The 2022 Winter Olympics begin on Friday in Beijing, which is when the opening ceremonies will take place. And yes, it is possible to bet on the Olympics at online sportsbooks in Illinois.
This is not the first Olympics in which legal betting is allowed in Illinois. The summer games took place this past summer in Tokyo, and the quick turnaround was due to COVID-19 cancellations in 2020.
You can watch the Olympics on NBC, Peacock and other NBC digital platforms. Let’s take a look at the betting possibilities for the winter games.
2022 Winter Olympics betting options
Currently, DraftKings in Illinois has the most extensive list of Olympic betting markets.
Here are some of the events that you can wager on in Illinois. For many of these events, there are more subcategories than are listed below:
- Alpine skiing (Women & Men)
- Biathalon (Women & Men)
- Figure skating (Women & Men)
- Freestyle skiing (Women & Men)
- Ice hockey (Women & Men)
- Luge doubles (Men)
- Luge team relay
- Short track team speed skating (Women & Men)
- Skeleton (Women & Men)
- Snowboarding (Women & Men)
- Speed skating (Women & Men)
USA women favored in ice hockey
Hockey is one of the main events for the winter games, and the USA women’s team is the favorite to take home the gold.
The US won the gold medal in 2018, topping Canada, which beat out the US in 2014.
Here are the current odds to win the gold medal at DraftKings:
- USA: -115
- Canada: -105
- Finland: +1,400
- Russia: +3,500
- Japan: +5,000
- Czech Republic: +5,000
- Sweden: +5,000
- Switzerland: +5,000
- Denmark: +10,000
- China: +30,000
Based on these odds, it would be quite surprising if USA and Canada didn’t meet up in the gold medal game once again.
As for the mens’ side, Team USA’s prospects aren’t as bright. Here are the full odds at DK:
- Russia: +150
- Finland: +450
- Sweden: +550
- Canada: +700
- Czech Republic: +900
- Switzerland: +1,400
- USA: +1,600
- Germany: +2,000
- Slovakia: +5,000
- Denmark: +10,000
- Latvia: +10,000
- China: +70,000
The winter games will conclude on Sunday, Feb. 20.
How much of a dent will Olympic betting make?
It’s no secret that Olympic interest is declining. TV ratings for the Tokyo Olympics were at an all-time low this past summer, and the summer games typically attract more interest than the winter games.
Still, millions of people tune in for the Olympics, and now it’s possible to have action on various events.
As previously mentioned, it was possible to bet on the Tokyo Olympics in Illinois. The games took place over the end of July and the beginning of August.
Unfortunately, Illinois does not give specific betting splits for the Olympics. But in examining the July and August revenue reports, there doesn’t appear to be an obvious bump from Olympic betting. Look at some of the apps, and it can even be hard to find Olympic markets.
It will also be competing with the NBA, college basketball and oh, yeah, the Super Bowl. At any rate, there is no shortage of betting options for the Olympic fans out there.