2021 Olympic Betting Guide For New Bettors

Time to Bet on the Summer Olympics

(STL.News) After a one-year postponement due to COVID-19, the Summer Olympics will occur later this month in Tokyo.  The Olympics provide some great betting opportunities, which can be a chance to win some big money.

Betting in the Olympics is different from betting on other sports, but there are many similarities.  Most traditional betting types will be offered, and you will also find some unique betting opportunities.

This 2021 Olympic betting guide will help you understand how to bet on the Olympics and direct you to bet on the event.

Betting On The 2021 Tokyo Olympics

If you already bet on sports, you won’t find much trouble betting on the 2021 Tokyo Olympics.  Sports betting sites are not going to change much when offering betting odds and lines on this event.

You will see more betting options in the Olympics; it has a variety of sporting events available.  Knowing the basics of sports betting will be advantageous when betting on the 2021 Tokyo Olympics, but this will also be an excellent opportunity for beginners.

Each sports betting site will determine the markets and betting types it wishes to offer, but plenty is available.  It’s essential to only focus on the sports and betting types you are familiar with, but there is an advantage to taking a risk.

Types Of Bets For The Olympics

You might think that betting on the 2021 Olympics will offer a brand new set of betting options, but that just isn’t the case.  There will be plenty of betting options available, but they will be ones that you are used to seeing.

Here are some of the types of bets you will see offered at the 2021 Olympics.

Money Line

Money line bets at the 2021 Summer Olympics will work the same way they do for most sporting events.  You can simply make a wager on all events that are head-to-head of some sort.

It can be for a single event, or it could also be for each country’s total number of medals.


Just like with a money line bet, a spread wager will work precisely as it does for other betting markets.  You won’t see a spread wager listed for many individual events, but it will be there for team sports such as basketball and baseball.

With a spread wager, you will not only be picking the winning/losing team, but you will also be making a bet on how close the final score will be.


Totals betting is extremely popular in the traditional sports betting industry.  You can find the same bets offered for the Olympics, where you will see quite a change as most total bets will be featuring the medal counts for each country.

Placing a bet on how each country will win many total medals is one of the most popular bets you will find when betting on the 2021 Olympics.


A future bet consists of which athlete or team will come away with the Gold Medal in each event.  It’s a common betting type that you can find on traditional sporting markets as well.


Prop betting has become extremely popular in the sports betting industry, and this betting type will be offered at the Summer Olympics.  Each sports betting site will set its prop betting options, but you will find plenty of this type of betting offered.

Reading The Odds For Olympics

When you look to read odds for the Olympics, a few tips can help you out.  Each betting type will come with different odds, but the overall premise will remain the same.

Suppose you see a (-) before a betting line, which means that the team or individual is listed as the favorite.  When you see a (+), it means that the team or individual is an underdog.

For individual events, you are going to see a long list of odds.  Most online betting sites will always list the favorites at the top, and then it will go down the list from there.

These odds will work in the same way as they do for traditional sports, but you will just see many more individuals or teams listed.

Tips For Olympics Betting

You can find some different tips for Olympics betting if you search hard enough, but only a few stand out.  If you want to be successful when betting on the 2021 Olympics, then you need to focus on these things:

  • Set a betting “unit.”
  • Only bet on sports that you know
  • Keep your bets simple
  • Vary your betting types
  • Know when to stop

Most Popular Betting Sites For The 2021 Olympics

Now that you have a better understanding of how to bet on the 2021 Olympics, it is time to find some of the top sites to use.  This is our specialty, and we have reviewed all of the top sites to find the best and most popular betting sites for the 2021 Olympics.


Bovada has a first deposit bonus of 50% up to $250, which is one of the smaller promotions you will see online.  This site makes up for it, though in several ways, and it continues to be one of the top online betting sites.

Bovada has quick and easy payouts, and it features some of the top betting options in the industry.


BetOnline will offer a 50% first deposit bonus up to $1,000, which is a fantastic offer to get you going.  You can also make a payment using cryptocurrency at this site, and that is a huge feature that sets this operator apart.

BetOnline is popular with bettors in the US, and it will have a long list of available betting options on the 2021 Olympics.


MyBookie has one of the best welcome bonuses in the industry.  It will 100% match a customer’s first deposit up to $1,000, which means that you can start betting on the Olympics with $2,000 in your account if you make the most extensive deposit offered under the promo.

MyBookie has an excellent customer service team, and it also offers quick and easy banking options.


The 2021 Summer Olympics will offer up some great betting opportunities for sports bettors from around the globe.  Betting on the Summer Olympics will be slightly different, but most traditional betting options will be offered.

There are plenty of online sports betting sites ready to accept betting on this event, and we have highlighted some of the top options.  You won’t want to miss out on betting on the 2021 Tokyo Olympics, as this can be a profitable venture.

Authors Bio

Ryan has been writing sports betting content for over 15 years now and has published well over 1,500 articles in this niche.  He follows every move in the United States sports betting & industry news space.  On top of industry news, Ryan enjoys writing sports betting strategies, game previews, opinion pieces, hosting podcasts, and more!  He now writes for Safest Betting Sites.