Olympics basketball odds: Does any team have a shot against the U.S.?

The draw and field of teams for the basketball tournaments at the 2024 Olympics got finalized on Sunday. It’s no surprise the Americans are the favorites in both the men’s and women’s tournaments, but who are the main contenders?

The U.S. men are bringing a loaded team led by LeBron James, Stephen Curry, Kevin Durant and Joel Embiid. The Americans are -400 on BetMGM to win gold in Paris.

The American women are an even more overwhelming favorite with -1400 odds. That roster features another stacked cast with the likes of Jewell Loyd, Breanna Stewart, Sabrina Ionescu and Diana Taurasi. Taurasi will become the first basketball player to compete in six Olympics, and this will likely be the 42-year-old’s last hurrah on the Olympic stage.

Olympics men’s basketball odds

All odds from BetMGM.

At least in the odds, Canada is viewed as the top competition for the Americans. Shai Gilgeous-Alexander and Jamal Murray lead the way, but RJ Barrett, Dillon Brooks and Luguentz Dort all averaged double figures in the NBA this past season. In short, Canada is bringing an NBA team, and likely one that would be good enough to make the playoffs, to the Olympics.

The Canadians are in arguably the toughest group, with Australia (which got bronze at the last Olympics), Greece (which features Giannis Antetokounmpo) and Spain (which is ranked second in the world behind the U.S.). The group stage format is forgiving, eliminating only four of 12 teams before the quarterfinals, but at least one of the four teams in that group will not make the cut.

Giannis’ Greece eliminated both Luka Dončić’s Slovenia and Ivica Zubac’s Croatia in the qualifying tournament this past weekend. Greece hasn’t made the Olympics since 2008, but won’t be an easy out with one of the best big men on the planet on the squad.

The U.S. is grouped with Serbia, Puerto Rico and South Sudan. Puerto Rico and South Sudan are two of the biggest long shots to win gold, but Serbia features reigning NBA MVP Nikola Jokić. The Serbians are third in the odds behind the two North American countries.

Olympics women’s basketball odds

The U.S. has won the last seven gold medals on the women’s side and is an overwhelming favorite to do so again. Belgium and China, the nearest contenders in the odds, are long shots at +2000 (20-to-1). China was the runner-up at the World Cup two years ago, and the Americans won that final by 22 points.

Three-time WNBA MVP Lauren Jackson is making her fifth appearance at the Olympics as part of an Australian squad that features several WNBA players. Jackson, 43, currently plays professionally in Australia.

Canada features former WNBA All-Star Kia Nurse and rookie Aaliyah Edwards, who is fresh off helping UConn to another Final Four.

3×3 basketball

If you want to bet on an American basketball team with plus-odds, look to the 3×3 tournaments. The American women are favorites, but only with +180 odds. The U.S. won the last Olympics with Kelsey Plum playing. Plum is playing with the 5×5 team this Olympics. WNBA rookie Cameron Brink was set to play on the 3×3 team but is out after suffering a torn ACL. She will be replaced by her Los Angeles Sparks teammate, Dearica Hamby, who rounds out a roster with Cierra Burdick, Rhyne Howard, and current NCAA star Hailey Van Lith.

The U.S. men (+200) are not even favored in 3×3, coming second in the odds to Serbia (+180). The Americans didn’t qualify for the last Olympics in this category. Former BYU star Jimmer Fredette is on the roster. Defending champion Latvia is +500 to repeat.

(Photo of Joel Embiid and Stephen Curry: Ethan Miller / Getty Images)