Last updated on: December 29th, 2022
Legal Olympics Betting
The 2024 Summer Olympics in Paris, France will be one of the most-watched and bet-on sporting events in the world. Legal Olympic betting odds will offer hundreds, if not thousands, of different bets on all of the events. The 2024 Summer Olympics go from July 26th through August 11th, but with futures odds offered well in advance, it is never too early to start betting on the upcoming Olympic Games.
- Olympic Betting Bonuses
- Easy Registration For Betting Accounts
- Quick Payouts For Select Methods
- Several Olympic Prop Bets
Known to many as the top legal online betting site to bet on the Olympics, Bovada has tons to offer. From big paying bonuses, to a platform that any novice bettor could use and great mobile compatibility, they have all the makings of a great online sportsbook. They also have some top quality odds to offer on the Olympics as well that compete with some of the other top online sportsbooks in the industry.
- Live Betting
- Big Bonuses
- Easy To Use
- Mobile Betting
- Best Odds
Cryptocurrency has quickly grown to be one of the top financial methods in the world and BetOnline lets you use many different forms of it to bet on different Olympic events. They accept a total of 17 forms of cryptocurrency for you to make deposits and withdrawals with and they each have plenty of benefits linked to them. Those include no transaction fees, quick processing times, easy limits, and the ability to connect your account directly to your crypto wallets.
- Reliable Banking Methods
- Strong Server Connection
- 10+ Year Track Record
- Huge Assortment Of Odds
- No App Mobile Betting
Using your phone to bet on the Olympics can be done conveniently with MyBookie as they have one of the top mobile betting platforms. First off, they do not offer a downloadable application for your phone that would take up space. To access them, all you are doing is entering their URL and using your login credentials to gain access to your account like normal. They are compatible with some of the top smart devices such as iPhone, Android, Samsung, and basically any other device that has internet access.
- Huge Player Bonuses
- Consistent Odds
- Easy Interface
- Rapid Live Betting
- Legal In Hawaii
The promotions that are offered at SportsBetting are some of the top in the online sports betting space as they give the most bang for your buck. Upon your initial deposit, find a match up to $1,00 or 50%, whatever is less. Even after you take advantage, they offer a reload bonus that lets you earn up to $250 in bonus funds every time you make a deposit.
- Efficient Site Layout
- Full Mobile Betting Suite
- Available Customer Service
- Trustworthy Banking Options
- Fast Payout Times
Safety is a major factor at XBet and they put so many features in place to protect all of your information. They use encryptions to protect your personal and financial information that way every time you make a deposit or withdrawal into your account. In the event of any issue coming up, their customer service happens to be one of the best in the industry as they run 24/7 and will walk you through any issues.
- Worry-free Legal Betting
- Exclusive Bonus Offers
- Constantly Updated Odds
- Premier User Experience
- Full Mobile + Live Betting
Most Popular Summer Olympic Events For Bettors
The 2024 Summer Olympics in Paris are going to be stock full of events for sports fans to bet on. Each event has many different iterations such as individual, duo, and team-based competitions. Finding the best Olympic event to bet on comes down to personal preference and knowledge of the sport, but the most popular events are athletics (i.e. track and field), basketball, and soccer.
2024 Summer Olympic Sports
- Artistic Gymnastics
- Artistic Swimming
- Basketball (3×3)
- Beach Volleyball
- Bmx Freestyle
- Bmx Racing
- Cycling Track
- Football (Soccer)
- Field Hockey
- Marathon Swimming
- Modern Pentathlon
- Mountain Biking
- Rhythmic Gymnastics
- Road Cycling
- Sport Climbing
- Table Tennis
- Water Polo
How To Sign Up At Legal Olympics Betting Sites
igning up for an Olympic sports betting site takes about as long as it took Usain Bolt to finish his Olympic record-setting 100-meter run back at the 2012 Summer Olympics (9.63 seconds). The sign up process for a legal online sportsbook consists of a few steps that are laid out below.
Sportsbook Registration Steps
- First/Last Name
- Date Of Birth
- Phone Number
- Currency Option
- Postal Code
- Welcome Bonus Selection
Shopping Lines At Olympics Sportsbooks
Line shopping is something that needs to be done before betting on any Olympic sport, especially if you are doing so early on before they even start. Some betting sites will offer different odds than others and will pay you out more even if you were to bet the same amount on each betting site. Using the United States odds to lead in gold medals as an example, Bovada might have them at +500 while BetOnline has them at +600. Betting $100 on their odds on Bovada would only profit you $500 while BetOnline’s odds payout $600 on the same $100 wager.
How To Deposit Into A Legal Olympics Sportsbook
Depositing into legal sportsbooks is a quick and easy process that is often made out to be much more complicated than it really is. Users have many different depositing options at their disposal when using an Olympic-worthy sportsbook, with the most common being cryptocurrencies and credit/debit cards. When using either of those methods, depositing into a sportsbook is done similar to a normal online purchase. Each of those methods are explained in more detail below this section, but the online purchasing thought process is the main focus.
