Betting on the Summer Olympics?

The 2024 Summer Olympics in Paris will showcase the world’s elite athletes competing for national pride and coveted medals.

The opening ceremony kicks off today (Friday, July 26th) at 1:30pm EST.

Why wouldn’t sports bettors want to get in on the action?

In This Guide

• Can Any Country Top the USA in Gold Medals?

  • Breaking Down Gold Medal Projections

• Men's Basketball: Betting Tips & Top Contenders

  • Group Play: Key Matchups and Seeding

  • Top 5 Teams to Watch: Power Rankings & Predictions

  • Our Top Pick for Men’s Basketball Gold

  • Sleeper Pick for Men’s Basketball

• Men’s Soccer: Top Contenders and Betting Insights

  • Top 5 Teams to Watch: Power Rankings

  • Top Pick to Win the Gold

  • Is It Worth Betting the USMNT?

• Men’s Tennis: Top Contenders and Betting Tips

• Wrapping Up

Can Any Country Top the USA in Gold Medals?

Over the years, the United States has dominated at the Olympics, followed most closely by China.

They are the favorites to win the most Gold Medals this year.

If you want to take one of the long shots (pretty much any country except the US), it’ll be one of the riskiest bets you place this Olympics.

And at -2500, betting on the United States isn't a great option either.

Breaking Down Gold Medal Projections

If you want skin in the Gold Medal market, Country Totals may not be a bad idea.

Forget everything you remember about gold medal totals in previous Olympic games.

With 4 years between every contest, you can probably imagine how much teams, athletes, and even rules in sports change.

Here’s how many Gold Medals the US have gotten in the past 5 Olympic Games:

• 2020 Tokyo: 39

• 2016 Rio: 46

• 2012 London: 48

• 2008 Beijing: 36

Sportsbooks calculate these totals by looking at each event, and the odds of that respective country winning the Gold.

For example, their total for the US probably assumes that the US wins the Gold in Men’s Basketball, and that they won’t win the Gold in Men’s Soccer.

• If the US grabs the Gold in Men’s Basketball, Kevin Durant will become the first male athlete to win four gold medals in any team sport.

The Gold Medal Totals for the most bet countries are:

1. USA: 41.5

2. China: 34.5

3. France: 24.5

4. Great Britain: 14.5 (opened at 17.5)

Men’s Basketball: Tips and Top Contenders for Gold

Group play for Men’s Basketball begins on July 27 in Paris.

While Team USA is the overwhelming favorite at -500, they should by no means be considered a lock.

(Remember the South Sudan and Germany exhibition games?)

Far behind USA, Canada comes in as the second favorite with France hot on their tail.

The strength of international basketball has never been higher, and several teams are ready to give the Americans a serious challenge.

Group Play: Key Matchups and Seeding

The 12 teams make up the following groups:

Yes - The US is in the same group as South Sudan 👀

Each team plays against every team in their group once.

• The top two teams from each group advance to the quarterfinals.

• The top two third-place teams across all groups also advance.

Quarterfinal Draw

A random draw determines matchups with two key rules:

• The two highest-ranked teams are placed on opposite sides of the bracket.

• Teams cannot face group opponents in the quarterfinals.

Single-Elimination Tournament

• Quarterfinal winners advance to the semifinals.

• Quarterfinal losers are eliminated.

Semifinal losers compete for the bronze medal, while the winners move on to the gold medal game.

Top 5 Men’s Basketball Teams to Watch: Power Rankings and Predictions

Which teams have a realistic shot at winning the Gold?

1) United States

Much like we are used to, USA is a heavy favorite with a star-studded roster.

Notable Players: Pretty much the entire team.

Team USA boasts overwhelming talent but often faces challenges adapting to FIBA rules.

The differences in game speed, court size, and physicality can impact their performance.

We’ve already seen players like Joel Embiid struggle to translate his game to the international court.

Despite these challenges, they remain heavy favorites for gold.

