2026 Winter Olympics Odds: Can USA Chase Down Finland in Most Medal Count Race?
The 2026 Winter Olympics are through one week in Milano-Cortina, and the Norwegians have mounted yet another gold medal lead. Can the USA catch them, or even escape with the most total medals in a winter session for only the third time ever? Peter Alexis breaks down the 2026 Olympics medal count as of Thursday, February 12th.
Peter Alexis - February 12, 2026, 11:10 AM EST
4 Minute Read2026 Winter Olympics Odds: Finland Holds Narrow Lead Over USA in Total Medal Count After First Week
The first week of the 2026 Winter Olympics in Milano-Cortina has already delivered a familiar storyline. Norway sits atop the medal race once again, flexing its dominance in skiing and Nordic disciplines while the United States tries to keep pace through speed skating, snowboarding, and hockey. With more than half the events still to come, the battle for both most gold medals and most total medals remains active, even if one of those races is already tilting heavily toward the Norwegians.
Historically, the Winter Games have always been a tougher climb for Team USA than the Summer Olympics. The United States routinely overwhelms the summer medal table thanks to depth and event volume, but winter sports favor Nordic nations built around snow, altitude, and endurance. The USA has never finished with the most gold medals at a Winter Olympics and has claimed the overall medal count only twice in history, back in 1932 Lake Placid and 2010 Vancouver. That context makes this year’s chase especially steep.
Still, the standings remain close in total medals, and several marquee American athletes and teams are positioned for podium runs in the days ahead. Whether that is enough to track down Norway is the central betting question shaping the Olympic markets right now.
Looking for advanced AI predictions and props to enhance your NBA betting? Try out oddschecker+ now on this limited time 7-day free trial!
Winter Olympics Most Gold Medal Odds
Norway is an overwhelming -1500 favorite to finish with the most gold medals, and the early results explain why. Through the first stretch of competition, Norway holds seven golds compared to four for the United States, immediately creating separation in a category where Nordic skiing events still dominate the remaining schedule. Those disciplines traditionally funnel multiple medals toward Norway, making any American comeback extremely difficult.
The United States sits at +850, a long-shot price that reflects both history and math. Team USA has never topped the Winter Olympic gold table, and closing a three-gold gap against the strongest skiing nation in the world would require near-perfect execution across snowboarding, alpine skiing, and team sports. Even with stars like Chloe Kim favored in the women’s halfpipe and Mikaela Shiffrin positioned strongly in slalom, the volume advantage still leans heavily toward Norway.
In short, the gold medal race is not officially over, but it is clearly Norway’s category to lose.
Click here for the latest Olympics Gold Medal Odds
Winter Olympics Most Total Medal Count Odds
The overall medal count tells a very different story. Norway’s edge is only 14–13, leaving the United States firmly within striking distance. Betting markets reflect that tension, pricing Norway at -195 while the USA sits as a live +155 underdog. Unlike the gold race, depth across multiple American sports keeps this competition open.
Team USA’s upcoming opportunities are significant. The Americans are heavy favorites for women’s hockey gold (-380) and strong contenders for a men’s hockey medal (-370). Add in snowboard and alpine medal chances from Kim and Shiffrin, plus continued strength in speed skating and freestyle events, and the United States has a realistic path to stacking podium finishes quickly.
Norway remains the safer projection because of its consistency across endurance events, but the overall medal race is still competitive. A short American surge over a few event days could flip the leaderboard and create one of the tightest Winter Olympic finishes in recent memory.
Click here for the latest Olympics Most Medals Odds
More Olympics odds
Affiliate Disclosure.
We are not a gambling or betting operator, but we receive a commission from these companies when we advertise their brands and refer customers to them (affiliate marketing). We provide information, odds information and links to websites of these companies. Some of the information made available on our site may be positioned as a result of a commission paid to us by a third party. We do not take or place bets/transactions and any information on Our Products is provided for entertainment purposes only.
