For many sports enthusiasts and bettors, the venture into Summer Olympics betting presents an exciting new frontier, albeit one that might initially seem daunting. The Olympics, with its large array of events, can be particularly overwhelming for newcomers.
Whether you’re a seasoned bettor or new to the scene, our 2024 Summer Olympics betting guide is here to assist you in navigating the exciting world of Olympic betting with confidence and insight. Our aim is not only to educate bettors on the fundamentals of Olympic betting but also to encourage a proactive approach to learning. By arming yourself with knowledge and embracing a strategic mindset, you can enhance your overall betting experience at some of the best online sportsbooks.
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How to Bet on the Summer Olympics
The 2024 Summer Olympics are just around the corner, set to kick off on Friday, July 26. This prestigious sporting event will take place in Paris, France. As athletes from around the world gather to compete, there’s another exciting aspect that’s gaining significant attention: Summer Olympics betting.
The Most Bet-On Summer Olympics Ever
This year’s Summer Olympics are poised to be the most bet-on in history. The answer lies in the recent surge of legalized sports betting. As more countries open up to the idea of regulated betting, enthusiasts are seizing the opportunity to place wagers on their favorite athletes and events.
Navigating the Unfamiliar Terrain
While seasoned sports bettors may be familiar with football, basketball and other mainstream sports, Olympic events present a unique challenge. The diversity of sports, unfamiliar rules and lesser-known athletes can leave even experienced gamblers scratching their heads. That’s where the Olympic betting guide comes into play.
Unlocking Valuable Insights
The primary objective of the Olympic betting guide is to empower bettors. It provides valuable insights into the nuances of Olympic betting, helping enthusiasts make smarter wagers. From understanding the scoring systems in figure skating to predicting the performance of biathletes, the guide covers it all.
Enhancing the Betting Experience
Whether you’re a seasoned bettor or a curious newcomer, the Olympic betting guide aims to enhance your overall experience. It offers tips, strategies and historical context, allowing you to make informed decisions. There’s nothing quite like placing a well-researched bet and witnessing your chosen athlete triumph on the grand Olympic stage.
The Legalization Factor
As the landscape of sports gambling evolves, more individuals have the opportunity to participate. Legalization has democratized betting, making it accessible to a wider audience. So, whether you’re a casual fan or a dedicated bettor, consider diving into the Summer Olympics betting scene. You might just strike gold while cheering for your favorite surfer or gymnast.
Summer Olympics Odds
All reputable sportsbooks will carry lines on the Summer Olympics. This will give bettors a lot more action to follow across the summer months, when there’s usually not a lot of sports betting opportunities.
Our Recommended Summer Olympics Betting Sites
BetMGM and the Summer Olympics
BetMGM Sportsbook has emerged as the premier destination for Summer Olympics betting. Its reputation is built on a wide array of betting markets, diverse bet types, an intuitive site/app layout and standout features.
What truly sets BetMGM apart are its impressive features for Summer Olympics betting. These include live betting, live streaming, odds boosts, early cash out and bet editing functionalities.
Whether accessed via desktop or mobile app, the Olympics betting section at BetMGM has garnered praise for its user-friendly experience and sleek interface—a testament to its commitment to providing a seamless betting journey for enthusiasts
- Promotion: Up to $1,500 back in Bonus Bets if your first bet doesn’t win
- Betting On Summer Olympics is available in: AZ, CO, DC, IA, IL, IN, KS, KY, LA, MD, MA, MI, MS, NC, NJ, NV, NY, OH, PA, TN, VA, WV, WY
- Payment Methods: EPAY, Discover, MasterCard, PayPal, Visa
DraftKings and the Summer Olympics
DraftKings Sportsbook stands out as a widely available option for Summer Olympics betting. Whether you’re an avid sports bettor or a casual enthusiast, DraftKings has something to offer.
DraftKings provides competitive odds for the Games. You can place futures bets, such as predicting medal winners and speculating on which country will secure the most gold medals. The thrill of anticipation adds an extra layer of excitement to the Olympic experience.
