Betting on the 2026 Winter Olympics: Most Medals Odds & Expert Pick

With the 2026 Winter Olympics underway, individual athletes are chasing glory in Milan and Cortina, hoping to win a medal. At the same time, each country is hoping to earn bragging rights by winning the most total medals. This is one of the more popular betting markets for fans of the Winter Olympics who don’t know enough about each individual event.

For the 2026 games, there is a new Winter Olympics record with 116 medal events, meaning there are 348 total medals being awarded throughout the games.

With that in mind, let’s take a look at where the current odds stand for the highest medal count and which country is the best bet to earn this honor by the end of the 2026 games.

2026 Winter Olympics Most Medals Odds

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Winter Olympics Most Medals - My Pick

🌟 Norway (-195) at FanDuel Sportsbook

At this stage in the Olympics, there is still good value in betting on the favorite to win the most medals. During the first part of the Olympics, host nation Italy is the current leader in total medals, holding a narrow lead over Norway, the United States, and Austria. However, Italy is still something of a dark horse to win the medal count, making this a two-horse race between Norway and the United States.

My pick of Norway is all about recent history. The Norwegians won the most medals in both 2018 and 2022. At both games, the gap between Norway and the second-place finisher in the medal count was substantial. As the most Winter Olympic gold holders of all time, their pedigree is unmatched. At both games, the gap between Norway and the second-place finisher in the medal count was substantial.

Plus, there aren’t many events in which the Norwegians don’t have a chance to win at least one medal, giving them an edge when it comes to the total medal count.

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How to Bet on Winter Olympics Medal Count

Throughout the Winter Olympics, the best online sportsbooks are offering betting markets for most events. This includes popular sports like hockey, as well as individual skiing and skating events. You may also find medal specials, which will include the market for betting on which country will finish the Olympics with the most total medals.

How to Read Winter Olympics Medal Odds

If you are familiar with futures odds, you will have no problem reading the odds for the most Olympic medals. Since there are several countries in contention to win the most medals during the Olympics, most nations will have plus odds, which indicates a large payout for a winning bet.

For example, if a country has +500 odds to win the most medals, a bet of $100 on that country will mean a profit of $500 for a winning wager. On occasion, there might be a heavy favorite that will have negative odds. For instance, a heavy favorite might carry -500 odds, which means you will need to bet $500 to win a profit of $100.

Winter Olympics Medal History

As mentioned, Norway has captured the most total medals at the last two Winter Olympics. But the Norwegians aren’t the only ones who have had past success during the winter games. Germany earned the most medals during both the 2002 and 2006 Olympics. In fact, the Germans have been first or second in the medal count in five of the six Winter Olympics this century.

The United States also has a strong history at the Winter Olympics, winning the most medals in 2010. The Americans have been among the top three medal winners at five of the last six Olympics, finishing second on three separate occasions and third at the last Olympics in 2022. Outside of Norway, Germany, and the United States, Canada and the Netherlands have also been among the most frequent Winter Olympics medalists during the 21st century.