The 2024 Summer Olympics in Paris will offer a smorgasbord of betting opportunities. A total of 32 different sports will be played at the Summer Olympics, and sportsbooks are expected to have markets for all of them. Below, we will highlight how to bet on the Summer Olympics and explain the different Olympics odds offered.
How to bet 2024 Summer Olympics
This is a guide on how to bet on the Olympics. To begin, sign up at one of the sportsbooks below and take advantage of their welcome offer.
Caesars Sportsbook
Caesars offers a variety of Summer Olympic betting markets. Users will find odds posted for medal counts and popular events like swimming, track and field, basketball, and more. Caesars Sportsbook is expected to have one of the most extensive overall Olympic betting menus, with lines posted for almost every event, including surfing, archery, and triathlon. New Caesars users can take advantage of a generous welcome offer of up to $1,000 back as a bonus bet if your first bet loses, using promo code THELINESDYW.
BetMGM Sportsbook
BetMGM is ready for the games to begin and expected to have the most major betting markets, including odds for Simone Biles and the Team USA women’s gymnastics team, along with LeBron James and Steph Curry gold medal odds. BetMGM Sportsbook also has the strongest overall bonus value with up to $1,500 in bonus bets using code THELINES.
Bet365 Sportsbook
Since bet365 Sportsbook is based on the other side of the Atlantic, the book is the place to find Summer Olympic odds for almost every competition, including which country will win the men’s handball team gold. Be on the lookout for Katie Ledecky 400 freestyle prices, along with odds for whether or not Team USA will win the most gold medals in Paris. First-time bet365 users also can get up to $1,000 in bonus bets using code THELINESVA.
DraftKings Sportsbook
DraftKings is known for offering betting markets for every sporting event, and the 2024 Olympic Games in Paris is no exception. You’ll find odds for beach volleyball, field hockey, water polo, and more. Look for betting markets well beyond the overall winner. If you’re looking for Team USA men’s basketball props, DraftKings Sportsbook has Joel Embiid and Kevin Durant prices for the most points scored during the Olympic tournament. DraftKings has a welcome promo valued at up to $200 in bonus bets for new customers.
Fanatics Sportsbook
It might be the newest in the Summer Olympics betting game, but don’t expect Fanatics Sportsbook to cut any corners regarding available markets. Noah Lyles odds to win the 200, Grant Holloway 110 hurdle prices, and 3×3 men’s basketball tournament lines are just a small sampling of a much larger menu coming soon.
The 2024 Summer Olympics in Paris will begin on Friday, July 26, 2024. Given how many new states have legalized sports betting since the last Olympic Games, it very well could be the most wagered-on Olympics in US history.
The sportsbooks listed above already have futures markets available for betting. Lines for specific games and events will be provided as each competition approaches.
Step- by-step guide on how to sign up for an Olympic betting site
Here is a step-by-step guide on how to sign up for an Olympic betting site.
1: Click on one of the sportsbook links above.
2: Enter basic information such as your first and last name, date of birth, and the last four digits of your social security number.
3: Create a username and password.
4: Enter bonus code if applicable
5: Deposit funds into your account (if applicable) to receive the sportsbook’s welcome bonus.
6: Click on the sportsbook’s Summer Olympics tab to see all of the available markets.
7: You’re ready to bet on the 2024 Summer Olympics!
ways to bet on the Paris Summer Olympics
Not only are there dozens of Olympic sports to bet on, but there are also many different betting markets for each sport. Here are some of the most popular ways to bet on the Olympics.
Olympic futures
Futures are extremely popular when it comes to betting on the Olympics. There are medal futures for countries, including which country will win the most total gold medals at the Olympics. Another option is betting which country will win 5-on-5 basketball at the Olympics. There are futures markets for virtually every Olympic competition. And we expect the Olympic futures menu will continue to expand as the opening ceremonies draw closer.
