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Olympics 2018 Odds

The city of PyeongChang will host the XXIII Olympic Winter Games. This followed 1 round of voting by the members of the International Olympic Committee (IOC) on 6 July 2011 at the 123rd IOC Session in Durban, South Africa. Three cities were proposed by their National Olympic Committees to host the 2018 Games: Munich (GER), Annecy (FRA), and PyeongChang (KOR)*. At its meeting on 22 June 2010, the IOC Executive Board selected all three cities as Candidate Cities and they continued to the second phase of the bid process. At the final vote in Durban, PyeongChang was elected with 63 votes to Munich's 25 votes and Annecy's 7 votes). This gave PyeongChang the majority that it needed to overcome the stiff competition put -up by Munich and Annecy.

PyeongChang added that capital letter "C" to the middle of its name to avoid confusion with the Pyongyang, the capital of North Korea. There was real concern that some people might board planes for the Communist country by mistake, so rebranding the city was seen as vital to getting its name on the global map.

Less than 18 months after the conclusion of the 2016 Rio Olympics, the next Games will be ready to get underway. The 2018 Winter Olympics are scheduled to begin on Feb. 9, 2018 and conclude 16 days later. South Korea last hosted the Olympics in 1988 when the Summer Games were played in Seoul. PyeongChang will be the second Asian City to host the Winter Games, which were played in Japan in 1972 and 1998. Korea will spend $13 billion, nearly four times less than Russia spent on the Sochi Olympics, the most expensive in history.

Much of the discussion in the next year and a half regarding the upcoming Winter Olympics might be regarding the conditions in PyeongChang, rather than the Games themselves. Rio has been criticized for being unprepared to host the event, and some athletes even skipped the Games because of the Zika virus. The phrase “Sochi Problems” became synonymous with the 2014 Winter Olympics as pictures of unfinished construction and subpar housing accommodations circulated throughout the internet.

For the first time snowboarding big air, curling mixed doubles, speed skating mass start and Alpine skiing team will be events at the Olympics.

The International Olympic Committee’s coordination commission announced on October 2016 that the host city’s venues are 90% complete with dozens of test events scheduled for a six-month stretch beginning in November. “We saw firsthand the progress of the construction projects,” said Gunilla Lindberg, the commission’s chairman. “There is no doubt that the venues will be ready for the upcoming test events.”

The emblem for the Games was unveiled on 3 May 2013. It is a stylized representation of the hangul letters ㅍ p and ㅊ ch, being the initial sounds of 평창 Pyeongchang. Additionally the left symbol is said to represent the Korean philosophical trinity of heaven, earth and humanity (Korean: 천지인 cheon-ji-in), and the right symbol to represent a crystal of ice.

To put things into another perspective - 3GPP (leading standards body) is planning on producing first 5G specs in June 2018, mere months before the event kicks off. “Given their enormous global profile, it is perhaps not surprising that the Olympics have been central in driving the timeline for 5G, yet it’s hard to recall many other technologies previously being showcased on this stage in this way,” says Christopher Cave, Director, R&D, InterDigital.  5G is considered the next step in innovating mobile technologies. The high-speed mobile internet will not only allow us to consume high-definition video content on mobile networks, but will also proliferate IoT, and Big Data analytics.

The odds on the Olympics 2018 is in the menu to the left.