There are hundreds of places to bet on the Olympics online, but we recommend using only the top-rated Olympics sportsbooks featured on this page.
How to Bet on the Olympic Games
For many athletes, the Olympic Games are the pinnacle of their career. The greatest sportsmen and women on the planet train tirelessly to peak at just the right time, producing a memorable spectacle every four years.
Although watching the Games is enough for some, many people also enjoy betting on the Olympics. But with countless sports and events on show, knowing exactly how to bet on the Olympics can be tough.
With that in mind, we created this beginner’s guide to betting on the Olympic Games. Featuring tons of Olympics betting tips and stacks of useful advice, this page covers all the bases.
How to Bet on the Olympics – Step by Step Guide
Join the Top Olympics Betting Sites
Before you start thinking about placing your Olympics bets, you need to choose the right site. When it comes to betting on the Olympics, picking the best sites is crucial.
Above all, you want to make sure that your money is in safe hands, right? Thankfully for you, all of our recommended Olympics betting sites are 100% safe and secure.
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The top Olympics betting sites online also offer highly competitive odds, a vast range of Olympic betting markets, first-rate customer service, and whole lot more.
Joining the best Olympics betting sites has never been easier. Below, we guide you through how to register and make a deposit, so you can begin your Olympic Games betting journey right away!
How to Bet on the Olympics Online
- Step 1: Choose Your Site – Although there are hundreds of online sportsbooks, we recommend using only the top-rated sites for betting on the Olympics.
- Step 2: Create an Account – Simply enter your email address, create a password, and add a few personal details to get started.
- Step 3: Verify Your Account – This usually involves providing one or two forms of identification, along with proof of address.
- Step 4: Select a Payment Method – The best Olympics betting sites offer a wide range of payment methods, including credit and debit card, bank transfer, and cryptocurrencies.
- Step 5: Make a Deposit – Use your preferred payment option to deposit funds into your account. Remember – only deposit what you can afford to lose.
- Step 6: Place Your Bets – Once you have set up your account and deposited funds, you will then be free to bet on the Olympics and win money.
It is also worth noting that all the top Olympics betting sites offer enticing sign-up bonuses and promotions. We recommend taking advantage of these deals, as they are usually exclusive.
For example, a sportsbook may offer to match your first deposit, doubling your initial budget. Who wouldn’t want that!?
We suggest using more than one site to bet on the Olympic Games. You can then compare features such as bonuses, odds, and wager versatility to give yourself the best possible options. You may also want to consider using apps to bet on the Olympic Games.
Make sure you check out our guide to betting on sports online, too. The page covers everything you need to know about how to bet online.
Understand Olympics Betting Options
If you’re here to learn about how to bet on the Olympics, you need to understand that there are literally thousands of bets you can make.
With more than 300 events in over 30 sports, Olympics betting for beginners can seem daunting.
Although bet types vary across different sports and events, there are certain bets that apply to every Olympic sport. It makes sense to learn about these betting options first.
In this section, we cover some of the most popular Olympics bets that can be used across the board.
Betting On the Event Winner
Arguably the most common Olympic betting option, this market enables you to wager on the winner of an event. Simply put, you are backing an athlete or team to claim the gold medal.
There really is nothing complicated about this type of Olympic bet. All you need to do is decide who you think will win the event and place your wager.
Olympic Games Prop Bets
Proposition bets, more commonly known as prop bets, are hugely popular in sports betting. The Olympics is no exception.
Essentially, props are bets regarding the occurrence or non-occurrence of an event.
Using an example for the Olympics, a bookmaker could offer a market for “Total Number of Team USA Medals at Tokyo 2020.” The options would look something like “Over 100.5” and “Under 100.5.” You would then choose one of the options and wait for the outcome.
For more information regarding props, check out our complete guide to understanding prop bets.
In-Play Bets for the Olympics
In-play betting enables you to place wagers on events while they are taking place. Rather than wagering on the outcome of an event before it gets underway, live betting allows you to gamble on the action as it unfolds.
Of course, you can’t place an in-play bet on the 100m sprint, as that particular race is over in the blink of an eye. But there are dozens of Olympic sports that accommodate live betting.
Here are a few examples of in-play bets.
- Next goal scorer in a soccer match.
- Next team to score in a basketball game.
- Winner of the next game in a tennis match.
More Olympics Bets
Olympic betting opportunities are almost endless.
From futures and outrights to wagering on winners of specific events, and from gambling on team medal hauls to regular moneylines, we suggest exploring all the options in order to make the most of your Olympics betting experience.
If you’re interested in learning more about the different types of sports bets, check out the following page.
Choose Which Sports and Events to Bet On
When it comes to Olympic betting for beginners, knowing HOW to bet on the Olympic Games is key. In the same way, knowing WHAT to bet on is vitally important.
As we know, there are so many different sports and events to gamble on at the Olympics. But with somewhere in the region of 50 disciplines to choose from, picking the best Olympic sports to bet on can often be tricky.
That’s why we have compiled a list of both the most popular and obscure sports to bet on at the Games. Following the lists, we provide tips on how to choose which sports and events to wager on.
Here are some examples of the most popular Olympic sports and events to bet on.
- Athletics (Track and Field)
- Soccer (Football)
- Table Tennis
And here are some examples of obscure sports that you can bet on at the Olympics.
- Sport Climbing
Let’s take a look at how to pick Olympic sports and events to bet on.
Pick Popular Sports with Lots of Coverage
Betting on the Olympics for beginners can be tough, but there are steps that newbies can take to make life easier for themselves.
With that being said, we recommend betting on popular sports that get plenty of coverage.
