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The 2024 Olympics will start on July 26. For the Olympics, there are 329 events from 32 different sports that you can bet on.
Clearly, there are a ton of different things you can bet on at top-rated sportsbooks. However, betting funds are limited, so we should carefully think about what sports are more worth investing in.
Olympics Pick
- Canada To Win Group A (-175) at Bet365 (check our Bet365 Review)
What We Mean By “Value”
In order to pursue this consideration more effectively, we need to emphasize the significance of betting value.
Betting value is something you discover when you perceive that the odds should be different from what they are. For example, let’s say that the money line for Team A is, in reality, -150. If you think it should be -160, then you’re perceiving a bit of value in that team.
Another way of putting the concept of value is this: you perceive value when you think the price is attractive.
Sports With More Value
When we think about the sports that have more value, then we should look forward to the Olympics with immense joy.
This is because there will typically be more value in sports that are less known. You have to consider that oddsmakers do not have the resources to become experts in every sport. Also, oddsmakers require time to become experts even in the more well-known sports.
Take college basketball, for example. Oddsmakers will more often be way off with their lines in the beginning of a given season than in the end, which is when they’ll tighten their lines. Lines will also typically be less tight for lesser-known teams within that sport.
Hidden Gems
The Olympics is a gold mine for great betting opportunities because there are lots of obscure sports. Compared to, say, basketball, hardly anyone bets on sports like archery, equestrian, and water polo.
These lesser-known sports will be the sports with value. In order to get ahead of oddsmakers without even bothering them much – because they’ll still make money overall – should try to become an expert in those sports.
Now, you can’t be an expert in every lesser-known sport. Your time is limited. I recommend choosing the lesser-known sports that you are already somewhat familiar with. For example, do you not know how water polo works to any extent? Then forget about it.
But maybe you already know what breakdancing is. Maybe you can readily understand how the judges will evaluate the competitors. Maybe this is a sport that you should want to invest in.
Below, you will find the odds for which country might win the most gold medals.
| Country | Current Odds |
|---|---|
 USA |
-2500 |
 China |
+900 |
 Japan |
+5000 |
 Great Britain
|
+5000 |
 France
|
+8000 |
 Australia
|
+20000 |
 Italy
|
+20000 |
 Netherlands
|
+35000 |
Handball
One sport in which you’ll find value is handball.
If you haven’t watched handball, it’s very easy to learn. Roughly stated, it’s like soccer, except players will try to get the ball into the opposing goal by throwing the ball with their hands. So, it’s like soccer except players use their hands instead of their feet.
In the Olympics, handball teams will be divided into two groups. The group stage will start on July 25. The top four teams in both groups will advance to the knockout stage. The loser in each knockout game is eliminated until a gold medal winner is determined.
You should know that the French regularly dominate, and yet you can get them at plus odds to win gold. You can even be a bit careful and split a unit between France and Denmark, which is the only team that can compete with France, to win gold.
Basketball
I want to make it clear that you can still find plenty of value in more well-known sports, too.
Basketball, for example, offers plenty of value, especially before the tournament has begun. Oddsmakers will have a much better idea of how to line their games after the teams start playing, so now is an optimal time to consider investing in this sport.
Below, you will find the odds for the men’s basketball tournament.
| Team | Current Odds |
|---|---|
|
USA |
-400 |
 Serbia |
+700 |
 Canada |
+800 |
|
France |
+900 |
 Germany |
+1600 |
 Spain |
+1600 |
 Greece |
+1600 |
 South Sudan |
+50000 |
When considering how to bet on basketball at the Olympics, you might find value in other teams in Team USA’s group. While it is possibly true that those other teams are dogged too heavily, the fact of the matter is that they aren’t realistic options. Team USA is rightly favored and should cruise through its group.
Canada in Group A
I perceive value in Canada in Group A. Fans of international basketball are calling this group a “bloodbath,” but Canada should easily dominate with its wealth of NBA talent, which includes Jamal Murray of the Denver Nuggets and Shai Gilgeous-Alexander of the Oklahoma City Thunder.
The Canadians are also in good form: Canada just beat France, which is heavily favored to win Group B, by double digits. No other team in Group A approaches Canada’s level of talent, and the Canadians also show strong team chemistry.
Canada is favored at -175 to win Group A, but it should be more like -250, given Greece’s weakness outside of Giannis, Spain’s dearth of talent, and Australia’s decline.
Olympics Pick: Canada To Win Group A (-175) at Bet365