Can Team USA Snag The Most Gold Medals At The Tokyo Olympics?

Posted on July 20, 2021 - Last Updated on March 20, 2024

The summer months are usually the slow part of the year for sports bettors, but not this year.

The Tokyo Olympics are here to fill the gap between betting on the NBA Finals and the upcoming NFL season.

Indiana didn’t have sports betting the last time the Olympics were around, so this is a brand-new opportunity for Hoosiers.

The opening ceremony for the Olympic Games will take place on July 23. The events will run until Aug. 8.

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Betting on USA Olympic medals

You can bet on all sorts of Olympic action using Indiana’s legal sportsbooks.

Taking the over/under on the total number of medals won by a country will be a popular betting option.

DraftKings Indiana has that value set at 112.5 for the USA. For the sake of comparison, the US took home 121 medals at the 2016 games.

Team USA has the highest total for betting. On the other end of the spectrum, Belgium and Norway have the lowest total at 7.5 medals.

You can narrow things down even further if the overall medal count doesn’t peak your interest.

Betting on just the number of gold medals for a country to win is also on the table. The over/under for the USA is set at 43.5.

What Olympic sports can you bet on?

If medal counts aren’t your thing, then you can bet on individual Olympic events instead.

Betting on the Olympics might be new in Indiana, but there are still plenty of options for Hoosiers to pick from. Hoosiers can wager on 17 different sports at the Tokyo Olympics:

  • Baseball
  • Basketball
  • Basketball 3v3
  • Golf
  • Handball
  • Rugby
  • Soccer
  • Softball
  • Swimming
  • Table Tennis
  • Tennis
  • Track and Field Events
  • Volleyball (includes Beach Volleyball)
  • Water Polo
  • Field Hockey
  • BMX Racing
  • Fencing
  • Rowing
  • Badminton
  • Boxing
  • Diving
  • Modern Pentathlon
  • Triathlon
  • Weightlifting

That list only has 24 of the 33 Summer Olympics sports because of a judging problem.

Judging is subject, so sportsbooks won’t take bets on events that rely on it. That puts sports like gymnastics out of bounds for Indiana gamblers

FanDuel USA Gold Medal Bonus

FandDuel’s new promotion is giving out tons of bonus credit for Olympic bettors.

All you have to do to qualify for the deal is bet at least $100 on the Olympics before they start. Once you do, FanDuel will give you an extra $1 in site credit for every gold medal that the USA wins in Tokyo.

You can win up to $50 worth of site credit, which is a great way to earn to some free cash at FanDuel. It would be a shock if the US didn’t win at least a few dozen gold medals.

Of course, you’ll have to sign up for FanDuel to use this promotion. Be sure to opt-in to the deal under the “Promotions” section of the website or app.

USA Women’s soccer odds boost

DraftKings also has a brand-new promotion out there for USA Soccer.

USA Women’s Soccer has won three of the last four Olympic gold medals, and now the team is hunting for one more.

Megan Rapinoe and company are already the favorites to win gold this year, and DraftKings is looking to make the most of this year’s action.

The sportsbook is boosting USA’s odds to win gold from -165 to +165.

Considering that Netherlands has the second-best odds at +600, the USA boost is a fantastic deal. If you were planning to bet on Olympic soccer, then this is a can’t-miss promotion.

There is a $25 max bet for the deal, and you’ll have to opt-in under the “Promos” section of DraftKings.

Sportsbooks will release more promotions closer to the games, so be sure to check back in with your favorite operator for the full list of options.

Photo by Associated Press
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Written by
Jake Garza

Jake Garza is a US Gambling Industry Analyst for Catena Media. He specializes in Midwest sports betting and casino content. Prior to covering the legal gambling industry, he spent time as a professional sports writer, reporting on teams such as the Cincinnati Bengals, Indianapolis Colts and Indiana Pacers. Garza is currently working as a Managing Editor for PlayIndiana and PlayOhio, with previous stops at other well-known brands such as PlayIllinois and PlayMichigan. He has been covering the gambling industry since 2019, and currently works with a team of other journalists to provide comprehensive coverage of the legal U.S. gambling industry.

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