The platform ensures an enjoyable and stress-free betting experience. Its user-friendly interface simplifies navigation, making it accessible even to beginners. Moreover, DraftKings boasts arguably the best mobile app in the industry, allowing you to place bets conveniently on the go.
When it comes to handling your funds, DraftKings offers reliable payment methods. Whether you prefer credit cards, e-wallets, or bank transfers, you’ll find convenient options for deposits and withdrawals.
DraftKings rewards its users through a great loyalty program. As you engage in Olympic betting, you’ll accumulate points and unlock exclusive perks. It’s a win-win situation for both seasoned bettors and newcomers.
- Promotion: Bet $5, Get $150 in Bonus Bets
- Betting On Summer Olympics is available in: AZ, CO, CT, IA, IL, IN, KS, KY, LA, MD, MI, MS, NC, NH, NY, OH, OR, PA, TN, VA, WA, WV, WY
- Payment Methods: MasterCard, PayPal, Visa
FanDuel and the Summer Olympics
FanDuel Sportsbook stands out as a top choice for Olympics betting, offering a mobile experience comparable to DraftKings. With a user base of over 10 million in the US, FanDuel provides one of the most well-rounded betting experiences in the industry.
FanDuel’s comprehensive options span a wide range of sports. While no sportsbook can cover every single event in the Games, FanDuel comes remarkably close to achieving that level of coverage.
In the competitive arena of Olympics betting, both FanDuel and DraftKings emerge as equally strong contenders. They are considered the top challengers to BetMGM for the title of the top Olympics betting site.
- Promotion: Bet $5, Get $150 ($300 In MA And OH) In Bonus Bets If Your Bet Wins
- Betting On Summer Olympics is available in: AZ, CO, CT DC, IA, IL, IN, KS, KY, LA, MA, MD, MI, MS, NC, NJ, NY, NV, OH, PA, TN, VA, VT, WA, WV, WY
- Payment Methods: MasterCard, PayPal, Visa
Caesars Sportsbook and the Summer Olympics
Caesars Sportsbook distinguishes itself as a premier Summer Olympics betting site, boasting an extensive array of markets that span nearly every Olympic sport.
However, it’s essential to note that while Caesars excels in market coverage, it falls slightly behind its competitors, DraftKings and FanDuel, in terms of bet types and odds competitiveness.
Where Caesars truly shines is in its impressive site layout, which seamlessly caters to both desktop and mobile app users. This ensures a smooth and enjoyable betting experience for those placing wagers during the Olympic Games.
Moreover, Caesars sweetens the deal with ongoing promotions and daily odds boosts exclusively for Olympic events, providing added value to enthusiastic bettors.
- Promotion: $1,000 on Caesars if your first bet doesn’t win
- Betting On Summer Olympics is available in: AZ, CO, DC, IA, IL, KS, KY, LA, MA, MD, MI, NC, NJ, NV, OH, PA, TN, VA, VT, WA, WV, WY
- Payment Methods: MasterCard, PayPal, Visa
Which Summer Olympics Betting Apps are the Best?
DraftKings and FanDuel stand out as our top choices for mobile apps, providing exceptional user experiences regardless of the sport being bet on.
While BetMGM and Caesars apps are also preferred, they tend to be slightly slower compared to DraftKings and FanDuel.
The DraftKings mobile app boasts impressive user ratings of 4.8 on the Apple Store and 4.6 on the Google Play Store. It offers an elite experience with intuitive navigation and quick bet submission.
Similarly, the FanDuel mobile app receives high user ratings of 4.8 on the Apple Store and 4.7 on the Google Play Store. It features a sleek color scheme and layout, along with premium speed.
How Do We Rank the Best Summer Olympics Betting Promos?
