Olympics betting: Team USA basketball odds plummet after shaky showing in exhibition play

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USA Basketball’s men’s team had a shaky showing in its exhibition schedule in the lead up to the Tokyo Olympics, and the odds have shifted accordingly.

Team USA dropped exhibition contests to both Nigeria and Australia before rebounding with victories over Argentina and Spain. Before the exhibition games began, Team USA was a heavily favored -1000 to win the gold medal at BetMGM, meaning a bettor would need to bet $100 to win $10.

There has been a steady drop since.

Following the Nigeria loss, Team USA’s odds dropped to -800. After the Australia loss, the odds fell to -600. Now with their opening Olympic game just four days away, Team USA is listed at -350 at BetMGM.

That still makes Team USA a significant favorite, but it’s quite a drop from where the odds were just a few weeks ago. Team USA isn’t a very popular bet, either. According to BetMGM, Team USA has received 5.1% of the bets and 7.7% of the money.

The most popular team among bettors is Australia, whose odds have jumped from +2000 to +750 — the second-best behind Team USA. Australia has attracted 44.9% of the bets and 54.3% of the money and is the biggest liability for the sportsbook.

Other big liabilities for BetMGM are Slovenia, which is of course led by Luka Doncic. Slovenia is listed at +2000 and has received 15.2% of the bets and 14.6% of the money. Nigeria, which has a roster full of NBA players, is listed at +2500 and has received 10.1% of the bets and 11.4% of the money.

LAS VEGAS, NEVADA - JULY 18:  Kevin Durant #7 of the United States is introduced before an exhibition game against Spain at Michelob ULTRA Arena ahead of the Tokyo Olympic Games on July 18, 2021 in Las Vegas, Nevada. The United States defeated Spain 83-76.  (Photo by Ethan Miller/Getty Images)
Kevin Durant and Team USA enter the Tokyo Olympics as the betting favorite to win the gold medal. (Photo by Ethan Miller/Getty Images)

Full men’s basketball Olympic odds via BetMGM:

  • USA: -350 (2-7, win $2 when you bet $7)

  • Australia: +750 (15-2)

  • Spain: +900 (9-1)

  • France: +1500 (15-1)

  • Slovenia: +2000 (20-1)

  • Nigeria: +2500 (25-1)

  • Argentina: +3300 (33-1)

  • Italy: +4000 (40-1)

  • Germany: +6600 (66-1)

  • Czech Republic: +8000 (80-1)

  • Iran: +100000 (1,000-1)

  • Japan: +100000 (1,000-1)

More Olympics coverage from Yahoo Sports:

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