Olympics Generate High Betting Action; Gold-Medal-Count Market Controversy Ensues

  • 📰 Covers
  • ⏱ Reading Time:
  • 34 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 59%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Sportsbooks took differing approaches to how to settle bets made on USA and China to win the most gold medals at the 2024 Paris Olympics.

While many differed to their house rules, one book paid out backers of both countries in full.The Paris event drew 76% higher television ratings compared to the Tokyo Games held in 2021. With 38 U.S. states now offering legal sports betting, compared to less than 20 during the previous Olympics, heavier action was expected during this year’s more than 300 medal events. Caesars told Covers on Monday that the 2024 Olympics generated the most wagers behind only MLB over the last two weeks.

DraftKings and bet365 told Covers that the total gold medal market was settled with dead heat rules, so the payouts on USA-China were halved.BetMGM reportedly implemented a silver-count tiebreaker in the online sportsbook’s gold medal market, which gave the U.S. the edge over China in payouts. The U.S. men’s squad, which needed a 13-point, fourth-quarter rally to beat Serbia in the semifinal round, pulled away from France late on the hot shooting of Steph Curry to win 98-87. The French team, led by Victor Wembanyama, covered the +16.5.

DraftKings told Covers that 91% of the money and 88% of the wagers were on the USA to win gold at -700.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 341. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Hopes High for Alberta’s Regulated Sports Betting, iGaming Market, but Launch Date Still TBDA competitive market for online sports betting and iGaming in Alberta has at least one operator rubbing its hands together in anticipation.
Source: Covers - 🏆 341. / 59 Read more »