DraftKings, the largest sportsbook in the United States, has recently started offering odds on the upcoming U.S. Olympic Swimming Trials in select states, including Indiana where the event is taking place. This move follows Caesars Sportsbook’s earlier this year and is seen as a precursor to the upcoming Olympic Games, which have significant potential for gambling in the U.S.
As of Tuesday evening, only two races have odds listed for this week’s Trials – the men’s 200 back and the women’s 200 breast. In both races, heavy favorites have emerged according to the odds available.
Intriguingly, Lydia Jacoby, who has declared that she will not be swimming in the race against her favorite status for women’s 200 breaststroke has emerged with third-best odds of winning this race. This highlights a potential weakness in wagering on Olympic events where we don’t always know what athletes will participate until last minute.
Kate Douglass is currently leading as the favorite with odds of -500 implying an 83.33% probability of winning in women’s 200 breaststroke race. She holds American Record and leads her competition by a wide margin. On the other hand, Ryan Murphy is a heavy favorite with odds of -1000 for men’s 200 backstroke implying an expected win probability of 91%. Jack Aikins comes next with odds of +756 suggesting a win probability of around 12%.
The implied win probabilities based on odds differ significantly from those in pick ’em contests. In case of men’s 20
