Olympics Betting Recap: Women’s Sports Fuels Action, US Narrowly Wins Gold Count

The 2020 Olympics, contested a year tardily inward 2021 because of COVID-19, are eventually over.

One leading US sportsbook says women’s sports for the most part generated the betting action o'er the past times II weeks. Australia-based PointsBet is licensed to facilitate sports betting inwards half a dozen US states — Colorado, Iowa, Illinois, Indiana, Michigan, and New Jersey. And inwards terms of Olympics betting for its US operations, John Jay Croucher, head up of trading for PointsBet, says roughly 60 percent of the money wagered was on female athletics.

Croucher said that the expansion of legal sports betting has led to more Americans seemly familiarized with how odds and different sports wagering lines work. With the May 2018 repeal of the federal forbiddance on sports gambling, legal sports betting is today upwards and running inwards 21 states, plus DC. Most of those states countenance online sportsbooks.

It’s been great to ensure that twitch from a men’s focus,” Croucher told Sportico in an interview. “This is the first of all Olympics since in that location has been legalized online sports betting inwards the US.

“People experience a stratum of impropriety now,” Croucher added. “People are used to betting on the NFL or NBA. But they’re at present … able-bodied to wager on new sports.”

Women’s Sports Leads

Male sports, both professionally and collegiate, greatly overlook sports betting inward the US. Approximately 90 percent of the wagers licensed sportsbooks occupy during a typical year are on games contested past men.

NFL and college football game generate the to the highest degree wagers. Basketball, both NBA and college, the latter highlighted past the NCAA Division 1 men’s basketball tournament, trails closely. The MLB also receives considerable action, while the NHL is a remote 4th of the liberal four inward terms of wagering activity.

During the 2020 Summer Olympics in Tokyo, however, it was the women who led the betting handle. Sports that received material betting includes women’s soccer, swimming, and gymnastics.

PointsBet revealed that the US women’s soccer team was responsible for 85 percent of the sportsbook’s sue on soccer.

Unfortunately for many bettors, the US women’s soccer squad failed to win gold. Team USA was favourite(a) at +110 to win the most prestigious medal, but ended up finishing 3rd with bronze.

2020 Olympics Betting Recap

Because of the Olympics beingness contested during the overnight hours when to the highest degree Americans are go asleep, PointsBet reported a reducing of live, in-play betting from the 2016 Summer Games inwards Rio de Janeiro. The sportsbook said bettors more intemperately wagered instead on full-game outcomes and medal results.

Prior to the 2020 Olympics, the United States was the sonorous favorite to win the most combined gold, silver, and bronze medals at -900. Team USA prevailed by claiming 113 medals, with mainland China a remote 2nd at 88. Bettors who took the -900 betting odds won just now $11.11 for every $100 wagered.

The US was even more favourite(a) to set off Nihon with the to the highest degree gold medals. They hardly did so past a look of 39-38, also o'er China. Favored at -1200 to win the to the highest degree gold, bettors needed to risk of exposure $1,200 to win $100.

The 2020 Olympics will follow remembered as the games that were postponed past the pandemic, and then held a yr later without fans because of on-going coronavirus concerns. They’ll also be remembered for Simone Biles’ shocking withdrawal from most of her gymnastics events, including the squad and case-by-case all-arounds.

Numerous sportsbooks refunded bets on Biles inwards the events that she did not compete.