Ranking the best Summer Olympics betting promos involves a meticulous evaluation process designed to highlight offers that provide genuine value to bettors. We consider several key factors to ensure our rankings are comprehensive and beneficial:
- Value of the Promotion: We assess the actual value provided by a promo, focusing on offers that have substantial benefits for bettors, such as matched bets, cashback offers and enhanced odds that significantly increase potential returns.
- Wagering Requirements: Promotions with lower or no wagering requirements are prioritized because they allow bettors to access their winnings more easily, making these offers more attractive and user-friendly.
- Eligibility and Accessibility: The best promos are those that are accessible to a wide range of bettors, including newcomers. We look for promotions that are easy to claim and have transparent, straightforward eligibility criteria.
- Expiration Period: Offers with a reasonable amount of time to use the bonus or promotion are ranked higher. This ensures bettors have ample opportunity to take advantage of the promo without feeling rushed.
- Versatility of Betting Options: Promotions that are applicable to a wide array of Olympic events rank higher, as they offer bettors the flexibility to explore different betting opportunities across the diverse Olympic sports spectrum.
- Reputation of the Betting Site: The credibility and reliability of the betting site offering the promo are crucial. We favor promos from sites known for their customer service, security and overall positive user experience.
By systematically evaluating each of these factors, we aim to rank Summer Olympics betting promos that not only enhance the betting experience but also offer genuine, tangible benefits to bettors, making their Olympic betting adventure both exciting and rewarding.
How Do You Find the Best Summer Olympics Sportsbook Promos?
Finding the best Summer Olympics sportsbook promos requires a blend of diligent research and strategic consideration. Here’s a streamlined approach to uncovering these valuable offers:
- Research Multiple Sportsbooks: Start by exploring the range of sportsbooks we have hand-picked for you. Each platform will have its unique set of promotions tailored to the Summer Olympics. By comparing these, you can identify which ones offer the most value.
- Check Reviews and Ratings: Look at reviews and ratings from reputable sources and fellow bettors. These insights can highlight sportsbooks with consistently good promo offers and user-friendly terms.
- Understand the Terms and Conditions: The most attractive promo on the surface might come with restrictive conditions. Read the fine print to ensure the requirements (such as wagering requirements and expiry dates) are reasonable and within your betting strategy.
- Look for a Variety of Promotions: The best sportsbooks typically offer a range of promotions, including welcome bonuses, bonus bets, enhanced odds and loyalty rewards. A variety ensures you can find something that matches your betting preferences.
- Stay Updated: Sign up for newsletters and follow the sportsbooks on social media. Many platforms announce their promotions through these channels, especially time-sensitive Olympic offers.
- Leverage Betting Communities: Joining forums and betting communities can be invaluable. Members often share tips on the latest promos and hidden gems.
- Customer Support: Don’t underestimate the power of direct inquiry. Contacting a sportsbook’s customer service might reveal exclusive promotions not broadly advertised.
Summer Olympics Sports You Can Bet On
- Archery
- Artistic Swimming
- Athletics
- Badminton
- Baseball
- Basketball
- Boxing
- Canoeing
- Cycling
- Diving
- Equestrian
- Fencing
- Field hockey
- Golf betting
- Gymnastics
- Handball
- Judo
- Karate
- Modern pentathlon
- Rowing
- Rugby sevens
- Sailing
- Shooting
- Skateboarding
- Soccer betting
- Softball
- Sport climbing
- Surfing
- Swimming
- Table tennis
- Taekwondo
- Tennis
- Triathlon
- Volleyball
- Water polo
- Weightlifting
- Wrestling
Summer Olympics Types of Bets
Because of the huge participation the Olympics garner and the number of events taking place, there’s an almost endless selection of betting opportunities. As with most sports competitions, there are certain types of bets that are commonly found at all sportsbooks.
Moneyline: Who will win the gold medal?
When it comes to sports betting, moneyline bets offer straightforward simplicity. Whether you’re wagering on teams or individual athletes, this method allows you to focus on one fundamental question: Who will win?
