Tokyo Olympics Betting: USA Hot Favorites for Most Medals, Betting Line Set at 111.5

Tokyo Olympics Betting Odds

The 2020 Olympics, a full year later than scheduled, officially opened on Friday, July 23. It remained doubtful right up until the 11th hour and you could still find betting markets on a cancellation an hour before the opening ceremony got underway.

The Flame Is Burning Bright on Green Light Olympics

We didn’t get a green-light last year but we do now have a bright flame burning above the Japan National Stadium. That means the first of the 339 gold medals amongst 33 sports will be handed out from Saturday onwards.

Archery, Taekwondo, Judo and Fencing are amongst the first sports to be decided over the 17-day games. They could hardly be described as US strongholds. Swimming has traditionally been kind to America and with 35 medal events, the US medal tally should start to rack-up from the middle of week 1.

Olympics Betting at BetOnline

BetOnline are really getting into the spirit of the games with a wide range of Olympics betting markets which they have divided up into an A-to-Z of Olympic sports covering everything from Archery to Weightlifting (full list below). They are also running a free-to-enter Olympics slots tournament up to July 26 where you could win a share of a huge $100,000 prize pool.

As a new customers at BetOnline you can claim a welcome bonus of up to $1,000 to get you started. When you make your first deposit at, you’ll get a 50% bonus added to your sports betting bankroll. Simply enter the coupon code BOL1000 when making your first deposit, and your 50% bonus will be applied to your account instantly. *See below for welcome offer terms and conditions.

BetOnline Olympics Betting Bonus

List of Olympic sports available for betting on BetOnline

USA Clear Favorites for Most Medals

But what are the expectations and the odds of the USA winning the most golds and medals of any color. The latest US betting odds show it is -800 about us collecting the most golds. It is an even shorter -900 about us collecting the most medals overall. With more than 610 athletes Team USA have some outstanding chances in countless sports.

China are the closest rivals. They are trading at around +720 in the ‘most golds’ betting market and +850 for most medals. Obviously China has some outstanding medal prospects too, but numerically they only have 430 representatives. Unlike the USA, who can expect some great success on the track & field, the bulk of China’s medals are sure to come in table tennis, weightlifting and diving.

The betting line on the total Chinese medal count is 85.5 and the USA’s total medal line is 111.5. The projected US gold medal haul is 43.5 and you can bet -120 odds higher or lower.

Olympic Golf Will Be Popular

It is quite possible the golf competition will be the biggest Olympics betting event of the games. The USA fields four players who are all in the current top-six of the world rankings, they are:

Collin Morikawa is the shortest of those in the four-round competition. He can be backed at betting odds of +700 with BetOnline.

Morikawa is the overall favorite with the online sportsbooks, followed by Xander Schauffele at +900, Justin Thomas at +1000, Rory McIlroy at +1100 and Hideki Matsuyama at +1200. The full list of Olympics golf odds are available on the BetOnline website.

US Men Should Dominate The Track

Athletics remains the showpiece sport at the Olympic Games aswell one of the most popular Olympic betting events – and as usual the USA looks particularly strong on the track.

USA Olympics Betting Odds

Trayvon Bromell, unbeaten in 2021 and the world’s fastest sprinter this year is the +110 favorite in the Men’s 100-metres. He could get a second gold in the 4×100 relay where Noah Lyles would be his teammate. Lyles is -150 odds-on favorite to win the 200-meters.

Another with genuine prospects of winning more than one gold for the USA is Michael Norman. He is -110 to take gold in the 400-metres and will be the kingpin of the USA’s 4×400-metre squad.

* Tokyo Olympics betting odds correct at the time of writing. All Olympics odds subject to changes.

Thomas Nielsen

A former computer programmer and a bit of a sports-data nerd, Tom covers UFC, NFL and MLB. When he's not writing about sports, he's usually playing poker or playing video-games.