How to Bet on the Olympics (2024)
The Olympics are thrilling for people of all ages, with every household on the edge of their seats waiting to see unique, one-of-a-kind sports onscreen. If you are the gambling type, the Olympics might seem ideal to set up some stakes. Is it possible to bet on the event, and if so, how can you do it?
If you’re interested in making bets on the Olympics and want to learn more, you’re in the right place. It isn’t very complicated to bet on the Olympics, and there are more options than ever for interested individuals. Keep reading to learn more about the steps you must take to bet on this exciting time, from the betting site to the betting style.
Head to a Betting Site
First, head to an appropriate betting site to cast your bets on. There are more options than ever before in the modern market, but that also means you must be careful with your selection to ensure you don’t pick an unsafe site. Several top contenders have made themselves well-known in the modern market.
Popular choices for Olympic betting include the following:
● BetMGM Sports
● DraftKings Sportsbook
● Fanduel Sportsbook
● Caesars Sportsbook
There are many more, but these are some incredible selections for Olympic betting. Remember to thoroughly vet any betting site you intend to use before depositing. Typically, most betting sites have a free play program that allows you to test the games before spending your own cash.
Once you find your proper betting site, it’s time to check if the site offers bets on the Olympics and then choose the appropriate betting style you will use to cast your bets on your favorite Olympic events.
Related: Preparing for the 2024 Olympics
Choose Your Betting Style
There are many ways to bet on the Olympics, some more stressful than others. No two bets are the same. It’s vital to examine your options ahead of time, determining what you want to put your money down on before the big day arrives and it’s time to make a choice. From over/under to live betting, the Olympic betting universe is your oyster.
Let’s dive into each of the different betting styles. We’ll discuss moneyline, over/under, prop bets, point spread, futures, live betting, and parlay to get you started. You can choose one of these selections or perform research as necessary to find something you will enjoy as the stakes continue to rise.
Moneyline Bets
One of the most common types of bets is moneyline bets, which is where you put your money down on who you think will be the winner of an event. It’s the easiest bet because there isn’t much more to it than selecting the individual you think will come out on top. It’s excellent for beginners or those confident in their decision.
When selecting your winner in a moneyline bet, it’s an excellent idea to check out the odds. Those more favored to win will have lower odds and a higher probability, while an individual or team less likely to win will have higher odds and a lower probability. Of course, the favored individual or team isn’t always the one who will win.
Over/Under Bets
Over/under bets deal with an educated guess. A number is put forth, and the person betting decides whether the final number will be over or under this digit. This betting strategy is put into effect when people want to bet on how many medals, they think a country will take home.
For example, there might be several medals set at 6.5. If you bet under, anything under six medals means you are a winner. Anything above means you lose out on your bet.
Prop Bets
Prop bets provide an opportunity to bet on unique circumstances in a betting situation. For instance, you can bet on something like the length of the national anthem, which is something people do every single year.
The Olympics are an exciting time to use prop bets. For example, you might bet on who will set the World Record.
Point Spread
Point spread is another popular option to create an even-feeling bet when two teams face each other, and one is much worse or better. This tactic helps at the Olympics if two countries face each other with different abilities.
A bet made on a point spread works by casting differing odds on each team at play. Betters place different bets on their teams to see what happens.
Futures
Futures are bets that will occur over a long period. For example, you might bet on which team will win the most gold medals overall.
If you are patient and want to win big, futures bets are an excellent choice. They take some studying and precision to make perfect.
Live Betting
Live betting is a new offering from many sportsbooks. You can bet on events as they occur in real time, which is an exciting prospect.
Bet on items like goals scored, puck lines, and pre-event numbers to potentially win big. There’s much to enjoy with the high stakes of live betting.
Parlays
Parlays are for those who only want to bet a small amount of money and potentially win a substantial amount of money. The odds are multiplied many times as you choose several events to bet on in one single bet.
Of course, there is a large chance you’ll lose in a parlay bet. You must bet on the ticket to win.
Related: What Does Bitcoin Have to Do With the Olympics?
Research Your Bets
Ensure you are careful with your betting. Avoid betting blindly and look out for injuries during the process - one hurt player will make a massive difference in how your bets fare in the long term. Also, ensure you start slowly and kick it up a notch only as you feel comfortable in the betting process.
It’s nerve-wracking and thrilling to cast bets, especially when taking larger risks. Ensure you don’t push yourself past your comfort limit when significant money is at stake.
Place Your Bet
Of course, the last step is to place your bet! Remember that most bets must be placed before the event begins, and many websites have waiting periods for deposits. This means if you want to bet on the Olympics, you should start this process a few days before your chosen event to ensure you have the time you need to place your desired bet!
Final Thoughts
There are many different betting styles you can take with the upcoming 2024 Olympics, from putting down moneyline bets to betting on live events. As long as you are careful with your selections and go to a proper betting site, everything will go smoothly, and you will have a fun time guessing the odds on the Olympic games.
We hope this information comes in handy as you get ready to enjoy and bet on the upcoming Olympics. It’s a time of triumph, joys, tears, thrills, and so much more, so betting on the already high stakes will only take it to the next level.
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