Here’s how it works: Each team or athlete is assigned a favorite (-) or an underdog (+) designation. The favorite is the expected winner, while the underdog is the less likely victor. By selecting the winner, you’re essentially placing your bet on their success.
Totals (Over/Under)
When you engage in Olympic totals (Over/Unders) bets, you’re essentially making a prediction about a participating country’s performance. The central question revolves around whether that country will earn more (over) or less (under) than the total number of gold medals set by the betting site.
These bets operate as head-to-head wagers, pitting two nations against each other in the race for gold. It’s a thrilling way to test your foresight and add an extra layer of excitement to the Olympic Games.
Point Spread
When it comes to Olympic team sports, spread betting is a common practice. Sportsbooks strategically handicap the betting favorite to level the playing field. By doing so, they encourage betting on both sides of the matchup.
In essence, spread betting allows you to wager not only on the outright winner but also on the margin of victory or defeat. It adds an exciting dimension to Olympic team events, making every point count.
Props
When it comes to sports betting during the Olympics, prop bets take center stage. These wagers revolve around the performance of individual athletes, adding an exciting layer of anticipation to the games.
For instance, imagine you’re following the gymnastics events. With prop bets, you can place wagers on specific aspects, such as predicting the number of events a gymnast will win. It’s a thrilling way to engage with the competition and test your insights into individual athletes’ abilities.
Futures
When it comes to sports betting, futures bets hold immense appeal. And this isn’t limited to just one sport—it extends to the grand stage of the Olympic Games as well.
A futures bet is about anticipating future outcomes. One common example involves predicting the total medal count for a specific country. As the Olympic Games approach, enthusiasts analyze team strengths, individual performances and historical data to make informed wagers.
The beauty of futures betting lies in its early availability. Odds are typically set well in advance, allowing bettors to strategize and place their bets ahead of the Olympic spectacle.
Parlays
Parlay betting during the Summer Olympics offers a thrilling way to engage with the multifaceted nature of the Games. It allows you to combine multiple bets across a wide range of events into a single wager.
This approach can significantly increase potential returns, as the odds of each individual bet are multiplied together, offering the allure of substantial payouts from relatively small stakes. However, it’s important to remember that all selections within a parlay must win for the bet to pay out, which introduces a higher level of risk compared to single-event bets.
Given the diverse array of sports contested at the Summer Olympics, parlay betting becomes particularly enticing. You can mix and match events from athletics, swimming, gymnastics and more, creating a bet slip that not only tests your predictive prowess across disciplines but also heightens the excitement of following the Games.
For instance, you could combine bets on the winner of the 100 meters, the outcome of a basketball game and the gold medalist in the diving competition into one parlay bet.
Live betting
Live betting opens up a world of possibilities for sports enthusiasts. Unlike traditional pre-event wagering, live betting allows you to place bets during the event itself. So, even if you missed the initial betting window, you’re still in the game.
Life can be unpredictable, but live betting adapts to your schedule. Whether you’re watching the game at home or catching snippets during your commute, you can participate whenever it suits you.
Live betting keeps you immersed in the action. As the game unfolds, you’re actively involved, analyzing plays, assessing momentum shifts and anticipating outcomes.
The beauty of live betting lies in its real-time adjustments. You can tweak your bets based on the ongoing dynamics—whether it’s a sudden surge from an underdog or a star player’s injury.
Imagine the adrenaline rush as you bet on the next goal, the next point, or the next basket. Live betting adds an extra layer of excitement to every play.
While pre-event betting focuses on overall outcomes, live betting offers a multitude of options. From specific player performances to in-game events, the possibilities are vast.
Summer Olympics Betting Tips
There are a number of things to consider before betting on Olympic sports. Compared to other sports events, there may not be as much statistical data to analyze, but there are plenty of ways you can narrow your betting choices.
Explore Athletes
When delving into the world of betting, especially for an event as grand as the Summer Olympics, a thorough analysis of athletes’ past performances in previous Olympic Games can be incredibly enlightening. The history of an athlete’s participation, including their medal count, consistency in performance and trends over time, offers a treasure trove of insights.
