With the domestic season still several weeks away, the prospect of seeing some of the world's best players compete will be a welcome boost to football fans around the globe.
While debate is raging about who will claim Olympic gold, bookmakers are offering their best offers for new customers ahead of the tournament's initiation.
Brazil are the favourites at 4/6 (1.67) with Bet365 to triumph while Spain - who were looking to continue thier dominance at international level - were dumped out of the tournament following back to back losses.
Bet365 offer a 100 per cent bonus to each new customer on their first deposit, up to £200. Simply register for a new account and you will be credited with the same amount as your initial despoit, essentially doubling your bankroll ahead of the games.
No matter what your stakes, this offer applies, so whether it's a deposit of £10 or £200, there's something for everyone.
Anyone with a Bet365 account can sign up here and take advantage of this special offer.
The largest free bet offer comes from Paddy Power. The Irish bookmaker will match new customer's first bet, up to £50.
This offer is valid for the first five bets, meaning Goal.com readers can claim up to £250 in free bets.
Smaller-stakes punters can still take advantage of this offer as it applies to the first five bets on the account, up to £50. Full terms and conditions can be found here. This offer is a special one for Goal.com readers.
Anyone without a Paddy Power account can sign up here to ensure they receive the best offer on the market.
William Hill offer a £25 free bet for each new customer and offer a huge selection of pre-tournament markets, including a special on any of the over-age players to score in a group game at 5/2 (3.50).
The scheduling of the matches means each matchday's games will be played on the same day, thus providing some great opportunities for accumulators. PanBet offer a 10% bonus on winning accumulators so before placing your multiples why not read what PanBet have to offer.