Updated Updated: 2024

Olympics Betting Odds and Guide – Tokyo 2020

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Betting on Olympics 2020 | Guide

Competing Athletes now have their eyes firmly fixed on the Tokyo 2020 Summer Olympics. 

  • Start date: 23rd July 2024
  • End date: 8th August 2024

This year, there are notable changes to the event’s structure. With equality and diversity as overriding themes of the games, there are about 18 mixed or open events where both women and men will compete as equals.

New Events

The Olympics 2020 ushers in fascinating pioneer events like skateboarding, surfing, Wrestling, karate, sport climbing, and baseball/softball. For betting fans globally, this means more betting opportunities and lots of potential value bets.

This event is held just once every four years and the greatest achievement is standing on the podium to receive an Olympic medal. Athletes always build their season around the Olympics to remain at the peak of their abilities. 

Betting Markets

What markets are available when betting on the Olympics? The numerous sports that take place at the Olympics is the reason for excitement. The obvious betting opportunities can be found in the total medals market as well as track and field events. Often, punters bet on outright winners for events like the 100-metre sprint, but there are other events 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 Betting Odds 

With the Olympics set to commence between July 23rd and August 8, 2024, bookies have begun to offer odds on the popular events. Overall Medal predictions are not left out either amongst the numerous betting opportunities in place for you to grasp. After taking detailed scrutiny of betting odds released, we’ve picked out the favourites and best bets which have high chances at the Tokyo 2020 Olympics. 

Below odds come from Skybet – sign up to get boosted odds for all Olympic events.

Athletics – Betting Tips

Athletics mainly consists of Track and Field Events and has occupied a prominent position for years in the betting odds. Notable amongst Athletic events are the 100 and 200-metre sprints which not only draw lots of fans to the stadium but many people across the world tune in on their televisions to watch the fastest men and women in the world. 

Men’s 100m – Tokyo 2020 Outright Winner

Trayvon Bromell is the outright favourite to win the Men’s 100 metres at 1/1 odds on Skybet. Akani Simbine is most likely the man to steal his limelight with 10/3 odds on Skybet.

Women’s 100m – Tokyo 2020 Outright winner

The favourite winner for the gold medal on the Women’s 100 metres is Shelly-Ann Fraser-Pryce at 1/1 odds on Skybet. Set to contend with her for the grand medal is Elaine Thompson-Herah with 6/4 odds on Paddy Power.

Men’s 200m – Tokyo 2020 Outright Winner

For the Men’s 200m, Noah Lyles from the USA is the favourite to win the gold medal with odds of 8/11 on Skybet. A notable contender for this title is Andre De Grasse from Canada with odds 10/3 on Skybet too.

Women’s 200m – Tokyo 2020 Outright Winner

Gabby Thomas is the favourite to win the Women’s 200-metre race with odds 6/4 on Skybet. And closely contending for the title with her is Dina Asher-Smith with 5/1 odds on Skybet.

Mixed 4 x 100m Medley Relay – Tokyo 2020 Outright Winner

The United States of America stands the highest chances here with odds 8/13 on Paddypower. China follows with 5/2 odds looking to steal the prize from the Americans. 

Tennis – Betting Tips

Tennis in the Olympics has seen some exceptional performances from players in the past. Some known names like Serena Williams and the new dawn Naomi Osaka have proven consistency worthy of emulation. Novak Djokovic has also proven himself in the men’s category. Let’s dive right into betting odds to see what the Tokyo 2020 Olympics hold in place:

Men’s Tennis – Tokyo 2020 Outright Winner

The popular Novac Djokovic is the favourite choice here with odds 8/13 on Skybet. Looking to steal the limelight from him is Daniil Medvedev with odds 9/2 on Skybets too.

Women’s Tennis – Tokyo 2020 Outright Winner

The Japanese Naomi Osaka is the most promising winner here with favourable odds of 3/1 on Skybet. She is closely trailed by Ashleigh Barty with odds 4/1 on Skybet too. 

Men’s Tennis Doubles – Tokyo 2020 Outright Winners

Metic and Pavic is the duo set for the win on the Men’s Tennis doubles in the Tokyo 2020 Olympics with odds 5/2. The duo looking to steal these rounds are Cabal and Farah with odds 11/2 on Skybets. 

