How to Bet on Copa America 2024

Copa America 2024 kicks off on July 20 with Canada vs. Argentina. Read on for a comprehensive guide to betting on this year’s tournament, taking place across the U.S.A. We laid out our top betting tips, strategies, and the best sportsbooks for placing action on the games.

The 2024 Copa America will merge the top soccer nations from North and South America into one competition for a special edition of the CONMEBOL championship. This year’s tournament features all 10 South American teams and six North American sides competing in various stadiums across the U.S.A.

Each of the 16 participating national squads were drawn into four groups of four teams. Copa America 2024 will follow a similar format to the World Cup, with the top two teams from each group progressing to the quarterfinal round. The ensuing rounds are single elimination until a champion is crowned.

Betting odds for each round are available on most sportsbooks, including current outright markets. Also known as futures markets, these are long-term bets made well in advance of their possible outcome. Sports bettors right now can wager on outright bets such as group winners, how far a team will progress and the outright champion.

Each individual match also offers plenty of bet types, including prop bets. Many betting markets allow for wagers on the various possible outcomes of the entire match. Proposition bets, known as props, are placed on more specific outcomes that don’t necessarily dictate the final score. These can include team bets, such as over/under the amount of corner kicks that will be taken, or player performances, such as how many goals a player will score.

Everyone’s favorite soccer betting markets will be available on the top sports betting sites across Canada for the Copa America. Single bet types such as moneyline wagers on the outright winner or team props like goals scored are already listed for the first slate of matches. Parlay bets, also known as accumulators, can also be placed by combining multiple single bets together.

Six of the top eight teams projected as most likely to win are from South America. Defending champion Argentina is the current favorite to win its second Copa America title in a row, followed closely by Brazil. According to oddsmakers, Mexico and the U.S. are the top two North American sides with a chance to upset their South American counterparts and pull down the trophy. 

Canada, meanwhile, has the 7th longest odds at +7000 on most books.

Remember to shop the listed markets at each sportsbook, as even marginal discrepancies between available prices can lead to a much bigger payout. For example, DraftKings Sportsbook may list the odds for Argentina to raise the cup at +175, while Caesar’s is offering a price of +180. In this case, bettors can earn an extra five cents per dollar wagered by betting with Caesar’s.

This strategy also pertains to wagers on individual matches. We recommend utilizing an odds shopper tool to easily compare sportsbook menus.

Copa America 2024 Bet Types

Soccer offers sports bettors a wide variety of fun and creative bet types. Goal scoring can be hard to come by, forcing betting sites to devise other types of wagers to fill their menus. We listed the most common bets found on the top sites across the country.

• Moneyline: A wager on the moneyline is determined by the outright winner of the match. Betting on the team favored to win will return a smaller payout than backing the underdog. For example, Canada’s moneyline odds in its opening match against Argentina are +1350. If Canada pulls off the upset, a $100 bet on its moneyline would return $1350 in profit, much greater than the $22 of profit for a correct bet on Argentina’s moneyline.
• Moneyline No Draw: Since draws are a possible outcome, there is a second type of moneyline wager called “No Draw.” If a bettor chooses this market, a draw would result in the bet as a push and all bettors are returned their stake. The catch is that the odds for either moneyline side in this case are much lower.
• Total Goals: This is an example of an over/under betting market. Sportsbooks provide different options for the amount of goals both teams will combine to score. Sports bettors can then choose whether they project there will be more (over) or less (under). Using Canada’s game against Argentina once more, I would consider a bet on under 2.5 goals. Argentina has a history of slowing down the pace of the game during major tournaments, including its recent national matches.
• Multiple Correct Score: Rather than bet on the exact score of a game, bettors can select a few options for the final count. BetMGM offers players a few different groups of scores such as Argentina to win 1:0, 2:0, or 3:0, or Canada to win 1:0, 2:0, 3:0. You still receive great value as a bettor, as these markets usually offer plus-money odds, meaning a winning bet of $100 would yield more than $100 dollars in profit (plus the initial $100 stake).

Outright Betting

As mentioned, most of the favorites to win the Copa America 2024 as outright champions hail from South America. On paper, it’s difficult to justify a wager on any of the teams from North or Central America despite the tempting payouts they offer. Still, the main reason professional sports bettors play outright markets is the quality odds that come with being able to project an outcome so far down the line.

One of the first things to consider before placing a bet on any of the outright markets is a team’s potential path to the Finals. Group D is widely considered the most difficult, consisting of Brazil, Colombia, Paraguay, and Costa Rica. When the quarterfinals arrive, Groups C and D will face off, with the winner of each group playing the second-place team from the other group. Assuming Brazil wins Group D and Colombia comes in second place, the two advancing teams from Group C might both be considered underdogs in the Quarterfinal Round.

