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By Bill Speros | | 16 mins

Tokyo Olympics Betting Odds & 2021 Summer Olympics Guide

Tokyo Olympics Betting Odds & 2021 Summer Olympics Guide

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The opening ceremonies for 2020 Tokyo Summer Olympics will take place on July 23, 2021. Delayed by a year because of the COVID-19 pandemic, the Tokyo Games continued to face headwinds in terms of allowing spectators and opposition inside Japan. More than 11,000 athletes representing over 200 countries are poised to compete across 33 sports in 339 events. There will be betting in multiple markets at several top sportbooks in the states where Olympic betting is legal.

Team USA is loaded and is -1000 at DraftKings to record the largest gold medal haul, with China second at +600. Look for Americans to break records in track and field, swimming, gymnastics, and basketball.

Tokyo Olympics Betting Odds & 2021 Summer Olympics Guide 1

Anything less than multiple golds for the likes of Katie Ledecky, Simone Biles and Caeleb Dressel will be considered disappointments. In addition, the Team USA men’s and women’s basketball teams are expected to come home with the gold. The overall total for medals won by Team USA is 110.5 (over -134 and under -106) at DraftKings sportsbook. The total for Team USA gold medals is 42.5 (over -125 and under -112) at the same site.


TEAM USA OLYMPICS PREVIEW: Best US Gold Medal Value Bets & Complete Betting Guide


Odds On Nation With Most Gold Medals

Here are the latest odds the nation with the gold medals won at the 2020 Tokyo Summer Olympics, as posted at William Hill sportsbook.

Country Odds
USA-700
China+450
Japan+2500
Great Britain +4000
Russian OC+5000

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The 2021 Summer Olympics features the return of baseball and softball and the debut of skateboarding, surfing, karate and rock climbing. Athletes from around the world have been dealing with delays and postponements caused by the COVID-19 pandemic across dozens of sports.

Team USA is expected to dominate in the gold medal count. Projected strong performances in the swimming pool, across several track and field events and in gymnastics should deliver a pile of gold, silver and bronze for the Americans.

Tokyo Olympics Betting Odds & 2021 Summer Olympics Guide 5

While Russia has been banned from the Games due to wide-scale doping violations, Russian athletes can participate in events in which they qualify as neutrals under the Olympic banner.

China and Japan should battle it out for second place in the overall medal count, with Japan getting an emotional and perhaps even competitive boost from being the host country. Capacity at events is limited to either 50% or 10,000, whichever is smaller. Only fans from the local area will be ticketed. Fans must be masked and shouting is prohibited.


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Where Can You Bet On The Olympics?

The 2020 Tokyo Games will be the first Olympics to take place since sports betting was allowed nationwide in the United States by the Supreme Court’s PASPA decision in 2018. Odds are available at the best betting sites across several markets, including individual events, team events and overall national medal and gold medal counts.

More action is expected to be added once play begins, especially in men’s basketball. Betting on the Olympics is now legal in the following states: Nevada, Colorado, Indiana, Michigan, New Jersey, Pennsylvania, Tennessee, Illinois and Virginia.


Men’s 2021 Olympic Odds

Olympic Basketball

Team USA heads to Japan with monstrous expectations and a squad loaded with veteran NBA talent. Kevin Durant leads the Americans, making his third Olympic appearance, as Team USA goes for its fourth consecutive Olympic gold medal. Durant is joined by the likes of Draymond Green, Bradley Beal, Devin Booker, Damian Lillard and Jayson Tatum. Kevin Love joins Durant and Green as members of the 2016 gold-medal winning squad.

But preparations for Tokyo have gotten off to an inauspicious start, with Team USA suffering upset defeats to Nigeria and Australia in the first two of its five scheduled pre-Olympic exhibition games. The Americans remain favorites at -370 with FanDuel to take gold in Japan, but at one point in early July they were as short as -750.

With an experienced hand of Gregg Popovich as head coach and Steve Kerr, Lloyd Pierce and Jay Wright as assistants, this team (the third oldest in U.S. Olympic history) should get back on track and be ready for any challenge once the competition begins.

