How to Bet on Bodybuilding (Mr. Olympia Competition)
Written by
Joe - Poker PlayerLast updated:
February 22, 2023
The fitness industry is rising in popularity with bodybuilding competitions receiving millions of live spectators and online viewers worldwide.
Learning how to bet on bodybuilding is a great way to make money off of a fitness competition as a spectator and add a layer of excitement to the experience. The Mr.Olympia competitions are the most popular market in bodybuilding betting.
This article explores every information you need to get started with betting on bodybuilding. From the odds, betting sites, and most common markets, to essential tips to place successful bets, I will cover it all.
Key Takeaways:- The global fitness industry, which includes bodybuilding, is experiencing steady growth, projected to reach $434.74 billion by 2028
- Arnold Schwarzenegger won his first Mr. Olympia title at a young 23, while Chris Dickerson became the oldest champion at 43
- Betting on bodybuilding competitions and Mr.Olympia is legal in Florida and most US states
- Winning the Mr. Olympia title is the greatest accomplishment any bodybuilder can achieve
Bodybuilding Betting Made Simple: How To Bet On Mr. Olympia In 2 Steps
As mentioned above, betting on Mr. Olympia competitions is the most popular market. Hence, top US online bookmakers mainly focus on this market and occasionally offer lines for some more notable bodybuilding events. Generally, the number of online bookmakers that provide bodybuilding betting odds is limited. Join the only Bodybuilding Betting community on the internet to get the latest stories, news, legal updates, and more.
Step 1: Pick the right sportsbook
I handpicked the following sportsbooks from our top-rated websites, ensuring they all offer Mr. Olympia betting odds. Floridians and other US punters can easily sign up at these sites and bet on their favorite bodybuilders with generous bonuses.
1. BetOnline: Best Overall Bodybuilding Betting Site
BetOnline is the best all-in-one online gambling platform in Florida, offering a wide range of casino, sport, horse racing, and E-sports bets. Although New Jersey players are restricted, the rest of the US states can easily place their wagers on this website as it is a trusted, regulated site with over two decades of solid reputation.
BetOnline covers Mr. Olympia competitions as well as some other notable bodybuilding events. However, if you go to the sportsbook, you will not see the bodybuilding listed among the available sports. The reason is that they do not offer lines for all competitions and the market will only be available during the period when major competitions take place.
Among all the usual betting markets like the match winner, BetOnline allows more experienced bettors to request a bet with specific odds. In other words, you can set your line for your favorite bodybuilder, request it through email or live chat, and they will open the line for you to bet on.
A generous sports welcome bonus, reload bonuses, a VIP program, and a list of other features make BetOnline your sportsbook of choice for Mr. Olympia 2024 betting.
The Best USA Online Casinos of May 2024
2. Sportsbetting: Best for high-stakes sports bettors
Having the same parent company operating the website, Sportsbetting is a relatively new name in the online gambling market. Luckily, the gambling services at Sportsbetting are available to punters from the Sunshine State and all US states.
Compared to BetOnline, the number of covered sporting events, sports reload bonuses, and betting options is limited at Sportsbetting.ag. However, the website covers all the major events in the US and international sports, including bodybuilding.
Given the minimum $100 deposit limit for welcome bonuses, the website is catered to high-stakes gamblers who are willing to risk more to have a chance of winning big.
3. Bovada: Best for Crypto bodybuilding betting
Bovada started serving the online gambling market as a sportsbook back in 2011. The operators added casino, poker, and horse race betting shortly after.
Extensive sporting events coverage, crypto sports gambling, and Mr. Olympia betting markets are a few reasons that make Bovada a solid option for Florida punters. The only downside to this trusted platform is that some US states, including NJ and NY, are restricted.
Compared to BetOnline bonuses, Bovada offers a relatively fewer number of bonuses. However, the reasonable wagering requirements and minimum deposit limits allow bettors to maximize their bankroll.
Step 2: Understand the betting markets and odds
Given the nature of bodybuilding competitions, betting options are limited. Unlike soccer, which includes many options, like point spreads and totals, bodybuilding and Mr. Olympia bets are limited to the following categories.
The Winner of Mr. Olympia
This betting market is possibly the most straightforward and is similar to the match winner market in other sports. You simply need to bet on who the competition winner will be, and you’ll get returns if your bet is correct.
Sportsbooks will provide odds for the competitors, which are calculations for the returns bettors will get if they wager on that competitor based on their chances to win. So, typically, a sportsbook will provide much better returns for underdogs(those less likely to win) than for the favorites(those with higher chances of winning). This way, bettors have the incentive to bet on competitors other than the favorites in the hopes of getting better returns. So, higher risk results in greater rewards in this case.
Here’s an example to help explain how odds work.
A betting website may set the odds for two competitors as follows.
