2021 Olympics Odds: $128K Wagered On The Olympics Being Cancelled

The head of the Tokyo Olympics organizing committee has raised doubts about the Olympics going ahead, but what do the odds say?
OddsChecker
Tue, July 20, 9:39 AM EDT

2021 Olympics Odds: Odds Of The Olympics Not Going Ahead Drastically Cut

The 2020 Olympic Games in Tokyo has already been delayed by a year due to the Coronavirus outbreak, but now after a rise in cases in Tokyo and across Japan, there’s serious doubt about the games being cancelled entirely.

Just earlier today, Toshiro Muto, who is the head of the organizing committee for the Tokyo Olympics has admitted that there is a chance that the Olympics could be cancelled at the very last minute. The games are due to start tomorrow with the opening ceremony scheduled for Friday July 23 in Tokyo.

Like with most other areas of the world, there has been a rise in coronavirus cases across Japan and the games has already made the decision to hold the event without spectators. But could there be even more extreme measures taken soon?

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2021 Olympics Odds: Cancellation Odds Cut From 90/1 Into 10/1

Like with most sporting events, analyzing the chance of success or failure can be easily determined by looking at the odds formed by the bookmakers or sportsbooks. Now, usually these odds are for a team or athlete to win at a certain sport, but over in the UK, there are odds on if the games will go ahead or not. Or to be precise, on whether the opening ceremony will go ahead on July 23.

The Betfair Exchange has offered odds on this and a total of £418,281, at the time of writing, has been matched on the exchange (more on how an exchange works below). As of right now, the odds on the games going ahead and the ceremony taking place are 1.05 (exchange/decimal odds), which equates to 1/20 (traditional fractional odds). For the ceremony to be cancelled, the odds are 10/1.

Now this may seem like a longshot still at 10/1, but in the past few hours, the odds on the ceremony being cancelled has come down all the way from 90/1 into 10/1 with momentum building. In total there has been $128K bet on the Olympics being cancelled and the opening ceremony not taking place.

Will The Opening Ceremony Go Ahead? Betfair Exchange Odds Fractional Odds Implied Percantage Chance
Yes 1.05 1/20 95.2%
No 11 10/1 9.1%

What Is A Betting Exchange And How Does It Work?

A betting exchange allows bettors to wager against each other rather than a traditional bookmaker or sportsbook. All bettors can offer odds to, or request odds from, fellow bettors. The exchange makes money by taking a small commission on winnings. The Betfair Exchange in the UK is one of the biggest and most trusted betting websites in the country, with millions of pounds traded each day on a variety of sporting events.

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