How to Bet on the 2024 Olympics Online - Betting Guide

The 2024 Summer Olympics are underway in Paris, and the action has started to heat up. An impressive lineup of rugby and soccer matches headlined the games’ opening day, with several other sports set to kick off over the coming days.

If you are looking to bet on this year’s Olympics, you have come to the right place. Below, we will discuss everything you need to know about wagering on the two-and-a-half-week event. We’ll cover what sports you can wager on, where to place your bets, what markets are available, and tips to help maximize profits.

Can You Bet on the 2024 Summer Olympics Online?

Yes! Most major US sportsbooks offer an extensive catalog of Olympic betting, though there are some restrictions depending on which state you are in. For example, most states will not allow you to wager on events involving athletes under the age of 18. Also, states like Massachusetts and Mississippi will not allow bettors to wager on judged events.

When selecting bets to make during the 2024 Olympics, we recommend verifying the wager is available from your favorite online sportsbook.

Most US sportsbooks will offer betting options for the Olympics, but they are not all created equal. Some have better options and an easier user experience for wagering on the games, making them better options than the ones you may already be using.

Below, we will share our favorite sportsbooks for Olympic betting. We’ll give you each one's current welcome bonus and standout features, along with the Olympic betting markets and sports they offer.

1. BetMGM Sportsbook

MGM has been a staple in American sports betting for decades, and its online platform has become one of the most popular among bettors. BetMGM has made a name for itself through its world-class platform and competitive odds. It offers plenty of payment options, making it easy to use for players of all levels of experience.

On top of their fantastic features, BetMGM also has one of the best welcome offers in the industry. Their $1,500 First Bet Offer means they will refund your initial wager (up to $1,500) with Bonus Bets if it loses. Simply sign up for a new account with promo code WSNSPORTS to claim the bonus.

BetMGM has a wide variety of betting markets for the Olympics, allowing bettors to make money line, spread, total, future, and prop bets. The markets available depend on the sport, with money line and futures being the most common.

Olympic sports available to bet on at BetMGM: badminton, basketball, beach volleyball, boxing, canoeing, cycling, diving, equestrian, fencing, field hockey, golf, handball, rowing, shooting, soccer, surfing, swimming, table tennis, tennis, track & field, triathlon, volleyball, water polo, and weightlifting.

→ See our BetMGM Sportsbook review for more in-depth information about the sportsbook.

Bet on the Olympics at BetMGM

2. Caesars Sportsbook

When bettors think of Las Vegas, they think of Caesars. Their famous hotel and casino are a staple of the Las Vegas Strip, and they now own one of the most popular online sportsbooks in the US. Their easy-to-use platform and extensive betting catalog make them an excellent option for betting on the 2024 Olympics.

Caesars is currently offering new players a $1,000 First Bet Offer when they sign up using promo code WSN1000. That means if you sign up for Caesars and make an initial wager that loses, you will receive your original stake back in Bonus Bets. Those bets cannot be withdrawn for cash but can be used to wager on other events.

Caesars offers a full slate of betting markets for the Olympics, including spread, moneyline, total, prop, and future bets. The sport determines the markets available, so be sure to check with Caesars to confirm which are available.

The following Olympic sports are available to bet on from Caesars Sportsbooks: archery, artistic swimming, athletics, BMX cycling, breaking, canoe slalom, canoe sprint, cycling, diving, equestrian, fencing, field hockey, gymnastics, judo, marathon swimming, modern pentathlon, mountain biking, rowing, rugby, sailing, shooting, skateboarding, sport climbing, swimming, surfing, taekwondo, track cycling, trampoline, triathlon, water polo, and weightlifting. 

→ See our Caesars Sportsbook review for more in-depth information about the sportsbook.

Bet on the Olympics at Caesars

What Sports Can You Bet on at the Olympics?

The answer to this question depends on the state in which you are wagering and the sportsbooks you use. Your favorite sportsbook will list the sports available to bet on, but here is a list of a few of the ones commonly available:

• Archery

• Athletics

• Badminton

• Basketball

• Beach volleyball

• Boxing

• Canoeing

• Cycling

• Diving

• Equestrian

• Fencing

• Field Hockey

• Golf

• Gymnastics

• Handball

• Judo

• Modern Pentathlon

• Rowing

• Rugby 

• Sailing

• Shooting

• Soccer

• Surfing

• Swimming

• Table tennis

• Taekwondo

• Tennis

• Triathlon

• Volleyball

• Water Polo

• Weightlifting

• Wrestling

Certain sportsbooks may offer betting on more niche sports, such as Olympic breaking, but the above sports are the ones you will find at almost any US online sportsbook.

