Updated Updated: July 28, 2020

Olympics Betting Odds and Guide – Tokyo 2020

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Betting on Olympics 2020 | Guide

tokyo 2020 olympics logo

All competing athletes will have their eyes firmly fixed on the Tokyo 2020 Summer Olympics now.

This year brings some big changes to the structure of the event. Equality and diversity are the overriding themes of the games and this means we’ll see a total of 18 mixed or open events, where both women and men will compete as equals.

New Events

A host of new events have also been introduced and these include skateboarding, surfing, karate, sport climbing and baseball/softball. What does this all mean for the betting fans around the world? It means even more betting opportunities and the potential to find plenty of value bets along the way.

Athletes always build their season around the Olympics and so you know that the best of the best will be at the very peak of their abilities. It only comes around once every four years and there is no bigger achievement than to stand on the podium and receive an Olympic medal.

Betting Markets

What markets are available when betting on the Olympics? The huge range of sports that take place at the Olympics is the very reason why we get excited for this world-famous event. The obvious betting opportunities can be found in the total medals market and also in the track and field events. Punters often bet on outright winners for events like the 100-metre sprint, but there is a lot more to focus on than just these popular markets.

Below is a list of the sports that generally take the most wagers overall, the popular UK markets where we have strong athletes and some special betting markets as well.

Top Olympic Betting Markets:

  • 100m Winner
  • 200m Winner
  • 10,000m Winner
  • Heptathlon Winner

Special Olympic Bets:

  • Will there be a new world record?
  • Will there be a false start in the 100m final?
  • Most Gold Medals
  • Most Silver Medals
  • Most Bronze Medals
  • Over/Under Nation Medals

Olympics Special – Quick Bet

betfair screenshot of special bets section

Will Opening Ceremony take place on 24/07/2020?

  • No @ 1/3
  • Yes @ 2/1

Olympics Betting Odds

It’s a little bit early for the full betting odds because there are still many qualification processes to go through first, and many squads still to be decided upon. However, the bookies are already starting to offer odds on the big events and overall medal table predictions, so we’ve taken a look at the early Olympics betting odds and picked out the favourites and best bets so far.


The 100 and 200-metre sprints always draw the biggest crowds in the stadium and millions tune in across the world to watch it on TV. These final sprints are some of the last events of the Olympics and all eyes will be on the fastest men and women in the world.

Mens 100m – Tokyo 2020 Outright Winner

Christian Coleman is outright favourite for the men’s 100-metre sprint at 1/1 odds with SkyBet. Noah Lyles is the man most likely to steal his limelight who can be backed at 7/2 odds with William Hill.

Womens 100m – Tokyo 2020 Outright Winner

Shaunae Miller-Uibo is currently backed as the favourite for the women’s 200 metre sprint and you can place a bet on her now with SkyBet at 1/1 odds. Dina Asher Smith is next in line for the gold with William Hill backing her to win at 2/1 odds.

10,000-Metre Marathon

Other popular events include the 10,000-metre marathon with Mo Farah being backed by SkyBet at 7/2 odds to claim the gold medal. Elsewhere, Katrina-Thompson Smith is currently being backed at 13/10 odds with William Hill to win the women’s heptathlon.

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Paddy Power have some early odds available for the tennis even though the qualifying players don’t get officially selected until June. Both Serena Williams (5/1 odds) and Novak Djokovic (5/4 odds) are being backed to take the Singles gold medals.

It will be worth looking at Naomi Osaka and Kei Nishikori in the tennis as well, the local duo will both be looking to win medals on their home soil of Japan.

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Table Tennis

China is the country to beat when it comes to table tennis with a total of 53 winning medals already. Saying that Japan are starting to show signs that they might be ready to knock China off their top spot. Current table tennis stars Ito Mina and Harimoto Tomokazu will both be looking to push China all the way to the gold medal podium position. 

The table tennis betting odds are not available yet but we’ll update them here as soon as they become available.


Swimming is the one sport that offers punters many betting opportunities and history shows that it’s often dominated by the Americans and Australians. The Rio Olympics gave the UK a champion of their own though, in the shape of Adam Peaty. The youngster broke the world record at Rio and the chances of him breaking his own record are definitely worth a closer look. 

The swimming betting odds are not available yet but we’ll update them here as soon as they become available.

The UK At The Olympics

betpal dog mascot holding the UK flag

The Rio Olympics was a huge event for Team GB and they flew home with a total of 27 gold medals and there are a lot of positive signs that they will do well again in Tokyo.

Our cycling team have looked strong for many years now and they will be looking to carry on their successes from four years ago.

The likes of Laura Kenny, Jason Kenny, Eleanor Barker and Katie Archibald will all be looking to bring back multiple medals. All eyes will be on Laura Kenny as well with the chance of becoming the most decorated British Olympian ever.

