Because you asked...here are the odds for all of your Olympic betting needs...

Las Vegas, Nevada (July 26, 2012) - from RJ Bell of Pregame.com

Basketball:

Team USA winning Gold Medal:  $750 wins $100 (implying 87% chance)
Any Other Team winning Gold Medal: $100 wins $650 (implying 13% chance)

Largest margin of victory by Team USA in any game?
Over/Under: 50.5 points

Will Team USA TRAIL in the 2nd half of any game?
YES: 54% chance ($125 wins $100)
NO: 46% chance ($100 wins $110)

The average Team USA basketball game is projected to receive 50% MORE action than a typical NBA game.

Consensus in Vegas is that 1992 Dream Team would be a 6-point favorite over 2012 Team.

Most Overall Medals:

USA: 60% chance ($400 wins $100)
China 30% chance ($100 wins $150)
Rest of World: 10% chance ($100 wins $650)

Number of USA Medals: Over/Under: 38.5

Michael Phelps:

Will Michael Phelps win more Gold Medals than Spain’s entire Olympic Team?
Spain: $180 wins $100 (62% chance)
Phelps: $100 wins $150 (38% chance)

Number of Phelps Gold Medals:
Zero: $100 wins $5,000 (2% chance)
One: $100 wins $2,500 (3% chance)
Two: $100 wins $600 (11% chance)
Three: $100 wins $300 (20% chance)
Four: $100 wins $200 (26% chance)
Five: $100 wins $300 (20% chance)
Six: $100 wins $500 (13% chance)
Seven: $100 wins $1,600 (5% chance)

Usain Bolt:

Usain Bolt favored to win more Gold Medals than Greece’s entire Olympic Team!
Bolt: $135 wins $100 (55% chance)
Greece: $$100 wins $105 (45% chance)

Will Usain Bolt break both the 100m and 200m World Record?
If YES, $100 wins $800 (8 to 1)

Crazy Props:

Number of athletes stripped of medals due to positive drug tests?
Over/Under: 5.5

Will Olympic flame singe Boris Johnson’s hair during the ceremony? $100 pays $3,300 (33 to 1)

Will the Olympic Village to run out of condoms during the games? $100 pays $600 (6 to 1)

Josefine Oqvist, soccer, Sweden