Olympics 2012: Gold Medal Odds for Team USA Basketball and Top Contenders

Olympic basketball is well underway in London, and Team USA is absolutely destroying the competition.

The rest of the world can only hope to contain the likes of LeBron James and Kobe Bryant as they continue to steamroll through the preliminary round in pursuit of their second consecutive gold medal.

As dominant as the United States may be, there is still a little over a week left for other nations to battle into contention as they attempt to perform the impossible and take down the best team in the world.

Here's a breakdown of each top contender and their gold medal odds (from Odds Shark via Bovada) in this year's Olympic Games.

Great Britain

Odds: 250/1

Great Britain isn't really a top contender by any means, but it would simply be rude to leave the hometown team off of the list.

Led by Chicago Bulls All-Star Luol Deng, the team currently rests at the bottom of the Group B standings after losing their first three matchups.

Britain's roster also includes former NBA players Pops Mensah-Bonsu and Robert Archibald, but neither are major game changers.

With two games left against China and Australia, the team will have their opportunity to pick up at least one win in front of the home crowd before they pack it in.

Brazil

Odds: 40/1

The Brazilian basketball team hasn't medaled at the Olympics since they took back-to-back bronze medals in the 1960 and '64 Games.

This year, they'll look to end the drought with the help of NBA stars Nene Hilario, Anderson Varejao and Leandro Barbosa.

They currently sit in third place in Group B with a 2-1 record, their only loss thus far coming by a point to Russia.

They will not have a chance of beating the talented U.S. team for gold, but they very well may be able to sneak their way back onto the podium for the first time in nearly 50 years.

Russia

Odds: 33/1

The Russians are off to a fast start as they sit atop the Group B standings in a tie with Spain at 3-0.

The 7'1" Timofey Mozgov of the Denver Nuggets, the recently signed Andrei Kirilenko (Timberwolves) and Alexey Shved are the players to watch on this squad.

Kirilenko is second in the tournament in scoring so far, averaging 23.3 points per game.

Russia is one of those teams that could very well make their way into the gold medal game, having beat their first two opponents handily before squeezing out a one-point victory over Brazil.

Even though the U.S. once shocked the Russians in one of their best sports with the famous "miracle on ice," there is absolutely no chance of the Russians returning the favor with a "miracle on hardwood" this year.

France

Odds: 28/1

The French national team hasn't made an appearance at the Olympics since 2000, where they fell to the United States in the gold medal game by a score of 85-75.

France lost their opener to the U.S. in London this year, but has since won two consecutive games beating both Argentina and Lithuania.

The team features Spurs standouts Tony Parker at the point and Boris Diaw at forward.

Other NBA players on the French roster include 22-year-old center Kevin Seraphin, Portland's Nicolas Batum and the Clippers' Ronny Turiaf.

Florent Pietrus, the older brother of Boston Celtic Mickaël, also plays for France.

This relatively talented team could very well play its way into medal contention once again in 2012, but the chances of reeling in the gold are slim to none.

Argentina

Odds: 28/1

Argentina's basketball team is off to a good start thus far in London, sitting in a tie for second in Group A with a 2-1 record.

The team is led by NBA players Manu Ginobili, Luis Scola and Carlos Delfino.

Ginobili leads the tournament in scoring with 23.7 PPG, with Scola not too far behind him in third, averaging just one point less.

Argentina was also the last international team besides the United States to win gold (2004), making them one of four countries to ever win the gold at the Olympics.

They'll face the U.S. national team in the last preliminary match on August 6, which should give them a decent feel for where they stack up against the best of the best.

Spain

Odds: 13/2

The Gasol brothers lead the attack for Spain as they hope to shock the world and knock off the mighty U.S. men's basketball team.

So far they're off to a good start, winning their first three matchups in Group B and putting themselves right on track for a gold medal rematch from 2008.

Outside of Team USA, the Spanish squad has the most talented roster in the tournament.

Shot-blocking phenom Serge Ibaka offers assistance to Pau and Marc Gasol in the paint.

The Raptors' Jose Calderon and the Nuggets' Rudy Fernandez handle the majority of the duties in the backcourt for the team.

Spain's national basketball team has medaled just twice in the history of the Olympics, winning silver in 1984 and 2008.

This year, they look like they may be the only team that even has a remote chance of taking down the United States.

Even so, it is still extremely unlikely.

USA

Odds: 1/8

That's right.

For every $8 you bet, you stand to earn $1 in return.

That's how heavily favored the United States men's team is in the 2012 Olympic Games.

Rightfully so, after their most recent performance in which they set an Olympic scoring record in their 156-73 rout over Nigeria.

Carmelo Anthony also set an American scoring record with 37 points in only 14 minutes, shooting an unheard of 10-for-12 from behind the arc on the day.

It doesn't come as too much of a surprise with NBA superstars such as LeBron James, Kobe Bryant, Kevin Durant and Anthony leading the attack for the U.S.

What team could honestly stand a chance against such a stacked squad?

The only reasonable response I've heard to that question requires time travel: the '92 U.S. Dream Team.