Betting Big on the Olympics

The Summer Olympics are starting in just a few days, and regular sports bettors are getting ready to place their wagers. This year's Games promises to be an exciting event, and not just for the wagering; from the American ‘Redeem Team' basketball favorites, to the rain-seeding Chinese cannons, there'll be something for everyone.

If you're looking to place bets on the Games, in any fashion, you'll find that it's easy enough.  All of the major online sports betting sites have dedicated Olympic sections, and have subdivided their categories to satisfy anyone interested in placing a bet. There may be only 50 ways to leave your lover, but there were 300 ways to bet on the last Super Bowl; there will be at least as many ways to bet on the Summer Olympics.

You'll be able to place bets by category (Do you like to follow track and field? Swimming? Football?), by individual event (Maybe you want to predict the point spread on the gold medal baseball game?), by individual athlete (How many boards will Kobe grab? Will 42 year old, new mom Dara Torres win the 50 meter freestyle?), or even just by country (Will the US take home the most gold?). Betting categories are clearly marked, and well organized, making the wagering decisions easier.

As with any financial decision, however, make sure to do your homework before you do any Olympic wagering. The games are large, and are full of sports, events, and athletes that you may never have heard of before; someone might perform well in a qualifying heat, but only because better rivals are scheduled for a different race. Also, some bets are just not good ones; don't bother wagering on the American basketball team because the odds are too high in their favor to permit any return. Instead, put your money on the silver medal games.

The best strategy for wagering on the Olympics is to pick a sport, event, or athlete that you know something about, and to bet strategically on those few outcomes. As for the rest of the Games, just sit back and watch some world class competition.