Heading into the 2020 Tokyo Olympics, Team USA is the betting favorite at -1200 odds to win the most gold medals at the rescheduled summer Olympics. China is the second-favorite on the board at +600 odds to win the most gold medals, followed by the host country of Japan at +2500 odds.

Gold Medals Total Odds Most Team USA China Japan
USA and China will battle for the most gold medals once again at the 2020 Tokyo Olympics.

At the 2016 Olympics in Rio, the USA tallied the most gold medals with 46 victories. Great Britain finished second with 27 gold medals and narrowly edged out China, who won 26 gold medals.

Team USA is also the favorite at -1000 odds to win the most total medals, followed by China at +450 odds.

2020 Tokyo Olympics – Most Gold Medals Odds
  • USA -1200
  • China +600
  • Japan +2500
  • Great Britain +2500
  • Russian OC +2500
  • Germany +20000
  • Australia +20000
  • Netherlands +20000
  • France +25000
  • South Korea +50000
  • Canada +50000
2020 Tokyo Olympics – Most Medals Odds
  • USA -1000
  • China +450
  • Russian OC +2000
  • Great Britain +4000
  • Japan +5000
  • Germany +20000
  • Australia +20000
  • Netherlands +20000
  • France +25000
  • South Korea +5000
  • Canada +50000

Team USA topped the medal count in Rio with 121 total medals, including 37 silver and 38 bronze. China finished second overall in Rio with 70 medals, including 26 gold, 18 silver, and 26 bronze.

Japan won 12 gold medals in 2016 for sixth-best in the world. They also notched eight silver and 21 bronze to finish sixth overall with 41 medals.

Tokyo Olympics: Medals over/under totals

There’s also an over/under prop bet on gold medals that DraftKings set up. Team USA has a total of 43.5. Over 43.5 gold medals for Team USA is -105 odds, while under 43.5 is -125 odds. Keep an eye on the men’s basketball team for the USA. They’ve been trying to stave off a COVID-19 outbreak, which prevented Bradley Beal from joining the squad in Japan.

The host country of Japan has an over/under on gold medals set at 27.5. The bar is pretty high for Japan, considering they won 28 in their previous three Olympics combined, but there’s tons of pressure on their athletes to perform well on their home turf. At the 2016 Olympics in Rio, Japan won 12 gold medals. In London for the 2012 Olympics, Japan won just seven gold medals. At the 2008 Olympics in Beijing, Japan won nine gold medals.

DraftKings also created a total medals prop bet. China’s total is set at 85.5 o/u for all medals won, which pays out -120 odds for the under and -120 odds for the over. Team USA has the highest medals total set at 112.5 o/u. You have to lay -120 for either side of that over/under.

If you work backwards using the medal totals the oddsmakers set, you can estimate that bookies are projecting that Team USA will win 44 gold medals and 69 combined silver/bronze.

Check out more of OG’s coverage of the 2020 Tokyo Olympics.