Olympics Betting - Complete Guide
Originally slated to start in July, the 2020 Tokyo Olympics has been rescheduled because of the pandemic that grips the world. It is moved to 2021. With this, people who are interested in Olympics betting will have to wait before they can wager.
Whether it is for 2021 or 2024 Olympics betting, we got you covered. In this short guide, we’ll talk about some of the most important things you need to know, such as the types of bets that you can place and some useful tips. We may be far from the actual Olympics event but learning how to bet as early as now can help you win big!
How Does Olympics Betting Work?
Betting on the Olympics is similar to betting in any other sports. You will have several choices on how to wager. From the players to the odds, you have to consider several things. If you are clueless about how and where to bet, below are some of the most common wagers worth considering.
Straight Moneyline Betting
Like with betting in other sports, this is the most popular if you would like to wager on the Olympic games. You simply pick a player or team you believe will win. For instance, if you are betting on a basketball game, you need to pick the team you believe will win. If you are betting in swimming, then you choose a swimmer. There is no handicapping involved, which makes it the simplest type of bet you can make.
Understanding Olympics betting odds is important before you place any type of bet. In the case of a moneyline bet, the odds will look like this:
- France -130
- Germany +140
The team with negative odds is the favorite and the positive is the underdog. In our example above, the favorite is France and the underdog is Germany. The number next to the plus or minus sign shows how much you need to bet or how much you will win. If it is in the favorite team, then it shows how much you need to bet to win $100. Going back to our example, you need to bet $130 on France to win $100. On the other hand, for Germany, since it is the opposite, it works differently. You will win $140 if you bet $100.
While this is the standard type of betting in many sports, it is not as popular in the Olympics. You can bet spreads on team sports, such as basketball and football. It will handicap the favorite, which will help to even the bets. This will increase betting even on the underdog.
The odds for spread betting will look like this:
- Brazil +7.5
- Germany -7.5
The favorite is Germany, as indicated by the minus sign and the underdog is Brazil as noted by the plus sign. This means that Germany has to win by eight or more points. On the other hand, if you bet on Brazil, they should win. If they lose, you can still win if their loss is not more than seven points.
With this type of Olympic bet, you will not be concerned about who will win or who will lose. Instead, there will be a number assigned by the bookie. In your bet, you will pick if the combined scores will be over or under the number stated.
How Do You Choose the Best Olympics Betting Website?
When it comes to online betting Olympics, the choices will be plenty. Nonetheless, this does not mean that every website can deliver the best wagering experience. To help you narrow down your choices, below are some of the most important considerations:
- Reputation: Choose a reputable website to be sure that it is legitimate. Ask around from people you know or read reviews to help you narrow down your choices.
- Promotions: Some betting websites have irresistible promos, including bonus money that you can use for betting.
- Payment Methods: Whether it is for deposits or withdrawals, the website must offer several options. Some of the most popular include debit and credit cards, e-wallets, and bank transfers.
- Fees: Websites may charge a fee for using this platform. Consider this as their commission. See to it that the fees are reasonable.
- Ease of Use: Pick a website that will be effortless for you to use. Otherwise, the betting experience can be a nightmare.
Looking for a reputable website where you can bet for the Olympics? Make sure to check out Digibet.
Best Olympics Betting Tips
If you are new to betting in Olympics, below are some of the most important tips that can help you win.
Shop for Lines
One of the most important betting tips Olympics is to spend time line shopping. It is like regular shopping. You will check multiple websites and look at their lines for Olympic sports and events. Pick a line that offers an optimal return for the amount that you will wager.
Do Your Research
The Olympics can be overwhelming. There are plenty of games and players to watch. Before you wager, engage in thorough research, which will allow you to make smarter bets.
Bet on Sports You Love
It is best to limit your bets to sports that you love or those that you are knowledgeable of. Because of your passion for such sport, you will be more familiar with the teams and the players, making it easier to come up with well-informed wagers.
How to Start Betting on Olympics?
The first thing that you have to do in Olympics betting is to pick the right platform. Earlier, we talked about the most important considerations in finding a betting website.
After finding a good website, create an account. Complete the verification process, which will differ from one platform to another. Next, start funding your account. Most websites will require a minimum deposit amount. Once your account has been funded, you can now start betting. Follow the games, and if you win, follow the rules of the website when it comes to claiming your winnings.
After reading this Olympics betting guide, we hope that you can now make well-informed choices. Take note of the bets and tips mentioned above to increase the chances of winning!