Sports books say they expect strong betting interest in this year’s summer Olympics, driven by dominant U.S. basketball and soccer teams
A gambler places sports bets at the Tropicana casino in Atlantic City, N.J., March 8, 2019. Sports books say they expect strong betting interest in the 2024 summer Olympics, fueled by star-studded men's and women's U.S. teams in basketball. Sports books say they expect strong betting interest in this year’s Olympics, driven by dominant U.S. basketball and soccer teams.
Joe Maloney, a spokesman for the American Gaming Association, noted that three years ago, 97 million Americans, or about 40% of the adult population, could legally bet on the Olympics in their home state. That total is now 164 million, or 67% of the adult population. And lastly, the U.S. is expected to dominate the Games, in terms of overall medals won, and the most gold medals. The U.S. men's and women's basketball teams are prohibitive favorites once again to win gold, and the U.S. women's soccer team enters play as the favorite as well.
Of course, you can use a point spread on individual games to seek a more reasonable return on a bet, but even then, you're paying a high price for the expected dominance of the U.S. squads. The men's team is favored by 12.5 points in its opening game against Serbia, meaning the U.S. has to win by at least 13 for your bet to be a winner. The women's team is favored by 20.5 in its opener against Japan.
Caesars Sportsbook oddsmaker Chris Pearce said the company expects to take eight to 10 times the total amount of bets that it did in 2021.
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