How Many Americans are Betting on the Tokyo Olympics? A Whole Lot…
The Opening Ceremony for Tokyo Olympics occurred on Friday, and that means the games have begun. Some competitions happened before the ceremony, but the bulk of the action will occur over the next two weeks.
According to a recent poll from the American Gaming Association, 20.1 million Americans are planning to bet on the Tokyo Olympics. This survey was released on Tuesday, and it was the first time the association conducted a poll of this kind.
Tokyo Olympics is Pivotal for Legal Betting
The American Gaming Association conducted the study between July 9-12 amongst 2,200 adults. The interview was completed online, and the data was extrapolated based on adults’ gender, education, age, race, and region.
The survey has a +/- 2% margin of error. In the Winter Olympics, legal sports betting was only legal in Nevada. This will be the first Olympics where sportsbooks can offer bets for the games, and promotional efforts are drastic.
This will be the first of many Olympics that will be legally wagered, and the numbers are expected to be monumental. Sports betting is available in 21 states and Washington DC. There are over 100 million Americans registered for online sportsbooks in the United States or frequent bettors at retail facilities.
Break Down of the Survey
There are an estimated 20.1 million Americans expected to place a bet on the Tokyo Olympics. This number is vast, but most of the stakes will be placed on basketball and soccer. These events are frequently wagered in the United States, so this is no surprise.
However, a variety of games will be heavily wagered by Americans. 54% of US citizens are interested in placing a bet on the Olympics, with 25% claiming that they are definitely locking in a wager.
45% of the bets will be placed on basketball, 34% on soccer, 28% on gymnastics, and 27% on track and swimming. 47% of bettors will place casual bets with friends. The American Gaming Association will not track this data.
The trackable stats will be online bets and retail wagers. 16% of Americans will bet from their mobile device, and 16% will head to a sportsbook to lock in a chance. Additionally, 13% will go old school and call a bookie.
The Tokyo Olympics will run through August 8th. There have been various positive COVID-19 cases, but the games are still running as scheduled, which is good news for American bettors.