Last Updated on July 22, 2021


While most people know the 2020 Olympics were pushed back to 2021, some may not realize that you can bet on the Olympics this year. The Olympics are set to take place in July, and last through the end of the summer with dozens of various sports. With that amount of sports and athletes involved, it makes for an awesome set of betting markets that you can wager on in legal sports betting states.

Let’s take a look at this 2021 Olympic betting guide, as we take a look at the betting markets available for the Tokyo Olympics, which sports to wager on, the props available to bet on for the summer games, and odds and more for the most popular markets available for wagering.  



Olympics Betting Odds and Markets

At many legal sportsbooks, especially on DraftKings Sportsbook for this year’s Tokyo Olympics, there are dozens of betting markets available for sports bettors. Given that there are nearly three dozen different sports, dozens of countries, and countless athlete’s participating, the betting markets will be endless for the 2021 Olympics. Let’s take a look at these markets, and some various odds for those available to wager on already.

Here is a look at some of the betting markets and odds available to wager on at DraftKings Sportsbook.

Olympic Medal Betting

  • Total Number of Medals
  • Total Number of Gold Medals
  • Over 20 Countries of over/under medal props

Mens Singles – Tennis

  • Finishing Position

Bet on Novak Djokovic, Alexander Zverev, and more.

Women’s Singles – Tennis

  • Finishing Position

Bet on Ashleigh Barty, Naomi Osaka, Simona Halep and more to medal in the Olympics.

Basketball – Women

  • To Win

The USA are heavy favorites at -1250 on DraftKings, but you can wager on any country to win over the US at long odds.

Rugby Sevens – Men

  • Top 3 Finish
  • Winner

Volleyball – Men

  • Top 3 Finish
  • Winner

Soccer – Men

  • To Win

Soccer – Women

  • Winner

Rugby Sevens – Women

  • Winner

Softball – Women

  • Winner

In addition, there are further props including betting on which country wins the most gold medals and more.


USA Basketball odds fall after initial betting

As DraftKings‘ Julian Edlow explained, USA basketball to win gold has plummeted down from initial opening odds of -1000 to win gold all the way to -320. While the US is still the favorite, Australia and Spain odds are climbing to +750 and +900, respectively. Nigeria is now +3000 after opening at +50000 as well, so the odds have shifted greatly for the Men’s Basketball betting market.


Simone Biles set to make history in 2021 Olympics

Is Simone Biles the best US Olympian since Michael Phelps? She is certainly the most popular, and with her incredibly performances at Olympic trials there are high expectations for the American in the 2021 Olympics.

After winning five medals in 2016, four of them being gold, Biles is set to improve in this year’s games. In addition, there is more history to be made from Biles. Here are some records she could break:

  • With two more medals, she becomes tied for the most decorated Olympic gymnast ever.
  • If she wins three more medals, she is the most decorated every and tied for most overall.
  • Four medals won would be the most decorated gymnasty of all time.

Biles is set to compete in the following events: all around, apparatus, vault, uneven bars, floor exercise, and balance beam. If all goes well, she could finish with 35 total medals.


Will the USA Men’s Basketball team win the gold medal?

Basketball is certainly a sport where the United States is favored every four years, and this year is no different. With the opening odds at DraftKings Sportsbook, they were -335 favorites to win the gold medal but have since fallen. Here is a look at the odds to win the gold for Men’s basketball.

Country Odds to win Olympic Gold
USA -320
Australia +750
Spain +900
Slovenia +1500
France +1600
Nigeria +3000
Argentina +3500
Italy +4000
Czech Republic +10000
Germany +15000
Japan +30000
Iran +50000

Looking for more? Check out the men’s basketball odds breakdown, here.


How To Bet The Olympics at DraftKings Sportsbook

Have you ever bet on the Olympics? Chances are, you have not given that the last Olympics was three years ago before the boom in legal sports betting in the United States. In most states that offer legal sports betting in 2021, you are able to wager on the Olympic Games in some capacity this year, which opens a whole new set of betting markets. Here is a look at the sports that will be played in the 2021 (2020) Olympic games, which most will have betting odds and markets available for. This list is extensive, and if they fit into proper sports betting rules it will allow for a great summer of Olympic betting.

  • 3×3 Basketball
  • Archery
  • Gymnastics
  • Swimming
  • Badminton
  • Baseball
  • Basketball
  • Volleyball
  • Softball
  • Boxing
  • Cycling
  • Soccer
  • Golf
  • Handball
  • Field Hockey
  • Martial Arts
  • Rugby
  • Skateboarding
  • Table Tennis
  • Tennis
  • Triathlon
  • Water Polo
  • Wrestling
  • and more!

Start betting on Olympics props and futures at DraftKings Sportsbook.


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Prop Betting on the Olympics

With legal sports betting growing rapidly in the United States since the last Olympics, this is the first year where wagering on the Olympic Games has become widespread and undoubtedly popular in the legal sports betting space. Legal sports betting platforms such as DraftKings Sportsbook will not only offer betting markets for each game during the Olympics for various sports, but also props surrounding the games in its entirety.

Nation with Most Gold Medals Odds

One popular betting market is a futures prop that is a market surrounding which country will produce the most gold medals. Here are the opening prices:

Country Odds for Most Gold Medals
USA -1000
China +600
Japan +2000
Great Britain +2500
Russia +2500
Australia +15000
Netherlands +15000
France +20000
Germany +25000
South Korea +35000
Canada +50000
Italy +75000
Poland +75000

Here is a look at the other prop betting markets available for the Olympics at DraftKings Sportsbook.

  • Number of Medals
  • Number of Gold Medals
  • Country Medals Over/Unders
    • USA
    • Denmark
    • Great Britain
    • Finland
    • Colombia
    • and more
  • Individual Sports Props
    • Rugby Sevens
    • Volleyball
    • Soccer
    • Softball

Once the games begin, there will be props surrounding the actual sports and contests as well.


USA Gold Medal Odds – 2021 Olympics

One of the more popular prop betting markets for the Olympics is wagering on the number of medals, and specifically, gold medals for each country. DraftKings Sportsbook has a gold medal betting prop market along with total medals for the United State of America. Here’s a look at these markets, as there are two to choose from for “number of medals” with an alt line for better odds.

Country Total Medals Over Price Under Price
United States 109.5 -134 -106
United States 112.5 +140 -200

In addition, you can wager on the number of gold medals awarded to the US (or other countries) as well. Here is a look at the lines and prices for USA gold medals.

Gold Medal Odds

Country Total Gold Medals Over Price Under Price
United States 42.5 -118 -118
United States 44.5 +150 -215

There is quite a bit of juice on the over and under for total gold medals, which is a bit surprising given the prices on the rest of the Olympic odds markets.


Action Rush Staff