Odds to Win Most Medals at 2026 Olympics; Norway Favored to Repeat

Don’t blink because the 2026 Winter Games are about to begin in Milan and Cortina d’Ampezzo in Italy.    Nearly 3,000 athletes from 92 nations compete in 16 sports across 116 events.  Beijing hosted the 2022 Games, and Norway led the way with 16 gold medals and 37 total medals. And it’s no surprise the Scandinavian nation is favored to win the most gold medals and finish with the most overall. Could the Americans spoil Norway’s chances?  Let’s preview the nations most likely to win the most medals in Italy.

Norway (-375)

Norway has been the top dog at the Winter Games over the last decade and has led for most total medals in the last two Olympics.  At the Beijing Games in 2022, Norway finished with 37 medals, including a Games-high 16 gold medals.  At the 2018 PyeongChang Games, Norway finished with 39 total medals, including 14 gold, tied for the most.

Norway’s dominance in the Nordic events is unmatched and is predicted to win most of their medals in this discipline.  Biathlon star Bø, who will retire following these Games, and cross-country competitor Johannes Høsflot Klæbo are Norwegians to look out for in these 2026 Games.  

Norway Total Medals

OVER 37.5  (-145)

UNDER 37.5 (+113)

Norway Total Gold Medals

OVER 15.5 (+136)

UNDER 15.5 (-175)

USA (+550)

The Americans finished fifth at the 2022 Winter Games with 25 total medals. It was considered a down year for the US, as they’ve consistently been in the top 2 or 3 in previous Olympics.  This time around, they have plenty of hopefuls, including contenders in figure skating, ice hockey, snowboarding, speed skating, and Alpine skiing.  The Americans did finish with 9 gold medals in 2022, tied for third most.  Speed skater Jordan Stolz has the potential to win multiple medals, while Mikaela Shiffrin could win multiple medals on the slopes.  If things go right for the US, they could make a serious charge for the top spot. 

USA Total Medals

OVER 31.5  (-145)

UNDER 31.5 (+110)

USA Total Gold Medals

OVER 12.5 (-135)

UNDER 12.5 (+105)

Germany (+750)

Germany could be the sleeper of the Winter Games to dethrone Norway, as many experts feel they could win more medals than projected.  The Germans are expected to rack up podium finishes at the sliding center as they are favored to win in Luge, Bobsleigh, and Skeleton.  

The “Tobis” are considered the best doubles luge team in the world. Tobias Wendl and Tobias Arlt, both 38, have won six total/consecutive Olympic gold medals in men’s doubles and the team relay, and are the favourites to win more.  If the Germans can hit the podium at other events, they could push for a top finish atop the Gold Medal standings.

Germany Total Gold Medals

OVER 12.5 (+171)

UNDER 12.5 (-225)

Canada (+2000)

As one of the most successful nations in Winter Olympic history, Canada arrives in Italy with plenty of expectations, but topping the gold medal table is likely out of reach. They did win the most gold medals in 2010, when the Games were at home, in Vancouver.  Canada finished with 14 gold and 26 total medals. Canada is favored to pick up gold medals in ice hockey and curling, while they should fare well on the slopes in ski cross and other freestyle events.  But it will be tough for them to hit the 30-medal mark at these games.

Canada Total Medals

OVER 26.5  (-145)

UNDER 26.5  (+113)

Canada Total Gold Medals

OVER 12.5 (-135)

UNDER 12.5 (+105)

Most Overall Medals Odds

Norway -375

USA +550

Germany +750

Canada +2000

Italy +2500

Switzerland +6600

Most Gold Medals Odds

Norway -185

USA +310

Germany +700

Canada +1800

Netherlands +2500

Italy +3300