2024 Australian Open Odds: Tennis Odds, Favorites, Schedule

The 111^th edition of the Australian Open begins at Melbourne Park on January 16. Novak Djokovic is back and comes in as the pre-tournament tennis betting favorite. Australian officials deported Djokovic before last year’s Australian Open, which opened the door for Rafael Nadal to win his 2nd Aussie title. Nadal (+1400) is tied with Stefanos Tsitsipas and Nick Kyrgios with the third-best odds, though Kyrgios withdrew with a knee injury a day before his first match. Meanwhile, sportsbooks have Daniil Medvedev with +500 odds to win.

The women’s side also has strange dynamics, because defending champion Ashleigh Barty is not playing. Barty retired two months after winning the 2022 Australian Open, becoming the first Aussie to do so in 44 years. Naomi Osaka, who has won 2 of the last 4 Australian Open tournaments, is out due to pregnancy. Thus, world No. 1 Iga Swiatek is the favorite to win the tournament. Behind her, Aryna Sabelenka, Ons Jabeur, Carolina Garcia, Jessica Pegula, and Coco Gauff are favorites with bettors.

2023 Men’s Australian Open Odds

The 2023 Australian Open odds are now out for the 111^th edition, which is slated to begin next January. Djokovic is the early men’s favorite at -125, while Daniil Medvedev comes in at +500. Nadal is rated at +1400 to defend the title, which is quite low for a defending champion. Nick Kyrgios is a divisive figure among fans, but the 2022 Wimbledon finalist will be a tough opponent as his legion of Australian fans will attend each Kyrios match. But of course, keep an eye on Djokovic’s story. Stefanos Tsitsipas, a talented and tempestuous star himself, has the same odds as Nadal and Kyrgios.

The news on the men’s side coming into the 2023 Australian Open is the officials’ ban on booing at Novak Djokovic matches. Anticipating discord due to the government’s decision to allow Djokovic into the country after his deportation last year, Aussie Open officials say they want fans to be “respectful”. Djokovic came into the tournament as a favorite against the field, and his traditional dominance at the Aussie Open continued. Winning the key points, including the 2nd Set and 3rd Set tiebreakers, Djokovic defeated Stefanos Tsitispas in straight sets to win in the final.

All sports betting odds from Bovada.

Latest 2023 Australian Open Odds: Betting the Field Against The Favorites

Now that the men’s bracket has reached the quarterfinals, many of the favorites are out. The remaining two favorites (Djokovic and Tsitsipas) have lower odds to win, which gives sportsbooks and bettors a problem. What happens if you don’t want to bet on the favorites?

Sportsbooks offer odds where one or two players are pitted against the field. Those who wanted to bet on pre-tournament dark horses like Karen Khachanov, Ben Shelton, or Tommy Paul can place money on the “Field” bets below.

All sports betting odds from Bovada.

How to Read Australian Open Match Odds

Here’s a quick tutorial on how to read the most popular Australian Open tennis betting odds.

When betting the SPREAD, you’re wagering on how many games the tennis player will win by. So, in the example above, Medvedev needs to win by 2-or-more games to cover the spread or Nadal needs to lose by 1-or-fewer game OR win the match outright.

When betting the MONEYLINE, you’re simply betting on which player you think will win the match outright. If you like the favorite, Medvedev, you’ll need to wager $110 for every $100 you’d like to win. If you like Nadal to pull off the upset, wager $100 to win $125.

The match total is Over/Under how many games will be played. In this example, the total line is Over/Under 47 games. Should Medvedev-Nadalplay exactly 47 games, the bet is a PUSH, and your original wager is returned to you.

2023 Women’s Australian Open Odds

On the women’s side of the 2023 women’s Australian Open odds, Iga Swiatek opens as a strong +200 favorite. Much of the news centers upon who will not be competing. Defending champion Ash Barty is retired, while 7-time champion Serena Williams evolved away from tennis (semi-retired) in the offseason. Meanwhile, Naomi Osaka (2020, 2018) and 2018 final Simona Halep each will miss the tournament this year. With so many longtime favorites out of the event, last year’s dominant player in the WTA is a heavy favorite.

In the 4th Round, Elena Rybakina knocked World No. 1 Iga Swiatek out of the tournament. Rybakina, the reigning Wimbledon champion, faces 2-time former Aussie champion Viktoria Azarenka in one semifinal, while Aryna Sabelenka faces unseeded Magda Linette in the other semifinal match. In the final, Sabalenka defeated Rybakina in a hard-fought 3-setter that included huge serves and huge forehand winners throughout the match.

Odds via Bovada

Studying past champions gives bettors perspective on the current tournament. Those betting against Novak Djokovic should know about his dominance at Melbourne Park over the past 12 years. Djokovic’s best tournament is the Australian Open, and his run of 8 championships in 12 years is comparable only to Federer’s and Sampras’s runs at Wimbledon. Only Nadal’s dominance of the French Open is more impressive.

The women’s bracket is much different, as the last 9 champions are not playing in the tournament. They have either retired or dropped out of the event due to injuries. Victoria Azarenka, who last won the event in 2013, is the latest champion in this year’s event. That leaves a wide-open field where players who’ve performed best elsewhere are the favorites.

Just like in golf, the 2023 tennis grand slam consists of four major tournaments.

Australian Open

2023 Dates: January 15 to January 29, 2023
Location: Melbourne Park, Australia
Surface: Hard Court
Defending Champs: Rafael Nadal and Ashleigh Barty

French Open

2023 Dates: May 28 to June 11, 2023
Location: Paris, France
Surface: Clay
Defending Champs: Rafael Nadal and Iga Swiatek

Wimbledon

2023 Dates: July 3 to July 16, 2023
Location: London, United Kingdom
Surface: Grass
Defending Champs: Novak Djokovic and Elena Rybakina

U.S. Open

2023 Dates: August 29 – September 11
Location: New York City, New York
Surface: Hard Court
Defending Champs: Carlos Alcaraz and Iga Swiatek