Can I Bet On The Olympics
Betting on the 2016 Olympics, and the U.S. Men's basketball team, will be permissible in Nevada. AP Photo/Charles Krupa, File The United States men's basketball team is a minus-320 favorite to win. You can also pick the nation to win the most silver or bronze medals on any sport of your choice. Bwin gives you the chance to bet on every sport at the Olympic Games. From individual sports such as 100m, javelin, and heptathlon, to team sports like rowing, volleyball, and football.
- Can You Bet On The Olympics
- Can You Bet On The Olympics In Vegas
- Can You Bet On The Special Olympics
- Can You Gamble On The Olympics
Every two years the world comes together to put on an epic few weeks celebrating excellence in sports. Even though we might not be familiar with all of the events, we watch because athletic superiority is rarely on display in a similar fashion.
Some viewers may tune in simply to appreciate the greatness that only comes with years of work and preparation while others tune in for another thrill in the form of sports betting.
In this article, I’ll lay out some tips for how you can turn the games into a gold medal week for your bankroll.
1 – Look at Last Olympics
For the majority of athletes, there will be four years between Olympic competitions (the exception being athletes that compete in both the winter and summer Olympics). Depending on their age, this period of time can have a major impact on how closely their performance will resemble the previous one.
Amazingly, some athletes, like Michael Phelps, manage to stay on top of their game for more than a decade. He was able to capture gold medals in four straight summer Olympics from ages 19 to 31. Although this is an amazing feat, it’s absolutely atypical.
The majority of athletes are able to maintain his or her performance for two Olympics if they fall within their athletic prime. This can have an effect on gambling because many sportsbooks will give the “incumbent” champion inflated odds.
Because of public bias towards past winners (the public recognizes last year’s winner, and thus gives them much more benefit of the doubt), it can be risky to take the odds-on favorite to win in the Olympics. My suggestion would be that if you find a heavy favorite who is toward the end of his or her career, take the odds on the second and third-most-favored competitor and give yourself two chances to win.
2 – Shop Around
You may have heard that it’s important for online sports gamblers to look around at different sportsbooks to find the best odds for the plays they’re planning on making. If you’ve ever actually done this shopping process (and you should have) for betting on traditional American sports, you’ve probably noticed the odds really don’t change that much across different sites.
In the NFL and NBA, and to some degree MLB and the NHL, most oddsmakers are going to come to the same conclusion. More importantly, the public are going to treat the same odds the same way.
If you’re not familiar with how sportsbooks come to their closing odds, it’s based heavily on the money coming in. The goal is to get even money on either side of a play and collect the juice as the profits.
In the Olympics, there is rarely a public sentiment that can be applied to all of the competitions. This means that odds can vary wildly across different sites.
In addition to differing odds, sportsbooks on the internet will have several different offerings in terms of what you can bet on.
For Example:On one site you might be able to bet on whether or not the winner of the 100m dash will break the world record, and on another site you might find an option to bet on whether the winning javelin throw will end in an odd or even number.
It’s always fun to find crazy prop bets that can help increase entertainment and your overall winnings. In a once-in-four-years event like the Olympics, plenty of options should exist if you seek them out.
Before you wager any of your hard-earned money, look around and see what options are out there. You never know what you’ll find!
3 – Research Recent Performance
They might not be competing for the Olympic gold medal, but the athletes you watch every four years are still competing during the time in between!
Because competitions don’t take place on the national stage, it can be easy to forget that there is a still a wealth of data and results you can find on the athletes who are going to be competing in the upcoming games.
Sure, you can rely on the odds and a brief, pre-competition research session to get the information you’re looking for, but if you really want to have success with Olympic gambling you have to go a step further.
Once you know the field of athletes competing in specific events, go back and see how they’ve performed in those particular events over the past couple of years. It’s likely that their past performances might surprise you if you match them up against the odds you see for the Olympics.
For Example:The sprinter who has consistently posted the second-fastest time in the 200m race the year leading up to Olympics might have the third-best odds to win. This is an opportunity to take a high-value bet…something you should always be looking to do.
Regardless of the sport you want to bet on, there’s going to be some data available that’s more recent than the last Olympics. Seek this out and you’ll put yourself in a better position than other gamblers.
4 – Go Heavy on the Sports You Know
For most Americans, and generally most of the world’s population, the top three long-distance sprinters are generally not top-of-mind information. With that being said, there are a few sports that feature athletes we’re very familiar with.
Basketball, for example, can be a highlight of the Olympics for Americans. Obviously we like to bet on our own team, but if you’ve watched a good deal of NBA games you can spot the stars that play on the teams of other countries.
Whether it’s the Antetokounmpo clan in Greece, Jokic in Serbia, Doncic in Lithuania, or Porzingis in Latvia, there is real, top-tier NBA talent spread across the globe. Having some knowledge of the foreign rosters can give you a tremendous advantage over bettors who don’t have the benefit of watching them every season.
Can You Bet On The Olympics
Can You Bet On The Olympics In Vegas
I would list the MLB players that will take the field for countries outside the USA, but that list would take up the entire article. The sentiment remains the same, however, in that American sports fans will have major exposure to these players leading up to the games.
Finally, soccer is another sport that’s visible year-round on an annual basis for sports fans. Although U.S. sports fans may be slightly less likely to be tuned in to all the names and ability levels, but even Americans tune into the World Cup which provides a glimpse into the national teams.
If the lack of knowledge regarding the Chinese ping pong team (they’re good) or the Australian track and field team is keeping you from betting on the Olympics, simply stick to the sports you know and give yourself a shot at gold.
5 – Bet With Your Head (Not Your Heart)
The Olympics is an inherently emotional sporting event with national pride leading the way. Also, each year there seems to unfailingly be a set of amazing individual stories that inspire us. While it’s easy to develop rooting interests, it’s best not to bet emotionally.
Obviously betting with your heart and not your head isn’t unique to the Olympics. The difference is that we’re a lot less familiar with the athletes and sports in the Olympics, so our heart can be the leading factor for many.
If you find yourself wanting to bet on an athlete or team because of their amazing story, it’s probably best to lay off and wager your money elsewhere.
Conclusion
The Olympics is a beautiful celebration where sports and the international community collide for an awe-inspiring competition. That doesn’t mean it can’t also be a few weeks of winning bets and adding some extra cash to buy your country’s flag.
Can You Bet On The Special Olympics
To summarize, if you want to be successful betting on the Olympics, do your research on events between the last Olympics and upcoming games, bet heavier on the sports you know, and don’t get caught in the trap of betting emotionally.