- Cryptocurrency: The depositing method with the largest bonuses, fastest transaction times, and highest maximums is cryptocurrencies. The steps to use cryptocurrency are best compared to the electronic version of cash transactions: gather the funds, put them in a wallet, decide on the location to spend the currency, and then spend it. Users must first purchase crypto through an online exchange such as Coinbase or CashApp. From those exchanges, the crypto is then put into a user’s wallet (Coinbase and CashApp act as both the exchange and wallet). Within the wallet, the depositor will enter the URL provided by the sportsbook to send the funds, which will then be available to bet within minutes.
- Credit/Debit Cards: Credit and debit card deposits are the method that most users are most proficient in. Simply choose the sportsbook, click on the credit/debit card icon or section, and deposit. Credit and debit card transactions do come at a cost though, as most Olympic sports betting sites will charge a transaction fee. Withdrawals are not available back onto credit or debit cards.
Picking The Best Olympics Betting Bonus
Every one of the best legal Olympic sportsbooks will offer some form of a deposit bonus. Those bonuses range in match percentage, maximum values, and rollover requirements. Bonuses are a great way to either grow your bankroll or simply practice betting, but they do come at a price. Online sportsbooks attach rollover requirements that mandate how many times the total sum of the deposit (actual deposit value + bonus vale) must be wagered through before any funds may be withdrawn. With that in mind, rollover requirements may be the least visually appealing portion of a bonus, but they are the most important aspect for all Olympic sports bettors.
Olympic Sports Betting Bonuses
|Sportsbook||Bonus Percentage||Maximum Value||Rollover|
|Bovada Crypto Bonus||75%||$750.00||5|
|Bovada Non-Crypto Bonus||50%||$250.00||5|
|BetOnline Crypto Bonus||100%||$1,250.00||14|
|BetOnline Non-Crypto Bonus||50%||$1,000.00||10|
|MyBookie Non-Crypto Bonus||100%||$1,000.00||10|
|SportsBetting Crypto Bonus||100%||$1,000.00||14|
|SportsBetting Non-Crypto Bonus||50%||$1,000.00||10|
|Xbet Non-Crypto Bonus||100%||$500.00||7|
Past Olympic Medal Counts
With Olympic betting odds so focused on countries and their medal counts, it can be beneficial for players to learn about how those countries have done at the most recent Summer Olympics back in 2021. The top ten medal-earning countries in the last Summer Olympics can be found below, as can their odds to win the most medals that year.
2020 Summer Olympics
- United States (-1000): 39 Golds, 41 Silvers, 33 Bronzes, 113 Total Medals
- China (+450): 38 Golds, 32 Silvers, 19 Bronzes, 89 Total Medals
- Russian Olympic Committee (+2000): 20 Golds, 28 Silvers, 23 Bronzes, 71 Total Medals
- Great Britain (+4000): 22 Golds, 20 Silvers, 22 Bronzes, 71 Total Medals
- Japan (+5000): 27 Golds, 14 Silvers, 17 Golds, 58 Total Medals
- Australia (+20000): 17 Golds, 7 Silvers, 22 Bronzes, 46 Total Medals
- Italy (Unlisted): 10 Golds, 10 Silvers, 20 Bronzes, 40 Total Medals
- Germany (+20000): 10 Golds, 11 Silvers, 16 Bronzes, 37 Total Medals
- Netherlands (+20000): 10 Golds, 12 Silvers, 14 Bronzes, 36 Total Medals
- France (+25000): 10 Golds, 12 Silvers, 11 Bronzes, 33 Total Medals
How To Bet On The Olympic Games
Like all forms of sports betting, knowing how to bet on the Olympic games is simple, but making the correct bets requires a bit of knowledge. Every event will have betting lines and odds for you to wager on. Similar odds like moneyline, spread, and over/under will be available for the sports that are applicable. You will be able to wager on sporting events like basketball, track and field, gymnastics, and diving all with betting lines for every country participating. You will also find prop bets like how many medals a given country will have. The Olympics brings forth a slew of betting opportunities for sports bettors. The options on offer at online sportsbooks are substantial, and with the wide array of events during the Olympics, betting opportunities are increased.
Olympics Straight Betting
The straight moneyline, or straight-up bet, is the most common type of Olympics wager you’ll come across. With straight betting, you simply pick the winner of any given individual or team event, and you’re paid out according to the associated moneyline odds. All wager types have their associated moneylines (which indicated the financial terms, or “odds”, of the bet), but straight betting is wholly defined by the moneyline – there is no handicapping involved. An Olympic straight bet on, say, a soccer match, will look something like this:
– Brazil -135 vs. Germany +140
The favorite (in this case Brazil) is always shown with a negative moneyline, which indicates how much money you have to wager to win $100. Meanwhile, the underdog (in this case Germany) is almost always shown with a positive moneyline, which is how much money you stand to win on a $100 wager. (Moneylines are ratios, not minimums, as most Olympics betting sites will take bets of as little as $0.50 to $1.00.)
