How to Bet the Olympics Online


Examples of the medals handed out at the Tokyo Olympics

Tokyo 2020 Olympic medals are unveiled during a One Year to Go Olympic ceremony event in Tokyo. (AP Photo/Koji Sasahara, File)

  • The XXXII Olympiad (2020 Olympic Games) officially begin on Friday, July 23, and go through Sunday, August 8 in Tokyo, Japan
  • The USA is favored to win the most medals and most gold medals
  • Everything you need to know to bet on the Olympics is right here

A year late due to the COVID-19 pandemic, the sporting world is gathering in Tokyo for the Games of the XXXII Olympiad. It’s the biggest sports event on the planet. People who normally don’t watch sports will watch the Olympic Games.

They’re that big of a draw. The Olympics are also a massive opportunity for sports bettors. But if you’re new to the Olympic Games, no worries. Everything you need to know to bet on the Olympics is right here.

When Do Olympics Start | Where Can You Bet Olympics Online | Full Olympics Schedule | Sportsbook Promos for Olympics

When Do The Olympics Start and Finish?

The Opening Ceremony of the Tokyo Summer Olympic Games will be broadcast live on NBC beginning at 6:55am ET on Friday, July 23.

It will be the network’s first-ever live morning broadcast of an Opening Ceremony. Technically, though, events such as women’s softball and soccer are already underway in Tokyo.

The closing ceremony of the Tokyo Summer Olympic Games will also be broadcast live on NBC beginning at 7am ET on Sunday, August 8.

The Olympic flag will be passed by The Governor Of Tokyo Yuriko Koike to IOC President Thomas Bach. He will then hand the Olympic flag over to the Mayor Of Paris Anne Hidalgo, host of the 2024 Summer Olympics.

This is the second Summer Olympiad to take place in Tokyo. The Japanese city also played host to the 1964 Summer Games.

Have Any Events Been Canceled?

Although the Summer Olympics were delayed one year due to the COVID-19 pandemic, all events will be contested. The Olympics will feature 33 sports and 339 events across 42 venues.

The majorty of events are being contested in the Greater Tokyo area, although some soccer games and the marathon will take place in the northern city of Sapporo.

Which Sportsbooks Have Betting Odds for Olympics?

Sportsbook Offering Olympic Betting
DraftKings Yes
FanDuel Yes
BetRivers Yes
BetMGM Yes
PointsBet Yes
William Hill Yes
FOX Bet Yes
SugarHouse Yes
Betway Yes
BetVictor Yes
Bet365 Yes
888sport Yes
Unibet Yes

The Olympic Games are kind of a big deal, so all of the leading online sportsbooks are offering betting markets that run the gamut of Olympic competition.

Top betting sites such as DraftKings, FanDuel and BetMGM are dipping their toes into just about every sport there is to offer on the Olympic menu.

If you’ve got a hunch that Jang Woojin is going to win the men’s singles table tennis gold medal, you can get a bet down of the South Korean player at odds of +5000. That’s some pretty solid value on a player who is ranked #12 in the world by the International Table Tennis Federation.

Summer Olympics Schedule of Events

Event Dates
3×3 Basketball July 24-28
Archery July 23-31
Artistic Gymnastics July 23-August 3
Artistic Swimming August 2-4; 6-7
Athletics July 30-August 8
Archery July 23-31
Archery July 23-31
Badminton July 24-August 2
Baseball July 24-August 5; 7
Softball July 24-August 5; 7
Basketball July 23-31
Beach Volleyball July 24-August 7
Boxing July 24-August 8
Canoe Slalom July 25-30
Canoe Sprint August 2-7
Cycling BMX Freestyle July 31-August 1
Cycling BMX Racing July 29-30
Cycling Mountain Bike July 26-27
Cycling Road July 24-25; 28
Cycling Track August 2-8
Diving July 25-28; July 30-August 7
Equestrian July 23-25; July 27-August 7
Fencing July 24-August 1
Soccer July 21-22; 24-25; 27-28; 30-31; August 2-3; 5-7
Golf July 29-August 1; August 4-7
Handball July 24-August 8
Field Hockey July 24-August 6
Judo July 24-31
Karate August 5-7
Marathon Swimming August 4-5
Modern Pentathlon August 5-7
Rhythmic Gymnastics August 6-8
Rowing July 23-30
Rugby Sevens July 26-31
Sailing July 25-August 4
Shooting July 23-August 2
Skateboarding July 25-26
Sport Climbing July 25-August 1
Surfing July 23-31
Swimming July 24-August 1
Table Tennis July 24-27
Taekwondo July 23-31
Tennis July 23-31
Trampoline July 30-31
Triathlon July 26-27; 31
Volleyball July 24-August 8
Water Polo July 24-August 8
Weightlifiting July 24-28; July 31-August 4
Wrestling August 1-7

There’s very little being contested during the Tokyo Summer Games that bettors will find to be lacking for action. Certainly, the popular sports such as basketball, boxing, athletics, baseball, soccer, tennis, golf, gymnastics and swimming.

However, the wagering doesn’t stop there. If you want to place a wager on Hungarian fencer Gergely Siklosi to win the men’s individual epee, then you go with your bad self. There’s a betting line for that.

Who do you like in the equestrian dressage team event? The USA team is offering odds of +1300 to win the gold medal.

Archery, artistic swimming, badminton, beach volleyball, canoeing, cycling, field hockey, handball, judo, karate, modern pentathlon, rowing, rugby sevens, softball, shooting, sailing, table tennis, taekwondo, trampoline, triathlon, volleyball, water polo, weightlifting, even sport climbing and surfing. If they’re lining up to play the sport in Tokyo, odds are you’ll be able to get a line on it.

DraftKings is presenting a gift Olympic promotion to new customers. They can turn a $1 wager into $100 if Team USA wins a single medal at the Tokyo Olympics. Simply place a $1 bet on any Olympic event. When the bet is settled and the USA wins an Olympic medal, players will be presented with $100 in the form of four $25 free bets.

The USA is favored to win an Olympic-leading 112.5 medals in Tokyo, so any DraftKings newcomer who takes advantage of this offer is going to have an extra $100 to wager.

FanDuel is offering players a couple of Olympic-related promotional in order to cash in some free bets while the flame of the Olympic torch burns brightly in Tokyo. Bettors who place $100+ in wagers on the Olympics at FanDuel prior to July 26, 2021 will be awarded a $1 bonus in site credit for each gold medal the USA wins during the Olympics.

Newcomers at FanDuel can also get in on the action from the five rings. New users who bet $10-$19 in any Olympic market will get $100 in sportsbook site credit. If they bet $20 on an Olympic wager, then the reward in site credit will be $200.

If the USA wins, bettors will also win with the BetRivers/SugarHouse Olympic free bets promotion. Wager $500 or more on the Olympics at BetRivers and bettors will get a $1 free bet for every USA bronze medal. Wager $1,000 or more and receive $2 for every silver medal and $1 for every bronze medal won by Team USA at the Games. Players who wager $2,500 or more will get $3 for each gold medal, $2 per silver medal and $1 per bronze medal.

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Robert Duff

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