There are 12 teams in the Olympic tournament. The gold-medal winning squad will play six games total. Here are the odds of the top teams to win the 2020 Tokyo Summer Olympics men’s basketball tournament, as posted at FanDuel sportsbook.

Country Odds
USA-370
Australia+850
Spain+1200
Slovenia+2400
France+2600
Nigeria+2900
Argentina+3400

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Olympic Soccer

The Olympic men’s soccer tournament begins before the actual opening ceremonies. Defending Olympic champion Brazil is back to defend its gold medal and is the favorite to win the gold. The players in Olympic men’s soccer tournament must be 24 or under, with three overage exceptions allowed per teams. The video assistant replay system will be in use at each of the seven game sites.

Sixteen teams will participate in the men’s tournament. The USA did not qualify. The participating nations are divided into four groups of four teams. The Olympic soccer tournament is up for grabs, with several top players – such as France’s Kylian Mbappe - competing at the Euro 2020 tournament in lieu of the Games. Also, French club Paris Saint-Germain did not release Brazilian star Neymar for the games.

Here are the odds to win the men’s soccer gold medal at the 2020 Tokyo Summer Olympics at 888sport sportsbook.

Country Odds
Brazil+275
Spain+350
France+400
Argentina+450
Germany+450
Japan+1100

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Olympic Volleyball

The Olympic men’s volleyball tournament will feature 12 teams divided into two pools of six teams. The Americans are seeded second behind Brazil but will face the favorites Brazilians in Pool B play. All the matches will be played at the same venue in Tokyo from July 24-Aug. 7.

The teams will engage in round-robin play in the pool round, with the top four teams in each pool advancing to single-elimination play. The Americans are returning eight players of their 12-man squad from the 2016 Olympic team that earned a bronze medal in Rio. Matt Anderson, 34, has been Team USA’s top scorer for a decade and was second in scoring overall in Rio. He is back for his third Olympiad.

Here are the odds to win the men’s volleyball gold medal at the 2020 Tokyo Summer Olympics at DraftKings.

Country Odds
Poland+240
Brazil+325
Russian OC+325
France+550
USA+550

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Olympic Water Polo

A dozen teams will participate in the Tokyo Games men’s water polo tournament, with the favorites all from Central Europe. The 12 teams will begin with a round-robin group play and then proceed to a knockout stage. Teams earn two points for a win, one point for a draw and nothing in a loss. The top four teams in each group advance to the single-elimination knockout round.

The Americans are joined by the most-recent world champs in Italy and Hungary in Group A. This year will mark the 23rd time that the USA has sent a men’s water polo team to the Olympics. Three former nations that once formed part of Yugoslavia – Serbia, Croatia and Montenegro – are grouped in Group B.

Here are the odds to win the men’s water polo gold medal at the 2020 Tokyo Summer Olympics at William Hill.

Country Odds
Hungary+300
Serbia+350
Italy+400
Spain+450
Croatia+450

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Women’s 2021 Olympic Odds

Olympic Basketball

Team USA will be looking for a “seven-peat” when play begins in the Olympic women’s basketball tournament begins on July 26. The Americans will be led by veterans Sue Bird and Diana Taurasi, who has won three WNBA titles and is the league’s all-time leading scorer. Bird and Taurasi are seeking their fifth Olympic gold medal, which would be a record for any basketball player, male or female.

Tokyo Olympics Betting Odds & 2021 Summer Olympics Guide 3

Coach Dawn Staley won three gold medals as a player. Her team is loaded. It includes former WNBA MVPs A'ja Wilson, Sylvia Fowles and Breanna Stewart. Fowles will be playing in her fourth Olympic Games. There are 11 other teams in the tournament in three groups. The USA is in Group B along with Nigeria, Japan and France. The gold medal game is scheduled for Aug. 8.

Here are the odds to win the women’s basketball gold medal at the 2020 Tokyo Summer Olympics at DraftKings.

Country Odds
USA-1250
Australia+1000
France+2000
Spain+2500
Serbia+3000

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Olympic Soccer

Like their basketball counterparts, the Team USA women’s soccer team is headed to Japan with visions of gold. The Americans were stunned by Sweden in the 2016 Games. This time, they’re aiming to become the first women’s team to capture Olympic gold following a World Cup victory. The big names are back from the World Cup winners and for first-time Olympic coach Vlatko Andonovski – including Megan Rapinoe, Alex Morgan, Carli Lloyd and Christen Press. The average age of the Team USA roster is 30.8 years – its oldest ever.