This examination is not just about tallying victories and podium finishes; it’s about understanding the trajectory of an athlete’s career—how they’ve evolved, adapted and risen to the challenges posed by the world’s most prestigious sporting event. By scrutinizing the patterns or trends in an athlete’s performance across different Games, bettors can glean information that is critical in predicting future outcomes.
This approach of leveraging historical data empowers bettors to make more informed decisions, providing a nuanced assessment of an athlete’s likelihood of succeeding in the current Olympic landscape. This method, though meticulous, is a cornerstone of strategic betting that aims to forecast outcomes based on a solid foundation of empirical evidence and informed speculation.
Don’t bet blindly
In sports betting, emotions can be both a friend and a foe. While passion fuels our love for the game, betting based on emotions often leads to losses. It’s essential to strike a balance between heart and head, especially during the Summer Olympics.
As the Games unfold, it’s tempting to blindly support your home nation in every event. After all, national pride runs deep. But consider this: Betting isn’t about loyalty alone; it’s about making informed choices. So, step back, assess the odds and avoid falling into the emotional trap.
When placing your bets, think strategically. Analyze factors beyond mere allegiance. Consider an athlete’s current form, their past performances and the overall competitiveness of the event. These insights can guide your decisions and enhance your chances of success.
Patriotism is beautiful—it unites us and fuels our cheers. But when it comes to betting, balance patriotism with sound strategies. Root for your nation, but also recognize that smart bets require a clear-headed approach. Remember, the thrill of victory lies in making shrewd choices.
Bet On Sports You Understand
When it comes to sports betting, knowledge is power. Here’s how to make smarter choices:
- Avoid the Unfamiliar: Curling or figure skating might be intriguing, but if you’re unfamiliar with the nuances, it’s best to steer clear. Focus on sports or events where you have a solid understanding.
- Educated Wagers: Betting on familiar events allows you to make educated wagers. You should know the players, the rules and the dynamics. This will significantly increase your chances of success.
- Minimize Risk: Refrain from betting on sports that are foreign to you. Uninformed decisions can lead to losses. Stick to events where you have confidence in your understanding of the sport.
Follow the Lines
When you’re betting on the Summer Olympics, keeping an eye on how the odds and betting lines change over time can clue you into public betting trends, updates on competitors, or even shifts in conditions. This vigilance helps you spot the best moments to place your bets, ensuring you get the most favorable odds possible.
Slow Start
Adopting a “slow start” means you wait before diving into betting as the Olympics kick off. This strategy gives you the advantage of observing athletes’ and teams’ initial performances without the early guesswork. With this insight, you can make more informed decisions, potentially uncovering greater value as the games unfold.
Watch the Weather
The impact of weather on many outdoor Summer Olympics events cannot be overstated. By paying attention to the weather forecasts, you’re better equipped to predict how conditions like wind or heat could influence the performances in events such as athletics or rowing. This awareness allows you to adjust your betting strategies in real-time, giving you an advantage over less observant bettors.
Summer Olympics Betting FAQs
How do you find the best Summer Olympics sportsbook?
Finding the best Summer Olympics sportsbook involves conducting thorough research and considering various factors such as reputation, range of Olympic betting markets, competitive odds, reliability of customer service, ease of use of the platform and availability of promotions. Start by exploring our curated list of the top sportsbooks.
Where can you get the best sign-up bonus?
To find the best sign-up bonus for Summer Olympics betting, it’s essential to explore multiple sportsbooks and compare their promotional offers. Look for platforms that provide generous sign-up bonuses tailored specifically for Olympic betting, such as matched deposit bonuses, bonus bets, or enhanced odds.
What is the best site for betting on the Olympics?
Determining the best site for betting on the Olympics depends on individual preferences and requirements. However, the reputable sportsbooks listed above offer comprehensive coverage of Olympic events, competitive odds, a wide range of betting markets, user-friendly platforms and attractive promotions tailored for the Games.