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Olympic Basketball Odds: Can USA Win Double Gold?

Damian Lillard and Team USA are favored in Olympic basketball odds for the Tokyo 2020 Olympics.

One of the most popular sports in the Olympic Summer Games, basketball started up on July 24 for the men and July 25 for the women at the Tokyo 2020 Olympics.

Both tournaments should be filled with the drama and intrigue requisite of a high-profile Olympic event, and fans will certainly be tuned in to watch some of the athletes who make their living in North America.

But when it comes to picking winners in Olympic basketball odds, one nation stands tall (literally) above the rest for both the men and women.

The United States has won six gold medals in a row and eight of the last nine in women’s basketball, while the men have won gold in 15 of the 19 Olympics with basketball as an event, including each of the last three and six of the last seven.

Online sportsbook Bovada has released Olympic basketball odds for the Tokyo 2020 Games and, as expected, the U.S. is the heavy favorite in both men’s and women’s basketball.

Check out the table below for the latest Olympic basketball odds and read below to find out the best bets and values as well as some other Olympic basketball props.

How to bet on the Olympics | Odds for most gold medals | Odds for most medals

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Olympic basketball odds: Who will win gold in men’s basketball?

Odds to win Gold in men’s basketball
Czech Republic+20000

Odds as of July 30 at Bovada

Opening the Olympics with a starting lineup of Damian Lillard, Zach LaVine, Draymond Green, Kevin Durant and Bam Adebayo, Team USA has put together a roster that simply cannot be matched in terms of talent in this event.

And while Bradley Beal did not go to Tokyo due to health and safety protocols related to COVID-19, the American depth players (Jayson Tatum, Devin Booker, Jerami Grant, Jrue Holiday, Khris Middleton) would pretty much all be starters on the other participating teams.

The team isn’t without warts, however, as they lost back-to-back games against Australia and Nigeria in exhibition matches ahead of the Games. But the team is simply too talented not to be the rightful heavy favorite in Olympic basketball odds.

Other Men’s Olympic basketball odds contenders

Spain (+1000)

Second in Olympic basketball odds, Spain has a roster with several current or former NBA players such as Marc and Pau Gasol, Willy Hernangomez (Pelicans), Ricky Rubio (Timberwolves) and Rudy Fernandez (formerly with the Nuggets and Trail Blazers).

Spain won the bronze medal in this event in Rio in 2016 and took home silver medals in 2012 and 2008. Spain won the 2019 FIBA World Cup and is currently ranked No. 2 in the FIBA world rankings, behind the U.S.

Australia (+850)

Australia boasts a roster that includes Patty Mills (Spurs), Joe Ingles (Jazz), center Aron Baynes (Raptors), Josh Green (Mavericks) and Cavaliers guards Dante Exum and Matthew Dellavedova. Tied for second in Olympic basketball odds, Australia should be in medal contention after reaching the semifinals in Rio in 2016.

France (+900)

One of the more intriguing rosters in the event, France has the reigning NBA Defensive Player of the Year in Jazz center Rudy Gobert as well as several other NBA players including Nicolas Batum (Clippers), Evan Fournier (Celtics), Timothe Luwawu-Cabarrot (Nets) and Frank Ntilikina (Knicks). France won the bronze medal at the 2019 FIBA Basketball World Cup.

Best Bet: USA (-250)

Sure, you’re getting plenty of value to bet on Spain or France, but it would be an upset of epic proportions if the U.S. were to win anything but the gold medal. The team is simply too stacked, and we expect them to jell as the event goes on.

Olympic basketball odds: Who will win gold in women’s basketball?

Odds to win Gold in women’s basketball
Puerto Rico+50000
South Korea+50000

Odds as of July 29 at Bovada

Best Bet: USA (-800)

Stacked with some of the best women’s basketball players on the planet, the U.S. is a virtual lock for its seventh consecutive gold medal at the Olympic Summer Games.

Diana Taurasi and Sue Bird would become the first players ever to win five Olympic gold medals in basketball if their team finishes atop the podium in August. The likes of Sylvia Fowles, Brittney Griner, Breanna Stewart, Tina Charles and 2020 WNBA MVP A’ja Wilson lead the star-studded roster.

And while Australia, France and Canada have put together quality rosters, the U.S. losing the women’s gold medal would be an even bigger upset than the men losing.

This team and program is so dominant it would be silly to bet on any other team to win outright in Olympic basketball odds – even if you aren’t going to make much money on the bet.

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Other Olympic Basketball Odds Props

Olympic basketball odds: Top-3 finish in mens basketball

Odds to finish in the top 3 in men’s basketball
Czech Republic+4000

Odds as of July 30 at Bovada

With the U.S. so heavily favored in Olympic basketball odds, this prop gives bettors a chance to bet on who will finish on the podium.

Spain, Australia, France and Slovenia all have legitimate shots at a medal and a couple other countries are interesting dark-horse candidates. This is one of the more fun bets in Olympic basketball odds. 

Olympic basketball odds: USA vs the field in mens basketball

USA vs the field

Odds as of July 30 at Bovada

The odds are much better if you think you can identify a non-USA team to win gold in men’s basketball, but this prop gives bettors a better chance by capturing all non-USA teams on one side.