The swimming events gave us a new British champion with Adam Peaty taking the 100-metre breaststroke title. Peaty took the gold with a new world record and he’ll be looking to take another gold and another world record in Tokyo.

The fact that he has won gold medals at the commonwealth games and world championships since Rio means that he will be the man to beat this summer.

The UK has always nurtured great athletes in the track and field events and we’ve got a great squad ready and waiting for the Tokyo games. Laura Muir, Katrina Johnson-Thompson and Dina Asher-Smith are all expected to win medals this summer in the middle-distance running, heptathlon and sprinting events.

Elsewhere, British diver Tom Daley should be able to pick up a medal or two and gymnast Max Whitlock will be looking to keep the gold in the pommel horse event.

Nations with the Most Medals

William Hill is already offering odds on the nation with the most medals overall and it’s no surprise to see the USA up at the top with 1/10 odds. China is second with 8/1 odds and the UK are third favourites at 12/1 odds. Below we’ve got the list of the top 10 countries and their current Olympics betting odds:

Top 10 Nations – To Win Most Medals at Tokyo 2020 Olympics

  1. USA – 1/10
  2. China – 8/1
  3. UK – 12/1
  4. Japan – 16/1
  5. Germany – 66/1
  6. South Korea – 100/1
  7. Australia – 200/1
  8. France – 200/1
  9. Italy – 200/1
  10. Brazil – 500/1

Olympic Betting Tips & Strategy

The Olympics is a huge event and so it comes as no surprise to see some punters getting overwhelmed with all the betting markets and opportunities. So, how do you go about backing a winner? How can you take advantage of all these betting markets? Read on and we’ll give you some of our top tips and strategies that will help you find more winning bets at the Olympics.

Betting On What You Know

The Olympics come around once every four years and so it’s not something that you can quickly become an expert on by following it week in week out, like football or basketball, for example.

This means that you need to bet wisely and keep things simple. It’s all too easy to start looking into new and interesting betting markets with so many events taking place.

The key is to stick to the sports that you know about, you might not be an expert on the 100-metre sprint but you’ve probably watched it a few times before and understand how it works and what it takes to win. Keep it simple and bet wiser.

Starts Putting Together Betting Ideas Now

Start researching now as there will be many sporting events leading up to the start of the Olympics. Many of these will be qualification events and this means that you can pick out who the strong contenders might be in Tokyo.

You might not be able to view these events live but you can read up and do your research and start to put your betting strategy together ready for the start of the games.

A little bit of research will go a long way when it does come around to the opening day in Tokyo. You’ll be primed with useful knowledge about the top athletes and this should help you to find out those high-value bets.

Study History & Statistics

A good tip when studying previous results is to not look solely on finishing positions. What you should be looking for is gradual progression leading up to the games in the summer.

The Olympics is the ultimate event for most athletes and they work their seasons in cycles in the hope of hitting their peak form at just the right time, in this case, the date of their Olympic events.

You could look at the world championships before Rio 2016 and see which countries and athletes consistently performed well, then look at the most recent world championships and see if you can find the athletes who have the potential to take their winning form into Tokyo.

Expert Advice

Following expert advice can give you valuable information but we want to make sure that you follow the right advice.

You can find hundreds of tips and predictions sites and you might find some useful information, but it’s not always trustworthy.

Our tip is to follow the professional experts and by this, we mean athletes who have previously taken part in the Olympics. These are the people who offer the best advice as they have been there and experienced the atmosphere.

Olympics History

1896 Olympic opening ceremony
1896 Olympic opening ceremony

If we look back at the history of Greece then we can see that the first Olympic Games took place in 776 BC. The event back then was dedicated to the 12 Olympian Gods and was held at the ancient site of Olympia, made famous for its link to the mythical gods Zeus and Hera.

The historic event carried on through to 393 AD but it took another 1503 years for it to be reintroduced in the modern era. Since 1896, the Olympics has been an international event and is still considered to be the ultimate accolade for athletes across the world.

There have been countless numbers of athletes taking part in the games but only a handful of them went on to become true legends. Ray Ewry held the title of most gold medals for over a hundred years until Michael Phelps took the title in 2008 with his 11th gold medal.

Jesse Owens, Carl Lewis, Mark Spitz and most recently Usain Bolt have all created their own Olympic magic by dominating their events. It’s worth taking note that three of those Olympian legends are American and the most successful Olympic nation are still producing number one athletes across multiple events.


We recommend that you sign up to multiple sites and this way you can take advantage of the best odds by shopping around.

Our types:

We suggest that you keep things simple with so many events available to bet on. Bet wisely and stick to what you know.

Yes, there will be many in-play markets for the longer scheduled events. Shorter events such as the 100-metre sprints won’t be offering in-play markets though.

The USA currently holds the most with a huge 2,520 medals in total, more than double any other country in the history of the event.

The 2024 Summer Olympics will be hosted in Paris, France.