Betting on the Olympic Games: What Bettors Should Know About It

Posted by Joe Solari on Sunday,April 3, 2016 8:30, EST in

As the world’s foremost sports competition with more than 200 countries participating in it, the Olympic Games are easily one of the most enjoyable international sporting events in the world. The Olympics usually feature summer and winter sports competitions involving thousands of athletes from around the world playing in a variety of competitions, including basketball, football, water sports and track events, among many others. Essentially, this offers bettors with thousands of exciting Olympic sportsbetting opportunities that can bring tremendous value in your preferred sportsbooks. But before jumping to the Olympic Games betting lines, here are some elementary things you need to note down about wagering on the Olympics.

Betting on the Olympic Games: What Bettors Should Know About It

The Popular Sports in Olympic Games Betting

As earlier mentioned, there are several competitions involved in Olympic Games, meaning we get to witness a wide variety of sports. That said, most sportsbooks tend to mostly focus on sports like basketball, football and track events, given that most bettors are adeptly familiar with such sports, though the increasing popularity of Olympics has seen sports betting sites provide lines for sports like rowing, swimming, wrestling, fencing, badminton, volleyball, boxing, diving, gymnastics, handball, hockey, judo, tennis, weightlifting and field events. Besides having popular lines on individual names like Usain Bolt or teams like the USA NBA Team, the Olympic Games odds also cover a variety of proposition bets you can also wager on.

Unfamiliar Olympic Aren’t Always a Bad Thing

As a general rule when shopping for the best Olympic Games sportsbetting lines, it is advisable to go for the sporting event you are most familiar with, rather than rushing to an obscure sport simply because the lines look lucrative. Even so, betting on Olympic Games is all about having fun and taking chances, just in the same way we sometimes take chances on teams or sports that we aren’t too familiar with like in College Basketball’s March Madness. A good number of sportsbooks often struggle to post accurate lines due to the unfamiliarity with certain sports and athletes. This offers bettors an excellent opportunity to beat the bookies by finding lines that would bring solid Olympics betting values.

Exercise Caution When Wagering on Teams or Athletes from Your Country

For patriotic reasons, a good number of bettors often bet on athletes or teams from their own countries. Every once in a while, such bets are right, leading to good profits. Most times, however, betting on a home athlete or team is discouraged, mainly because our favoritism can skew our judgment. The trick here is to find balance and maintain objectivity whenever you intend to bet on your home country.

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Money Management is A Must

As is advised in normal sportsbetting, placing wagers on Olympic Games calls for the application of sound money management plan. The variety of sports makes it difficult to pinpoint a specific money management scheme, though you can generally ensure that you only bet what you can afford to lose. Smart money management also calls for bettors to place small manageable bets rather than blowing up bankrolls simply because we feel intuitive on doing so.