Basketball is one of the world’s most-played sports and easily the top sport in the USA and several European and even African countries. There are many reasons why basketball has gained a worldwide following, one of which is that it’s a trendy sport to bet on.
All legal US bookies and even international Bball bookmakers will have excellent coverage of basketball games. You can be certain that you will be able to bet on all major basketball competitions, no matter which sportsbook you visit. And when we talk about significant basketball competitions, very few can compare to the Olympic Games.
Basketball has been an Olympics medal event since 1936 and will continue to be a part of the Summer Olympics for years to come. So if you’re looking to learn how to bet on the basketball Olympics, you’ve come to the right place!
By reading this post, you will learn 4 essential things you should know before you place your first Olympic basketball bet, including:
- Where to find the best Olympic basketball betting sites?
- How to read Olympic basketball odds?
- What bet types are available for betting on basketball Olympics?
- What are tips and tricks for betting on Olympic basketball?
Best Olympic Basketball Betting Sites
Finding a sportsbook that will accept your Olympic basketball bet is extremely easy because almost all online sportsbooks offer at least some coverage of the Olympic basketball games. But while you won’t struggle to find a bookie that will offer Olympic basketball betting lines, it’s important to pick the right one.
Before you pick a sportsbook, you have to check whether it has good Olympic basketball betting odds, whether its coverage is good enough – with enough wagering markets – and if the bookie is trustworthy, legal, and regulated. If you locate a bookie that checks those marks, you’ve found a solid sportsbook.
You should also watch any promotions, offers, or free bets the bookies might have. It is not as important as the odds quality, but it never hurts to bet on a sportsbook that can provide you with promotions and bonuses.
Offers & Promotions
Betting on basketball, especially at the Olympics, can be highly entertaining, and there is no shortage of people who want to do it. And yet the Bball bookmakers have to fight to gain the attention of basketball bettors who will come to their platform and wager there – and the best way to do it is by providing bonuses, promotions, and various other offers.
As a result, you can rest assured that most sportsbooks will have some promotions ready every time the Olympics are on, and those can come in many shapes and sizes. From free bets to special odds boosts, extended in-play betting markets, reload bonuses, accumulator bonuses, etc.
The selection of basketball promotions is seemingly endless. Still, some bookmakers provide better offers than others, so it’s wise to check what proposals a bookie can offer you before making an account. Still, you should always prioritize the qualification of the Olympic basketball betting odds and the market accessibility.
Olympic Basketball Odds
Basketball Olympics odds are posted on all top legal US sportsbooks, international bookmakers, and all reputable online bookmakers. That’s expected for one of the world’s most prestigious basketball tournaments, but while the odds are available almost everywhere, you should know they’re not the same on all sportsbooks.
Often, you will find 2 bookmakers price the same game with different odds. For example, 1xBet can have the USA priced at 1/2 to defeat Brazil, whereas FanDuel’s USA Olympic basketball team betting odds could show 4/6. The same principle applies to all other sports or tournaments. Further, it proves that holding accounts with multiple bookies has its advantages: the ability to find and bet with better prices.
You need to know how to read Olympic basketball odds, but that will come easy for anyone who has placed a bet on basketball before. It’s also worth noting that the latest odds on Olympic basketball might be written in one of the 3 formats – decimal (1.5), Fractional (4/6), or American (-155). But you only really need to know how to read one since all sportsbooks allow you to change the odds format on their site.
Olympic Basketball Specials
There are many ways you can approach betting on Olympic basketball, but first, we’ll touch on 2 categories that allow you to bet on separate special teams, albeit with the same wager types and in the same way. We’re, of course, talking about the ability to bet on either men’s or women’s teams and players.
Betting on the men’s Olympic basketball team is the most common way punters approach betting on Olympic basketball, and it’s very straightforward. All you need to do is navigate to the Olympic men’s basketball odds, pick the wager you want and place your bets.
There are no special tactics on how you should approach betting on men’s teams compared to how you would bet on women’s teams, and very rarely will you find any promotions exclusively available for men’s basketball. But know that since betting on men is more popular, you can expect higher limits.
Of the 2, the men’s Olympic basketball tournament is the most popular, which is a trend that is prevalent across most sports. But that doesn’t mean that there are any disadvantages to betting on women’s basketball.
You might be able to find more value when looking through Olympic women’s basketball odds since the markets will be much more volatile due to lesser liquidity. That comes with lower limits, but that shouldn’t bother you unless you’re a high roller.
It is also why many punters prefer betting on women’s basketball, as it can be easier to find great bets. Know that this is not a rule but rather something you might encounter. You should bet on what you like and, most importantly, the game you feel most confident in.
Now that we know that you can easily bet on either men’s or women’s Olympic basketball, it’s time to look at what bet types are available to you. And like with any other form of basketball betting, there are many to choose from, yet only a few stand out as the most popular.
