Australian Open Odds

BettingOdds has everything you need to enjoy Australian Open betting on this page. Our regularly updated odds comparison grids help bettors find the best value for their picks, and are indispensable tools for navigating the jam-packed sports betting market. 

Readers can also find sports betting bonus comparisons from our recommended industry-leading sportsbooks alongside commentary on the most popular betting markets and tips to bet responsibly. Our experts also offer detailed analysis of the main 2024 Australian Open odds favorites. 

Australian Open Favorites

Knowing the Australian Open betting favorites is a fundamental starting point, and the men’s and women’s singles draws are extremely open compared to other years. Keep reading for information on the main 2024 Australian Open odds favorites: 

Men’s Singles

Novak Djokovic claimed his first Grand Slam victory at the 2008 Australian Open, winning the tournament a record-breaking ten times since. The Serb will take some beating but contenders like Carlos Alcaraz and Daniil Medvedev still have a chance. 

The top five current 2024 Australian Open betting favorites are: 

• Novak Djokovic – Betting against Novak Djokovic is rarely a good idea, let alone at the Australian Open. The all-conquering Serb will be desperate to win a record-breaking 24th Grand Slam at the 2024 competition, pulling clear of the legendary Australian Margaret Court. He’s a heavy favorite, with his blend of tactical nous, jaw-dropping defense, and iron will proving difficult to beat. 
• Daniil Medvedev – Medvedev lost the 2021 and 2022 finals, but has added new dimensions to his hard-hitting baseline defense game since these losses. Medvedev has been Djokovic’s closest challenger since Nadal and Federer retired, and he’s widely tipped as a potential 2024 Australian Open betting favorite. 
• Carlos Alcaraz – New kid on the block Carlos Alcaraz has wasted no time asserting his credentials, especially after the epic 2023 Wimbledon final against Novak Djokovic. The Spaniard mixes Nadal's tenacity with Federer’s elegance, a potent combination that can beat anyone on his day. 
• Nick Kygrios – It would be a shame if Nick Kygrios never claims a Grand Slam trophy. The explosive Australian picked up an against-the-odds victory in the 2022 men’s doubles, but success in the single’s draw has eluded him. Many experts expect Kygrios to play at full pelt after missing the 2023 edition through injury. He’s a definite outsider for 2024 Australian Open odds, but stranger things have happened. 
• Rafael Nadal – It looks like Rafael Nadal will be fit to compete in the 2024 Australian Open, and the legendary Spaniard will be hoping to see his last professional tennis season off in style. Question marks remain regarding his fitness, but he won the 2022 title with an entirely numb foot, so you can never write Nadal off. He’s on the 2024 Australian Open betting favorites list for the last time. 

Women’s Singles

No player has retained the Australian Open women’s singles title for two consecutive years since Victoria Azarenka in 2012 and 2013. Her fellow Belarussian Aryna Sabalenka has a great chance to do so after winning the 2023 edition, but the powerful 25-year-old won’t have it easy. 

The main 2024 Australian Open betting favorites include: 

• Aryna Sabalenka – Her maiden Grand Slam victory at the 2023 Australian Open kickstarted an impressive season for Sabalenka. Although the Belarussian ultimately fell short of emulating her success at the other three majors, she was virtually unplayable at times. Sabalenka will be an Australian Open betting favorite for years to come, and 2024 might be the start of an all-conquering reign in Melbourne. 
• Iga Swiatek – If there is anybody who can stop Sabalenka retaining the title, it’s Iga Swiatek. The Pole lacks the sheer power of her rival, but makes up for it with an incredible toolbox of inventive drop shots and laser-precise winners. Swiatek has never advanced further than the Australian Open semi-finals, but many experts are predicting 2024 will finally be her year. 
• Elena Rybakina – Few players can match Elena Rybakina’s ferocious first serve, a weapon that has made the Russian-born Kazakh a formidable opponent. She lost to Sabalenka in the 2023 final, a defeat many tennis experts think will spur her on to success in 2024. Rybakina is among the Australian Open odds leaders for a reason. If she can find consistency in her immense serve, the Kazakh could be unstoppable. 
• Coco Gauff – Can Coco Gauff build on her success at the 2023 US Open? The American teenager claimed her first Grand Slam in style against Sabalenka and will be hoping to find the same performance levels in Melbourne. Winning two Grand Slams on the trot is an alluring prize that puts Gauff firmly in the running for 2024 Australian Open betting favorite. 
• Ons Jabeur – The lovable Ons Jabeur has one of the WTA Tour’s most versatile playing styles, known for eye-catching flair and a never-ending range of drop shots, impressive winners, and tricky slices. The Tunisian is yet to win a Grand Slam, but the 2024 Australian Open could be there for the taking. 

Doubles

Doubles has been a compelling Australian Open betting alternative in recent years, with two against-the-odds victories for wildcard entrants on the men’s side in 2022 and 2023 contributing to the excitement. Betting sites usually wait longer to set their doubles favorites, but here are a few partnerships to keep an eye on: 

Men’s Doubles 

• Neal Skupski / Wesley Koolhof – The duo went out to eventual wildcard winners Rinky Hijikata and Jason Kubler despite being top seeds in 2023. Skupski and Koolhof will be back with a vengeance, topping the current men’s doubles Australian Open betting favorites list.  

