male soccer tournament is full of surprises because it’s for young players, but the female event features the biggest stars.
  • Olympic Volleyball – The Olympic title is the most prestigious trophy in volleyball, so the level at the games is very high.
  • Olympic Hockey – Field hockey is another interesting option at the Summer Olympics and it’s extremely popular in certain countries.
  • Olympic Cycling – There are several cycling events at every Olympic games, spread across multiple disciplines.
  • Olympic Extreme Sports – The 21st century saw the introduction of extreme sports like surfing, skateboarding, and sport climbing.
  • Olympic Golf – After a long hiatus, golf returned to the Olympic schedule at the Tokyo games.

The top sportsbooks online offer Olympics odds on all of these, as well as other events from the games.

Winter Olympics Betting

The main focus of the page and all the tips for betting on the Olympic Games so far have been focused on the summer edition of the games. They are more popular and include more sports, but the Winter Olympics are also worth your attention.

They include several exciting disciplines that are covered by the top Olympic betting sites, such as the following.

  • Alpine Skiing – With more than 10 events on the schedule, alpine skiing is one of the most attractive sports at the Winter Olympics.
  • Biathlon – An exciting discipline that includes ski running and shooting.
  • Figure Skating – One of the most beautiful sports to watch has been part of the Winter Olympic Games since 1924.
  • Ice Hockey – The ice hockey tournament is one of the most competitive events at the Olympics.
  • Snowboarding – Snowboarding became a part of the Olympics in the late 1990s and the number of disciplines has been growing since.

If you want Olympics betting tips for winter sports, you should visit the following page.

Paralympics Betting

The Paralympic Games started as a small event for World War II veterans in the middle of the 20th century.

More than 60 years later, it features thousands of athletes with disabilities from all over the globe.

The popularity of the Paralympics has increased dramatically over the years.

The event is held in parallel to the Olympics and features both summer and winter editions. The prize pools and the number of contestants are growing constantly.

Most sites that offer the opportunity to bet on the Olympics for real money cover the Paralympics, too. The number of markets is somewhat limited, but you can still gamble on the bigger events.

Simple Tips for Betting on the Olympics

Learning how and where to bet on the Olympics online is only part of the equation if you want to make money.

You have to prepare properly to find profitable opportunities and we have several Olympic betting tips that can help you achieve that.

Evaluate the Importance of the Olympics in the Sport

The first thing you should do is try to evaluate how important the Olympics Games are for the sport you are about to bet on.

In most cases, it’s the most important trophy there is. But there are exceptions, such as the following.

  • Men’s Soccer – The men’s soccer tournament at the Olympics includes mostly youngsters and it can’t compare with the World Cup, Euros, Copa America, or other big international tournaments. That often means experimental squads and surprising results.
  • Men’s Basketball – The Olympic title is certainly the most important international basketball trophy, but the mere fact that the biggest NBA stars often don’t participate is quite telling. The top players in the world prefer to perform well in the league because it brings them more money and fame.
  • Tennis – Tennis is big at the Olympics but it’s not as big as Grand Slam tournaments and some players prefer to prioritize them instead.

When you’re betting on such sports, you should always consider the motivation of the teams and players involved. The ones who care the most usually have the upper hand.

The other option would be to bet real money on Olympics sports in which all contestants have been preparing for the event for most of their lives. When that’s the case, you should expect the best efforts from every single participant.

Explore All Markets

A lot of people are focused on only one sport at the Olympics. That’s a mistake. The top sportsbooks on the internet cover many different options and they even have Olympics prop bets including the following.

  • Most Medals Won – You can back a country to top the medal table at the Olympics.
  • Over/Under Medals per Country – The bookies determine a line of medals for the bigger countries, and you can bet on over/under. This could be for all medals or for gold only.
  • Over/Under Medals per Athlete – Certain athletes are expected to win multiple medals and you can bet on the exact number.
  • Opening/Closing Ceremony Props – You can find all sorts of unusual Olympics props for the opening and closing ceremonies.

The online betting sites have become very creative nowadays and you should always pay attention to what they’re offering. Even markets that look completely wild could provide a good chance to win money.

Grab Bonuses and Promotions

When trying to determine where to bet on the Olympic Games online, make sure you pick a bookmaker that offers generous bonuses and promotions.

At the very minimum, the regular deals of the sportsbook should be available for the event. Ideally, there will also be exclusive promotions.

Even the best Olympics betting strategy will benefit from additional funds such as welcome bonuses, loyalty programs, free wagers, and other promos.

Consider Home Advantage

Home advantage is crucial in every sport and the Olympics are no exception. All athletes from the host nations are desperate to win and they have the support of the crowd.

Furthermore, many sports receive government funds, and the host countries in particular often invest heavily in the athletes representing them.

Let’s see how each of the last five host nations did in their home games compared to the edition prior to that.

Olympics Medals/Gold Medals Won by the Hosts Medals/Gold Medals in the Previous Edition
Rio 2016 19/7 17/3
London 2012 65/29 51/19
Beijing 2008 100/48 63/32
Athens 2004 16/6 13/4
Sydney 2000 58/16 41/9

Every single nation won more medals in total and more gold medals on home turf. That’s not a coincidence and you should be careful when betting on sports where a local team or athlete is among the favorites.

Analyze Previous Results

You should always analyze previous results when betting on the Olympics, especially when it comes to sports that are time trials or based on a certain scoring system.

The likes of swimming, athletics, rowing, and many others are like that. The best way to prepare for them is to try and figure out what to expect from each contestant based on previous records.

Comparing previous results in sports like swimming, rowing, weight lifting, and athletics is crucial when betting on them at the Olympics.

You should be careful, though, and make sure you pick the right data. Personal records are a good starting point, but they might be misleading depending on the athlete’s age.

Younger participants could improve at the Olympics, while veterans could very well underperform compared to achievements at their peak level from the past. That’s why personal bests for the year leading into the Olympics should be considered, too.

More Olympic Resources

Some of you probably found this page asking looking for an answer to the question, “Can you bet on the Olympics?”

You know you can at this point and we have delivered a bunch of tips that should help you make better betting decisions. The rest is up to you, of course, but we have several more useful resources that you should explore. Most of these can directly help with your Olympics betting, some are just interesting and worth looking at.