The best champs out of lane to counter Olaf include Sivir, Seraphine, and Kalista. These champions are all great at countering Olaf with decent win rates over 62%. Even if these Olaf counter picks are not picked opposite your position, it's not smart to choose him into any of these matchups. They will likely win against Olaf.
Yet, if the opposite team picks either Jayce or Rumble, you should strongly consider taking him, as he easily destroys these champs with win rates over 52% against each ofthem.
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