A daring switch after a calamitous first round ended 24 years of Olympic frustration for Australia in the men's team sprint while giving veteran Matthew Glaetzer a long-awaited medal in his final Games.

Australia took bronze in the inaugural event at the 2000 Sydney Olympics but had to wait until Wednesday at the Saint Quentin-en-Yvelines velodrome to return to the podium, with another bronze behind Netherlands (first) and Great Britain (second).

FULL RESULTS

It ended Australia's agonizing run of five consecutive fourth-place finishes in the event, with Glaetzer a part of three of the near-misses since his 2012 London debut.

Little wonder the team celebrated like they’d won the gold as they ripped off their helmets and shrieked while lapping the velodrome.

"I've been trying for 12 years, and I've felt a lot of pain in the previous Olympic bronze finals," Glaetzer told Reuters after hugging teammates Leigh Hoffman and Matthew Richardson.

"To finally get the result in this one, it means the world. 

"I know how much my teammates have been training and it's a super big relief for me personally to win that. I really can't wait to share it with my wife and let it sink in."

As world champions at the venue two years ago, Australia had high hopes of challenging the Netherlands for gold, but it all went up in smoke when Glaetzer struggled to keep up with Hoffman in a poor start to their first round against China, costing the team a quicker time.

It left them in a bronze medal decider against France and an expectant home crowd.

Unhappy with how the team had performed, Glaetzer made a snap decision to put himself at the front. It proved a masterstroke as the Australians’ roared to victory over the French with a time faster than Great Britain’s ride for silver in the final.

"So I was starter, Leigh second and Richo third, completely different positions that we were planning on riding," said 31-year-old Glaetzer.

"I just knew that it was going to be better than what we'd been doing and because I knew the legs that they had.

"I knew that they'd be right on me ready to let it rip for the next two laps."