Olympic Basketball Odds Update Ahead of Knockout Stage: Canada Projected as Team USA's Toughest Challenge

Team USA is set as massive favorite ahead of knockout stage of Olympic Men's Basketball

Aug 3, 2024; Villeneuve-d'Ascq, France; United States guard LeBron James (6), small forward Jayson Tatum (10), shooting guard Stephen Curry (4) and center Joel Embiid (11) in the second quarter against Puerto Rico during the Paris 2024 Olympic Summer Games at Stade Pierre-Mauroy. Mandatory Credit: John David Mercer-USA TODAY Sports / John David Mercer-USA TODAY Sports

The group stage of the Olympic men's basketball tournament is in the books and the bracket is set for the knockout stage. Eight teams have advanced to the single-elimination round of the competition and as everyone expected, Team USA is the overwhelming favorite.

Let's take a look at the latest odds to win the gold medal in men's basketball.

Men's Basketball Olympic Gold Medal Odds

Odds via FanDuel Sportsbook

• USA -550
• Canada +750
• Germany +850
• Serbia +3400
• France +4600
• Australia +7500
• Greece +7500
• Brazil +42000

It's a Three Team Race for Olympic Gold

Team USA has been given -550 odds to win the men's basketball Olympic gold, which translates to an implied probability of 84.62%. Besides the United States, two other teams have been given a realistic shot of winning the gold medal. Those two teams are Canada (+750) and Germany (+850).

Both teams have the benefit of being on the other side of the bracket, meaning they won't have to face the United States until the Gold medal match if they make it there. Both teams also cruised to undefeated records in group play. Canada took down Australia, Greece, and Spain for a point differential of +20. Meanwhile, Germany beat France, Brazil, and Japan for a point differential of +47.

By comparison, USA defeated Serbia, South Sudan, and Puerto Rico with a +64 point differential.

If any team has a shot to take down the juggernaut Americans, you have to think it's the Canadians. They have a roster loaded with NBA talent including Shai Gilgeous-Alexander, Lou Dort, Jamal Murry, RJ Barrett, Dwight Powell, and Kelly Olynyk. With that being said, they don't come close to matching up with the dream team of the United States, but the odds would agree that if anyone has outside of Team USA of winning the gold, it's Canada.

USA is set as a 27.5-point favorite against Brazil in the opening round. The other three quarterfinal matches include Serbia (-7.5) vs. Australia, Canada (-6.5) vs. France, and Germany (-8.5) vs. Greece.

The quarterfinals will take place on Tuesday, August 6.

---

Odds refresh periodically and are subject to change.

If you or someone you know has a gambling problem and wants help, call 1-800-GAMBLER.