The Summer Olympics made a triumphant return to their regular quadrennial schedule when the Games of the XXXIII Olympiad open in Paris on July 26. 

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. 

That dampened interest, TV viewership, and betting handles at sportsbooks and on top sports betting apps.
 

2024 Paris Summer Olympics At A Glance 

Opening Ceremony: July 26

Closing Ceremony: August 11

Athletes: 10,500 (approx.) 

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 (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. The Massachusetts Gaming Commission briefly discussed this issue in 2023 but never took action to change that exclusion. 

Current Olympic Odds: Team USA Heavy Favorite

Team USA is -2500 favorite to win the most medals in Paris in odds posted at DraftKings. China is second at +1000. The race is bit tighter when it comes to which nation will cop the most gold medals. Team USA is -750, while China is +350. 

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. 

The Olympic betting markets will expand as the Games move closer on the calendar and the schedule and matchups for certain events are set. 

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 will be 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 will be playing 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.?

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. 

Because the 2024 Games occur in Paris and 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. 

Paris itself should become a star of the Games. Beach volleyball in the foreground of the Eiffel Tower and Equestrian in the Gardens at Versailles  will be enticing eye candy to viewers.

But Olympic soccer does not enjoy the status that the sport enjoys in other international tournaments. The World Cup, European Championship and Copa America have a place in FIFA's International Match Calendar. The Olympics do not. Because of that, France’s best soccer player, Mbappé, cannot play for his home country since he's committed to Real Madrid.