Olympics Spread Betting
Spread betting is less common in the Olympics (it is an absolute standard in most sports), though you’ll find plenty of spreads over the course of the tournament. Spreads are typically used mostly in team sports, as they are a way to handicap the favorite to encourage more betting on both sides. The following rugby line is an example of Olympic spread betting:
– Fiji +7.5 (-110) vs. Japan -7.5 (-110)
Here, Fiji is a 7.5-point favorite over Japan, who is consequently a 7.5-point underdog. Thus, a wager on Fiji is only a winner if they beat Japan by 8 or more points. A wager on Japan will be a winner if Japan wins outright or loses by up to 7 points. Half-point increments are usually used to avoid “push” results, which causes the sportsbook to refund all action on the wager and is thus unprofitable for the service. Note the moneyline in parentheses, which shows that regardless of which team you choose, the bet’s “cost” is a ratio of $110 risk to $100 reward.
Olympics Totals Betting
Olympic totals betting is the third of the “big three” wager types you’re going to come across when betting on the Games. Unlike the above two, however, totals bets aren’t concerned with winners or losers. Instead, they are numbers assigned to a contest that represent the final total points scored between both teams or competitors. The sportsbook picks a number, and you simply wager on whether the total final score will be higher than (“over”) or lower than (“under”) that score. This is why totals wagers are often called over/under – aka O/U – wagers. Consider the following Olympic basketball totals line:
– United States vs. Spain O/U 161.5 (-110)
In this matchup, your sportsbook has set the O/U at 161.5 points. Let’s say the US beats Spain 82-76. This adds up to 158 points, which is under the book’s published number. Thus, the “under” bet wins. Had the final score been something like 94-87, that would have added up to 181, well over the book’s O/U threshold, so the “over” bet would have won. Again, note that the associated moneyline or “price tag” is included in parentheses beside the bet.
Olympics Futures Betting
2024 Olympic futures betting odds operate the same way as any other futures bet does for other sports. Betting in advance often comes with larger payouts but at the cost of additional risk and time. Futures bets are not only a way to gain extra value on bets, but they also build the excitement for the games themselves.
Other Legal Olympics Sports Betting Options
There are legal Olympics betting options you’ll come across at various sportsbooks both online and on-land. These include things like futures bets, player prop bets, team prop bets, specials, parlays, and more.
Futures are extremely prevalent in Olympics betting, as large field odds are posted well ahead of time of most contests. Individual sports have especially robust futures selections, where you can wager on certain outcomes weeks or even months in advance.
Prop bets take the form of over/under and “yes/no” bets, and these can be individual-based or team-based. Examples of Olympic prop bets would be to pick whether or not a certain athlete will clear the 100-meter sprint under a certain time limit or whether a basketball team will give up more or fewer than a given number of points in the paint.
Specials bets are akin to props, but they’re typically concerned with things that are ancillary or tangential to a given matchup. Even the Olympic Games itself can have specials bets, like how long each country’s anthem will be on opening night to how many spectators will be in the stands for a particular soccer match. Additionally, bettors can string multiple wagers together to form parlays, which will always pay out better than hitting on all the constituent bets individually. If a wager is live at your book of choice, chances are you can add it to a parlay ticket.
Betting On The Olympics From Your Mobile Phone Or Tablet
With all the different ways to wager on the Olympics, you might feel overwhelmed. Don’t! In fact, not only is it simple to read the odds boards and wager on the Olympics, you can do so quickly and efficiently, even on your smartphone or tablet! All of the top offshore sportsbooks have mobile-optimized betting interfaces for their wagering products, allowing you to quickly find what you’re looking for and submit wagers in just a few taps and swipes.
Some domestic US books even have online, mobile interfaces, though these – unlike the offshore solutions – are geo-fenced to your state’s borders. That is, in order to use a state-licensed online book to wager on the Olympics, you’ve physically got to be in the state at the time you place your wager. Offshore books are not bound by these same regulations, however, so you can use them anywhere you are in the entire country. Otherwise, the experiences will be very similar, with the exception that offshore, overseas books do tend to have more wagering options than you’ll find at domestic sites.
Live Betting On The Olympics
Live betting odds on the Olympics are now more accessible than ever. Choosing to live bet on the games has proven to be a great strategy for many bettors as they can get a feel for how the games are going, their individual participants, and sometimes how the game is played. Live betting has also shown it’s worth to bettors when they miss the start of the game, as live betting options mean that it is never to late to get in on the action.