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NBA Championship Odds

Only time will tell who the new NBA champion will be. Will one of the tried and true teams win the top slot? Or are we in for a surprise?

Currently, no odds data available for this market.

It took 47 years but the Denver Nuggets are finally NBA champions. Their dominant postseason culminated in a Game 5 thriller over the Miami Heat and cemented center Nikola Jokic—who became the first player in league history to lead a postseason in points, rebounds, and assists—as an all-time great.

It also marked the first time since 1981 that the NBA has had five different champions over a five-year span. What will 2023-24 bring? Here’s a look at the NBA odds favorites heading into what will be a busy offseason in the Association.

All odds courtesy of BetMGM Sportsbook and accurate as of June 20

Denver Nuggets

Odds: +500 at BetMGM

NBA Championship Odds 1

Photo courtesy of USA Today

Why wouldn’t they be atop the odds list? Nikola Jokic is the world’s best player, and the rest of their core—Jamal Murray, Michael Porter Jr., Aaron Gordon, and Kentavious Caldwell-Pope—all return.

Bruce Brown could also be back, giving Denver back its six leading scorers from the postseason. Jokic has answered every question that detractors have thrown his way, and the next will be whether he can replicate this success and help Denver become the first team since the Warriors in 2017 and 2018 to repeat.

If this group is healthy, they’ll be playing well into May—and maybe June.

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Boston Celtics

Odds: +550 at BetMGM

NBA Championship Odds 2

Photo courtesy of USA Today

We’ll assume that Jaylen Brown returns to a Celtics team that won 57 games before running into Jimmy Butler and the Heat in the East Finals.

Much is expected of such a talented roster, but it’s important to remember that Jayson Tatum (25), Brown (26), and Robert Williams (25) are still incredibly young as far as NBA title windows go.

That’s not to say they should take anything for granted—but there’s still plenty to like about such a dominant regular season team that will also return its entire core (the three mentioned plus Marcus Smart, Al Horford, Malcolm Brogdon, and Derrick White).

Milwaukee Bucks

Odds: +600 at BetMGM

NBA Championship Odds 3

Photo courtesy of USA Today

Another Heat victim, the Bucks’ title window remains very much open thanks to one man: Giannis Antetokounmpo. As long as the Greek Freak is upright, Milwaukee has a shot. He seemingly flew under the radar last season averaging a career-best 31.1 points, 11.8 rebounds, and 5.7 assists.

Khris Middleton (player option) and Jrue Holiday are expected back, while they’ll need to fill some potential holes around their Big Three if Brook Lopez (free agent) and Jevon Carter (player option) don’t return. Still, Milwaukee is top-tiered at building championship rosters around their superstar, and there’s belief Jon Horst can and will do so again if needed.

Phoenix Suns

Odds: +1200 at BetMGM

NBA Championship Odds 4

Photo courtesy of USA Today

Monty Williams was a shocking departure for a Suns team that couldn’t get paid the title-winning Nuggets despite making an in-season move for Kevin Durant.

In a shocking turn, the Suns landed Bradley Beal (for basically nothing: Chris Paul and Landry Shamet) and now have a core of Kevin Durant, Devin Booker, Beal and Deandre Ayton (maybe). Yes, there are worse problems to have than a multitude of stars—but the KD trade left Phoenix’s depth woefully thin, and that showed up in the postseason (which is where potentially trading Ayton for depth comes into play).

It’s an important offseason to acquire role players (and a point guard) that can complement the core to try and get them over the hump in an increasingly good Western Conference that has six of the top eight best title odds.

Dallas Mavericks

Odds: +1200 at BetMGM

NBA Championship Odds 5

Photo courtesy of USA Today

These odds presume that Kyrie Irving returns to the Mavericks to form a two-headed monster with Luka Doncic that took too long to mesh in the second half of last season’s collapse.

It’s shocking to see a team that missed the postseason so high on this list, but Doncic is that good and Irving has the potential to be a championship No. 2 scorer (2016, Cleveland). The supporting cast is rather pedestrian, meaning GM Nico Harrison will need to get creative to build a roster that complements its stars.

Still, a locked-in and focused Doncic and Irving can cause havoc in the West. Let’s revisit these odds in October based on what their offseason looks like.

Golden State Warriors

Odds: +1200 at BetMGM

NBA Championship Odds 6

Photo courtesy of USA Today

Is the door closing? Well, oddsmakers don’t believe it’s shut. Still, there are a number of question marks around the Warriors this summer: What do they do with Jordan Poole (and will anyone take that contract)? Is Draymond Green back? How much does Klay Thompson have left in the tank?

