The 2024 Summer Olympics are almost here and for many sports bettors, this is the first Summer Olympics where legal sports betting is an option. As a result, there is a lot to learn for many sports bettors looking to get involved in the games. In this Olympics betting guide, we go over what bettors need to know about wagering on the games, including the best places to do so and what bettors should think about before locking in their wagers on the Paris games.
Best 2024 Olympics Sports Betting Promos
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Best Sites For Paris Olympics Betting
Just like some athletes are destined for gold medals, there are some sportsbooks that are just a cut above their competition. Below is a list of the best Olympics betting sportsbooks, along with some information on what makes them worth using for bettors before, during, and after the games.
Bet365
One of the things that makes bet365 so good for Olympics betting is their experience with international sports. This site was active in Europe and around the globe before it expanded into the US market. That makes them a trusted authority on sports like tennis, soccer, and some of the other niche markets that make betting on the Olympics so much fun.
DraftKings Sportsbook
In terms of the sheer number of Olympics betting markets available, it is hard to beat DraftKings Sportsbook for the gold medal. They offer a huge selection of Olympic events to wager on, including smaller sports like beach volleyball and individual races in track and field and swimming. The action for the Paris games simply will not stop at this highly-regarded site.
BetMGM
Those who are looking for a little extra value when betting on the Olympics will love betting at BetMGM. They regularly offer profit boosts and other perks to give bettors a potentially better payout on some for their wagers. That could turn a podium performance betting on the games into a gold medal showing.
How to Sign Up at an Olympics Betting Site
Signing up to bet on the Olympics is very easy to do at all of the sportsbooks offering promos on the games above. To sign up and claim your bonuses, all you have to do is follow the list of instructions below and make sure to observe the terms and conditions of any bonuses that you choose to take advantage of.
- Click the Claim Bonus button for each offer you wish to use
- Click the Sign Up or Register button at each of those sportsbooks
- Fill in the forms with the information requested by each sportsbook
- Use any required promo codes when registering at each site
- Make your first deposit
- Place your first bet
- Receive your bonuses, as long as your deposits and bets meet the bonus requirements
Types Of Olympic Bets
There are so many different types of bets that can be placed when wagering on different Olympic events. Here, we break down what each of those bet types means and how to use them when trying to place winning wagers on the Paris Olympics.
Moneyline
Moneyline betting is always the easiest type of bet to understand, as the goal is to simply predict which player or team is going to win an upcoming matchup. For example, you might see moneyline bets up for grabs during Olympic tennis matches, as your goal is to predict which competitor will advance to the next round of that tournament. With moneylines, it does not matter what the margin of victory is, but simply who comes out on top.
Point Spread
Point spreads are similar to moneyline bets, only with the margin of victory being a factor in the outcome. With point spreads, a handicap is applied to the side you bet on, with the highest score after that handicap is applied being the winning side. Bettors have to choose whether to take the points with the underdog or give points away with the favorite in each game, taking a number of factors into account when doing so. You might see this during Olympic basketball games, with USA basketball a heavy favorite in most games they play in dont be afraid to take another country for a upset win in the Olympics!
Over/Under Betting
Over/under betting is a type of betting where the winner of each game does not matter. Instead, the goal is to predict how much scoring will happen in a given game between the two teams or players competing. Sportsbooks set a total number of points for a game, and bettors will get to pick whether they think the two sides will combine to go over that number or stay under it. A sport like Rugby 7s will have totals available throughout the Olympic tournament.
Futures Betting
In futures betting, the goal for bettors is to predict who will come away with the gold medal in each event. Instead of betting on individual games, bettors are looking further ahead to try and pick which side will come out on top of the entire event. This can be done in sports like handball, where bettors can wager on which team will win the gold before that event’s tournament even begins.
Prop Bets
For those who want to take a deep dive into some Olympic sports, prop bets are available to do just that. Prop bets let bettors wager on individual player performances or other small facets of a game that have nothing to do with the actual outcome. For example, bettors can wager on how many points a player will score in an individual basketball game, allowing bettors to analyze individual matchups and reap the benefits.
Parlays
For those who want to get adventurous, parlays are also an option for Olympics betting. Parlays allow bettors to wager on multiple outcomes in one bet, potentially turning a small bet into a huge payout. But every pick in a parlay needs to win in order for that bet to be successful, which is not as easy as it sounds.
Strategies For Olympics Betting
With Olympics betting being so new to so many people, there are a few strategies bettors should keep in mind before placing their bets on the Paris games. Here are a few of the most important things to consider before locking anything in.
Stick to Sports You Know
It may be tempting to just bet the board during the Olympics, wagering on everything from track to handball to water polo. But if you have never even watched a game or a race in those sports, your chances of beating the sportsbooks in that event are not going to be all that good. Instead, you should stick to the sports you know to maximize your chances of coming out ahead during the Olympics.
Look For the Best Odds
Every sportsbook has slightly different odds for each event of the Olympics. That means some sportsbooks will have more profitable odds than others and bettors should make sure to give themselves multiple sportsbook options. This will allow bettors to find the odds that will pay out the most for each event, maximizing profit potential and reducing loss potential.
Avoid Blind Patriotism
It is also going to be tempting to just bet on teams and players from your home country in every Olympic event. But, believe it or not, no country wins every single Olympic event. Bettors should make sure to analyze each game and each event impartially to give themselves the best chance at coming out on top of each event throughout the Paris games.
Olympic Event Previews
Now that you know how to bet on the Olympics, we have some individual event previews for you to check out as well. Click on the links below to get our previews of some events that are likely to generate some betting interest in France.
- Olympic Men’s Basketball Tournament Preview
- Olympic Women’s Basketball Tournament Preview
- Olympic 3×3 Men’s Basketball Tournament Preview
- Olympic 3×3 Women’s Basketball Tournament Preview
- Olympic Men’s 100m Dash Preview
- Olympic Women’s 100m Dash Preview
- Olympic Men’s 200m Track & Field Preview
- Olympic Women’s 200m Track & Field Preview
- Olympic Women’s 1500m Freestyle Swimming Preview
- Olympic Women’s 800m Freestyle Swimming Preview
- Olympic Men’s 400m Freestyle Swimming Preview
- Olympic Men’s 100m Freestyle Swimming Preview
- Olympic Men’s 50m Freestyle Swimming Preview
- Olympic Women’s 50m Freestyle Swimming Preview
- Olympic Women’s 100m Backstroke Swimming Preview
- Olympic Women’s 100m Butterfly Swimming Preview
- Olympic Men’s 100m Breaststroke Swimming Preview
- Olympic Men’s 4x100m Freestyle Relay Swimming Preview
- Olympic Women’s 4x100m Freestyle Relay Swimming Preview
- Olympic Men’s 400m Individual Medley Swimming Preview
- Olympic Men’s Tennis Tournament Preview
- Olympic Women’s Tennis Tournament Preview
- Olympic Men’s Golf Tournament Preview
- Olympic Women’s Golf Tournament Preview
- Olympic Men’s Soccer Tournament Preview
- Olympic Women’s Soccer Tournament Preview
- Olympic Men’s Rugby 7s Tournament Preview
- Olympic Women’s Rugby 7s Tournament Preview
