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The summer Olympics in Beijing China are just around the corner. After some political disputes relating to the freedom of the Tibetan people, government unrest's and speculation that they might be boycotted; the Olympics are finally just around the corner. It is really an exciting time as usually this time of year; punters do not have many choices in performing internet betting operations aside from European cup football qualifiers and exhibition matches.

After all the politics aside, this event will likely trigger rises in betting activity from the major European betting houses hosted in places like Gibraltar and Malta.

As far as football is concerned, the favorites are the Brazilian team. With legendary names that have already rocked the European club crowd all playing together in one team, it is highly unlikely that any other team in the world might be able to take gold from them. Germany is the favorite to win the field hockey while the USA is favorite to win in basketball as the dream team goes once again to claim gold in overseas national competitions. Only thing left to see if there will be a surprise in any one of these events and if so, a shocking sports world event where the media will surely make a huge issue about.

On a more general note, China is the favorite to take home the most medals, while USA comes in a close second, and a likely punter bet for USA to get the most as the odds are really good for this country. Another important note that might interest punters is whether or not world record may be broken. The odds favor a NO in terms of Colt or anyone else breaking the 100m world record. In overall women's gymnastics, the odds favor the USA with China being a strong second. An interesting note on the most gold medals favors the Germans and the Australians to get the most gold medals over the Chinese and the USA team; perhaps due to the Swimming competitions among others.

One interesting bet currently in major betting markets such as betfair is 3.85 odds backing Serbia to win the Men Water Polo sport competition. Odds in general across major betting houses like the one mentioned and others seem somewhat favorable to the punter odds wise as companies will be looking to bring in clients and increase betting activity by upping the odds a bit in some categories, and also in order to increase general activity given the fact that August is somewhat of a sluggish month usually throughout the years as there are hardly major competitions for punters to bet on.

The 2008 Olympics will surely be ones where punters will make millions in betting, this for Europe alone. It also gives a more global chance for people interested in their own countrymen to place bets and back them, and an opportunity for everyone in the world that is actively watching the event to open accounts with major betting houses and place bets across sports and countries during the generally boring August in terms of major sports activity.