Basketball at the Summer Olympics has been a sport for men consistently since 1936. Prior to its inclusion as a medal sport, basketball was held as a demonstration event in 1904. Women's basketball made its debut in the Summer Olympics in 1976. FIBA organizes both the men's and women's FIBA World Olympic Qualifying Tournaments and the Summer Olympics basketball tournaments, which are sanctioned by the IOC.
The United States is by far the most successful country in Olympic basketball, with United States men's teams having won 16 of 19 tournaments in which they participated, including seven consecutive titles from 1936 through 1968. United States women's teams have won eight titles out of the 10 tournaments in which they competed, including seven in a row from 1996 to 2020. Besides the United States, Argentina is the only nation still in existence which has won either the men's or women's tournament. The Soviet Union, Yugoslavia and the Unified Team are the countries no longer in existence who have won the tournament. The United States are the defending champions in both men's and women's tournaments.
On 9 June 2017, the Executive Board of the International Olympic Committee announced that 3x3 basketball would become an official Olympic sport as of the 2020 Summer Olympics in Tokyo, Japan, for both men and women.
History
Basketball was invented by James Naismith in Springfield, Massachusetts, in 1891. Within a few decades, the new game became popular throughout the United States as an indoor sport. The popularity spread overseas and the International Basketball Federation (FIBA) was organized in 1932 in Geneva, Switzerland. The Young Men's Christian Association (YMCA) had a big part in the spread of this sport to many countries, and as many as 21 teams competed in the first Olympic basketball tournament.
American dominance
Thanks in part to the effort of Phog Allen—a Kansas Jayhawks collegiate coach—the first Olympic basketball tournament was organized in the 1936 Berlin Olympics on outdoor tennis courts. Dr. Naismith presented the medals to the top three teams. According to the Olympic rules of that time, all of the competitors were amateurs. The tournament was held indoors for the first time in 1948. The American team proved its dominance, winning the first seven Olympic tournaments through 1968, without losing a single game. While the Americans were barred from sending a team that contained players from the professional National Basketball Association, they instead sent in college players; teams from some other countries sent in their best players, as some of their players were classified as "amateur" by FIBA, by earning allowances instead of wages.
Munich and after
The U.S. winning streak ended in 1972 in one of the most controversial matches in history, when the Soviet Union beat them in the gold-medal game by one point.
The U.S. team reclaimed the gold medal in 1976, with Yugoslavia, which had beaten the Soviet Union in the semifinal, finishing runner-up for the second time. In 1980, with the Americans' absence due to the boycott, Yugoslavia became the third team to win the title, after beating the Soviets anew in the semifinals and Italy in the final. The Americans regained the title in 1984, by beating Spain in the final, with the Soviets boycotting this time. The Soviets won the gold medal for the second time in 1988, after beating the U.S. team for the second time in the semifinal, and the Yugoslavs in the gold medal game.
Professional era: renewed American dominance
The advent of the state-sponsored "full-time amateur athlete" of the Eastern Bloc countries eroded the ideology of the pure amateur, as it put the self-financed amateurs of the Western countries at a disadvantage. The Soviet Union entered teams of athletes who were all nominally listed in the military, but all of whom were in fact paid by the state to train full-time. In April 1989, through the leadership of Secretary General Borislav Stanković, FIBA approved the rule that allowed NBA players to compete in international tournaments, including the Olympics. In the 1992 Summer Olympics, the U.S. "Dream Team" won the gold medal with an average winning margin of 44 points per game, and without calling a timeout. By this time, the Soviet Union and Yugoslavia no longer existed, but their successor states continued to be among the leading forces. Two newly independent countries of the former Yugoslavia and Soviet Union, Croatia and Lithuania, won the silver and bronze medals respectively.