Most of the NBA (~65%) are eligible to play for Team USA.

While this number shrinks each year, Team USA essentially has its pick of the litter.

Defensive Strength

• Players: Bam Adebayo, Anthony Davis, and Jrue Holiday.

• Accolades: Adebayo and Davis made the NBA’s All-Defensive First Team; Holiday was on the All-Defensive Second Team.

Defense is expected to lead the way for Team USA.

Offensive Strength

Don’t get me wrong, any player on this team can score.

But they are especially strong from deep - six players shot 37% or better from three-point range in the last NBA season.

The Bottom Line: They have the most talent and depth in this tournament, and won’t go down without a fight.

2) Canada

Canada has an impressive roster filled with NBA talent, making them a strong contender.

They have a deep guard lineup and are considered the second-best team in the tournament.

Notable Players: Shai Gilgeous-Alexander, Jamal Murray, RJ Barrett, Lu Dort, Andrew Nembhard

They finished third in the FIBA World Cup last summer, defeating a different American squad in the bronze medal game.

The team has shown significant improvement and is poised for a strong performance.

Strengths

There’s no doubt that Shai Gilgeous-Alexander leads this Canadian team. He finished fourth in regular season scoring (30.2) and second in MVP voting.

This team has strong offensive capabilities, with Lu Dort providing elite on-ball defense against top perimeter threats.

Weaknesses

This is a team that will struggle in the front-court.

They will be undersized compared to most opponents they play, and won’t have the rim protection that they’ll need.

Key Takeaway: Competing against teams with strong front-court presence (USA, France, Serbia) could be their Achilles heel.

Despite these challenges, Canada's backcourt depth and star power make them a formidable contender aiming for their first Olympic medal since 1936.

3) France

Playing on home turf gives France a psychological edge.

They combine experienced players with emerging stars, and have the scariest front-court in this tournament.

While their backcourt may not be strong enough to defeat Team USA, they are certainly capable of securing a medal.

Notable Players: Victor Wembanyama, Nic Batum, Rudy Gobert, Evan Fournier

Much like Team USA, France is expected to be a defensive powerhouse in this tournament.

Strengths

Playing on home turf provides France with a significant advantage.

The addition of Wembanyama, who was absent during their FIBA World Cup group play elimination, further bolsters their prospects.

Defensive

Victor Wembanyama and Rudy Gobert form a formidable duo, with Wembanyama's versatility allowing him to play power forward next to Gobert without compromising offense.

This pairing combines the reigning Defensive Player of the Year with the runner-up.

Bilal Coulibaly, Frank Ntilikina, Evan Fournier, and Nicolas Batum provide strong wing defense, making France the best defensive team in the field.

Offensive

Isaia Cordinier, Nando De Colo, and Guerschon Yabusele shot 39% or better from deep last season.

Batum, Wembanyama, and Fournier are also reliable shooters, ensuring the opposition must respect their perimeter game.

The Bottom Line: France's combination of elite defense and solid shooting makes them a serious contender for a medal. Even the Gold.

4) Germany

Germany's strength lies in their continuity and experience.

Coming off a gold medal at the 2023 World Cup, they play a style suited to FIBA rules, making them a tough competitor.

Notable Players: Dennis Schroeder, Andreas Obst, Franz & Mo Wagner

Germany will rely heavily on the leadership of Dennis Schroder, Franz Wagner's versatility, Daniel Theis' presence in the paint, and Johannes Voigtmann's shooting and basketball IQ.

• Facing France in Group B will be a strong early challenge.

Germany's experience and continuity could be advantageous in navigating this tough matchup.

This will be coach Gordon Herbert’s last tournament, marking the end of an era for the architect of Germany's basketball success.

The Bottom Line: Despite lacking the star power of other teams, Germany’s proven track record in international competitions and cohesive team play make them a formidable contender in Paris.

5) Serbia

Serbia is well-coached and plays smart, cohesive basketball.