Right away you can see that betting on the U.S. or even Uruguay to win the entire tournament is less assuring than one of the underdogs from Groups A and B.

The good news is that you can bet on multiple teams to win and still make a profit if just one of them succeeds. An intelligent strategy for outright markets will often dictate that bettors select a few different teams with long odds to win it all. In these instances, remember to portion your bet sizes accordingly, as there’s no need to spend too much on these long-shot bets.

Accumulator bets are favored for their potential to offer lengthy odds, resulting in significant returns for bettors. These returns grow progressively with the addition of each new bet, leading to an escalating cumulative value. Take an accumulator bet with three selections, known as a treble. The initial stake is multiplied by the odds of the first bet. Subsequently, the total return from the initial selection, combined with the initial stake, is wagered on the second selection. Should the second selection prove successful, the accumulated return is then transferred to the third selection. If each leg of the accumulator settles correctly, the bettor stands to gain a substantial profit while risking a small amount.

Typically, bettors do not receive payouts if any selection within the accumulator fails, although some bookmakers may offer partial returns in certain instances. We strongly recommend exploring every sportsbook at your disposal to discover the ever-changing features and promotions.

Parlay Bets

Accumulators can also be referred to as parlay bets, or multi bets. Keep in mind there are certain markets and bets that sportsbooks won’t allow within a parlay. Similarly, some betting sites don’t allow multiple bets from the same game unless specified ahead of time.

Let’s use the first round of games from this year’s Copa America 2024 to find a good example of a parlay bet. I like under 2.5 goals for +100 on BetMGM, so we’ll make that the first selection (also known as a “leg”). For the second leg, I’m going to add the Mexico moneyline at -145. We’re getting good value to bank on Mexico after Jamaica had a strong showing in qualifiers for this year’s Copa. Mexico should still have a solid advantage while looking to bounce back after a tough loss to the rival U.S. in March.

Pausing for a minute you’ll notice that if you add these two bets to your bet slip on BetMGM, you can select Parlay to see the updated odds for your bet. These two plays combined should net you better than +200 odds.

We’re going to make this a treble, so we need one more leg. Since we’re already receiving a solid payout with the first two legs, I’m going to add massive favorites Brazil to win outright against Costa Rica. At -500, it won’t increase our payout too greatly, but we’re now sitting with a +300 payout if all three selections cash successfully.

Not all bets are created equal, as some will pay out more to a winning bettor than others. These differences are dictated by the odds of a bet. Simply put, odds are used to calculate the potential payout for a bet. They also indicate the likelihood that a particular outcome will occur in a sporting event. Since Brazil is projected as highly likely to beat Costa Rica in its opening match, placing a bet on Brazil’s moneyline offers odds of -500.

Understanding odds is crucial for bettors to make informed decisions. Lower odds typically indicate a higher probability of occurrence, but they also offer smaller potential payouts. Higher odds suggest a lower probability of occurrence but offer larger potential payouts. Bettors should consider both the probability and potential payout when placing their bets

Additionally, odds can fluctuate based on betting volume, injuries, team performance, and other factors, so it's essential to stay updated on the latest information before placing a bet.

Copa Odds Calculator

Odds calculations should be performed by any sports bettor who intends to have success. Luckily, there are odds calculators available all over the Internet. Some sportsbooks will even provide these calculators within their platform. For those books which don’t, however, you can use simple math to help you discover whether or not a bet is worth the risk.

Using American odds, the equation differs between favorites and underdogs. When finding the win probability for a favorite, use: odds/(odds + 100) x 100. A favorite with odds of -200 would be 200/(200 + 100) x 100, which equals 66.66. The favorite in this case has a 66.7% implied probability of winning.

For an underdog, the equation is 100/(odds +100) x 100. Using a +150 underdog for our example, the calculation is 100/(150 + 100) x 100. With an answer of 40, we know the underdog has an implied win probability of 40%.

With such a wide gap between the top teams and those at the bottom, there isn’t much value on outright bets for the favorites. So how do you form a betting strategy for this year’s tournament? There are plenty of intelligent ways to attack betting markets for both individual matches, as well as futures bets. Here are a few different options depending on your preferences as a bettor.

Rollover Moneyline Bets: Argentina is listed as the current favorite to win the cup once more. That said, a futures bet on them to do so yields less than a 2-1 return on investment. The defending champs would have to win at least five games between group play and the knockout stages. That’s a lot of work for +200 odds.

Instead of placing one outright bet on the Argentines to win five games, that money can be better spent on their moneyline for each match. If their moneyline is listed at an average of about -200 odds, betting $100 on every game would net $250 in profit if they win five times. Compare that to $180 of profit on one futures bet for them to do so and you can see the advantage of rolling over your winnings.