How to Bet on the Olympic Games - Types of Bets

The wide variety of sports played during the Olympics means a wide range of betting markets are available. While each sport differs, below are the bet types you will most commonly see when wagering on the Olympics.

Futures

Future bets are one of the most straightforward options available during the Olympics. This bet type involves picking how countries will finish in a particular event. This bet type is available for all sports, making it one of the most popular options. 

An example of a futures bet is if you were to wager on which country will win the most Gold Medals. Caesars Sportsbooks offers odds for each country, with the US being favored at -700. Simply pick which country you believe will finish with the most Gold Medals and place your bet. Once the Olympics conclude, your bet will be settled.

Moneyline

Moneyline betting is another straightforward option for Olympic betting. Instead of picking who will win the medals, you are betting on which country or athlete will win each match or round of an event. It doesn’t matter how many points or how close a matchup is, only who wins.

For example, let's say you wanted to bet on Spain to beat Australia in their upcoming matchup. BetMGM has Spain at +165 to win the game, meaning you would win $165 if you place a moneyline wager of 165. 

Over/Under

Over/under betting, also known as total betting, involves betting on whether the number of points scored will exceed the amount set by a sportsbook. It doesn’t matter who wins or by how much, only the total points scored by all participants. This bet type isn’t as common with individual sports but is commonly found for team-based competitions.

Let’s say you want to place an Over/Under bet on a field hockey matchup between Belgium and Ireland. BetMGM has the total set at 4.5 goals, with odds for both the over and the under sitting at -120. If you select the under and the match finishes with less than five total games, you’re bet will win.

Parlays

Parlays are a unique bet type that combines two or more other wagers. The wagers can come from one event or multiple. The odds for each bet in a parlay will be combined for larger payouts, but each wager must win to succeed.

For example, let’s say you want to place a parlay bet at Caesars Sportsbook. You build a parlay of three bets that include Joris Daudet winning gold in the men’s BMX racing (+200), Yang Yung-wei winning gold in Judo (+900), and the Netherlands winning gold in men’s field hockey (+300). If all three wagers win, your parlay will pay out with odds at +11900.

Live Betting

This bet type covers a few of the above markets. Instead of placing bets before a match or event begins, this option allows you to wager after they have started. Live betting can include moneyline, total, or even spread bets and pay out the same as pre-match bets.

When live betting on the Olympics, keep an eye on the odds. Sportsbooks will update their odds a the event is happening, meaning there could be significant changes from one minute to another.

How to Sign Up at a Sportsbook and Bet on the Olympics

Looking for a new sportsbook to wager on the 2024 Summer Olympics? Fear not, as the process is easy regardless of which platform you choose. Here is a general step-by-step guide on how to sign up for a new online sportsbook to wager on the Olympics:

1. Download the app or visit the site for the sportsbook you want to use

2. Click on the “Join Now” button

3. Select the state you are wagering from

4. Create a username and password

5. Enter your information to verify your identity

6. Enter your banking information and make a deposit

Once you have followed the above steps, you will be ready to start betting on the Olympics. Before you finish setting up your account, be sure you have claimed the sportsbook’s welcome bonus.

Olympics Betting Tips

Betting on the Olympics is a unique experience, so be prepared before you begin. Here are a few tips from our WSN betting experts to help you get started:

• Set a budget: The Olympics offer bettors many sports to wager on in a short amount of time. Getting caught up in the excitement and betting more than usual can be easy. Setting a budget beforehand can help ensure you don’t overextend yourself.

• Do your research: Unlike betting on common US sports, the Olympics features a wide range of events and athletes. We recommend searching online for insights and news about athletes and teams, ensuring you have complete information before placing a wager.

• Stick to sports that you know: Betting on canoeing can be a fun and unique experience, but very few people know the sport and its rules. The Olympics feature many niche sports that are not popular in the US, making it difficult to wager on them. If you don’t have at least a casual knowledge of the sport, don’t bet on it.

• Watch the games: This may sound obvious, but the time difference between Paris and the US makes it hard to watch these events live. There are several apps that offer replays and other information, but we recommend finding a way to watch any sport you want to bet on.