Led by one of the world’s top players (Nikola Jokic), they are dangerous but lack depth.

The team's strategic advantage of avoiding the U.S. in the quarterfinals makes them a strong contender.

Notable Players: Nikola Jokic, Bogdan Bogdanovic, Filip Petrusev, Ognjen Dobric

Serbia will have to rely on controlling game tempo to contend for a medal.

Matches against Puerto Rico and South Sudan should favor Serbia to advance to the semifinals.

Their exhibition games held mixed results, with losses to the U.S. and Australia but wins against Greece, Japan, and France.

Serbia's experience means they likely didn't show their full capabilities in exhibitions.

This is a seasoned group that knows how to perform under pressure.

If they make it past the group stage (they should), they have a favorable path to the gold medal game.

The Bottom Line: Serbia's combination of top-tier talent and strategic seeding makes them an extremely dangerous team in this year's Olympics.

Our Top Pick for Men’s Basketball Gold

Our pick for the gold is France (+1400).

Why?

France's defensive potential is off the charts.

With Wembanyama and Gobert anchoring the front-court, scoring at the rim becomes a daunting task for opponents (even the US).

Coulibaly adds elite wing defense, and Batum and Fournier remain strong defensive contributors.

France boasts a solid front-court and a lineup of proficient shooters.

Opponents will need to exert extra effort on both offense and defense.

While Germany is a formidable opponent, Japan and Brazil are longshots. This gives France a clear path to the quarterfinals.

The Key to France’s Olympic Success

The biggest question is how France’s backcourt will perform.

Andrew Albicy is undersized, and Ntilikina, while a good defender, lacks offensive prowess.

It helps that France’s defense will limit their need for great offense, but it should be noted.

As the host nation, I expect France to benefit from strong home support.

As they advance, this presence will only compound.

Their toughest matchup will no doubt be Team USA.

At +1400, it’s hard not to see the value in taking France.

Sleeper Pick for Men’s Basketball

Germany Stage Of Elimination - Semifinals (+270)

Germany should have no problem making it out of the group stage, and it will be interesting to see how their group stage game against France plays out.

Why?

This team has shown that they know how to play FIBA ball, and they do it very well.

The biggest obstacle this bet faces is how Germany’s draw plays out.

With the exception of the US and France (teams can’t play their own group in the quarterfinals), Germany outmatches (and should beat) the other teams in this bracket.

The value of +270 makes it worth throwing some coin this team’s way.

Men’s Soccer: Top Contenders and Betting Insights

Sixteen teams will compete for the gold, silver, and bronze medals.

Due to the number of matches to be played, these games started on July 24th.

• Completed Matches as of July 26

  • Spain (2) - Uzbekistan (1)

  • Morocco (2) - Argentina (1)

  • Egypt (0) - (0)

  • New Zealand (2) - Guinea (1)

  • Japan (5) - Paraguay (0)

  • Iraq (2) - (1)

  • Mali (1) - Israel (1)

  • France (3) - USA (0)

The teams are initially split into four groups of four, with the top two in each group advancing to the quarterfinals.

The top two teams from each group move on to the knockout stage.

Before we really get into it, throw everything you know about international soccer teams out the window.

Seriously.

This tournament requires that countries can only select players under 23 years old.

However, each nation can invite up to three over-age players.

Past stars like Neymar and Lionel Messi have featured as wildcards (but no Messi this year).

Notable Absences

Brazil, winners of the last two Olympics, failed to qualify this year.

England, despite winning the Under-21 European Championship, is absent due to concerns about losing independence in future tournaments if they combine with Great Britain for the Olympics.

They would’ve been among the favorites to bring home Gold.

Betting Odds

Primarily a youth competition, the Olympic men's soccer tournament often sees underdogs making deep runs.

This is largely due to the smaller talent gap among the top sides, as young players are still developing compared to their senior counterparts.

