Budget overruns are common for the Games. Average overrun for Games since 1960 is 156% in real terms, which means that actual costs turned out to be on average 2.56 times the budget that was estimated at the time of winning the bid to host the Games. Montreal 1976 had the highest cost overrun for Summer Games, and for any Games, at 720%; Lake Placid 1980 had the highest cost overrun for Winter Games, at 324%. London 2012 had a cost overrun of 76%, Sochi 2014 of 289%.