Summer Olympics to attract 20 million American punters

Posted on: Jul 21, 2021, 2:02 a.m.

Last update on: July 21, 2021, 2:47 a.m.

The Summer Olympics are officially scheduled to take place from July 23 to August 8. The American Gaming Association (AGA) has said about 20 million Americans will bet on the games, some on the possibility of cancellation.

Olympics odds count towards US medals
Not everyone in Japan is as excited as this person about the upcoming Summer Olympics. Some 20 million Americans are expected to bet on the international sports spectacle. (Photo: AFP)

The AGA, DC’s leading lobbying firm working on behalf of gaming interests, hired Morning Consult to survey U.S. residents on their betting activities around the Tokyo Olympics. Of a sample of 2,200 adults, eight percent said they plan to bet financially on a sport.

With the latest census information claiming that there are approximately 252 million adults in the United States, which equates to 20.1 million Americans who are likely to bet on the Summer Olympics. Of those who are considering betting, 45% say they will make at least one bet on basketball. Thirty-four percent plan to play soccer, 28 percent in gymnastics, and 27 percent in athletics and swimming.

More than one in two American adults responded that they were interested in watching the Tokyo Olympics. A quarter said they were “very interested”.

Of those who bet, 47% say they will do it casually with friends. Forty-three percent plan to bet online and 16 percent plan to bet with a physical bookmaker. Another 13 percent will facilitate their participation through an illegal bookmaker.

Cancellation ratings

Japan, and in particular Tokyo, is facing an increase in the number of new cases of COVID-19. The delta variant, a more contagious strain of the coronavirus, is wreaking havoc in the Asian nation.

This led to many people in the capital and across the country asking Prime Minister Yoshihide Suga to cancel the games. The possible last minute decision is gaining popularity among sports bettors.

Sports betting last week had a chance that the 2021 Summer Olympics would be canceled at around +9,000. Those long odds, which imply a 1.1% chance, have since been drastically reduced following a cash rush on the line.

The odds are now around +1000 – an implied nine percent chance. A bet of $ 100 and the boxed Olympics would still net $ 1,000.

Toshiro Muto, head of the Tokyo Olympic Organizing Committee, said yesterday that the Summer Games could still be canceled due to COVID-19.

We cannot predict what will happen with the number of coronavirus cases ”, Muto explained. “So we will continue discussions if there is a spike in cases.

“We have agreed that, based on the coronavirus situation, we will reconvene talks. At this point, coronavirus cases may go up or down, so we’ll think about what to do when the situation arises, ”Muto added.

Gold USA Odds

Bettors think the United States wins the most Olympic medals is as safe a bet as it gets.

Chances are as low as 1/12 that Team USA will leave Tokyo with the most gear. On these odds, to win $ 100, a bettor must bet $ 1,200.

The US women’s football team, however, favorite +110 to win gold, lost their Olympic opener today 3-0 to Sweden. The women’s club were undefeated in their previous 44 matches.

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