The 2008 Summer Olympics only started just a few days ago, but already people are betting on the different sports in large numbers. NBC the reigning channel for the Olympics has seen a rise in ratings since the Olympics began on August 8th, largely due to the viewers who have placed bets on their country.

NBC Universal has reported that in a preliminary count, the average number of viewers for the Olympics is 29.1 million. That number makes this year’s Summer Games the most watched Olympics outside the United States since 1976.

Viewers are usually betting on their home country and which medal they will win, the bronze, silver or gold. In recent odds, China has been in the number one seat for gold, with the United States a close second. Surprisingly, Korea has put up a fight for third place. China’s interbank money market has seen a large rise of traders betting on China to take a large number of gold medals. The current number is 40 and 42, which is higher than 2004’s 32 gold’s.

Betting on the Olympics is expected to continue to rise, especially in the United States. With so many world records being broken, this year’s summer Olympics have been very exciting, enticing more people to place bets. One category that has seen a lot of action is swimming. Michael Phelps, who has already broke several records and won several gold medals this year alone, has had odds to win up to -5000.

It is also believed that more people may be watching at home this Olympics because of gas prices. With the prices being so high this summer, many people could not afford to go on vacation or attend other activities so they are home watching the Olympics.


- 2008-08-13