Women’s Tennis Doubles –  Tokyo 2020 Outright Winners

The duo with the highest winning chances here is Krejcikova and Siniakova with odds 5/2. And the contending team is the Barty and Sanders Australian duo with odds 6/1. 

Table Tennis – Betting Tips

China has demonstrated unmatched dexterity in proving herself as the origin of the ping pong game. With over 53 medals won already in the Olympics, this country is looking to come back for more. The Betting odds for the Tokyo 2020 Olympics in Men and Women’s category are provided below:

Men’s Individual Table Tennis – Tokyo 2020 Outright Winner

Fan Zhendong from China is the favourite to win the Men’s Individual table tennis game with odds ⅘ on Skybet. Ma Long who is also from China closely follows with odds of 11/8 on Skybet. The Japanese Tomokazu Harimoto looks promising too with odds 10/1 on Skybet.

Women’s Individual Table Tennis – Tokyo 2020 Outright Winner

Chen Meng from China is the most promising table tennis player to go home with the grand prize. With 4/7 odds on Skybet, she is closely trailed by Sun Yingsha with 6/4 odds. Both athletes and Chinese and China once again looks to retain its title as the best. 

Men’s Team Table Tennis – Tokyo 2020 Outright Winners

From the Individual odds, the team odds are quite predictable. China is the favourite to win the team rounds with odds 1/16 on Skybet. Japan follows to steal the team rounds with odds 12/1 on Skybet too. 

Women’s Team Table Tennis – Tokyo 2020 Outright Winners

For the women’s team table tennis, China has the most odds with 1/20 on Skybet while Japan follows closely with 8/1 odds on PaddyPower. 

Swimming – Betting Tips

Swimming is one of the sports at the Olympics that presents lots of opportunities to Punters. In the Rio Olympics, Adam Peaty gave the UK a resounding win by breaking a world record with the breaststroke. The Youngster is set to do the same in Tokyo 2020 and probably break his record once more. With Australia and America dominating swimming in previous years. Many are curious about what the 2020 Tokyo Olympics hold. Available betting odds for both men and women swimming categories are listed below.

Men’s 100m Breaststroke – Tokyo 2020 Outright Winner

The top choice to win this event is the renowned Adam Peaty from the UK with 1/10 odds on Skybet. Closely contending to steal the limelight from him is Arno Kamminga from the Netherlands with 9/1 odds on Skybet. 

Women’s 100m Breaskstroke – Tokyo 2020 Outright Winner

Lily King from the USA stands the highest chance here with odds 8/13 on Skybets. Lydia Jacoby who is also from the USA follows closely to claim the gold medal with odds 7/2 on Skybets.

Men’s 100m Backstroke – Tokyo 2020 Outright Winner

Evgeny Rylov stands the highest chance in this category with odds 2/1 on Skybet. Looking to steal the limelight is Kliment Koleshinov with an equal 2/1 odds on Skybet. 

Women’s 100m Backstroke – Tokyo 2020 Outright Winner

Kaylee McKeown has the highest chances to take the gold medal here with odds 8/13 on Skybet. Kylie Massie and Regan Smith seek to steal the limelight with odds 3/1. 

Men’s 4 x 100 Medley Relay – Tokyo 2020 Outright Winner

The USA have the lead here with odds 1/2 on Skybet and the UK follows with odds 7/2 on Skybet too.

Women’s 4 x 100 Medley Relay – Tokyo 2020 Outright Winner

The United States of America also retains the highest winning chances here with odds 4/6 on Skybet. Australia also looks to contend with odds 6/5 on Skybets. 

The UK At The Olympics

SmartphoneGambler 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 

PaddyPower 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 1/40 odds. China is second with 17/2 odds and the Russian Olympic Committee are third favourites at 18/1 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 – 1/40
  2. China – 17/2
  3. Russian Olympic Committee – 18/1
  4. Japan – 25/1
  5. UK – 40/1
  6. Australia – 40/1
  7. Hungary – 500/1
  8. Ireland – 500/1
  9. South Korea – 500/1
  10. Netherlands – 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.