This summer is full of sports action. We first have the Euro 2024 already making headlines, and then just when the action dials down we have the Paris 2024 Olympics starting in late July.
Apart from witnessing impressive athleticism, the Olympics are a great way to make some money on the side. Not many people know that they can place a bet on the Olympics, but being mostly individual sports, athletes often push harder than ever before since they don’t get many chances to appear in Olympic games throughout their careers.
This means that we often have underdogs achieving incredible things, and new records that nobody thought it is possible. In other words, there is plenty of action whether you are a seasonal bettor or somebody who likes to explore new things.
In terms of betting, if your local sportsbook doesn’t offer the Olympics, you can always go for Bovada sportsbook, where you can place a bet in any discipline.
But how can the Olympics become a profitable betting journey? Are there any strategies?
Let’s find out.
Understanding the Paris 2024 Olympics
Before we dive deeper into betting strategies, limits, and popular sports to bet on, let’s talk more about the date, place, and more about history.
The Paris 2024 Olympics will be held from July 26 to August 11, 2024, which is the first time the city has hosted the Olympics since 1924. It might be the Mandela effect, but I swear that most people think that Paris hosted the Olympics a few years ago.
With every new Olympics stage, we push sports to another level, setting new values, practices, and programs that are designed to ensure the future of all sports. This year’s edition focuses on sustainability and inclusivity, which makes it a truly unique spectacle both on and off the field.
First things first, let’s set the stage. The Paris 2024 Olympics will be held from July 26 to August 11, 2024, marking the city’s first-time hosting since 1924. This year’s Olympic games in Paris focus solely on sustainability and inclusivity, making it a unique spectacle both on and off the field.
The 2024 Paris Olympics will take place in many different places, such as:
- Aquatics Centre (reserved for swimming, diving, and water polo)
- Bercy Arena (Basketball, trampoline and artistic gymnastics)
- Bordeaux Stadium (Football)
- Champ de Mars Arena (judo and wrestling)
- Château de Versailles (equestrian sports and modern pentathlon)
- Eiffel Tower Stadium (which is quite impressive right next to the Eiffel Tower and reserved for beach volleyball)
- Elancourt Hill (cycling)
- Geoffroy-Guichard Stadium (football)
- And many more.
Which Sport to Put Your Money On The 2024 Paris Olympics?
Now let’s get down to business and talk about sports. Which are the best ones to bet on? Well, this depends on your personal preferences and of course, knowledge. You wouldn’t want to bet on a sport that you are not interested in watching just for the sake of profit.
However, there is no denying that some events attract more betting action than others. Why? Well, it has to do with their popularity and the data available for bettors to analyze.
Here are some of the most popular sports people want to bet on:
Athletics
Athletics is probably one of the most popular sports in the Olympics that people wager on. This includes track and field events and it is in the spotlight of every Summer Olympics. This is where we have stars like Italy’s Marcel Jacobs, who has clocked 9.92 seconds in the 100 meters and is the favorite to win the race in Paris.
Swimming
Next, we have swimming events that also attract a lot of betting action. There are plenty of betting choices here, such as betting on individual swimmers or on teams. Plus, there are different disciplines like freestyle, backstroke, and butterfly.
Gymnastics
There are 18 gold medals up for grabs, which means that the competition will be harder than ever. Gymnastics often offer plenty of betting opportunities, and there is plenty of data on consistency that might improve your winning chances.
Top Strategies for Betting on the Olympics
1. Diversify Your Bets
Putting all your eggs in one basket doesn’t really make sense in the world of betting. Therefore, you need to diversify your bets across different sports.
The strategy here is to go for sports that you are familiar with and are interested in watching.
2. Follow the Form
The current form of the athletes is the key statistic most Olympic bettors worry about. Why? Well, this is the closest measurable result that might point to the right outcome in an event. So, no matter if an athlete has done incredible things throughout his/her career, you have to look at their current form and most recent results.
3. Understand the Betting Markets
There are many different things you can bet on when it comes to the Summer Olympics. There are no right or wrong strategies here. The goal is to go with what you have the most data on.
Popular betting markets include:
- Outright Winners: Betting on which country or athlete will win the most medals.
- Individual Events: Betting on the winner of a specific event.
- Proposition Bets: These are bets on specific occurrences, such as whether a world record will be broken.
4. Try Live Betting
Live betting is one of the best ways to massively increase your profits in a couple of minutes. But at the same time, you run the risk of losing money. However, it doesn’t hurt to try. This form of betting usually provides a dynamic way to catch the Olympic action.
5. Don’t Forget About the Bonuses and Promotions
Many sportsbooks will offer Special Olympics promotions, so make sure to take advantage of all the bonuses. These can provide extra value and increase your betting bankroll. Always check the terms and conditions to ensure you understand the requirements.
6. Set Betting Limits
Responsible betting is crucial. Set a budget for how much you’re willing to bet and stick to it. This ensures that betting remains a fun and engaging activity without leading to financial stress.