Tokyo Olympics Betting Odds & 2021 Summer Olympics Guide 4

The Americans are undefeated in 42 straight matches ahead of the Olympic women’s soccer tournament, which begins two days before the Opening Ceremonies on July 21. The 12 teams participating are split into three groups which will play at seven different sites in Japan. The Americans are in Group G with Sweden, Australia and New Zealand. The gold-medal match is scheduled for Aug. 5.

Here are the odds to win the women’s soccer gold medal at the 2020 Tokyo Summer Olympics at 888sport.

Country Odds
USA-1250
Australia+1000
France+2000
Spain+2500
Serbia+3000

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Olympic Volleyball

Team USA has yet to win a gold medal in its previous 11 Olympic tries despite being considered among the favorites on several occasions. The 12-player squad has gotten a significant overhaul since taking the bronze in 2016. Eight players will be making their Olympic debut for the Americans, who are ranked No. 1 in the world. Kim Hill, Jordan Larson, Kelsey Robinson and Foluke Akinradewo Gunderson all played on the 2016 team. Larson and Akinradewo Gunderson also won a silver medal playing for Team USA in 2012.

Brazil, which has won two of the past three Olympic golds, is No. 2 in the world, followed by China and Turkey. The 12 teams are split into two pools. The Americans are in Pool B with China, South Korea, Italy, Argentina and Turkey. All the matches will be played at the same site in Tokyo from July 25-Aug. 8.

Here are the odds to win the women’s volleyball gold medal at the 2020 Tokyo Summer Olympics at DraftKings.

Country Odds
China+255
Italy+255
Serbia+300
USA+300
Brazil+1000

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Olympic Water Polo

Team USA plays for its third straight Olympic gold medal in Tokyo. it has medaled in all five Olympiads in which the sport was played. The 13-player roster is led by attackers Maggie Steffens and Maddie Musselman, and goalkeeper Ashleigh Johnson. Going back to December 2015, the Americans are enjoying a spectacular 169-5 run in tournament play and have yet to lose an Olympics, World Championship, World Cup or World League Super Final since.

The 10 teams in the Olympic tournament are split into two groups. Play begins on July 24 with the gold medal match set for Aug. 7. The Americans are in Group B with South Korea, China, Hungary and Japan. Teams will play the other nations in their group in round-robin play, before the top four In each group advance to the single-elimination knockout round.

Here are the odds to win the women’s water polo gold medal at the 2020 Tokyo Summer Olympics at William Hill.

Country Odds
USA-335
Spain+700
Australia+800
Netherlands+1100
Russian OC+1100

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Live Betting the Olympics

Since this is the first Olympic Games since sports betting has been legalized nationwide in the United States, there’s no past record of performance that sports betting apps can use to determine what events will be best suited for live betting.

Men’s basketball should see live action available given the number of NBA players participating for several nations. The same should hold for golf, which features Justin Thomas, Collin Morikawa, Xander Schauffele and Bryson DeChambeau playing for Team USA at Kasumigaseki Country Club from July 29 to Aug. 1. Each golfer will play 72 holes of stroke play, spread over four days.


Olympic Betting FAQs

Is it legal to bet on the Olympics online?

Yes, it is legal to bet on the 2020 Tokyo Olympics online and in person, but only in certain states.

Where can I bet on the Olympics?

Betting on the Olympics is now legal in the following states: Nevada, Colorado, Indiana, Michigan, New Jersey, Pennsylvania, Tennessee, Illinois, and Virginia.

Is Olympic betting popular?

Betting on some Olympics events have been popular in certain overseas markets. Bu since it has not been legal in the US outside of Nevada in the past, it is not known how popular Olympic betting will be in 2021.

Where are the summer Olympics?

The Opening Ceremonies for the 2020 Tokyo Olympics will be held on July 23, 2021. The Closing Ceremonies are scheduled for August 8, 2021. Both events will be held at the Olympic Stadium in Tokyo.