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Team Canada Gold Medal Best Bets to Parlay for Tokyo Games

Bob Duff for Bookies.com

Bob Duff  | 5 mins

Team Canada Gold Medal Best Bets to Parlay for Tokyo Games

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With Team Canada coming off its best overall Summer Olympic Games performance in more than three decades, top sportsbooks are offering the chance that the Canadians will go one better in terms of gold-medal performances in Tokyo than they achieved in Rio de Janeiro in 2016.

Canada won four gold medals in Rio. That was the best showing by the country since Canadian athletes captured seven gold medals at Barcelona in 1992. When it comes to Canada sports betting, there is some value to be had wagering on certain Canadian Olympians.

Single-game sports betting will soon be legal in Canada, but not in time for the Olympics. However, parlay betting is currently legal, and sports betting sites are offering various markets to bettors ahead of the competition.

Online site ComeOn Sports has established the Over/Under total on Canadian Olympic gold medals earned in Tokyo at 4.5. The under is set at -132. Play the over on this wager at odds of +100. Barcelona marked the previous Olympics in which Canada topped four gold medals at a single Summer Olympics.

Team Canada Tokyo Olympics Bets

Event Athlete/TeamResultOdds
Men's 100m Andre DeGrasseGold Medal+1400
Women's GolfBrooke HendersonGold Medal+1400
Women's BasketballCanadaWin Medal+280
Women's BasketballCanadaWin Group+250
OverallCanadaOver 4.5 Gold Medals+100

Odds via Mr Green and ComeOn Sports. Check out our Mr Green sportsbook review and our ComeOn Sports sportsbook review; many of these markets are also available to US bettors at FanDuel sportsbook .

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Data company Gracenote, known for its predictive analysis when it comes to projecting Olympic medal winners, sees Canada winning four gold medals in Tokyo.

The Canadian gold-medal favorites include swimmer Kylie Masse in the 100-meter backstroke, canoeist Laurence Vincent-Lapointe in both the singles event and the doubles with Katie Vincent, and the beach volleyball pair of Sarah Pavan and Melissa Humana-Paredes. The Tokyo Summer Olympics are slated for July 23-Aug. 8.

Canada's Gold Medal Hopes

Canada’s 22-medal performance in Rio tied for the country’s best performance in a non-boycott Olympiad. It’s unlikely the Canadians will be able to do much better than that in Tokyo. Gracenote is projecting Canada’s Tokyo medal total at 18, down from Rio and level with the Canadians' haul at London in 2012.

Betting apps peg the odds of Canada winning the most medals in Tokyo around +50000. Those same +50000 odds are also applied to Canadian chances of taking home the most gold medals from the Tokyo Summer Games.

RELATED: Check Out Our Tokyo Olympics Ultimate Betting Guide

Henderson On Course To Be A Value Pick

Women’s golf might be a sport where a wager could pay dividends. Five years ago in Rio, Canada’s Brooke Henderson finished just two shots away from winning a bronze medal in women’s golf. Still just 23 years old, Henderson is already the winningest Canadian to play on either the LPGA or PGA Tours. The 2016 Women’s PGA Champion, one of the LPGA’s majors, Henderson has won another seven LPGA events since her first Olympic appearance in Rio.

From Smiths Falls, Ont., she’s always a popular play at tournament time with the Ontario sports betting crowd. Henderson is +1400 at 888sport to win the Olympic women’s golf gold medal. That’s an awful lot of value to get on a player who’s listed at No. 7 in the Rolex Women’s World Golf Rankings.

Will Team Canada Women Hoop It Up?

Canada wouldn’t be a wise wager to win the Olympic women’s basketball gold medal. That being said, there are a couple of prop wagers worth considering when it comes to this squad.

Canada is fourth in the FIBA women’s world rankings. ComeOn Sports offers odds of +280 on Canada winning a medal of any color at the Tokyo Summer Games.

British Columbia sports betting players might also want to place a wager on Canada winning Group A during opening-round action. Canada is grouped with world No. 3 Spain. The Spaniards are the +105 chalk pick to top the group. Bettors can get +250 odds on Canada finishing in first place.

DeGrasse Being Downgraded

Canadian sprinter Andre DeGrasse won a silver (men's 200 meters) and two bronze (100 meters and 100-meter relay) in Rio. He has battled injuries and is struggling to find podium finishes this season. DeGrasse was a fourth-place finisher in each of his last two 100-meter events leading up to Tokyo.

But over his career, DeGrasse has earned a reputation for delivering his best performances on the biggest stages. FanDuel sportsbook has the odds of DeGrasse winning the gold medal in the Olympic 100 meters at +1400, and he's the No. 2 odds favorite for the 200m at +450 at the same site to win gold.

About the Author

A veteran journalist based in Windsor, Ontario, Bob Duff has covered the gambling and sports betting industry since 2016. He has written more than two dozen books.