Match Result (Moneyline)
Using the moneyline is the simplest way to approach placing a bet on Olympic basketball. With it, you’re betting on the team’s chances to win a particular game, so you’re essentially just placing a wager on which team you believe will win.
It doesn’t matter how much a team wins or how they do it; the only thing that matters is the final result. But while betting on the moneyline is the most popular form of betting, the moneyline odds tend to be more skewed and sometimes don’t offer as good betting opportunities.
That is most noticeable when you have a match between strong favourites and complete underdogs. For example, in a game between the USA and Australia, 22Bet would price the USA team at 1/10 and Australia at 13/2.
In this example, a $100 bet on the USA would only earn you a $10 profit. So even though the USA is highly likely to win, there are other ways to increase your profit betting on them, most notably with point spreads.
Point spread (or handicap) betting is similar to moneyline, but it offers a lot more flexibility when picking your wagers, and it comes into play in matches featuring 2 teams that are not equal.
The point spread is essentially a way for the bookmakers to even the playing field between 2 teams that aren’t of the same caliber. In the example above, the USA is significantly stronger than Australia, so the oddsmakers will level the playing field by offering a negative point spread on the USA and positive points spread on Australia.
In this example, a bookie would offer a +16.5 spread on Australia and a -16.5 spread on the USA, since it believes that the USA is 16.5-points stronger than Australia. Know that the Olympic basketball betting line (or the offered spread) won’t be the same and will change depending on the perceived strength of the teams.
In this example, you can bet on the USA with -16.5 points spread if you believe that the USA team will win with at least 17 points to spare. Alternatively, you can bet on Australia with a +16.5 spread if you think they’ll win, draw, or not lose by more than 16 points.
The Olympic basketball betting line odds will always be set at 10/11 (1.90 or -110), meaning you will have to risk $110 to earn $100. Luckily, alternative points are spread, allowing you to bet on whichever handicap you want.
Total Points (or over/under) offers an alternative way of betting on Olympic basketball. Instead of predicting which team will win, the over/under instead focuses on the total number of points in a game.
Know that totals can also be used for any other statistic in a game (fouls, outs, technical fouls, 3-pointers made, etc.), but it’s most commonly used for betting on the total number of points. The sportsbooks will set a number (or line) that they believe correctly shows how many points the teams should score in any given match, and then you can decide whether the actual score will be higher or lower than the presented line.
It’s a very simple concept, as you’re only wagering on whether the combined score in a game will reach over or under the presented number. Like points spread, the Olympic basketball betting line wagering odds on totals will be set at 10/11 (1.90 on EU bookies or -110 with vegas odds), meaning you need to wager $110 to profit $100.
Similar to the points spreads, totals also offer alternative lines, providing you with more flexibility to pick your bets.
Futures or future bets are single wagers you make on an event that will happen in the future, and most commonly, this bet type is used to predict which team will win the title. So if you’re looking for Olympic basketball futures, you can easily find them under the Olympic basketball gold medal odds.
Future bets in Olympic basketball work the same way as futures you will find on any other sporting event – Super Bowl, NBA, and UEFA Champions League. Moreover, futures are very popular amongst bettors, mainly because the odds are generally very generous and can easily reach double digits.
How to Bet on Olympic Basketball
We have covered all the basics about betting on Olympic basketball, where to find the best odds, and which bets are available to you. You’re almost ready to start betting on Olympic basketball with all that knowledge, but we still need to cover a few more things.
Before we get into the final part of our article, let’s sum up everything we have learned and look at a step-by-step guide of what you need to know and do if you want to succeed in betting on basketball.
- Find a reputable, legal, and licensed bookmaker that can provide you with competitive Olympic basketball odds and enough market depth.
- Bonuses and promotions can be helpful and shouldn’t be ignored, but know that the odds quality and market depth are far more essential features you should look for in a bookie.
- Preferably you should create accounts with several bookmakers for price shopping. MyBookie and 1xBet – or any other pair of bookies – won’t have the same betting odds, so make sure to shop around for the best prices.
- Get as much information on the games as you can before making your picks. The best and most efficient way to do so is by reading through betting previews or by visiting sports gambling sites with data and stats on the teams.
- In-play betting can be highly profitable, so consider registering with a bookmaker that can offer in-play betting markets.
- Find a strategy that suits your wagering style, learn bankroll management, and stick to it.
Olympic Basketball Live Betting & Live Streaming
Live betting (or in-play betting) is easily one of the most exciting ways to approach wagering on Olympic basketball or any other sport or tournament. As the name would suggest, in-play betting is wagering on games while they happen, offering an alternative way of betting on your favourite sport.