Women’s Doubles

• Barbora Krejcikova / Katerina Siniakova – Krejcokova and Siniakova stormed to victory in the 2023 Australian Open, beating Shuko Aoyama and Ena Shibahara in straight sets in the final. The Czech duo are favorites to retain the title in 2024, and it’ll take a lot to stop them. 

Mixed Doubles

• Jessica Pegula / Austin Krajicek – Pegula and Krajicek will want to make amends for their first-round exit in 2023 despite being top seeds. The American pair have all the ingredients to win the mixed doubles in 2024 if they can keep their cool. 

Australian Open Betting Markets

Leading sportsbooks offer various Australian Open betting markets, providing versatile and wide-ranging possibilities. We’ve explained the most popular options below: 

Outright Winner

Wagering on the outright winner is the most straightforward Australian Open betting opportunity. Sportsbooks offer odds on the men’s, single’s, and doubles draws, usually under the futures category. Predicting the overall winner far in advance can lead to more attractive payouts, but it’s also much harder to do so.  

Moneyline

Moneyline bets refer to the winner of each individual game during the Australian Open. These wagers are also the easiest way to understand the American odds format — essential knowledge for all US bettors. Favorites have a negative number, while underdogs are given a positive. The distance from 0 (the so-called moneyline) shows how close the margins are. 

For example, we could imagine theoretical moneyline odds for a match between Djokovic and Alacraz: 

• Djokovic -250
• Alcaraz +200 

Calculating the potential payout using these Australian Open odds is easy. Djokovic’s negative -250 odds would require a $250 wager to win $100. Conversely, Alcaraz’s positive +200 odds could win $200 from a $100 stake. 

Set Betting

Set betting during the Australian Open offers a more pinpoint wagering opportunity than straightforward moneylines. Bettors can forecast each individual set’s winner and overall score. This can be a brilliant option for tight contests, especially where you can see at least one set going down to tiebreak.

Game Spread

The game spread Australian Open betting market requires bettors to predict the margin of victory during a match rather than the overall winner. For example, sportsbooks could set a game spread of -4.5 on Djokovic to beat Alcaraz using our previous hypothetical example. This means the Serb would need to win by five games or more for a successful wager. Game spread betting is particularly useful when there is a clear favorite, allowing you to get more value from your prediction. 

Totals

Totals or over/unders require bettors to guess whether the amount of games or other specific scenarios like aces or unforced errors will be above or below the line set by sportsbooks. It’s a brilliant Australian Open betting opportunity for experts to utilize their statistical analysis and research. For example, matches featuring big servers like Elena Rybakina or Daniil Medvedev will have a high number of aces. 

Point by Point

Point-by-point wagering is a dynamic way to enjoy live Australian Open odds, allowing bettors to predict the outcome of each individual point. We strongly recommend only using this market when you’re actually watching live games, as you’ll need a strong idea of each player’s form right down to the minute to prevail. Used carefully, it can be a great way to add to the excitement. 

Parlays

Parlays provide an opportunity for bettors to combine several Australian Open betting events and markets under one wager. All parlay legs must be successful to win the wager, so it’s a risky move. However, the potential payout is also much higher. Top sportsbooks also provide same-game parlay markets, enabling a blend of moneyline, totals, and prop bets. 

Australian Open Betting Bonuses

Taking advantage of Australian Open betting bonuses can bolster your bankroll and generate opportunities to test new strategies with less financial risk. Here are a few of the most popular:  

Bonus Bets

The best Australian Open betting sites can provide bonus bets during the tournament and for new customers making an initial deposit. For example, first-time FanDuel bettors can score $100 in bonus bets after a qualifying $5 wager. These free bets are brilliant for beginners exploring different markets, but beware of the potentially unrealistic wagering requirements. 

Parlay Insurance

If you find parlay bets too nerve-wracking, try a sportsbook like DraftKings that regularly offers parlay insurance bonuses. These cover parlay bettors in the event that one leg fails, paying out a smaller total or refunding the stake as bonus bets. 

Enhanced Odds

Many sportsbooks offer enhanced Australian Open odds on specific matches or betting markets during the competition. These boost the potential payout, but be careful not to get sucked into making wagers you wouldn’t otherwise agree with just to take advantage. 

Responsible Gambling

All bettors must ensure they enjoy Australian Open odds responsibly without succumbing to dangerous gambling pitfalls. Never gamble as a way to make money, as this can easily push you to overspend when trying to cover your losses. We highly recommend setting strict budgets, keeping a record of your gambling activity, and using sportsbook tools like self-exclusion where necessary. Check the BettingOdds responsible gambling hub for more comprehensive tips or head to the National Council of Problem Gambling for resources and support in your area. 

Compare Australian Open Odds and Sign Up

Now BettingOdd has walked you through the main Australian Open betting favorites, markets, and bonuses, you’re ready to compare odds. Simply browse our odds feed at the top of this page, choose your preferred sportsbook, and click through to get started. 

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