Tokyo Olympics Betting Guide for 2021

The 2020 Tokyo Olympics is finally happening in 2021. With 339 events to choose from, our Summer Olympics betting guide will show you the best sites to bet at, most popular sports, how odds and bonuses work, and more.
Best Sites
How to Sign Up
Popular Sports
Betting Tips
Betting Bonuses
Olympics History
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Information

Are the 2020 Tokyo Olympics Cancelled?
No, due to the Covid-19 pandemic the 2020 Tokyo Olympics were postponed and rescheduled for the summer of 2021. They will now take place from July 23 – August 8.

Top Olympics Betting Sites for Canadians

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Last reviewed: September 2021
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The expert team at OnlineGambling.ca carefully reviews and ranks the best online casinos and sports betting sites available in Canada, based on the following criteria: security, payout speed, win rate, bonuses, choice of games/sports markets, customer service and mobile compatibility. Read more about us.
Canada’s top sportsbook
1 Since 2006
4.5 /5
Excellent
C$200 Bonus
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Pros

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Quickest payouts
2 Since 2001
4.4 /5
Great
C$200 Bonus
  • Check iconWin Rate: 100%
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Pros

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4.3 /5
Great

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4 Since 2003
4.2 /5
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5 Since 2008
4.2 /5
Great
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4.1 /5
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4.0 /5
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3.8 /5
Good
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9
3.9 /5
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10 Since 2017
3.9 /5
Good
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Find out how our expert team reviews and finds the best sports betting sites for the Summer Olympics.

Can you Bet on the Olympics?

Absolutely. As with all other sports betting in Canada, you'll be able to bet on all 339 Olympic events at our recommended sports betting sites from your mobile or desktop device.

Popular Summer Olympics bets include 'Nation to win most Gold medals', 'Total medals for a Nation', and many specific bets on individual games or events.

How to Sign Up and Start Betting

To get started betting on the Olympics for real money, take these following steps:

  1. Choose one of our recommended best Olympics betting sites and sign up
  2. Visit the sports section of the betting site, and find 'Olympics' in the side menu
  3. From there, click on your preferred Olympic sport and event to bet on
  4. Choose a market and click on the bet to see how much you could win in a 'Bet Slip'
  5. Place the bet, and wait for the game or event to unfold to collect any winnings

How Betting Odds Work at the Olympics

We’ll take you through an example, to work out how betting odds work at the Olympics. The table below shows a hypothetical, but probable, list of the favourite nations to win the most Gold medals:

Nation Odds
USA flag icon USA 2.00
China flag icon China 3.50
Russian Olympic Comitee flag icon Russian Olympics Committee* 6.50
UK flag icon Great Britain 6.50
Japan flag icon Japan 12.00
*Russia is banned from the 2020 Olympics due to doping, but cleared Russian athletes are allowed to compete under the neutral Russian Olympics Committee (ROC) banner

The 2.00 odds for USA to win the most Gold medals mean that they are favourites. So, if you bet C$10 and they win, you’ll win C$10 back plus your stake back for a total returns of C$20.

If you fancy Japan, meanwhile, to be the 10th hosting nation to win the Olympics, then a C$10 bet on them could see you with a profit of C$110. That’s C$120 in total with your stake back.

We’ve used decimal prices, but other Summer Olympic sports may use the American money line system or even fractional odds. For more information on different way of expressing betting prices, see our Olympics odds calculator below:

Popular Summer Olympics Betting Events

The Olympics in 2021 will see the most sports (33), disciplines (50) and events (339) take place in the Modern Games’ history. Here are some the most popular Summer Olympics sports to bet on:

  • Soccer/Association Football

    Soccer/Association Football

    All the usual soccer betting odds from regular competitions are available on the men’s and women’s Summer Olympics tournaments. Canada women’s team claimed Bronze at Rio 2016, back them to win a medal again.

    Olympic rules for 2021 state most of the squad must be under 24 years old (usually under-23 pre-Covid) with 3 overage senior players allowed. There are no restrictions for the women’s squads, however.

    Eg: Brazil to beat Argentina
    and both teams to score
    2.38
    Brazil
    v
    Argentina
  • Tennis

    Tennis

    The best professional tennis players get the chance to battle for Gold every four years. Like any Grand Slam tournament, there are men’s and women’s singles and doubles events, plus the mixed doubles draw.

