Few athletic events bring the globe as close together as the Olympics do. Held every two years (alternating between Summer and Winter), athletes from dozens of country gather to see who is the best at each sport offered. With how popular the Olympics are, it shouldn’t be surprising to know that it’s been becoming more popular among sports bettors as well. A wager here and there can add some extra excitement to any Olympic event.
Keeping that in mind, if you’d like to get in on the sports betting action, this is the guide for you! The first thing you’ll need to do is sign up for a sportsbook of your choosing. Thankfully, with the world we live in, most of these options are available both on your computer and phone.
Olympics Betting at Bovada
Bovada is one of the biggest online sportsbooks around. They offer a wide variety of Olympic markets for both the Summer and Winter events. Whether it’s choosing which country will win certain competitions or the OVER/UNDER on the number of medals a specific athlete will win, Bovada has you covered.
To make matters more exciting, Bovada also offers different promotions that you can take advantage of. A $750 Bitcoin welcome bonus will match 75% of your first Bitcoin deposit up to the aforementioned amount. If you’re not a cryptocurrency user, that’s okay! Bovada is also offering a standard 50% welcome bonus that matches half of your initial deposit up to a maximum of $250.
Olympics Betting at Sportsbetting.ag
Sportsbetting.ag is another trusted sportsbook that has a user-friendly interface, meaning you shouldn’t have an issue find the Olympic market that you’re looking for. From individual competitions to future markets for the event as a whole, there are more Olympic betting options than you’ll know what to do with on Sportsbetting.ag.
Like Bovada, Sportsbetting.ag has its fair share of promotions as well. One of their more popular options is the sports reload bonus that you can use any time you’re depositing at least $50. They’ll then match 25% of your deposit up to $250! There’s also a 100% first-time crypto bonus that fully matches your first cryptocurrency deposit, whether you’re using Bitcoin, Stellar or any of the other offered options.
Olympics Betting at BetOnline
Lastly, BetOnline is another well-respected option when it comes to betting on the Olympics. They offer several markets, whether you’re looking to make a future wager ahead of time or if you prefer betting while the Olympics are unfolding live. With every option under the sun, there’s something for everyone.
BetOnline offers pretty much the same promotions as Sportsbetting.ag, including a 35% crypto reload bonus. Anytime you’re adding cryptocurrencies to your account, you can use this bonus to match 35% of each deposit. However, if it’s your first time and you’re not a crypto fan, you can use the welcome bonus that matches 50% of your first deposit up to a maximum of $1,000!
How to Bet on the Olympics
After taking the couple of minutes it takes to sign up to an online sportsbook, you’ll be ready to bet on the Olympics! However, if it is your first time, you may run into some terms or markets that you’ve never seen before. With that being said, here’s a rundown of some of the more important ones.
- Moneyline: A head-to-head matchup between athletes or teams where you just have to choose the winner.
- Total: A number will be given and you have to choose whether it will be surpassed (over) or not (under). When it comes to the Olympics, this can range from a country’s medal count to singular events.
- Spread: An athlete or country will be favored to win an event by a certain score or amount of time and you have to choose if you think they’ll be successful or not.
- Future: A bet made days, weeks or months in advance of an event.
- Live betting: While most wagers can be placed before an event starts, you can also make them during an event in the form of live betting.
- Prop bets: Prop bets are unique bets that focus on interesting scenarios. For example, a prop bet for the Olympics may be predicting whether or not any records will be broken or which country will win the most medals.
Every market will come with odds, indicating how much you can win. It may seem confusing at first, but if the odds have a positive sign (+), that’s how much money you can win if you bet $100.
- Ex. $100 bet at +225 odds = $225 if you’re correct.
On the other hand, if there’s a negative sign (-) beside the odds, that’s how much you need to bet if you want to win $100.
- Ex. $400 bet at -400 odds = $400 if you’re correct.
You can also place multiple wagers at the same time in some cases, which is called a parlay. If you’re able to do this and you’re correct on each wager, you can win even more money.
Olympics Betting Strategy
Sports betting can seem pretty straightforward, but it can also involve strategy. Some of the biggest experts will research events, statistics and trends ahead of placing a wager. It seems like extra worth, but it’s worth it because research can maximize your winnings. Even if you’re researching how an athlete has performed leading up to the Olympics or their past experiences at the events, you’re doing yourself a favor. A little bit of research can make a difference.
It’s also smart to have a financial strategy. Regardless of how good the odds look, no bet is ever a guaranteed victory. If it’s your first time, start off small ($50-$100) and work up. It’s important to be responsible and only wager what you’re willing to lose. Once you get the hang of it, start adding more funds.
Frequently Asked Questions
What kind of Olympic events can I wager on?
Pretty much all of them, whether they’re individual or team events. Today’s sportsbooks always have a wide variety of options, so make sure to look through their Olympics section to find out what’s offered.
Is there a limit to how much I can wager on the Olympics?
Wagering limits vary from sportsbook to sportsbook. Most of them do have limits, but that can change depending on the competition or market. For example, Bovada has set a $100,000 limit on payouts, meaning no one can win more than that.
Do the odds for Olympic events change or stay the same?
Odds can change, whether that’s weeks before an event or even a couple of hours. Athlete news, injuries and other scenarios can affect odds, meaning you should always try to stay up to date with the latest ones.