Kicking things off with a disclaimer – none of the following constitutes a recommendation or endorsement. How you bet on the upcoming Olympic Games is entirely up to you – these are simply the strategies many punters prefer! 

One of the biggest problems with the whole debate on betting strategies is the fact that they all have one thing in common:

There’s no such thing as a betting strategy that works every time.

If there was a way of successfully predicting the outcome of even a single sporting event, we’d all be rich. You’d simply have to place a couple of sizeable bets from time to time, collect your winnings and chuckle all the way to the bank.

As it stands, sure things simply aren’t a thing in the world of sports betting. If they were, bookies would be run out of business in a matter of hours.

This is the first and most important thing anyone needs to know, if planning on placing bets on the summer Olympic Games.

Entertainment to Embrace and Enjoy

Sports betting is primarily about fun and games…period. It’s exactly the same with all types of casino gaming, which is supposed to be enjoyed purely with entertainment in mind.

Making the most of events like the summer Olympic Games is primarily about getting into the right mindset. If you genuinely believe you’ll come out the other side with a small fortune in winnings, you’re on a slippery slope.

Still, it’s fair to say that at least 99.99% of gamblers place bets firmly in belief they’ll win. It’s rare for someone to spend money on a wager knowing they’re going to lose, for obvious reasons.

Even so, there are some hugely popular betting strategies that almost guarantee losses. So once again, the following are not to be interpreted as recommendations – they’re simply four of the most popular betting strategies for events like the Olympic Games:

Strategy 1 – Back the Favourites

First up, this is the most obvious strategy of all and (arguably) the most sensible. It’s also the easiest, as you don’t have to conduct any of your own research whatsoever. You simply check out what’s happening at the bookies, place your bets on the favourites in any given event and await the outcome.

Bookies are usually fairly savvy when it comes to knowing who’s most likely to win. Odds-on favourites are selected on the basis of numerous factors, and are indeed statistically most likely to win. And so are you, if you place your bets on the outright favourites.

On the downside, this also means significantly smaller wins if things turn out in your favour. In addition, backing the favourites can lead to a false sense of security, resulting in betting more than you can realistically afford to. A dangerous strategy, given that there is no such thing as a certain outcome – irrespective of the odds.

Strategy 2 – Back the Underdog

Conversely, you could always take the opposite approach and back those with almost no chance of winning. Nonsensical to some, but the preferred strategy for many.

The appeal of backing the underdog is actually easy to understand. For one thing, there’s something inherently satisfying about backing someone who doesn’t stand a chance. Far more so than only following those who win so often that it all becomes quite dull.

Secondly, odds of 1,000-to-1 (or more) open the door to epic prizes, in the event of a major upset. Even if you placed a mere £20 on the line, you could be walking away with more cash than you’ll know what to do with.

Though in all likelihood, you’ll get away with nothing – shy of the satisfaction of supporting a rank outsider. 

Strategy 3 – Betting on the Overall Outcome  

If looking for a way to spend as little as possible and still make the entire event more exciting, this is it. Betting on the overall outcome is something you can do in a variety of ways.

You can choose which countries you think will finish in which positions on the medal table, guess how many gold and silver medals (individually or collectively) individual athletes will pick up and so on.

This can be an enjoyable strategy as you place your bets early on and watch the action unfold from start to finish.  It can also be a good way of gaining access to some pretty decent odds, as accurately guessing specific medal numbers isn’t easy. 

Certain countries are far more likely to top the table than others, but knowing who will collect exactly how many medals is a different matter entirely.

Strategy 4 – Betting on Goals, Points and Times 

Last up, bookies never fail to get creative when it comes to major events like these. Depending on who you sign up with, you may be able to place bets on how many goals will be scored, how many points a team may pick up or even the winning times of certain races.

With sports betting in general, wagers placed on highly specific outcomes mean bigger prizes if you get it right. But at the same time, the likelihood of predicting such outcomes accurately is relatively low. 

It’s therefore a strategy to approach with relatively modest wagers in mind, if it’s your preferred option. 

Finding a Decent Bookie to Begin with…

Rounding things off, the importance of setting yourself up with a good online bookmaker cannot be overstated. This means conducting a series of checks into things like welcome bonuses, licensing and regulation, betting markets covered, odds and margins, payment methods accepted, deposit and withdrawal policies, customer service provision and so on.

With hundreds of UK and international bookmakers all covering the Olympics, there’s no shortage of options to choose from. Shop around to find a bookie that suits your betting style, playing the field to take advantage of as many welcome bonuses as you like. 

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