The Summer Olympics are underway. 

The Games of the XXXIII Olympiad in Paris are delivering memorable moments daily through Sunday. Team USA leads in the overall medal count (88) and leads China by 1 in the gold medal count (24-23) as of mid-day Wednesday EDT.

These are just the second Summer Olympics since the pathway was cleared for legalized betting nationwide in the United States by the Supreme Court in 2018. But the Tokyo games occurred in 2021, a year later than planned because of the COVID-19 pandemic. 

U.S. sportsbooks and top sports betting apps are forecasting a boost from three years ago, with the men's and women's basketball teams driving handle in the U.S.

2024 Paris Summer Olympics: Daily Update

Olympics Odds Of Note 

(All Times Listed EDT) 

August 7: After another thrilling day of athletics Wednesday, Team USA turns toward running to gold in the men's 4X400m relay at -470. That final will be held Friday at 5:05 a.m. (EDT). The Team USA women's 4x100m relay team is the -390 favorite to win the gold against Jamaica (-750) at 5:05 a.m. (EDT) Thursday. Chase Jackson of Team USA seeks gold in the women's shot put at -115 and -430 overall to win a medal at 4:25 a.m. (EDT) Thursday. In the afternoon (3:25 p.m. EDT) in the United States Thursday, Sydney McLaughlin stands at -470 to win the women's 400m hurdles. 

The USA men's basketball team faces Serbia in the semifinals Thursday at 3 p.m. (EDT). These teams have already played twice since July 17. Team USA won an exhibition game over Serbia that day, 105-79. The USA then beat Serbia 110-84 in pool play. Team USA is 16-point favorite over the Serbs, whose team features Nikola Jokić. 

Team USA coach Steve Kerr continues to rotate his lineup, trying to keep everyone fresh. 

The women's golf tournament began Wednesday. France's Celine Boutier enters Round 2 early Thursday as the new gold medal favorite at +190. She leads the field by 3 shots at 7-under. Americans Nelly Korda (even) and Lilia Vu (-2) are tied as the No. 2 pick at +600.

2024 Paris Summer Olympics At A Glance 

Opening Ceremony: July 26

Closing Ceremony: August 11

Athletes: 10,500 (approx.) 

TV/Streaming: NBC, Peacock

Sports: 

• Archery
• Artistic Gymnastics
• Artistic Swimming
• Athletics
• Badminton
• Basketball
• Basketball 3x3
• Beach Volleyball
• Boxing
• Breaking
• Canoe Slalom
• Canoe Sprint
• Cycling Bmx Freestyle
• Cycling Bmx Racing
• Cycling Mountain Bike
• Cycling Road
• Cycling Track
• Diving
• Equestrian
• Fencing
• Football
• Golf
• Handball
• Hockey
• Judo
• Marathon Swimming
• Modern Pentathlon
• Rhythmic Gymnastics
• Rowing
• Rugby Sevens
• Sailing
• Shooting
• Skateboarding
• Sport Climbing
• Surfing
• Swimming
• Table Tennis
• Taekwondo
• Tennis
• Trampoline
• Triathlon
• Volleyball
• Water Polo
• Weightlifting
• Wrestling

Events: 392

Participating Nations/Teams: 183

Sites: Metropolitan Paris. Marseille (sailing, soccer). Bordeaux, Décines-Charpieu (Lyon), Nantes, Nice and Saint-Étienne (soccer). French Polynesia (Tahiti) (surfing). 

Betting At The Olympics: Expect The Unexpected 

Since the 2021 Tokyo Games, more than a dozen states have legalized sports betting. Among them are New York, Ohio, Massachusetts, North Carolina, and to a limited extent, Florida. 

Betting on most Olympic events is legal. Each state offers different events in its gaming catalogue. Many of the most popular Olympic events, such as basketball and swimming, are covered by rules that allow betting on those sports outside the Olympics. 

But not every Olympic event is available everywhere. For example, Massachusetts does not allow wagering on any event whose outcome is based on subjective judging. That includes Olympics gymnastics, BMX, wrestling, break dancing, judo, diving, surfing, and equestrian. The Massachusetts Gaming Commission briefly discussed this issue in 2023 but never took action to change that exclusion. 

Olympic moneyline betting is no different than any other sport. These odds, like those elsewhere, are subject to change depending on actions inside and outside the betting markets.

And remember to bet early. Paris is six hours ahead of the Eastern Time Zone. And most events will be live streamed on Peacock in the United States. They’ll be over and done by 5 p.m. Eastern. 

Calendar Favors Boost In Olympic Betting

The Paris Games come at a traditional lull in the sports calendar. The Games fall between the end of the NBA and NHL playoffs and the start of college football and the NFL. 

Gambling is traditionally a lagging indicator in terms of interest in engagement. The betting activity increases only after people have become attuned to what they’re watching. That was reinforced during the NCAA Women’s basketball tournament and the surge of TV eyeballs and betting interest in games involving Caitlin Clark. 

The Olympics face limited competition for the live betting dollar, mainly MLB baseball and preseason NFL games.

Sports betting operators will be pushing to drive interest in Olympic betting. But given the lack of significant action taken during the Tokyo Games three years ago, they are not expecting anything approaching the money that crossed the window for major pro or college events. 

The biggest betting attraction is on the much-hyped and somewhat-loaded USA men’s basketball team. Since basketball debuted as an Olympic sport during the 1936 Berlin Games, the Team USA men have won gold in 16 of the 19 Olympiads in which it participated. 

The Team USA women’s squad goes for its 7^th straight gold medal, and its 10^th overall since 1984. The exclusion of Clark from the Olympic team caused considerable backlash by many inside and outside the basketball community. 

What Will Drive Betting Action In The U.S.?

Timing will be crucial. With Paris 6 hours ahead of New York, many of the most watched Olympic events will take place during the workday in the U.S. That means work computers and smart phones will be lit with live feeds and updates. The gambling should follow. 

DraftKings Director of Race and Sports Johnny Avello has been booking action on the Olympics for decades, going back to his days running setting odds at Ballys and the Wynn in Las Vegas. 

"We’re gonna see quite a bit of money on men’s basketball – and a real push on the women’s basketball," Avello told bookies.com. Avello said bettors should expect a similar menu of betting markets on the USA Olympic basketball games similar to what one would see for an NBA game. 

"Women's gymnastics has always been popular with bettors," Avellops said. "Simone Biles will help the gymnastics handle. We've got a lot a swimming stars back this year. We'll see a record in handle, if not something close to a handle.

The 2024 Games have the full weight of NBC and its related broadcast, streaming, and digital properties, analysts expect a spike in viewership. That lends itself to higher engagement both in and betting activity. 

NBC will either air or stream every event live and offers the Gold Zone to keep viewers up to day on everything all at once.. Its prime-time telecast will feature highlights and personality profiles from the current day's action, and look-aheads at the next day's action. 

The Olympics and Gambling, for decades, have looked at each other from afar. This year we'll see them meld together. There will naturally be interest in national teams, but there will be more interest in individual athletes – including the very popular members of the USA gymnastics and swimming teams - competing for coveted Gold medals. 

Paris was the star of the Opening Ceremonies. Beach volleyball in the foreground of the Eiffel Tower and Equestrian in the Gardens at Versailles are enticing eye candy to viewers.

And don't forget the surfing in Tahiti. That French possession is in the same time zone as Hawai'i, which leaves it 6 hours behind New York and 12 behind Paris.