The 2024 Summer Olympics is back with all its alluring fandom, nationalism, and captivating storytelling in Paris, France. Well, this much-awaited sports event is not just exciting for sports enthusiasts but also for betting enthusiasts. Covering over 32 sports events, Olympics betting involves backing a winner in a track event to betting on football matches. With so many events, the odds will be high. In this article, let us find out how to bet on the Olympics, the different types of Olympic bets, and the time-tested betting tips.
Steps to Bet on the Olympics
If you are new to Olympics betting or have any confusion, you can follow these steps to place bets on your favorite events or sportspersons:
- Step 1- Open an Account
The first step is to create an account on a legitimate Olympic betting site. For this, choose a trusted site, access its platform, and complete the registration or signup form with your name, email address, password, and other relevant details.
- Step 2- Invest an Amount
Once your account is ready, you can deposit a fund by accessing the Cashier section and clicking the ‘Deposit’ button. You can make the payment through Credit/Debit cards, PayPal, Skrill, cryptocurrencies, or other methods.
- Step 3- Select the Event
Next, on the online Olympic sportsbook, tap the Olympics events button available to see the list of events that you can bet on. Choose athletics, swimming, or whichever event you want, and then select the odds.
- Step 4- Place Bets
You can choose the odds and then include them in your bet slip. Fix the stake and place the bet.
Different Types of Bets: Reading Betting Lines and Odds
While placing bets on games, you should be aware of the different bets and the associated lines and odds. Let’s take a look at these:
- Moneyline or straight-up bet is the basic method of betting in which you choose the Sportsbook of the specific event and bet on one side or the other to win. Betting on money line favorites with minus odds will let you win $100 by investing the amount mentioned. While in the money line underdog with plus odds, you will get the amount listed.
- Point spread betting is used to handicap the favorites and underdogs and let bettors bet on even lopsided games. Though this method is not that common, it has brought a major transformation in betting.
- Totals is yet another betting method that involves betting to go over or under the projected total in a game or match.
Other Olympics Betting Types
- Outright Winner Bets as the name suggests, is a bet in which bettors predict the overall winner of an event or match.
- Medal bets are placed on countries that will bring more medals in the Olympics. So, the focus is on the performance of a country in the event.
- Specials or prop bets are bets placed on specific happenings in a particular event that might be associated with the final result or outcome. These are quite common when the Olympics event is announced. One good example is predicting if a record will be broken
- Live betting, also known as in-play betting, is where punters can wager while the event is happening. This method is dynamic as the odds of such bets change in real time depending on the action.
Betting Tips and Strategies
Here are some tips and methods that you can use to win bets in the Olympics:
- As already stated, there is a wide range of events in the Olympics that can be familiar and unfamiliar to you. So, it is wise to bet on those that are familiar to you. Otherwise, wager on events after doing thorough research.
- The next thing is to take things slow as the Olympics is a 3-week event.
- Try to bet on the big nations in the world as their winning chances are high due to vast sports infrastructure and advanced technologies.
Conclusion
Olympics betting is all the more fun and a great chance of winning huge profits. There are a wide variety of games and events to choose from. Though this is the case, you should know the betting lines, odds, types of betting, and the extra measures to take while betting. With all these in hand, you can enjoy the Olympics, wager on your favorite games, matches, and other events, and win huge amounts.
Read More: What makes gambling/betting dangerous?