Additionally, some of the most notable young stars (like Lamine Yamal of Spain, Bradley Barcola of France, and Alejandro Garnacho of Argentina) are absent, needing rest after recent major international tournaments.

Top 5 Men’s Soccer Teams to Watch: Power Rankings and Predictions

1) Spain +260

Having just clinched the Euro 2024 title in Germany, Spain, under coach Santi Denia, is poised for further success in France.

The squad, filled with talented under-23 players like Pau Cubarsi, aims to add to their 1992 gold medal and improve upon their silver finishes in 1920, 2000, and 2020.

Don't bet against Spain making it a double summer celebration.

2) France +230

The French hosts, led by Thierry Henry, are just outside the favorites.

Although they struggled to secure their biggest names, the squad remains talented.

France's recent performance includes reaching the 2022 World Cup final and the Euro semifinals this summer, ensuring they remain a formidable force on home soil.

3) Argentina +275

Argentina, the current World Cup and Copa America champions, enter the tournament under Javier Mascherano.

Despite their recent major victories, they have shown inconsistent form leading up to Paris, making them slight underdogs compared to Spain.

*Note that they lost their first match against Morocco 1-2.

However, if both teams win their groups, they could be on opposite sides of the knockout draw.

4) Morocco +1100

World Cup semifinalists in 2022, Morocco, led by Achraf Hakimi, aim to live up to their impressive billing.

While not considered strong favorites, the Atlas Lions will be tricky opponents, leveraging their experience and tactical prowess.

Their win against Argentina wasn’t a fluke.

Don’t be surprised if they steal a game or two in the tournament.

5) USA +1600

Following a disappointing Copa America campaign, the U.S. looks to the Olympics for redemption.

Instead, they started with a 3 goal loss to France.

Group A, featuring France, presents an obvious challenge, and an experimental roster adds to the complexity.

Coach Marko Mitrovic faces a testing situation with untested internationals, but the Olympics could provide a much-needed positive platform for U.S. soccer.

A “win” for the USA would be making it out of the group stage.

Predictions for Men’s Soccer Gold: Which Team Will Triumph?

Spain +260

Spain looks poised for a strong run in the 2024 Olympics, boasting a squad that's both deep with young talent and set up for a favorable draw.

Despite the absence of young stars like Lamine Yamal and Nico Williams, who are resting after heavy Euro 2024 minutes, Spain has an abundance of quality youth players and key overage exemptions.

Key Players

• Fermin Lopez: Expected to have a breakout tournament following a strong year with Barcelona.

• Pau Cubarsi: At just 17 years old, he will be a defensive bonus, partnering with Eric Garcia to form one of the tournament’s most formidable defensive duos.

• Eric Garcia: A seasoned defender who will bring experience and stability to the backline.

• Arnau Tenas: The goalkeeper who serves as a backup to Gianluigi Donnarumma at PSG, ensuring solid protection between the posts.

For over-age players, Spain brought in Juan Miranda, Sergio Gomez, and Abel Ruiz.

Miranda and Gomez solidify an already impressive defense, and Abel Ruiz adds another explosive attacker.

With such a well-rounded squad and a favorable draw, Spain is set to be a top contender for the gold medal in Paris.

Is It Worth Betting the USMNT?

Simply put, no.

I wouldn’t bet on them for Gold (+1600) or to win Group A (+400).

Following the match against France, the U.S. should handle Guinea and New Zealand effectively.

Despite some surprising omissions of home-based players, the inclusion of European club talents suggests that the U.S. has the potential to make a deep run in the tournament.

Notable Absences

Largely due to wear and tear from the recent Copa America tournament, key US players we usually see aren’t on the Olympic roster.

• Christian Pulisic (25)

• Weston McKinnie (25)

• Folarin Balogun (23.3)

• Giovanni Reyna (21)

• Timothy Weah (24)

Key Players

Walker Zimmerman: Included as a wildcard after missing the Copa America due to injury.

His partnership with Miles Robinson should provide a strong defensive foundation.

