The Olympic Games only happen once every two years, but for those two weeks the event takes priority in sports coverage and also in online sports betting. The Olympics seem to get bigger every year and so does betting on the Olympics. Placing your Olympics bets is easier and safer than ever thanks to trustworthy and reputable online sports betting sites, some of which we will recommend below. Many of these online sportsbooks also offer some great Olympics betting promotions to go along with their typical bonuses!
Best Sportsbooks For Betting On Olympics
- Built for American bettors
- Wide variety of competitive betting lines
- Easy to navigate betting platform
- Accepts players worldwide
- Competitive betting lines
- Fast & easy deposits and withdrawals (including Bitcoin)
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How To Bet On The Olympics Online
Betting on the Olympics online is extremely easy and it only takes a few minutes to set up before you can place your first bet.
- Join – The first thing you will need to do is open an account at an online sportsbook. We recommend any of the three sportsbooks listed above because they offer the most variety of Olympics betting lines and some great Olympics promotions. They are also very reputable and trustworthy sportsbooks (the only kind we recommend). To open an account click on any of the links above and fill out the sign up form, which asks for basic information such as your name, address and email. Opening an account only takes a minute.
- Deposit – Next you will have to fund your account in order to have money to bet on the Olympics. Credit cards, a variety of e-wallets, bitcoin, and other methods are accepted to make it easy for you to get money online. When making your first deposit I also suggest you research the sign up bonus to take full advantage of the promotions, while also understanding the rollover requirements.
- Bet – After you have made your deposit you are ready to bet! Head over to the Olympics betting section, select the odds of the wager you want to make, enter your risk amount on the Bet Slip, and click ‘Place Bet’ to lock it in. Then sit back and enjoy having action on the event.
Betting On Different Events
The three sportsbooks we listed above have a wide variety of Olympics betting lines so you will likely be able to wager on any event in the Olympics. If you want to learn more about betting on a specific event I suggest you check out the bet on sports page and see if there is a detailed page on the event you are interested in.
Olympics Betting Odds
You will most likely be using either decimal or American odds when placing your Olympics bets. I’ll go over a quick example of each so you know what you are betting on.
Decimal Odds example:
Team Canada 1.80
Team USA 2.10
With decimal odds it is easy to determine the payout by looking at the odds. You simply multiply the decimal odds by the risk amount. In this example a $10 bet on Team Canada would payout $18 (1.80 x $10), while a $10 bet on Team USA would payout $21 (2.10 x $10). Team Canada is a slight favorite in this example.
American Odds example:
Team Canada -125
Team USA +110
These American odds mean the exact same thing as the decimal odds above. How it works is the (-) means that a bettor must risk that amount to win $100, while the + means that a bettor will win that amount if he risk $100.
Olympics Betting Tips
Here are a few basic tips that you should keep in the back of your mind when placing your Olympics bets.
- Bet Against Public Opinion – In the Olympics many fans will be wagering on the athlete or team they hear about in the news or who is representing their country. This can sway the lines, which can give a savvy Olympic bettor an advantage. Look for athletes that aren’t being talked about too much and may come from smaller countries, but who have the ability to pull out a win. These are the athletes that will make you cash.
- Do Your Research – There are a lot of events that don’t get any exposure except for the Olympics. In order to succeed betting on the Olympics you have to do more research than the odds makers, which is very possible due to the sheer number of events they have to set lines for. Do your research and rake in the profits.
- Compare Odds – Like all events where there isn’t a definite opinion set on what the correct line is you will be able to find very different lines at different online sportsbooks. I suggest you sign up at each of the betting sites we outlined above and then place your bets with the sportsbook that offers the best odds on the outcome you expect.
You should also check out our general betting tips page to learn some more basic tips that will apply to all of your online sports betting.
Summer and Winter Olympics
To learn more about the Olympics in general I suggest visiting the Olympic Games wiki page.