Elías started playing football at the age of five.[4] He also played both handball and volleyball in his youth and played two games for the Iceland national volleyball team in 2015.[5] He subsequently quit both sports to fully focus on football.[4]
Club career
Elías came through the youth academy of Breiðablik. In July 2018, he was sold to reigning Danish champions Midtjylland.[6][7] In 2019, he was loaned to Aarhus Fremad[8] where he appeared in 20 games.[9] In August 2020, he was loaned to Fredericia.[10] In December 2020, he signed a 5-year contract extension with Midtjylland.[11][12] In September 2021, he was named the Danish Superliga Player of the Month.[13]
On 18 July 2023 it was confirmed, that Ólafsson had joined Liga Portugal 2 club Mafra on a season-long loan deal.[14] After the loan spell Ólafsson returned to Midtjylland.[15]