Miles Robinson: A reliable defender who, alongside Zimmerman, will anchor the backline.

Kevin Paredes: The 2023 U.S. Soccer Young Male Player of the Year, based in Germany, brings significant talent and promise to the defense.

The Bottom Line

Historically, the U.S. has struggled in youth international tournaments.

This year's squad doesn’t inspire much more confidence.

Several key players were refused call-ups by their clubs, and the absence of Diego Luna is puzzling.

Given these challenges, the U.S. is not expected to be a title contender and could even struggle to advance past the group stage.

Men’s Tennis: Top Contenders and Betting Tips

The men's tennis tournament will follow a best-of-three format, with all sets featuring traditional seven-point tiebreakers if necessary.

Here are the odds for the top 27 contenders.

Note that Jannik Sinner, the best player throughout most of 2024, withdrew from the Olympics.

Here are the top contenders to watch in Paris:

Carlos Alcaraz -125

Alcaraz is our favorite to win this tournament.

Representing Spain, Alcaraz recently won the French Open, held at the same venue as the Olympics.

He has the highest clay-court Elo rating in this tournament (he’s good on clay), has unmatched speed, and exceptional topspin and baseline power.

His game is perfectly suited to this tournament.

It’s no surprise that Alcarez enters the tournament as the favorite, given his recent success and surface compatibility.

Novak Djokovic +250

The 24-time Grand Slam champion has had an inconsistent 2024 but found his form at Wimbledon.

He has a precise serve, elite return game, and well-rounded baseline play.

Djokovic is also strong at the net and highly motivated to win his first Olympic gold for Serbia.

Despite being 37, Djokovic remains a top contender due to his physical conditioning and unparalleled skill set.

He wouldn’t be a bad one to tail, but keep an eye on wear and tear.

Casper Ruud +1200

If you’re looking for a longer shot, Ruud at +1200 is some great value.

Recent Struggles

Casper Ruud faced criticism after an early exit at Wimbledon, but his prowess on clay cannot be overlooked.

Despite an illness, Ruud reached the semifinals of the French Open this year, losing to Alexander Zverev after taking the first set.

Ruud’s Advantage

As a two-time French Open runner-up, Ruud thrives on this surface.

Ruud excels in slower conditions with a solid serve, powerful topspin-heavy baseline shots, and elite court movement.

Ruud’s skillset makes him a formidable contender for gold in Paris - don’t be surprised if he sneaks up and secures a victory for Norway.

Rafael Nadal +900

It’s easy to dismiss Rafael Nadal after his opening-round loss to Zverev at the French Open.

However, Nadal offers significant value in this tournament.

The Spaniard skipped Wimbledon to focus solely on clay-court tennis, dedicating himself to getting his body right.

If he can avoid setbacks, Nadal could perform wonders.

A Tough Draw

Nadal shouldn’t have trouble in his first matchup, but will likely see Djokovic in the next round if he advances.

Here’s how they match up:

If they do meet, it’ll be a good one to watch.

I’ll be playing Nadal at +210 or higher.

Nadal’s Edge

With a 112-4 French Open record and 14 titles, Nadal remains the King of Clay.

At 38, he benefits from the best-of-three format, reducing the physical strain of longer matches.

Additionally, Nadal’s powerful baseline game and ability to break opponents' serve make him a tough competitor.

While he can’t grind out long rallies like before, he still excels in finding winners and holding serve.

The Bottom Line

There are a number of contenders who could take home the gold in this tournament.

Even at -125, it’s hard to pass on taking Alcaraz to win it all.

If you’re looking for someone with higher odds, Ruud and Nadal are strong choices.

Wrapping Up

The 2024 Summer Olympics in Paris promise thrilling action and exciting opportunities for sports bettors.

Stay ahead of the game and subscribe to Building Bankroll for more expert betting insights and tips.

Don’t miss out on your chance to make the most of this Olympic season!