Since the rise of online sports gambling, punters have been searching for new ways to bet on a wider variety of sporting events. So why not one of the oldest sporting events in the history of mankind? This year's Summer Olympics from beautiful Rio, Brazil will be the highest wagered-upon Olympics of all time and punters from all corners of the globe will have reason to bet on the games.
At the 2012 Olympics in London, it was the first Olympic Games that seriously boosted online gambling profits around the world. In London, Sportsbooks like bet365, Ladbrokes and William Hill saw increased profits shoot from around $5 million to around $80 million pounds in just four years. The London Olympics were the first time that live in-play betting was offered on individual and team events. This became instantly popular and today the big brands are offering the longest lists of Olympic gambling odds of all time.
Brazil to Miss out on Gambling Profits
You would think that the host country that has come under fire for the relatively high levels of poverty would look to approve sports gambling legislation prior to the main event, but that is not the case for Brazil. The hosts of the 2016 Olympics were not fast enough in approving their newly proposed online gambling legislation, which means no sportsbook located in Brazil, nor people at the games can legally bet on the events.
That is exactly the opposite than in most other countries that are avid supporters and understand what the tax income can do to improve their countries. Online sports gambling may not be legal in anywhere close to all fifty US states, but Nevada, New Jersey and Delaware are preparing for two of the heaviest weeks they will have ever seen.
Olympics gambling on a whole will set completely new records since its humble beginnings in Beijing, eight years ago. Pre-Olympic odds are already posted for some of the biggest events and with the live in-play interactive gambling options available, even a full marathon will become quite interesting.
There will be over 10,000 athletes from 206 different nations with Olympic representation, competing in dozens of events from August 5th until the 21st, which means thousands of chances to win very lucrative cash as the game's progress. The entire soccer and basketball games will be refreshing now that league play and the Euro are complete.
Olympic betting will be new for millions of punters, but will undoubtedly challenge ones true skill, with a little help from lady luck once in awhile.