Sept. 7 (Bloomberg) -- Tokyo and Istanbul advanced to the final vote for the host city for the 2020 Summer Olympics as Madrid was eliminated.
The Spanish and Turkish cities were tied in the first round and went to another vote to eliminate one, a poll won by Istanbul. The final vote was held and the winner between Tokyo and Istanbul will be announced later today.
The finalists made presentations to the International Olympic Committee today in Buenos Aires before 94 IOC members decided on the host. Each city had to face questions this week about its preparations and ability to hold the summer games, which winning bidders often use to improve transport and other infrastructure.
Before the vote, Tokyo was the favorite, according to oddschecker.com, which gathers odds from Internet betting sites. The Japanese capital was 11-10, meaning a successful bet of $10 will return $11 plus the original stake. Madrid was 11-4 and Istanbul 5-1.
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