Team USA remains favorite, but gold medal odds lengthen

7/26/2021 5:29:06 PM EST

Team USA will take the court Wednesday for the second time at the Tokyo Olympics when it plays Iran in the second game of its Group A play.

While Team USA is an overwhelming favorite to ease by Iran, France put a significant chink in the team's armor with its upset victory on Sunday.

Team USA began the Olympics as the -1000 favorites by PointsBet to claim the men's basketball gold medal. Those odds have now lengthened to -250 at PointsBet and Team USA is being offered at -220 by DraftKings.

The next-shortest gold medal odds belong to Australia, which is now being offered at +800 by PointsBet after opening at +1000. Australia's odds are shorter at +625 by DraftKings.

France and Spain have each seen their odds shorten to +900 at both sportsbooks, with Luka Doncic and Slovenia now the third betting favorite at +850 at DraftKings.

Men's Basketball Gold Medal Winner Price Adjustments (PointsBet):

USA
--Opening odds = -1000
--Current odds = -250

Australia
--Opening odds = +1000
--Current odds = +800

France
--Opening odds = +2000
--Current odds = +900

Italy
--Opening odds = +5000
--Current odds = +2500

Nigeria
--Opening odds = +15000
--Current odds = +5000

Spain
--Opening odds = +1400
--Current odds = +900

Slovenia (Team Luka)
--Opening odds = +2500
--Current odds = +1000

Team USA being backed by 83 percent of the bets and 96 percent of the money at -9000 to beat Iran (0-1) on Wednesday. As a 42-point underdog, however, Iran's spread line is being backed by 58 percent of the bets.

Team USA's third Group A game will be Saturday against the Czech Republic (1-0), which is a 9.5-point underdog ahead of its game against France on Wednesday.

--Field Level Media

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