Australian basketball star Andrew Bogut has pinpointed an unexpected reason for the team's dazzling form at the Rio Olympics: financial security.

The 31-year-old veteran is in his third Olympic campaign and says the current Boomers squad is benefitting from having players who are not trying to attract or shore up contracts with their professional league clubs.

"It sounds silly, but it works wonders," he said after the Boomers thrashed the world's number 3 ranked side, Lithuania (90-64), to reach their first Olympic semi-final in 16 years.

"I have been part of national teams where guys come in, and they don't have a contract in Europe or Australia or America and they are trying to prove themselves in an Olympics individually and they are happy to get their numbers," he said.

Loading

Bogut was traded to the Dallas Mavericks last month after four seasons with the Golden State Warriors. His Boomers team-mate Matthew Dellavedova recently signed a four-year $US38-million deal with the Milwaukee Bucks.

Bogut said certainty about their playing futures have helped the Boomers embrace a selfless brand of basketball.

"We have got guys who are pretty settled financially and pretty settled with their current team ... and we are playing the right way."

Boomers coach Andrej Lemanis said Bogut makes a good point.

"Everyone is prepared to sacrifice in the best interests of the team," he said.

"With players being established already, no one has another agenda other than what is best for the team which puts us in a particularly good place."

However, Lemanis said that, in his experience, Australian teams have never had too many problems with players looking to advance their own individual interests.

Australia's Aron Baynes celebrates a team score. ( AP: Eric Gay )

"They are proud to represent their country and play with their mates," he said.

"People hot-dogging to try and get their own individual needs is not something we ever really concern ourselves with."

Lemanis was more interested in giving credit to the team's leaders, in particular Patty Mills, for inspiring the Boomers so far tournament.

Mills scored 24 points against Lithuania (8/15 FG) and is the tournament's third highest scorer (106pts) averaging 21.2 points per game.

Lemanis recounted a meeting from last year, when the team was discussing its goal of winning a medal in Rio.

It seems like a lofty enough ambition given the Australian men's team has never been able to win a medal at the Olympics.

But Lemanis said Mills did not accept talk of only winning a medal.

"[Mills] He stood up and said no, we're going to get the gold medal, and that really gave us that sharp edge and gave us that focus," Lemanis said.

"He is one who has really driven the belief that we are good enough to go on and win a gold medal."

The Boomers will play Serbia in the semi-final on Saturday morning (AEST), after it held off fast-finishing Croatia for a 86-83 win in their quarter-final.