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Tokyo 2020 Olympics: Odds to Win Most Gold Medals

The 32nd Olympic Games have begun in Tokyo. The opening ceremony took place Friday, July 23, just shy of one year from the original start date of July 24, 2020, before the COVID-19 pandemic pushed the Games back.

The first sporting events began two days prior to the opening ceremony with softball and soccer getting underway. This is the second time that Tokyo has hosted the Summer Games and the first time since 1964. The USA has by far the most gold medals in Summer Olympics history and is the heavy -1600 favorite in the odds to win the most gold medals in the 2020 Tokyo Games.

Online sportsbook Bovada has updated the odds to win the most gold medals at the Tokyo 2020 Summer Olympic Games with the USA leading the charge at -1600, followed by China at +800, Japan at +2800, Great Britain at +5000 and the Russian Olympic Committee at +5000 to round out the top five nations on the oddsboard.

This means that you would have to wager $1,600 to profit $100 if the USA wins the most gold medals. Our sports betting calculator tells us that the USA’s odds of -1600 represent an implied win probability of 94.12 percent.

Tokyo 2020 Olympics: Odds to Win Most Gold Medals

Odds to win most gold medals: Tokyo 2020 Games
Great Britain+5000
Russian Olympic Committee+5000
Germany +25000
South Korea+50000

Odds as of July 26 at Bovada

Be sure to check out our article on which nation is favored in the most medals odds. Also, our How to Bet Olympics guide is a great resource to assist you in feeling comfortable placing a wager on any of the Tokyo 2020 Olympic Games.

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Tokyo 2020 Summer Olympic Games

There are 33 more events in the Tokyo Games than there were in the Rio de Janeiro 2016 Games so there are more opportunities for other nations to gain ground on the USA. Among the new events, there are additions to existing sports, as well as new events altogether.

The additions include 3x3 basketball, freestyle BMX and Madison cycling. The new events are karate, sport climbing, surfing and skateboarding. Lastly, baseball and softball return to the Games after being removed after the 2008 Beijing Games.

How Dominant has the USA Been in the Summer Games?

The all-time medal count has the Americans leading the charge with 2,523 medals and 1,022 of those are gold. To put that in perspective, the next-closest country is the former Soviet Union, which had 395 gold medals. The next-closest current-day competitor is Great Britain at 263 while participating in one more Games.

The USA has been the top nation in the gold medal count in five of the last six Summer Olympic Games, with China at the 2008 Beijing Games being the only nation to knock off the Americans.

What Country Has the Best Chance To Top the USA?

The last time the Summer Olympics were held in Asia was the 2008 Beijing Games, when China was the top nation. Although the Americans had the largest medal count at 112, China had 48 gold medals, a dozen more than the USA. The two nations finished first and second in the ensuing Summer Games in 2012 in London with the USA winning 46 golds to China’s 38.

A new contender emerged in 2016 with Great Britain finishing second in the gold medal standings at 27, one more than China. With the Games back on Asian soil, I have to think that China will be in gold medal contention again and with +5000 odds to win the most gold medals, I think it’s worth a sprinkle.