Ambient backscatter communications (AmBack-Coms) have been recognized as a spectrum-and energy-efficient technology for Internet of Things, as it allows passive backscatter devices (BDs) to modulate their information into the legacy signals, e.g., cellular signals, and reflect them to their associated receivers while harvesting energy from the legacy signals to power their circuit operation. However, the co-channel interference between the backscatter link and the legacy link and the nonlinear behavior of energy harvesters at the BDs have largely been ignored in the performance analysis of AmBackComs. Taking these two aspects, this paper provides a comprehensive outage performance analysis for an AmBackCom system with multiple backscatter links, where one of the backscatter links is opportunistically selected to leverage the legacy signals transmitted in a given resource block. For any selected backscatter link, we propose an adaptive reflection coefficient (RC), which is adapted to the non-linear energy harvesting (EH) model and the location of the selected backscatter link, to minimize the outage probability of the backscatter link. In order to study the impact of co-channel interference on both backscatter and legacy links, for a selected backscatter link, we derive the outage probabilities for the legacy link and the backscatter link. Furthermore, we study the best and worst outage performances for the backscatter system where the selected backscatter link maximizes or minimizes the signal-tointerference-plus noise ratio (SINR) at the backscatter receiver. We also study the best and worst outage performances for the legacy link where the selected backscatter link results in the lowest and highest co-channel interference to the legacy receiver, respectively. Computer simulations validate our analytical results, and reveal the impacts of the co-channel interference and the EH model on the AmBackCom performance. In particular, the cochannel interference leads to the outage saturation phenomenon in AmBackComs, and the conventional linear EH model results in an over-estimated outage performance for the backscatter link.