There’s nothing like the Olympics, and the winter version of the games kicks off in February in Milan and Cortina, Italy. The southern Alps, or the Veneto Dolomites specifically, will host the snow sports, and Milan will feature most of the ice events, hockey, and figure skating. This is the first Olympics since 1956 in the region, and the rough beauty and skilled performers will shine brightly.
Since sports betting has grown immensely in North America in the last four years, the Italian version has lots of betting opportunities to give viewers a front-row seat to get involved. But there are so many events, so many athletes—it can often be overwhelming.
Let’s start this way—simple win-or-lose bets.
The Basics
Betting on the Winter Olympics is a unique experience because it blends mainstream sports like ice hockey with niche, high-variance events like luge or curling.
To get started, you’ll need to understand the markets, find a legal sportsbook, and apply strategies specific to cold-weather sports.
- Outright Winners (Futures): Betting on who will win the gold medal in a specific event (e.g., Men’s Downhill or Women’s Figure Skating).
- Podium Finish: Betting on an athlete to finish in the top three (Gold, Silver, or Bronze). This is safer than an outright win but offers lower odds.
- Head-to-Head (Matchups): Sportsbooks often pair two athletes against each other. You simply bet on who will finish higher in the official standings, regardless of whether they win a medal.
- Country Medal Totals: Over/Under bets on how many total medals (or gold medals) a specific country, like the USA, Norway, or Canada, will win.
- Prop Bets: Fun or specific outcomes, such as “Will a world record be broken?” or the “Over/Under on the number of falls” in a figure skating program.
Be A Sport
Have a favorite sport? Now’s the time to drill down in your choice of events. Read and digest everything available before making your bets.
- Alpine Skiing: High-speed and exciting; great for head-to-head matchups. Mikaela Shiffrin (USA – Alpine Skiing) recently recorded her 100th World Cup win and is the heavy favorite in Slalom and Giant Slalom. And don’t miss the Lindsey Vonn Factor: At 41, Vonn is attempting a massive comeback. Odds on her to “Medal” or “Finish Top 10” will likely be high-volume markets for casual bettors.
- Ice Hockey: Olympic ice hockey plays like the NHL with money lines, puck lines, and totals. But unlike the last few Games, NHL players are confirmed for 2026. This makes the Men’s Ice Hockey market much more predictable. Canada and the USA are the current co-favorites, but Sweden is viewed as a high-value “dark horse” given their defensive depth.
- Biathlon: High variance due to the shooting element; underdogs often win. And outdoor events (skiing, biathlon, snowboarding) are heavily impacted by wind and visibility. If a heavy snowstorm is forecast, favorites can struggle, opening the door for underdogs.
- Curling: Slower pace allows for “live betting” between ends (similar to innings).
- Figure Skating: Subjective judging can make it tricky; look for “total points” bets.
- Speed Skating: Like so many winter sports, the Norwegians dominate this sport, but Americans have done surprisingly well over the years, with gold medalists like Eric Heiden and Apollo Ohno. This year, Jordan Stolz is expected to dominate multiple distances (500m, 1000m, 1500m).
Country Medals
Norway has long been a force in the Winter Olympics. Norwegians won 37 medals at the Beijing Olympics in 2022, followed by Germany with 27, the United States (25), and China (15). Norway is still the favorite, but other countries are within striking distance. Here’s the breakdown at the end of 2025:
Country Odds Estimated Total Medals Strengths
Norway -160 (4/6) 65–70 Cross-Country Skiing, Biathlon
Germany +470 (9/2) 55–60 Luge, Bobsleigh, Biathlon
USA +600 (11/2) 50–55 Snowboarding, Freestyle Skiing, Hockey
Canada +750 (7/1) 55–60 Hockey, Freestyle Skiing, Short Track Speed Skating
Italy (Host) +1600 (14/1) 30–35 Alpine Skiing, Short Track Speed Skating
So in the next six weeks, do your homework. Maybe become a “niche” expert. Sportsbooks spend most of their time setting lines for hockey. They may not be experts in Luge or Skeleton. If you do your homework on World Cup rankings for these niche sports, you can find “value” where the odds are “wrong.”
Good luck, and we’ll update information on the Olympics as we get closer.
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