Olympic sports betting isn’t synonymous with the Olympics although since the beginning of online sports betting, bookmakers around the world have offered odds on every Olympics sport. Betting on the Olympic games was only recently authorized with the first Olympic games available for betting in Nevada was Rio 2016 and the second being the 2020 Summer Olympics.
Olympic betting was previously illegal under the law concerning amateur sports; however, the Nevada Gaming Board voted in February 2015 to amend the laws that allow betting sites to take bets on Olympic events. The United States men’s basketball team got the most bets as they opened at -320 to win the goal medal in Rio 2016, making betting on the Summer Olympics is something people can’t miss. The fact that they are only organized every four years and the sports are frequently changed with new sports added and some that have been removed almost every year, most of the sports are available for betting in domestic or international competitions. Olympic Betting Strategy
Olympic betting is much similar to other competitions in which bettors should still use line shopping and bankroll management to prepare themselves to bet the Games by gaining knowledge about the sports and each team. If anyone wants to wager on medal counts of each Olympic team, they need to gain knowledge of each country’s competitors on the whole although with individual sports, much of the knowledge is already out there.
However, if one is usually betting on ice hockey and understand the game thoroughly, the Olympics just offers more betting opportunities to win. The same applies for other sports like curling, however, bettors are required to have a little more international knowledge. Betting on the summer Olympics is much similar to betting the same sport in the Olympiad where bettors can use their knowledge of betting markets on seeking some +EV betting opportunities.