Group Winner Markets: Betting on the group stage can also provide a ton of value if done correctly. Here, the gap in talent is greatest compared to when the best teams advance to the knockout rounds. If you feel strongly about two or three teams winning their groups based on their notable advantage in personnel, parlaying group winners is often a lucrative strategy.

Bonuses and Promotions: Many sportsbooks will open up specific promotions and bonus offers in celebration of Copa America 2024. Make sure to check out my list below of the top available promos before and during the tournament.

Live betting is a common strategy among experienced bettors because it is seen as a level playing field. When sportsbooks set the bulk of their markets, they usually have a wealth of information to support their lines and odds. Due to the fast-paced nature of live betting, betting sites don’t have ample enough time to accrue that same level of supporting evidence.

Still, it’s important to devise a live betting strategy before the start of a match, rather than on the fly. I condone the use of live betting contingent on two important factors: that the bettor has a predetermined strategy, and that said bettor is willing to withhold betting if their strategy doesn’t materialize.

For example, let’s say you know Argentina tends to come out slowly during the group stage of major tournaments. Maybe you think they will be caught off guard by Canada’s counterattack. If your prediction holds true and Canada is able to score first, the odds of a moneyline bet on Argentina would shorten from their opening number. Now, a bet on Argentina to win outright would yield a bigger return than it would’ve if you had placed it before the start of the match.

Other Features

For those who do intend to live bet the Copa America, I would take advantage of the sportsbooks offering in-app live streaming. Betting sites offering this awesome feature are often using top-of-the-line streaming technology to ensure their feeds are the most up to date possible. Many broadcast feeds around the world will be slower to transmit the game to viewers, meaning the sportsbook streams will often be much closer to real-time action. With live betting, every second counts.

Data collection within soccer has come a long way in the last decade. 10 years ago, the only recordable stats were the most basic such as goals, assists, saves, free kicks, etc. Nowadays, there’s enough players and stats to create relatively precise projections for what’s going to happen.

When using stats to inform your bets, I’d recommend digging deeper than just the basic, surface-level points. A few examples include:

• Expected Goals: Using a combination of individual and team data from both sides, stat keepers are able to project how many goals they expect a player to score.
• Chances Created: When betting on a player assist prop, it’s always good to understand the amount of chances they create that allow them to record an assist. Obviously, not all chances are finished for goals so this number won’t usually equal their actual number of assisted goals.
• Successful Dribbles: A successful dribble is defined as any instance where an attacking player takes on a defender and beats him. This stat is a good indicator of who is likely to find space to create a goal for himself or a teammate.

Whether it's smart to bet on the underdog depends on the specific circumstances of each game. There isn’t an overarching truth that dictates if it’s good or bad, but there are certain factors you can turn to in order to make your decision. Here are the key points to consider when laying a bet on a Copa America 2024 underdog.

Value in Odds: Betting on the underdog can be profitable if you perceive that there is value in the odds offered. If the implied probability of the underdog winning is higher than the offered odds, it’s likely a smart bet.

Risk Management: Understand that betting on the underdog involves higher risk compared to betting on the favorite. While the potential payout may be greater, the probability of losing your bet is also higher. If you’re going to bet an outright underdog to win this year’s Copa, I would suggest mixing in a few more reliable bets at odds closer to -120 or so.

Market Factors: Consider the behavior of the betting market. If there is significant public sentiment or betting activity favoring the underdog, the odds will likely become less valuable Conversely, if the underdog is overlooked by the public, you might find more favorable odds.

All of the top sportsbooks across Canada will provide betting markets for the Copa. Those with multiple sportsbook accounts will be at an advantage as each book jockeys for incoming wagers. Many will provide promotional deals and bonuses to bettors as a marketing tool to incentivize new and existing bettors to lay some action on the tournament. We put together a list of the top betting sites for Copa America betting based on reliability, quality market prices, and promotional offers.

Betting on the Copa America 2024 games is as easy as signing up for a sportsbook! Even if you already have an account at one or even a few different books, I would still strongly recommend shopping around to find as many trustworthy accounts as possible. Signing up for an account is free and allows you access to more than just one price or set of odds.

If you’re still in need of your first account, signing up during a promotional period is always the way to go. Most sportsbooks offer a welcome bonus to new players that will jump in value during major sports events.

Once you’re registered, head over to the sports betting menu, which is usually the homepage of each site and betting apps. There should be a search function that allows you to seamlessly locate the Copa betting section. If that’s not the case, find the varying sports options on the site to locate the Soccer section of the betting menu. Here, you’ll find every market available for both outright bets, parlays, and straight bets.