Most of the bets on this yearís Olympics will be placed on marquee events like the final of the menís 100-meter sprint, or on the overall medal count. Some gamblers may be drawn to novelty bets like the color of Queen Elizabeth IIís hat at the opening ceremony (peach is a narrow favorite over light blue) or the number of days on which rain will fall over the Olympic Stadium during the Games.
But for the first time at the Olympics, bettors also will be able to wager on the outcomes of each of the 302 medal events across 26 sports, meaning fans of the obscure, uncelebrated and downright oddball events at the Olympics have an unprecedented chance to cash in.
And it may be a good chance, at that. For aficionados of these events, experts say the 2012 Olympics may represent that rare opportunity in sports gambling when the bettors have an edge over the bookmakers.