Team USA, bettors try to strike gold at Tokyo Olympics
Olympic icons Michael Phelps and Usain Bolt have retired, and Simone Biles won’t be on the betting board for the Tokyo Games.
But there’s a wide array of other wagering options on the Summer Olympics at Las Vegas sportsbooks.
The United States is a prohibitive -1,000 favorite at the Westgate sportsbook to win the most gold medals, meaning bettors must wager $1,000 to win $100, or $100 to win $10, on the Americans.
China is the 6-1 second choice, Japan is 25-1 and every other country is 200-1 or higher to garner the most golds.
The over-under total for gold medals won by the U.S. is 45½ at the Westgate, which took sharp money on the under.
“I was surprised. Personally, I wanted to go a little higher,” said Westgate risk supervisor Joe Tatka, who compiled the book’s extensive Olympic wagering menu. “The last two (Summer Games), USA was right at the 46 gold medal mark, and there are gold medals that weren’t there in the past or weren’t likely to be won that skew in favor of the U.S.”
For example, women’s softball is back for the first time since 2008, and the Americans are -250 favorites to win gold. The U.S. also is a +110 favorite to win the inaugural women’s 3-on-3 basketball gold medal.
Bolt’s absence from track and field opens the door for Americans in the sprints, where Trayvon Bromell is the +150 favorite in the 100-meter dash and Noah Lyles is the -120 favorite in the 200-meter dash.
With Phelps gone from the pool, Caeleb Dressel is one of the new faces of the U.S. Olympic swim team. Dressel is the -900 favorite to win the men’s 50-meter freestyle gold medal and the -150 favorite to win the 100-meter freestyle gold.
The U.S. women’s gymnastics team, led by Biles, is considered a heavy favorite to claim its third consecutive Olympic title. But wagering on gymnastics isn’t offered at Las Vegas books.
“Unfortunately, gymnastics is a voted-on event so we don’t put it up,” Tatka said. “It would be nice to be able to bet on them. I know a lot of people would like to bet on Team USA to win the gold and on how many golds Simone Biles will get.”
Men’s basketball is one of the most popular Olympic futures markets, and the Americans remain -500 favorites to win their fourth straight gold medal despite losing their first two exhibition games to Nigeria and Australia.
Nigeria was a 1,000-1 long shot at the Westgate to win the men’s basketball gold medal before it stunned Team USA 90-87 on July 10 at Michelob Ultra Arena as a 28½-point underdog.
“Nigeria started at 1,000-1 before the USA game, was down to 500-1 at halftime and by the end of the game was at 200-1,” Tatka said. “Now they’re down to 50-1. People like to bet what they see, and it beat Team USA.”
Australia, which upset the Americans 91-83 as a 13½-point underdog, is tied with Spain as the 10-1 second choice to win gold.
“If Team USA falters, Spain is the most likely team to take it and run with it,” Tatka said.
The Westgate took sharp bets on Spain and Slovenia, a 20-1 long shot led by Dallas Mavericks star Luka Doncic.
The U.S. is an overwhelming -1,200 favorite to win gold in women’s basketball, where Australia is the 12-1 second choice.
The Americans are -225 favorites to win the women’s soccer gold medal after the line opened at -150. The U.S. lost to Sweden in the quarterfinals of the 2016 Rio Games to end its streak of three straight gold medals.
“It doesn’t matter if it’s a kid or a sharp, they’re pounding that one,” Tatka said. “They like the USA to win women’s soccer. The last time, they didn’t medal. I can see them pulling out all the stops to win this one.
“That’s one of the medals the USA likes to show and say that we are the best in women’s soccer.”
Contact reporter Todd Dewey at tdewey@reviewjournal.com. Follow @tdewey33 on Twitter.