Big sporting festivals nowadays cost vast sums of money, and that money is never recouped. Other proclaimed advantages to sport owe more to marketing hype than reality. Britain saw no sports participation surge during or after the Olympics. Everyone watched television. Tourism slumped. The same went for the “health dividend”, the legacy dividend and the trade dividend. The chief gain from the Olympics, as from other sporting events, is the boost from extra government money in circulation. At least £9bn was spent on something.