Lake Placid is best known as the two-time site of the Winter Olympics, in 1932 and 1980. In the United States, the village is especially remembered as the site of the 1980 USA–USSR hockey game the Miracle on Ice, when a group of American college students and amateurs upset the heavily favored Soviet national ice hockey team 4–3 and two days later won the gold medal. The victory is often ranked as the greatest in American sports history. It is also the site of the Olympic Oval, where Eric Heiden won his five Olympic gold medals.
During the 1980 Olympics, Lake Placid Middle/High School was issued an alcohol license. The school served as a private bar during the Olympics. It is the only high school in the United States to be issued an alcohol license.