They’ll need to answer a number of questions without GM Bob Myers, who stepped down from his post earlier this spring. Any team that has Steph Curry (who quietly flirted with a 50/40/90 season in 2023) has a shot when the postseason rolls around—but this is as bleak as it’s looked since the start of Golden State’s run.

Los Angeles Lakers

Odds: +1200 at BetMGM

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Photo courtesy of USA Today

After the midseason deals to acquire D’Angelo Russell, Malik Beasley, Jarred Vanderbilt, and Rui Hachimura, the Lakers were arguably the best team in basketball.

Of course, early-season struggles meant they entered the playoffs as a 7 seed—and they were swept in short order by Jokic’s Nuggets. But LeBron James showed he still has plenty in the tank, Anthony Davis was All-World when he stayed on the floor, and the supporting cast (specifically Hachimura, Vanderbilt, and Austin Reaves) helped turn this team into a contender.

If they can bring Reaves and Hachimura, both restricted free agents, back, they’ll be in contention again come April and May. If they can find a way to bring in Kyrie Irving, they might shoot to the top of this list.

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NBA Championship Odds FAQs

How do NBA odds work?

Each NBA team is given NBA futures odds to win the upcoming season’s championship. The vast majority of teams are given odds greater than 1 to 1, meaning a bettor can wager $100 and win more. The Celtics are +550 to win the NBA title, which means a bettor would win $550 on a $100 wager.

Who won the NBA title in 2023?

The Nuggets defeated the Heat in four of five games, winning their first championship in franchise history after 47 seasons in the NBA.
YearTeamFinals MVP
2023NuggetsNikola Jokic
2022WarriorsStephen Curry
2021BucksGiannis Antetokounmpo
2020LakersLeBron James
2019RaptorsKawhi Leonard
2018WarriorsKevin Durant
2017WarriorsKevin Durant
2016CavaliersLeBron James
2015WarriorsAndre Iguodala
2014SpursKawhi Leonard
2013HeatLeBron James
2012HeatLeBron James
2011MavericksDirk Nowitzki
2010LakersKobe Bryant

Which teams have not won an NBA championship?

TeamPlayoff
Appearances
Last
Suns292010
Jazz292020
Pacers272020
Nets212020
Magic162020
Clippers152020
Hornets102016
Grizzlies102017
Timberwolves92018
Pelicans72018

Which teams have won the most NBA championships?

Celtics – 17

Lakers – 17

Warriors – 7

Bulls – 6

Spurs – 5

Which teams have won back-to-back championships?

Lakers – 1952-54

Celtics – 1959-66

Celtics – 1968-69

Lakers – 1987-88

Pistons – 1989-90

Bulls – 1991-93

Rockets – 1994-95

Bulls – 1996-98

Lakers – 2000-02

Lakers – 2009-10

Heat – 2012-13

Warriors – 2017-18

Which NBA teams have won 3 championships in a row?

Lakers – 1952-54 & 2000-2002

Celtics – 1959-66

Bulls – 1991-93 & 1996-98

Which NBA team has the most consecutive NBA championships?

Celtics (8) – 1959, 1960, 1961, 1962, 1963, 1964, 1965, 1966

What player has the most championships?

Bill Russell – Celtics (11)

Sam Jones – Celtics (10)

Tom Heinsohn – Celtics (8)

KC Jones – Celtics (8)

Tom Sanders – Celtics (8)

John Havlicek – Celtics (8)

Who won the first NBA championship?

The Minneapolis Lakers won the first NBA championship in 1950. They defeated the Syracuse Nationals in six games, with future Hall of Famer George Mikan leading the way with 32.2 points per contest. The Lakers would go on to win three of the next four titles (1952, 1953, 1954), with Mikan leading the series in both points and rebounds.

What teams in the Eastern Conference have won a championship?

Team TitlesFinals
Appearances
Last
Title
Last Finals
Celtics17 22 20082022
Bulls6 6 19981998
76ers3 9 19832001
Pistons3 7 20042005
Heat3 6 20132020
Bucks2 3 20212021
Knicks2 8 19731999
Cavaliers1 5 20162018
Wizards1 4 19781979
Hawks1 4 19581961
Bucks2 3 20212021
Raptors1 1 20192019

What teams in the Western Conference have won a championship?

TeamTitlesFinals
Appearances
Last
Title
Last Finals
Appearance
Lakers183320202020
Warriors71220222022
Spurs5620142014
Rockets2419951995
Thunder*1419792012
Blazers1319771992
Mavericks1220112011
Kings1119511951
Nuggets1120232023

*-Won title in Seattle as SuperSonics