    As with soccer, all the regular tennis betting odds you would expect to see such as ‘next set winner’ and ‘correct set scoreline’ are on offer.

    Eg: Serena and Venus Williams
    to win a women’s doubles
    match in straight sets (2-0)
    2.50
    Serena Williams
    v
    Venus Williams
  • Golf

    Golf

    Golf has only taken place at three previous Olympics (1900, 1904 and 2016). The last edition in Rio saw a number of top pros choose to not take part, but expect more big names in Tokyo.

    In terms of golf betting, the winner, top six, eight and even 10 places, just like at the Majors, are up for grabs in the Olympic tournament.

    Eg:
    Tiger Woods
    7.50
    Tiger Woods
  • Track & Field Athletics

    Track & Field Athletics

    Perhaps no other sport is quite so synonymous with the Summer Olympics than athletics. And there was big Canadian interest at Rio 2016 with Derek Drouin winning Gold in the men’s high jump.

    Whether it’s sprints, hurdles or long-distance track races, or other field events like the long jump, javelin or triple jump, betting is available on Gold medals.

    Eg: Usain Bolt

    to win the men’s 100m

    1.50
    Usain Bolt
  • Boxing

    Boxing

    Boxing will permit professionals to fight alongside amateurs for the first time at the 2020 Olympics, but most of the top names won’t compete. ‘Round by round’, ‘method of victory’ and futures markets on ‘who will win Gold’ in certain weight classes are all on offer for boxing betting.

    Many greats have fought at the Olympics, including Gold medallists Muhammad Ali (then known as Cassius Clay), Lennox Lewis (then representing Canada) and most recently GB’s Anthony Joshua.

    Eg: Nicola Adams

    to win the women’s
    flyweight tournament

    3.25
    Nicola Adams
  • Swimming

    Swimming

    The Summer Olympics have done wonders to raise the global profile of swimming. With so many different races, disciplines and distances, you’re never short of events to bet on.

    There will be particular swimming interest at the 2020 Olympics, with Japanese duo Kosuke Hagino and Rie Kaneto winning Gold in Rio.

    Eg:
    Australia to win the women’s
    4 x 100m medley relay
    4.00
    Australia
  • Field Hockey

    Field Hockey

    Hockey has a rich history at the Summer Olympics. Besides betting on which country will win Gold and individual matches, anytime goalscorer prices are available.

    Canada has qualified for the men’s tournament, and have been drawn in the same group as the likes of former champions Great Britain, The Netherlands and Germany, as well as last Olympics’ Silver medallists Belgium.

    Eg:
    Germany to win the men’s
    field hockey Gold medal
    4.50
    Germany
  • Basketball

    Basketball

    Despite American dominance due to the NBA (their men have won 15 of the 18 Olympics they’ve entered, and the women 8 out of 10), basketball remains part of the Summer Olympics.

    Spread betting is a common theme if you’re looking to place a wager on one of the many matches that take place at the Olympic Games. Another basketball betting option this Olympics is the 3x3 event, which makes its debut.

    Eg:
    The United States to cover
    the spread and win
    by 15 points at
    2.88
    the United States

Top 5 Olympics Betting Tips

1
Choose a Sport you Know

With 33 sports and 339 events to pick from, you’re certainly spoiled for choice. While it might be fun to place a low wager on a sport that is new to you, it is always best to bet on what you know for your bigger bets to beat the bookies.

2
Go Niche if Possible

Related to the above tip, if you know your stuff about the more niche sports such as table tennis, rugby sevens or water polo, then this is where you can potentially win big. You can outsmart the bookies with your expert insight.

3
Research Athletes’ Form

Athletes for traditional Olympic sports such as track & field events, gymnastics and rowing, tend to target the biggest competitions such as the Summer Games and World Championships. It is best to base your research on these, rather than smaller events.

4
Look out for Betting Specials

Whichever sports betting site you choose to sign up to, be sure to keep an eye on daily specials and promotions they’ll offer throughout the Summer Olympics. You’ll be able to take advantage of free bets and enhanced prices.