If you choose to gamble on mainstream Olympic sports, there will be tons of information to help you. Looking at the recent form of athletes and gauging how they will fare when the Games begin can help you make winning Olympics predictions.
For example, athletics events like sprints and relays are far more popular than new Olympic sports such as climbing and surfing. That means it’s a lot easier to research sprinters and predict how the races will pan out.
Look Out for Star Athletes in Events
Some events may not have a standout favorite. On the flip side, certain athletes, and teams head into the Olympic Games as the clear favorites to claim gold in their discipline.
In terms of Olympics betting for beginners, we suggest studying all the events to establish if there are any obvious frontrunners to win gold.
Sure, this may not be the most profitable Olympic betting strategy, as the odds for standout favorites are generally pretty low. But if you’re looking for safe Olympics bets, finding star athletes can help you win money.
Don’t Be Afraid to Bet On New Olympic Sports
Not only do we recommend betting on the most popular sports at the Olympics, but we also suggest considering some of the newer Olympic sports.
While the core Olympic sports have remained the same for over a century, new events and disciplines are generally added every four years.
For instance, surfing, skateboarding, sport climbing, and karate all featured at Tokyo 2020 for the very first time, while baseball and softball returned for the first time since 2008.
If you familiarize yourself with the top athletes and teams competing in new Olympic sports, you can give yourself an edge over the oddsmakers.
Make Full Use of Our Olympics Betting Guides
Fortunately for you, we don’t just have this beginner’s guide to betting on the Olympics. In fact, we have a series of pages dedicated to betting on all different types of Olympic sports.
So, whether you’re interested in betting on sailing at the Olympics, or you want to try your hand at wagering on Olympic soccer, we have something for everyone.
- How to Bet on Olympic Swimming
- How to Bet on Olympic Soccer
- How to Bet on Olympic Volleyball
- Familiar surroundings
- Backing of the home crowd
- Familiar weather and climate
- Minimal travel
- Current form
- Recent or reoccurring injuries
- Past results and achievements
- Team chemistry
- Where Can I Bet on the Olympics Online?
- Is It Legal to Bet on the Olympics Online?
Although online Olympics betting is legal in many countries, there are certain regions where it isn’t permitted. Make sure you check your local gambling laws before going any further.
- Is Olympics Betting Popular?
Yes, betting on the Olympics is popular across the world. With the Games generally taking place once every four years, Olympics betting becomes hugely popular every time the Games come around.
- What Olympic Sports Can I Bet on?
Thanks to the wide range of Olympics betting markets offered by the leading Olympics sportsbooks online, it is possible to bet on all the sports at the Games.
- Can I Use Bonuses and Promotions for Olympics Betting?
Of course. All the best online betting sites for the Olympics enable us to use promotions and sign-up bonuses for gambling on the Games.
- Which Country Has Won the Most Olympic Medals?
The United States has claimed the most medals in the history of the Summer Olympics. Other successful nations include Russia, Great Britain, France, and Germany.
Find the Best Olympics Bets
Now that you understand your Olympics betting options and know how to choose sports and events to wager on, it’s time to start looking for your Olympics bets.
This section tells you how to find the best Olympics bets, taking aspects such as value, probability, and home advantage into consideration.
Look For Value in the Olympics Odds
Finding value in the bookies’ Olympics betting odds is crucial – it’s as simple as that.
Of course, you could back the favorite in every event at the Games, and you would almost certainly win some of those bets. But if you want the best chance to win money betting on the Olympics, you need to identify value in the prices.
We won’t go into too much detail about this topic here, as we already have a page explaining how to find value in betting odds.
Consider Home Advantage for Athletes and Teams
It is no secret that home-field advantage plays a pivotal role in almost every sport on the planet. Generally speaking, when teams or athletes are on home soil, they typically perform better.
This is due to several factors.
When it comes to finding the best Olympics bets, you should take home advantage into account, as athletes and teams competing on home soil can have a significant edge over their rivals.
For example, “Athlete A” is priced at 1.50 to win the men’s 200m final, making him the bookies’ favorite, while “Athlete B” is an outsider at 3.00. However, Athlete B is racing in his home stadium in front of 50,000 fans.
Although Athlete A may be viewed as the superior sprinter, Athlete B is on a familiar track and could use the adrenaline created by the home supporters to produce the race of his life.
If you can identify events in which athletes or teams may benefit from home-field advantage, you will take your Olympics betting to the next level.
Betting on Team Sports vs. Individual Sports
There are plenty of obvious similarities when it comes to gambling on team sports and individual sports. But there are some notable differences, too.
It goes without saying that team sports rely on more than one athlete, meaning teams can win events without every member playing to the best of their ability.
By contrast, betting on individual sports can be riskier. An athlete could suffer an injury midway through an event, forcing them to retire early, handing the win to their opponent.
That said, individual sports can often be easier to predict than team sports. A team is only as strong as its weakest link, while there is far less to take into consideration when only one athlete is concerned.
Either way, if you’re thinking about betting on a specific Olympic event, we highly recommend researching all the athletes before parting ways with your cash.
Here are some things to look out for.
Follow Our Olympics Experts
While you may be new to betting on the Olympic Games, our team of Olympics experts certainly isn’t!
Here at GamblingSites.com, we have a blog dedicated to the Olympics. Our Olympics blog will keep you up to speed with all the latest information, analysis, insight, and more.
On top of that, our writers continuously provide betting advice in our picks section. We share Olympics betting picks for all the top events, along with a host of other sports from around the world.
If you need advice on how to bet on the Olympics, following our Olympics experts is a great place to start.
Olympics Betting FAQ
Let’s finish this beginner’s guide to betting on the Olympic Games by answering some frequently asked questions.