note: There is no final decision yet but possibly the Olympic will be postponed to 2021.
The Summer Olympics were created as a symbol of peace, cooperation between different nations and good sportsmanship. While the cultural impact of this event can be overstated, the Games are also a great opportunity for bettors around the world to enjoy a month-long bout of fun, excitement and anticipation.
Luckily, Tokyo 2020 is just around the corner, which means that now is perhaps the best chance to learn everything there is to know about Olympic Games betting. The basic principles of betting still stand, but there are subtle differences that make this illustrious sports bonanza can’t-miss event.
Adding Variety to Existing Markets
Traditionally, markets for Olympic Games betting aren’t as expansive as other major sporting events, such as the FIFA World Cup or the NBA Playoffs. The main reason for this is the so-called “diluted talent phenomenon”, which means that the multitude of teams and athletes competing in every sport brings down the quality of the competition a bit. Much of this is due to the somewhat dubious qualification rules for some sports.
By looking at Olympic Games betting from this superficial perspective, it’s easy to conclude that the lack of stiffer competition results in less interest. However, it’s still a who’s who bonanza of the world’s best athletes squaring off against one another. Not only this, but bettors around the globe have a chance to learn something new about a sport.
This injection of variety into otherwise tame markets makes the entire month of August a treat for any sports fan. You’ll be bombarded by incessant coverage of basically every sport imaginable, so you’re bound to immerse yourself in a sport you haven’t paid much attention to before.
Things to Consider when Betting on the Olympics
Firstly, you won’t have to worry about athletes refusing to compete. The Olympics, despite the diluted competition, still tower above any and all competitions in terms of cultural impact. Players and teams want to represent their country and tell their kids about who they won an Olympic medal. For instance, most NBA players expressed a desire to compete at Tokyo 2020. National pride is a big thing for many athletes, which will result in a much easier gathering of information about matchups and players – because well-known names will participate.
Next, you should consider taking a chance on sports like track & field and swimming. Running competitions available to bet on using UK online bookmakers are especially fun because they don’t take a long time and it’s easy to find out everything there is to know about individual competitors. Betting on swimming is also great because of the enormous excitement which surrounds every race.
Finally, you also need to cover some specifics which may or may not relate to all sports. Think about the following factors:
- Fatigue. Many athletes see summer as their offseason, which they use to rest and recuperate. Every four years, the Olympics kind of shorten that offseason, which results in plenty of instances of underperformance, even by the biggest star. If an athlete participates in a lot of competitions/games in the coming months, consider it as a red flag.
- Experience. There are athletes across all sports which are known to up their game at the Olympics. These experienced Olympians know the environment and, therefore, will have a lesser chance of underperforming.
- Chemistry. National teams are always difficult to evaluate because the players don’t play a lot of games together. To improve your bankroll management when betting on the Olympics, we advise you to keep track of any new additions to teams. If, for instance, Spain adds several new players to their men’s national basketball team, the squad as a whole might underachieve because the players aren’t used to playing together. Didier Deschamps, manager of the French soccer team, is one coach who values chemistry more than talent.
New Kids on the Block
Olympic Games betting will likely be more exciting at Tokyo 2020, mainly because of the addition of five new sports to the competition – baseball, karate, skateboarding, surfing and sport climbing. Even if you’re a bettor who loves to take a risk-averse approach, you can’t ignore the excitement factor of these new additions.
While betting on baseball (and MLB, in particular) is already popular, the appearance of the sport at the Summer Olympics is bound to garner global attention. More bettors taking their punt will surely affect the odds, so nobody technically knows what to expect.
Skateboarding and surfing are novelties for most, so now is a good chance to read up on the sports and their respective rules. At the end of the day, Olympic Games betting is both fun and a learning experience. You can also use this time to practice and become a much more proficient bettor come Autumn time. Good luck!