High Bettor Turnout for Summer Olympics

By Matt Speakman,
Betting Expert at online-gambling.com

Matt Speakman Betting Expert at online-gambling.com

A die-hard fan of the Patriots, Matt Speakman is an expert on everything related to sports betting and DFS sites. Over the years, he has proven a valuable asset for our team at online-gambling.com. You can find Speakman's professional tips and tricks in any of his many articles on the website.

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Last updated: August 16, 2024

After two weeks of fierce competition between 10,500 from 184 countries, the Summer Olympics in Paris are finally closed. People tuned in from all over the world, and watched in person, to experience the massive cultural event. However, the sports trials were also of interest to many bettors, including a substantial amount who were betting on the Olympic Games for the first time.

Sports betting available to more American adults

Part of this shift has to do with the legalization of sports betting in the US. Many more people now have access to legal betting platforms than did during the last Summer Olympics, which took place in 2021 rather than 2020 due to the COVID-19 pandemic.

Sportsbooks were ahead of the game, knowing that this summer’s sporting activities would be a huge event for their clients—and a way to attract new customers as well. Top platforms in the US like DraftKings and FanDuel were prepared to take on many extra bets during the summer season. Even microbetting platforms such as Betr in Maryland will be profiting from the uptick in bets.

Some of the most popular games for betting were basketball, soccer and tennis. However, many other events were also available to bet on, depending on the platform used and location of the bettor. Some states, for example, have limitations on what sports events can be bet on. In particular, it is possible that in certain states, bettors could only place wagers on final medal events, rather than trials.

Is the Olympics a strong boost for US sportsbooks?

The Olympics also provided an exceptional boost for sportsbooks during what can traditionally be a low-turnover season, with popular leagues like the NFL and NBA on hiatus. This might be more keenly felt in the US, as European markets were also active with soccer tournaments until just before the launch of the Olympic Games.

Some experts have also pointed out that the OG boost might not be as spectacular for larger sportsbooks, which see consistent action throughout the year. However, it might have a significant effect on smaller platforms without the same consistent draw.

There is also a notable issue for American viewers: the time difference. This caused an even bigger problem during the games in Tokyo and Beijing, where viewership dipped significantly. In the case of the Paris events, the time gap is shorter, but still means that main events will not be broadcast live but rather via replay. This could also lessen the excitement for those seeking to participate via sports betting.

The most consistent change that can be noted this year is how much sports betting has grown throughout the States since the Tokyo games three years ago. Now over 30 states allow legal sports betting of some kind. Some of these also allow online betting, which has made sports betting more accessible than ever before.

A closer look at the numbers provided by the American Gaming Association reveals that in 2021, during the Tokyo Olympics, 97 million Americans were eligible to participate in sports betting. This year, that number has nearly doubled to 164 million.