- Competitor A -300
- Competitor B +400
The odds above are known as American or moneyline odds. It indicates that Competitor A is the favorite(negative sign), meaning he has a higher chance of winning the Mr. Olympia title than Competitor B.
So, if you bet $10 on Competitor B, you will get a return of (10 x 4) $40 plus your $10 initial wager. On the other hand, betting on the favorite lowers your returns. In that case, you will get $10 if you bet $30 on Competitor A plus your initial $30 wager.
The Top 3 Competitors Market
Every bodybuilding, most notably the Mr. Olympia competition, will have three competitors with the highest scores. So, you can bet on who those three competitors will be. It is a relatively risky betting option as you have to get all three competitors right for your ticket to win.
A Specific Competitor Will Be in the Top 3
This type of betting market can be a safe choice for new bettors because you have to pick a competitor who just needs to make it to the top 3—not win the title. So, you have more margin for error because you’re choosing one competitor for 3 spots instead of one (which is the case for betting on the winner).
Whether There Will Be a New Champion
This category can be another safe one because you only need to bet on whether the champion will be different from the last year. It’s common for competitors to win Mr. Olympia titles consecutively, but if you expect that won’t be the case, you can bet on the winner being different. An interesting fact about Mr. Olympia Champs is that comebacks are rare. Only three champions have successfully returned to win after a break.
Cross-sport Parlays
The top sportsbooks reviewed above allow you to make cross-sport parlays while betting on Mr. Olympia’s competitions. For example, you can bet on the Mr. Olympia winner and MLS league in a 2-leg parlay. Such tickets offer higher payouts but involve higher risks of failure.
The Mr. Olympia Competition Recap
Mr. Olympia is a bodybuilding competition for men, and it’s not about proving who is the strongest. That is to say that competitors do not have to display their strength by lifting heavy weights (such as powerlifting). Instead, it is a competition in which the bodybuilders’ bodies are judged based on their aesthetics.
Therefore, there are judges in the competition who look at various aspects of each contestant. Thus, they look at the muscularity of every contestant by examining each muscle group’s mass and definition with respect to their body’s proportions. The muscle groups include the following.
- Thighs and calves
- Abdomen muscles
- Back muscles
- Arms muscles, which include the biceps and triceps
- Chest
- Shoulder muscles, which include the front, middle, and rear deltoids
- Neck development
- Head’s proportions
Therefore, the judges determine the winner based on these factors.
Who Are Some of the Best Mr. Olympia Champions?
Since its inception on September 18, 1965, the best bodybuilders in the world have competed for the title, with the most iconic champions being:
- Arnold Schwarzenegger
- Hadi Choopan
- Lee Haney
- Ronnie Coleman
- Phil Heath
- Dorian Yates
Hadi Choopan is the highlight among the names. Hadi Choopan’s biography and his inspiring story are real-life examples of how when you focus on a dream, no obstacle can stop you from achieving it.
Mr. Olympia Winners In The Past 10 Years
| Year | Winner | Nationality |
| 2023 | Derek Lunsford | United States |
| 2022 | Hadi Choopan | Iran |
| 2021 | Mamdouh “Big Ramy” Elssbiay | Egypt |
| 2020 | Mamdouh “Big Ramy” Elssbiay | Egypt |
| 2019 | Brandon Curry | United States |
| 2018 | Shawn Rhoden | Jamaica, United States |
| 2017 | Phil Heath | United States |
| 2016 | Phil Heath | United States |
| 2015 | Phil Heath | United States |
| 2014 | Phil Heath | United States |
Final Thoughts
It’s crucial to understand that betting on Mr. Olympia is a niche betting community. Therefore, you may not have many people betting on the sport, which may not be the most exciting option for new bettors. Still, it can be an excellent opportunity for more experienced bettors to find value bets. If you’re a fan of bodybuilding and the Mr. Olympia competition, you can use your knowledge and passion to win some cash and enjoy the events more.
FAQs
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How do you qualify for Mr. Olympia?
Here’s a breakdown of the qualification requirements for being able to participate in a Mr. Olympia competition. The top 5 competitors of the previous Mr. Olympia competition get qualified for the next Mr. Olympia competition The top 3 competitors of the other Olympia competitions get qualified for the next Mr. Olympia competition The winners from the qualifying phases get an invitation to qualify for the next Mr. Olympia competition So, any bodybuilder cannot simply compete in this prestigious event.
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What is the Mr. Olympia equivalent for women?
The equivalent title for women in professional bodybuilding is Ms. Olympia. It's the most prestigious competition for female bodybuilders within the IFBB Professional League.
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Where is Mr. Olympia held?
The location may vary each year, but it's typically held in the United States.
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Who won the most Mr. Olympia titles in history?
Ronnie Coleman holds the record with eight victories.
