The Olympics have always been an event that has created a lot of excitement and anticipation. So far, the London and Rio Olympics, held in 2012 and 2016 respectively, have been touted as the best ever Olympics.
However, the expectation is that Tokyo 2020 is going to outshine them all. Of course, bettors are also eagerly anticipating the event, since it gives them so many opportunities to make bets and win big!
In the past, sports betting has not been too focused on the Olympics. However, thanks to the growth of the online sports betting market, bookmakers are now offering odds on pretty much everything related to the competitions in the Tokyo 2020 Olympics.
At this point, betting markets for Tokyo 2020 are quite limited, since the teams that will be competing in the events have not yet been announced, and the fact that there is almost a year still to go before the event kicks off.
What to Expect in the Betting Markets for Tokyo 2020?
As the Tokyo Olympics draw closer, you can expect more betting markets to open up. You will be able to make wagers on who will win medals as well as odds on particular events.
The Men’s 100m event is already open for bets, despite the fact that the list of runners is still not finalized. Having said that, one of the first items that is expected open for betting will be the Medals Table.
Other betting categories will include the Most Gold, Silver and Bronze Medals won, the most medals in various sports such as Cycling, Athletics, Boxing, Swimming, Gymnastics, etc. Bets will even be placed on specific athletes in this event.
Tokyo 2020 is expected to feature 5 sports that will enter the Olympic roster for the very first time. You will get to see the world’s top athletes compete in surfing, skateboarding, sport climbing, baseball/softball, and karate. So, these may also be open for betting as we draw closer to the event.
How are Bettors Preparing for the Tokyo 2020 Betting Market?
While it is still quite early to hand out tips or even predictions, serious bettors across the world are already following athlete performances, especially those that did well in the Rio 2016 Olympics.
Of all the events in the Olympics, the Track and Field events are the ones that bookmakers such as Bet365 are expecting heaviest bets on.
What to Expect from the Participating Countries?
In the Tokyo 2020 games, there will be a total of 339 Gold medals up for grabs. Over 11,000 athletes from 206 different countries are expected to participate in the Games, including North Korea.
Russia, one of the majors, is currently at risk of being banned from the Tokyo Olympics because the World Anti-Doping Agency has questioned the inconsistencies in data coming out of its Moscow laboratories, where certain positive drug tests have been deleted from the database. The Agency has given the Russian Federation 3 weeks to explain these alarming results.
You can also expect the Tokyo 2020 Refugee Team to be even bigger than in the Rio 2016 Olympics. The International Olympic Committee has revealed that there are 37 refugees so far who have received scholarships and are competing to appear in the 2020 Games. Thomas Bach, the IOC President states that at this time, they do not know how big the final Refugee team will be, but all 37 candidates are focusing hard on making it to the Olympics.
Medal Predictions
According to The Guardian, Gracenote Sports, the top statistical analysis firm for sports leagues across the world, released its Tokyo 2020 predictions earlier this year about what the medal tally should look like in these Games.
The analytics company’s data is based on current performances of athletes, and based on this data, the USA is expected to win the most medals. Simon Gleave, the sports analysis head of Gracenote states that the US is expected to win as many as 126 medals, divided into 51 Gold, 34 Silver, and 41 Bronze medals.
China is expected to come in second in the medal tally, with a predicted 81 medals, of which 38 should be Gold. Host nation Japan is forecast to be third, with a total of 67 medals in all, of which 29 will be Gold medals.
This is the fifth time that Gracenote has made predictions about the medal tally in the Olympic Games, and so far, the firm has been pretty accurate in its forecast.
Conclusion
The Tokyo 2020 Olympics is shaping up to be a massive event, and people are expecting to be wowed by it. From crazy technological innovations such as autonomous taxis, robot assistants and devices to help you crunch odds, to a focus on sustainability, this event is slated to be the biggest and most extravagant Olympics ever.
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