A few key reasons
Despite the massive interest that the 2024 Summer Olympics will generate, gambing industry experts aren’t expecting a major uptick in betting handle for US sportsbooks during the games in Paris.
a lot of the sports are quite obscure
One big reason for this mentioned by industry insiders is that a lot of the sports are quite obscure, so bettors don’t really understand them. Other issues are the time zone differences and many popular events taking place simultaneously.
Looking at the data
Talking to ESPN, Boston University Clinical Associate Professor Jay Zagorsky said that people don’t bet big sums on sports they don’t know even if they find them interesting to watch on television. He looked at more than 40 years of Olympics wagering data from the UK and Nevada to come to this conclusion.
taking in much more handle on Team USA basketball wagers than any other event
The expectation is that the largest handles by some distance for any of the events in this summer’s Olympics will be basketball. Some of the biggest names in the NBA are battling it out for glory, including LeBron James and Steph Curry. BetMGM and DraftKings already reported taking in much more handle on Team USA basketball wagers than any other event at the Games.
Other sports that will attract some interest include the soccer, tennis, and golf events as they feature some high-profile athletes.
Still plenty of support
Despite the lack of optimism about a big uptick, sportsbooks expect much more activity than the 2021 Tokyo Olympics. Caesars Sportsbook estimates that its handle will be ten times more than in the previous games.
One reason is that another 15 states have legalized sports betting since the last games, including big markets like Florida and New York. The time zones are also a bit more manageable this time around.
Operators are still providing extensive markets for the events and running promotions to try to attract more bettors in a period that is typically quiet as no NBA, NHL, or NFL games are taking place.