If you want to bet in-play, you need a few things:
- Stable internet connection
- A sportsbook that accepts in-play bets
- Live stream of the games
- Good knowledge of the sport
In-play betting is mostly reserved for the more experienced bettors whose knowledge of the sport, teams, and players is excellent. With live betting, you need to make decisions in a split second, and you can only achieve that if you know what you’re doing. That might sound like live betting is exclusive to experts, which isn’t necessarily the case.
Anyone can bet in-play and profit from it, and realistically, it doesn’t take a lot to get good at it. But if you want to test out live betting, make sure that your sportsbook offers in-play odds and has live streaming options. Live betting will be impossible or extremely difficult without either of the 2.
Olympic Basketball Betting Tips & Predictions
If you don’t want to bet in-play, you can always take the more traditional route and wager on the pre-match markets. This approach isn’t necessarily worse, and it is much easier to execute since you have a lot more time to find good betting picks.
However, it still requires you to invest time to look over all the available data, team news, statistics, trends, and everything that can help you make smart betting picks. It might sound like a tedious task, and it is, but there’s a shortcut.
The best and easiest way to get a hold of valuable information about the next match that will help you place wagers is by listening to betting experts and reading through their previews of the games. Most betting previews will also have wagering predictions, picks, and tips that you can trail – or you can use the betting previews as a source of information to make your own decisions on what to bet on.
Olympic Basketball Overview
As our article draws to a close, it’s time to look at some interesting facts about Olympic basketball and Olympic basketball betting you might not know about.
- The United States won the Olympic basketball title 25 times and is the most successful nation in the tournament’s history.
- Interestingly, the second and third-most successful countries are the Soviet Union (4 gold, 4 silver, 4 bronze) and Yugoslavia (1 gold, 4 silver, 2 bronze), which don’t exist anymore.
- Throughout Olympic basketball history, only 5 nations ever won gold – the USA, Soviet Union, Yugoslavia, Argentina, and the Unified Team (former the Soviet Union)
- Some of the most successful individual players of Olympic basketball include Carmelo Anthony, Gennadi Volnov, Sergei Belov, Kevin Durant, David Robinson, LeBron James, Krešimir Ćosić, and Dražen Dalipagić.
- Olympic basketball is one of the most prestigious basketball tournaments, besides FIBA World Cup, European Championships, South American Champ, Asian Championships, and African Championships.
- Some of the most popular and legal online bookmakers for Olympic basketball betting include MyBookie, Bet365, William Hill, FanDuel, and 22Bet.
- Olympic basketball consists of 4 different events – men’s and women’s basketball, and men’s and women’s 3×3.
- As the most prosperous nation in Olympic basketball, the United States has won all but one tournament since 1992. The only exception was the 2004 Summer Olympics, where Argentina won its maiden basketball Olympics gold medal.
- France and Spain have made 4 finals but have never won the gold medal.
- Brazil’s Oscar Schmidt leads the all-time standings for the most points per game (PPG) in a single tournament. He averaged 42.3 PPG in 1988.
- As a 3-time gold medal winner, Carmelo Anthony is the most successful basketball player at the Olympics. Sue Bird and Diana Taurasi lead the all-time standings with 5 gold medals apiece on the women’s side.
- The USA men’s basketball team won the gold 16 times, including an unbeaten streak from 1936 to 1968.
- The USA women’s basketball team won 9 gold medals. That includes an unbeaten streak that began in 1996.
- Serbia won 2 FIBA World Cup titles, 3 EuroBasket trophies, and one Diamond Ball, but could only manage 2 silver medals at the Olympics.
That concludes our article, providing everything you need to know about betting on the Olympic basketball tournament. Now, equipped with all that knowledge, you’re ready to choose a bookmaker, visit the best betting sites and start wagering on basketball!
Frequently Asked Questions
Is it legal to bet on Olympic basketball?
Yes. Betting on Olympic basketball is completely legal, as long as you are old enough to legally bet on sports and do so on a regulated, licensed, and legal sportsbook.
Who is favoured to win basketball in the Olympics?
4 different nations won the Olympic basketball gold medal throughout history, but none was as dominant as the United States, which won 25. As a result, the United States is always considered the main favourite to take home the Olympics gold medal.
Where to bet on Olympic Basketball?
You can bet on Olympic basketball on almost all online sportsbooks. As one of the most prestigious sporting events globally, the Olympics are well covered by all online bookies, so you can rest assured that finding odds on Olympic basketball or any other Olympics event won’t be difficult.
What year did basketball become an Olympic sport?
Basketball was first held at the Olympics in 1904 as a demonstration event, but it didn’t earn a permanent spot on the schedule until 1934.
How does Olympic basketball work?
The Olympic basketball features 12 teams (men’s and women’s) who need to qualify for the event. 7 teams gain entry through the FIBA World Cup slots; 4 slots are handed out through the Olympics qualifying tournaments, while the final spot is reserved for the hosts. During the tournament, the teams are divided into 3 groups of 4, with the top teams advancing into the single-elimination playoffs bracket.