- The United States was a favorite to win the most gold medals as well as the most total medals.
- Opening day of the Olympics was a disappointment, as the US failed to win any medals.
- China took four medals on opening day, three of them gold.
TOKYO - The United States entered the Tokyo Olympics as a massive favorite to win the most overall medals as well as the most gold medals.
Opening day saw that favorite status take a bit of a tumble, as the United States not only failed to win a gold medal on opening day, but failed to win a medal at all.
This is the first time since 1972 that the United States has failed to win a medal on the opening day of the Summer Olympics. Intriguingly, however, it continues an overall Olympic streak that now reaches two, as the United States also failed to medal in the 2018 Winter Olympics.
However, the United States wasn’t the kind of favorite in the 2018 Winter Olympics medal markets that it was entering the Tokyo Games, at least according to the online sportsbooks.
2021 Olympics - Most Gold Medals Odds
- USA -1200
- China +600
- Great Britain +2500
- Japan +2500
- Russian Olympic Committee +2500
- Australia +20000
- Germany +20000
- Netherlands +20000
- France +25000
- Canada +50000
- South Korea +50000
The United States entered the Olympics with -1200 odds to have the most gold medals, and with zero on opening day, it seems like underdog China could make a run at the totals.
China received three gold medals on opening day, which is a notable but minor gap - a gap the United States could easily overcome.
2021 Olympics - Most Overall Medals Odds
- USA -1000
- China +450
- Russian Olympic Committee +2000
- Great Britain +4000
- Japan +5000
- Australia +20000
- Germany +20000
- Netherlands +20000
- France +25000
- Canada +50000
- South Korea +50000
The United States was slightly less favored to win the most overall medals than it was to win the most gold medals.
This is an intriguing differential. Since 1996, the United States has been an utterly dominant force in the Olympics, winning the most gold medals and the most total medals every Summer Olympics except one - Beijing 2008.
In Beijing, China topped the United States in gold medal count, but fell behind in terms of overall medals won.
It’s intriguing to note that the United States, which has only been beaten in gold medal count in this time span, is less favored in total medals than it is in gold medals. After day one, China led the overall Olympic medal count as well, with four - once again, a gap that can easily be overcome with a solid performance from the United States.
Still, a day like that could easily shake the confidence of Olympic betting fans across the world, and it’s certainly worth keeping in mind.