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The betting odds for USA Basketball’s men’s team continues to drop.
The U.S. dropped its Olympic opener to France in Tokyo on Sunday, 83-76. It was Team USA’s first loss in Olympic play since 2004. It was a shaky effort as the Americans shot just 36.2% from the field and allowed France’s Evan Fournier to go off for a game-high 28 points.
The France defeat came on the heels of losses to Nigeria and Australia during exhibition play. The U.S. is still the betting favorite, but those losses have made it clear this won’t be the cakewalk many were expecting.
Team USA, winners of the gold medal in six of the last seven summer games, opened as massive betting favorites to win the event yet again at -1000. Following the loss to France, those odds are down to -250 at BetMGM.
Since Olympic play began, those odds have continually dipped. Following the Nigeria loss, Team USA’s odds dropped to -800. After the Australia loss, the odds fell to -600. From there, Team USA rebounded with exhibition wins over Argentina and Spain, but it was clear to bettors that this group was not exactly a juggernaut.
Australia, which opened up group play with an 84-67 win over Nigeria, has been especially popular among bettors. The Aussies opened at +2000, but are now listed at +800 at BetMGM. Australia (31.8%) has received significantly more futures bets than the U.S. (17.3%). More money, however, has gone toward the Americans — 43.3% compared to 24.6% for Australia.
Next in the odds behind Australia are Spain, France and Slovenia. They are all listed at +900 at BetMGM. Like France, Spain and Slovenia are both 1-0 in group play. Spain defeated Japan, 88-77, while Slovenia knocked off Argentina behind a 48-point effort from Dallas Mavericks star Luka Doncic.
With Doncic leading the way, Slovenia has been the third-most popular bet at BetMGM, garnering 17.2% of the wagers and 11.1% of the money. Following its win over Argentina, Slovenia’s odds jumped to +900 from +2000.
Spain is next with 15.9% of the bets and 9.5% of the money. France has received 8.9% of the bets and 5.0% of the money.
Full men’s basketball Olympic odds via BetMGM:
USA: -250 (1-4)
Australia: +800 (8-1)
Spain: +900 (9-1)
France: +900 (9-1)
Slovenia: +900 (9-1)
Italy: +4000 (40-1)
Nigeria: +5000 (50-1)
Argentina: +8000 (80-1)
Czech Republic: +10000 (100-1)
Germany: +10000 (100-1)
Iran: +100000 (1000-1)
Japan: +100000 (1000-1)
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