2024 Men's Olympic Basketball Odds: USA Opens as Heavy Favorite

Sportsbooks are looking ahead to Paris 2024 with Olympic men's basketball odds posted for the outright winner. USA is a heavy favorite after its FIBA collapse — who else is among the top contenders?

Jan 4, 2024 • 09:52 ET • 4 min read
USA Olympic basketball
Photo By - USA TODAY Sports

While many basketball bettors have their focus turned to the ongoing NBA season, sportsbooks have already gotten the jump on the upcoming Summer Olympics in Paris, France, posting outright odds for men's basketball. 

And while the USA fell flat on its face, failing to medal at the recent FIBA World Cup, there was an immediate swell of support from LeBron James and others, ready to launch a Redeem Team-esque effort. 

As such, the Americans sit as odds-on favorites well ahead of the tournament. Let's break down the Olympic men's basketball odds for Paris 2024.

2024 Olympic men's basketball odds

Country Odds
USA USA -240
Serbia Serbia +400
Canada Canada +600
France France +800
Germany Germany +900
Australia Australia +1,400
Spain Spain +1,600
Slovenia Slovenia +2,000

Odds as of January 4, 2024.

2024 Olympic men's basketball favorites

USA (-240)

No sooner did the final whistle blow on the USA's painful OT loss to Canada for the bronze medal, the cavalry sounded the horns, queueing up the "get the gang back together" montage for Team USA:

And while the country's B-Team may have fallen short of a medal this summer, there's no denying that a motivated roster of America's truly best players should be a heavy favorite, even with the undeniable growth of the international game.

Devin freaking Booker had volunteered himself as a role player on this team, which is all you need to know about the talent level the USA will be trotting out.

Serbia (+400)

Serbia trudged all the way to the World Cup final, losing a hard-fought battle to Germany, which is pretty impressive considering they did so with the best player alive shoveling horse manure back home.

Add Nikola Jokic to the equation, and so much gets unlocked for a tough team that combines NBA-level talent with stout discipline and a thorough understanding of the FIBA game that occasionally trips up North American pros.

Outside of Jokic — who's as seamless a plug-in as any offensive player alive, and whose defensive shortcomings are aided by FIBA rules — Serbia's continuity is one of the best things going for it heading into 2024. This is especially true against the other favorites, whose rosters will likely look wholly different from this summer's competition. 

Canada (+500)

Canada's top-to-bottom roster may be bested only by the Americans in terms of raw talent, but as a nation whose basketball program only recently became a serious presence, there still hasn't been much accomplishment to hang a hat on. 

The bronze OT win over the USA at the World Cup (Dillon Brooks Nation stand up!) was arguably the biggest moment in Canada's national basketball history, but set the expectations for Paris higher than ever. 

There's reason to believe the roster will be better than ever too, with Jamal Murray and Andrew Wiggins among those absent for FIBA. There are also plenty of youngsters on this roster who could improve in the coming year, not excluding Shai Gilgeous-Alexander, who's currently putting up a serious NBA MVP campaign for the Thunder.

The future's never looked brighter for Canada's national team, but they're at the point where they need to be now, instead of next. 

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Previous Olympic men's basketball winners

Here is a list of the last 10 Olympic men's basketball winners:

Year Winner Runner-up Host
2020 United States France Tokyo
2016 United States Serbia Rio Di Janeiro
2012 United States Spain London
2008 United States Spain Beijing
2004 Argentina Italy Athens
2000 United States France Sydney
1996 United States Yugoslavia* Atlanta
1992 United States Croatia Barcelona
1988 Soviet Union* Yugoslavia* Seoul
1984 United States Spain Los Angeles

*Former countries

Understanding basketball odds

Sportsbooks will post a wider variety of Olympics markets closer to the tournament, which are constantly adjusted as teams win and lose games — and if injuries arise.

Basketball futures odds will usually look like this:

  • Canada +1,600

This means that on a $100 bet, you'll stand to win $1,600 if Canada win the gold medal. If there is a particularly dominant nation, you might see that a team has a minus sign (-) ahead of its odds. 

  • USA -150

This means that if you bet on the USA, you would have need to bet $150 to profit $100 if the Americans win the championship.

Above we have posted the American odds for Olympic basketball. However, these are easy to convert to decimal odds or fractional odds with our odds converter tool.

Check out more insight into how to bet on basketball.

Most Olympic men's basketball medals all-time

Country Total Gold Silver Bronze
United States 19 16 1 2
Soviet Union* 9 2 4 3
Yugoslavia* 5 1 3 1
Argentina 2 1 0 1
Spain 4 0 3 1
France 3 0 3 0
Italy 2 0 2 0

*Former country

Where to bet on Olympic basketball

If you're in a state that allows mobile, or online betting, make sure you know which sites are the best basketball betting sites. The best betting sites offer sharp odds, quick payouts and are safe and secure when it comes to depositing and withdrawing your money. 

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