5
Bet Early on Futures

The best prices are usually available before the Games begin. Especially when it comes to futures bets, such as for a certain athlete or team to win Gold. If you fancy a certain market to win, then bet early where possible.

Betting Bonuses

<strong>Welcome Bonus</strong>
Welcome Bonus
Most top sports betting sites offer a sizeable welcome bonus to attract new players – usually a Match Bonus that can be claimed across 2-4 deposits. It can take a while to meet the bonus wager requirements, so the 17-day Olympics is the perfect opportunity to redeem the offer.
<strong>No Deposit Bonus</strong>
No Deposit Bonus
Before major sporting events especially, betting sites usually offer enticing no deposit bonuses. This means you can win real money for free. No deposit bonuses are worth much less than Match Bonuses, but there is no risk involved.
<strong>Enhanced Odds</strong>
Enhanced Odds
Another great bonus to look out for are enhanced odds. This could be in the form of a welcome offer: where you pay a very low wager for a favourite, whose previous short odds have been enhanced, to win. Or, betting sites will offer enhanced prices and specials for certain events.

Modern Summer Olympics History

Our table below goes through the modern Summer Olympics in full since its inception in 1896, including the nation with most Golds each Games, the hosting city/country, and number of sports that were competed in:

Year Host No. of Sports No. of Nations Winning Nation
1896 Athens, Greece 9 14 USA
1900 Paris, France 19 24 France
1904 St Louis, USA 16 12 USA
1908 London, UK 22 22 Great Britain
1912 Stockholm, Sweden 14 28 USA
1920 Antwerp, Belgium 22 29 USA
1924 Paris, France 17 44 USA
1928 Amsterdam, The Netherlands 14 46 USA
1932 Los Angeles, USA 14 37 USA
1936 Berlin, Germany 19 49 Germany
1948 London, UK 17 59 USA
1952 Helsinki, Finland 17 69 USA
1956 Melbourne, Australia 17 72 Soviet Union
1960 Rome, Italy 17 83 Soviet Union
1964 Tokyo, Japan 19 93 USA
1968 Mexico City, Mexico 18 112 USA
1972 Munich, (West) Germany 21 121 Soviet Union
1976 Montreal, Canada 21 92 Soviet Union
1980 Moscow, USSR (Russia) 21 80 Soviet Union
1984 Los Angeles, USA 21 140 USA
1988 Seoul, South Korea 23 159 Soviet Union
1992 Barcelona, Spain 25 169 Unified Team (former Soviet)
1996 Atlanta, USA 26 197 USA
2000 Sydney, Australia 28 199 USA
2004 Athens, Greece 28 201 USA
2008 Beijing, China 28 204 China
2012 London, UK 26 204 USA
2016 Rio de Janeiro, Brazil 28 207 USA
2021 Tokyo, Japan 33 TBC TBC
2024 Paris, France 32 TBC TBC
2028 Los Angeles, USA TBC TBC TBC
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How we Review the Top Olympics Betting Sites

In order to feature on our top Olympics betting sites list, our review team considers the following criteria:

Bonuses
Bonuses
Sports betting sites offering big welcome bonuses and regular offers, such as daily no deposit bonuses and other promotions, score highly with us.
Betting Options
Betting Options
With 339 events happening at Tokyo 2020, the top sports betting sites must offer odds and markets on at least the majority, and all 33 sports.
Safety & Security
Safety & Security
We only recommend fully regulated and licensed sports betting sites, to ensure you have as safe and secure gambling experience as possible.
Payment Options
Payment Options
It’s important for a sports betting site to offer a number of deposit and withdrawal options, such as debit & credit cards, eWallets and more.
Customer Service
Customer Service
The Olympics attract many beginner bettors, so top responsive customer service that is available 24/7 is a must for various questions and help.

FAQs

Is Summer Olympics betting legal in Canada?

Yes, as with other sports events, Summer Olympics betting in Canada is 100% legal as long as you are gambling at legitimate sports betting site based offshore, such as the ones we recommend.

What are the best sites to bet on the Summer Olympics?
Which are the most popular Summer Olympics sports to bet on?
When are the 2020 Olympics happening?
How many events will take place at the Tokyo Olympics?
What are the new sports for the 2020 Olympics?
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Is live betting available at the Summer Olympics?