Bookmakers and economists are predicting Britain could end a gold-medal stranglehold enjoyed by China, the US and Russia this century by muscling into the top-three finishing positions at the London Olympics.
Since 2000, China and the US have held the first and second slots in the gold-medal tally, with Russia third.
At Beijing in 2008, China led the table for the first time with 51 golds among 100 medals, while the US team won 36 golds and 110 medals. Russia took home 23 golds and 73 medals.
Britain came fourth, passing Germany and Australia, by winning 19 gold medals and a total of 47 medals.
This summer UK Sport, which funds elite British athletes, has set a target of 48 medals, but bookmakers and economists say this is too modest as Team GB are the largest Olympic team, with 542 athletes, and have the advantage of home crowd support.
Britain has also spent £312 million (US$483 million) since 2008 to make sure Team GB are top of their game.
Airton Risk Management, part of betting company Paddy Power PLC, has used predictions of 110 sports traders to forecast British athletes will bag 22 golds and a total of 61 medals, rivaling Russia for third place.
“It won’t surprise the public that Team GB are expected to deliver in cycling, sailing and boxing,” Airton Risk Management head Rod O’Callaghan said.
“However, there is a wealth of emerging and lower-profile talent — such as Perri Shakes-Drayton, [women’s 400m hurdles] who could pick up an unexpected gold in front of her home crowd, and Lawrence Okoye [men’s discus],” he said.
He added that the US were expected to perform well in track and field and in the pool, with odds of 16-1 that Michael Phelps will win seven golds in London. He won eight in Beijing.
David Steven, spokesman for bookmaker Coral, agreed that UK Sport’s target was low and was running odds of 6-5 that Britain would win 25 or more gold medals.
He predicted 64 or 65 British medals, which would be the greatest number for Britain since the London Games in 1908 when the nation won 56 golds and 146 medals — and a turnaround from the team’s worst Olympic performance in Atlanta in 1996, when they won just one gold and 15 medals to come 36th in the table.
Ladbrokes offer 3-1 that Britain would win 22 to 24 gold medals and odds of 5-6 of landing 62 or more medals.
“That sums up the sentiment in the camp at the moment ... us and the general public expect them to do very well indeed,” spokesman Alex Donohue said.
Such a medal tally could put Britain ahead of Russia in the London medal table, with Russian Sports Minister Vitaly Mutko acknowledging that Russia’s 450 athletes may struggle to compete with Britain for third place — and some economists agree.
Goldman Sachs used economic modeling to predict that the British team will come third with 30 golds and 65 medals, while Russia wins 25 golds and 74 medals, arguing that host nations can typically expect a 54 percent jump in gongs.
However, economists at PriceWaterhouseCoopers used a political and economic model to forecast Britain winning 54 medals, but lagging Russia with 68 medals.
They did not predict the gold-medal tally.
Bookmakers Stan James were not as upbeat and have lowered the chances of Britain winning more than 22 gold medals.
“There seems to be an air of pessimism concerning the Olympics, with atrocious weather and concerns over infrastructure and security to the fore,” spokesman Rory Jiwani said.
He said this mood was being reflected in the betting with punters backing Britons to win less gold medals than hoped.
“Initially we were 5-6 each for under and over 22.5 gold medals, but we’ve had to cut under 22.5 golds to 4-5, with over 22.5 golds now out to 10-11,” Jiwani said.
The London Games, running from today until Aug. 12, were expected to see record Olympic bets, but the total spend was still expected to fall far short of other major sporting events.
Bookmakers said the showpiece race, the men’s 100m, was seeing plenty of interest, with Jamaican Yohan Blake now seen as a serious contender to his fellow countryman Usain Bolt.
Steven from Coral said early estimates were of an industry-wide turnover exceeding £50 million, compared with £10 million to £15 million bet on the Beijing Olympics.
“But to put that into context, upwards of £500 million was wagered on Euro 2012,” he said.
A sumo star was born in Japan on Sunday when 24-year-old Takerufuji became the first wrestler in 110 years to win a top-division tournament on his debut, triumphing at the 15-day Spring Grand Sumo Tournament in Osaka despite injuring his ankle on the penultimate day. Takerufuji, whose injury had left him in a wheelchair outside the ring, shoved out the higher-ranked Gonoyama at the Edion Arena Osaka to the delight of the crowd, giving him an unassailable record of 13 wins and two losses to claim the Emperor’s Cup. “I did it just through willpower. I didn’t really know what was going
The US’ Ilia Malinin on Saturday produced six scintillating quadruple jumps, including a quadruple Axel, in the men’s free skate to capture his first figure skating world title. The 19-year-old nicknamed the “Quad god,” who is the only skater to land a quadruple Axel in competition, dazzled with an array of breathtakingly executed jumps starting with his quad Axel and including a quadruple Lutz in combination with a triple flip and a quadruple toe loop in combination with a triple toe. He added an unexpected triple-triple combination at the end to earn a world-record 227.79 in the free program for a championship
Shohei Ohtani’s interpreter is being criminally investigated by the IRS, and the attorney for his alleged bookmaker said Thursday that the ex-Los Angeles Dodgers employee placed bets on international soccer — but not baseball. The IRS confirmed Thursday that interpreter Ippei Mizuhara and Mathew Bowyer, the alleged illegal bookmaker, are under criminal investigation through the agency’s Los Angeles Field Office. IRS Criminal Investigation spokesperson Scott Villiard said he could not provide additional details. Mizuhara, 39, was fired by the Dodgers on Wednesday following reports from the Los Angeles Times and ESPN about his alleged ties to an illegal bookmaker and debts well
MLB on Friday announced a formal investigation into the scandal swirling around Shohei Ohtani and his former interpreter amid charges that the Los Angeles Dodgers superstar was the victim of “massive theft.” The Dodgers on Wednesday fired Ippei Mizuhara, Ohtani’s long-time interpreter and close friend, after Ohtani’s representatives alleged that the Japanese two-way star had been the victim of theft, which was reported to involve millions of dollars and link Mizuhara to a suspected illegal bookmaker in California. “Major League Baseball has been gathering information since we learned about the allegations involving Shohei Ohtani and Ippei Mizuhara from the news media,” MLB