How To Bet On Olympics Online

Being able to bet on Olympics online is one of the biggest and potentially most lucrative gambling opportunities of any global sporting event.

Why do it?

When the Olympics begin every two years, they take complete priority over every other sport in the world, in both coverage and gambling. Gamblers can place wagers on hundreds of different events and make profits by selectively applying their specific interests in the gaming world. Between the enormous coverage that makes analyzing statistics extremely easy, and the ability to bet on Olympics online, nearly anyone with an interest in any of the games stands to make a study sum from the event.

How to Bet Online

The first thing that needs to be done before making wagers through the Internet is to find a reputable, trustworthy sportsbook that will offer as much variety in betting lines and, if possible, special promotions. After deciding on one, all that's left to do is to make an account and fund it, generally through credit cards or e-wallet options. After making an account, gamblers are able to find an event or person to begin wagering on.

Understanding Odds

Sportsbooks will have set up the prices for a wager based on events as they happen using one of two systems. The first system, decimal, will display payout amounts in decimals. For example, saying that Team USA has odds of 1.9 means that every $1 gambled for Team USA will result in a payout of $1.90. The second system is the American system, which is similar, however instead of using decimal places, it assumes a wager of $100. For example, if Team USA has odds of -130 and Team Canada has odds of +105, then the bettor must risk $130 to win $100 on Team USA (which is what the minus means), or will win $105 if they risk $100 on Team Canada (which is what the plus means).

Compare the Odds

All prices and odds when users bet on Olympics online are set by sportsbooks and based on analytical, statistically founded opinion, generally, but still opinion nevertheless. So it can sometimes be worth it to join several sportsbook websites and compare their prices and predictions to both help a user come to a conclusion themselves, and for them to be able to find the best price for their planned gamble.

Other Tips

There are two things that can be done to ensure optimal chances of making a profit. The first is to wager against the public opinion by seeking out athletes that have potential, but aren't getting much media attention. Being able to find these people before sportsbooks do means getting lower prices and higher profits. The second is to always do research as thoroughly as possible. The sheer amount of research and calculating the sportsbooks need to do to cover the entire Olympics means they are unlikely to cover every avenue or every angle, and a good bettor is one who is able to find the avenues and angles that were overlooked and make enormous profits off of them.