Emerging Trends in Winter Olympics Betting
Milan (AP) — As the Winter Olympics unfold, curling is emerging as an unexpected favorite among gamblers, drawing notable interest that has taken sportsbooks by surprise. This unique discipline, characterized by its smooth stones and active sweeping, is capturing the attention of bettors, particularly during the four-year Olympic cycle, despite ice hockey traditionally holding the top spot in winter sports betting.
Record-Breaking Wagering Predictions
Chris Pearce, a senior trader at Caesars Sportsbook, remarked on this trend, stating,
“The division between curling and hockey in betting preferences is more pronounced than we anticipated.”
Analysts predict that the total amount wagered during these Olympics will break records, surpassing the figures from the 2022 Beijing Games, largely due to the growth of legalized sports betting across the United States and the favorable time zones that make live tracking easier.
Pearce anticipates that wagering on curling alone could surpass one million dollars, a figure he initially thought was overly optimistic. He noted,
“If someone had suggested at the outset that curling would reach that level, I would have doubted it, but the interest is genuinely there.”
International Oversight and Growth in Betting
The International Olympic Committee (IOC) is vigilant in overseeing betting activities to uphold the integrity of Olympic events. They reported a staggering €11 billion (approximately $13 billion) in global betting volume for the upcoming Summer Games in Paris. Given that the Summer Olympics feature significantly more events than their Winter counterpart, they naturally attract higher betting figures. Nonetheless, substantial growth in betting is expected at the Milan Cortina Games, with reports indicating that the numbers have already eclipsed those from Beijing within just the first week of competition.
Curling’s Rising Popularity
Cortina’s curling events recently saw Sweden clinch the gold medal in mixed doubles against the United States, and as men’s and women’s team competitions progress, allegations of rule violations have added a layer of controversy. Christian Cipollini, a senior trading manager at BetMGM, confirmed that curling is increasingly recognized as a leading betting sport after ice hockey. He explained that the sport’s relatable nature and straightforward rules contribute to its growing popularity among fans and bettors alike. Unlike quicker sports such as speed skating, curling offers prolonged competition, often featuring dramatic shifts in leadership during matches.
Betting Behavior and Cultural Differences
While American bettors tend to support their compatriots in lesser-known Olympic events such as curling, ski jumping, and biathlon, European betting culture is more diverse and less nationally focused. Cipollini pointed out,
“Americans appear more inclined to bet on their national athletes, sometimes without considering performance, whereas in Europe, that’s not as common.”
The betting behavior sometimes reflects blind optimism, as seen when bettors placed wagers on the renowned skier Lindsey Vonn, who tragically was injured during competition. In contrast, sports like figure skating can be complex to bet on due to the subjective nature of judging.
Concerns Over Gambling Prevalence
Generally, Cipollini observed that events featuring U.S. competitors are the most frequently bet on. Ice hockey does present a unique case, as Canada often holds the title of favorite.
A past event, the NHL’s 4 Nations Face-Off tournament, saw Canada triumph over the U.S. in an exhilarating overtime finish, setting the scene for similarly high-stakes Olympic matchups. Cipollini speculated that if a U.S.-Canada men’s hockey showdown occurs at the Olympics, it could be the most heavily wagered game of the year, surpassing even NHL finals and regular-season games.
However, the increasing prevalence of gambling also raises concerns. Since the U.S. Supreme Court lifted the federal ban on sports betting in 2018, various scandals have surfaced within the arena. Public perception is shifting, with many Americans growing wary of the implications of sports gambling for society. According to the National Council on Problem Gambling, issues linked to sports discipline are notably higher than those faced by general gamblers. Research indicates that problematic gambling habits can lead to severe personal consequences, such as financial hardship, legal troubles, and increased incidences of mental health crises, including divorce and suicide. Furthermore, gambling is disproportionately affecting college students, with children also being exposed to betting activities.
Responsible Gambling Resources
In light of these concerns, advocates suggest using resources such as GambBan and BetBlocker to help individuals manage their gambling activities responsibly.
