Paris Games Begin: How to bet on 2024 Summer Olympics

The Paris Games officially begin today with the opening ceremony set for 1:30 p.m. ET on NBC.

Are you new to betting on the Olympics? No worries, we've got you covered with this primer on how to legally bet on the 2024 Summer Olympics at top-rated sportsbooks in the US.

Team USA is predicted to win the most gold medals and overall medals in Paris. You can bet on that and so much more during the 2024 Summer Olympics.

How do 2024 Summer Olympics odds work?

Caesars Sportsbook is among the best sports betting apps dealing odds on the 2024 Summer Olympics. Let's say you're a big fan of the USWNT and want to bet on women's soccer. Here are futures odds on top women's soccer teams to win the gold medal in Paris.

• USA +160
• Spain +175
• France +400
• Germany +1100
• Japan +1600
• Canada +1600

The US is the betting favorite to win gold at +160. At those odds, a $100 bet on the USA would return a payout of $260 ($160 in winnings and your $100 stake back) if the Americans win the gold medal.

OVER/UNDER betting markets for the 2024 Summer Olympics at BetMGM

We mentioned that the US is favored to win the most gold medals in Paris, and you can also bet on that at top-rated sportsbooks, including BetMGM.

Here's how those odds work at BetMGM.

• OVER 39.5 gold medals -115
• UNDER 39.5 gold medals -115

The US needs to win a minimum of 40 gold medals for the OVER bet to win. A $115 bet returns $100 in winnings (and your bet stake back) if that happens.

UNDER bettors need a maximum of 39 US gold medals to win their bet. The money and odds work the same with -115 on both sides of the wager.

You can also bet on different countries to win the most gold medals and overall medals during the Summer Olympics.

What are Team USA's strongest sports in the Summer Olympics?

Team USA is favored to win gold in several sports during the 2024 Summer Olympics. Here are some of those sports with odds from Bet365.

• Men's basketball -625
• Women's basketball -1400
• Women's soccer +160
• Men's golf: Scottie Scheffler +400
• Women's golf: Nelly Korda +500
• Women's 100m sprint: Sha'Carri Richardson -167
• Women's swimming 800m freestyle: Katie Ledecky -400

This is just a sampling, of course, and Simone Biles is expected to win multiple gold medals in women's gymnastics, but those odds have yet to be posted at top-rated sportsbooks. Stay tuned for those odds next week!

FAQ: Betting on the Olympics

Here are frequently asked questions when it comes to betting on the Summer Olympics.

How can I bet on the Olympics?

Use our promo codes near the top of this article to register new accounts at top-rated US sportsbooks. All of them offer competitive odds on the Olympics, as well as generous welcome offers to new customers.

Is it legal to bet on the Olympics?

It is legal to bet on the Olympics in states that have legalized sports betting. As of today, 38 states (along with Washington DC and Puerto Rico) offer some type of legal sports betting.

Legal online sports betting is available in 30 states and DC, so just be sure yours is one of them -- and you'll be good to go for betting on the Olympics!

Can you bet on the Olympics on DraftKings?

Yes. DraftKings is a legal and licensed sportsbook. DraftKings offers one of the top sports betting apps in the US. You'll find everything you need to bet on the Olympics at DraftKings Sportsbook.

Best sportsbook apps and promo codes for betting on Summer Olympics odds

No matter how you want to bet on the Summer Games, know that you can score some serious house money at top-rated sportsbooks for betting on the Olympics.

Just tap on our promo codes and links to score more than $5K in betting bonuses now!

Learn more : Top sports betting sites | Best sports betting promos