U.S. teams are interested in online betting at Olympics

Online sports betting interest in the Olympic Games is expected to hit an all-time high this year, largely driven by the dominance of U.S. basketball and soccer teams. The surge in betting activity comes as millions of Americans have increased access as more states legalize sports betting.

John Ewing, a spokesperson for BetMGM Sportsbook, expects this year’s event to be “the most waged Olympics in the history of legal sports betting.” The growing interest is supported by the growing number of states offering legal sports betting to more than 38 Washington D.C., up from 22 during the Tokyo Olympics. According to Joe Maloney of the American Game Association, approximately 164 million Americans, or 67 percent of the adult population, can now legally bet on the Olympics, up from 97 million three years ago.

According to an analysis released by the Associated Press, Tokyo, which had many events at a less convenient time for U.S. viewers, is 13 hours apart, while the timing of the Paris Olympics is only 6 hours apart from New York.

Adding to the charm is that the U.S. men’s and women’s basketball teams, and the U.S. women’s soccer teams all compete as strong favorites. Boasting stars like LeBron James and Stephen Curry, the U.S. men’s basketball team is a $650 favorite, which means it has to bet $650 to win gold. With celebrities like Diana Taurasi and Brenna Stewart, the women’s basketball team is a steeper $1,400 favorite.

Despite these huge odds, there is still value in point spread betting. For example, the U.S. men’s team had to win the opening match against Serbia by at least 13 points to record a 12.5-point spread. The U.S. team eventually won Serbia by 110-84. The women’s team faced a similar scenario, and had to win against Japan by more than 20 points.

No guaranteed outcome in sport

Betriver’s Tim Whitehead noted that the U.S. team is the favorite, but there are no guarantees in sports betting. He mentioned the pre-Olympic games where the U.S. men’s team narrowly beat South Sudan despite being a 43.5-point favorite. This unpredictability adds to the excitement and potential rewards of Olympic betting.

The projected U.S. advantage is over/under of total gold, set at 40.5, and -2500, which is also reflected in the probability that the U.S. will win the most medals overall. China, the U.K., and Japan are considered the closest competitors.

Caesars Sportsbook’s Chris Pierce expects a significant increase in bets, especially on basketball, compared to the last Olympics. He said, “It would be a big shock if either team (the U.S. men’s or women’s teams) lost,” noting that 95 percent of bets so far are in favor of the U.S. team.

Apart from mainstream sports, betting extends to lesser-known events such as speed climbing or even breakdancing, which is now characterized as an Olympic sport. Fanatics Sportsbook’s Kevin Hennessy emphasized the popularity of markets such as 100-m races, although he noted that betting on events judged by scores such as gymnastics is restricted in some states. 카지노사이트 모음