Olympic game lines
Team sports at the Olympics will have familiar game lines for American bettors. For instance, you can bet on the spread, moneyline, and total for all men’s and women’s basketball games. You will also be able to bet on three-way money lines for soccer.
Sportsbooks will make one country the favorite and the other the underdog. A perfect example is the USA women’s basketball opening pool play game against Japan. Diana Taurasi and company have money line odds of -2100 to win the game outright compared to +1100 for Japan. The implied odds of an American win are 95.45% versus 8.33% for Japan. Bettors would likely look at other ways to bet the game, as a $100 wager on a Team USA win would only amount to a $4.76 profit.
Betting the point spread is one of the most popular ways to wager, as the odds are typically -110 on either side compared to the unattractive -2100 with the ML. In this case, the Americans are listed as -16.5 favorites. The ticket is a winner if they beat Japan by 17 points or more. The profit would be $90.91 compared to the unimpressive $4.76 with the straight-up win scenario mentioned above. However, if Japan only loses by 16 points or wins outright, tickets on the underdogs will pay out.
Olympic props
We can’t talk about how to bet on the Summer Olympics without mentioning prop bets. And they can add some excitement to the Olympic viewing experience. Since the proposition may or may not directly affect the final result, bettors could enjoy a payout before the event ends. Let’s look at an example sportsbooks might offer for the Paris Olympics.
With the 5×5 men’s basketball tournament, one prop could be which player will score the most points for the USA. This bet accounts for all the pool play games through the medal round action. The odds will vary based on the projected scoring leaders. Players like Joel Embiid, Kevin Durant, and Anthony Edwards might be listed with prices between +400 and +500 compared to Jrue Holiday and Bam Adebayo in the +8000 to +10000 range.
Like with the Super Bowl and The Masters, sportsbooks will roll out a more expansive props menu as it gets closer to the date of specific Olympic betting events.
Olympic parlays
Parlays could be an appealing alternative when considering different approaches to betting on the Summer Olympics because you’ll be combining multiple wagers into one bet. More importantly, depending on the odds, the potential payout could be much larger versus several individual bets. The catch is all legs of the parlay must hit for the ticket to be a winner. Say you’re confident that Team USA men’s and women’s basketball teams will easily cover the spread in their respective opening contests in Paris. And to spice things up a bit, you toss in a couple of reasonable player props like LeBron James to have a double-double against Serbia and A’JA Wilson to score 15+ points versus Japan.
We expect promo pages for the best sports betting apps to include Olympic parlay and profit boosts. One example could be BetMGM’s 33% odds boost token available for certain Olympic events.
Olympic live betting
Even though Paris is six hours ahead of New York City, the books will roll out countless live betting options with the Summer Olympics. The big difference with this concept is bettors have opportunities to place wagers as men’s volleyball or women’s soccer competitions unfold on the networks of NBC. Regarding why, bettors might find better pricing once the event begins than pregame.
Odds will constantly shift throughout Olympic events based on how the teams and athletes perform. However, with prices rapidly changing, bettors will not have much time to consider whether it’s a good time to place a bet. All books include a live betting menu, so finding all the available options will not be hard.
Summer Olympic sports to bet on
There are a variety of Summer Olympics sports to bet on. Some of the top options are:
- Olympic Basketball odds
- Olympic Gymnastics odds
- Olympic Swimming odds
- Olympic Track and Field odds
- Olympic Triathlon odds
Paris Olympics Betting FAQ
Yes, you can bet on the Olympics if you reside in a state where sports betting is legal.
The 2024 Olympic Games in Paris will include 32 sports.
Summer Olympic athletes compete for 329 gold medals at the Summer Olympic Games in Paris.
Team USA is a heavy favorite to win the most gold medals in Paris, with -750 odds at DraftKings. China is next, with +350 odds.
It is perfectly legal to bet on Olympic Sports, such as men’s and women’s gymnastics, in which judges determine the outcome.