NBA Championship Odds & Favorites 2025: Celtics, Thunder Lead the Pack

The 2024-25 NBA season is underway, and the race for the coveted Larry O'Brien trophy has begun.

The early results have proven what we expected: the rest of the league is playing catch up to the title-defending Boston Celtics. However, a fascinating NBA Championship odds race is sure to develop among the elite squads.

• The Celtics (+300) are firmly ahead of the pack with the season in full swing, as they were all offseason at our best NBA betting sites
• The Thunder (+500) are the clear No. 2 option by starting the season with a pristine 8-1 record and a league-leading defense
• The Warriors (+2500) have surged up the standings by starting the season 7-2 despite being short star Stephen Curry for a couple of outings
• The 76ers (+2500) are a stunning 1-7 on the campaign, but they have yet to play a contest with all three of Joel Embiid, Tyrese Maxey, and Paul George on the floor

Here's a look at the latest championship odds a couple of weeks into the season.

NBA championship odds 2024-25

NBA championship odds from our best sports betting sites as of Nov. 9

• Oklahoma City's (+500) defense has been historically great - its 97.2 defensive rating is miles ahead of the rest of the league, and 11 points higher than any team achieved last season
• The Knicks (+850) have started to turn up the gas led by much improved play from new acquisition Karl-Anthony Towns, who sits 16th in the NBA in points per game at 24.3
• The Suns (+1400) remain a factor in the title race after seeming like a much improved squad from last year with a new head coach and role players to go alongside their trio of stars

NBA championship favorite 2025

Celtics (+300)

It would have been understandable to expect the Celtics to come out of the gates slowly to kick off the 2024-25 NBA season after emphatically proving they were the best team in basketball during their championship run last postseason. Instead, they just reinforced the belief that they're the clear team to beat this year, as well.

The Celtics began the year by destroying the talented Knicks on opening night 132-109 and haven't looked back en route to an impressive 8-2 record, with only an overtime loss to the Indiana Pacers and a tough defeat at the hands of the surging Warriors as blemishes on their resume.

Star forward Jayson Tatum has come out with a vengeance after losing out on Finals MVP and seeing his minutes limited with Team USA in the Olympics this summer. He's averaging 30.5 points, 7.2 rebounds, and 4.9 assists per game on 47.8% shooting from the field across his first 10 games, and he's making 4.3 threes per game to boot.

If Tatum continues to rise up the NBA MVP odds ladder, that will only stack the odds against teams trying to slay the current giants of the NBA. The team's success is also coming with offensive star Kristaps Porzingis out with injury.

The Celtics' most significant competition in the Eastern Conference comes from within their own division in the Knicks and 76ers. But the early season results should indicate those clubs may not even be much of a challenge for them.

Best odds: +300 via BetMGM | Implied probability: 25%

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My NBA championship team to watch

Cavaliers (+1400)

While there were definitely some more notable coaching moves in the offseason, the Cleveland Cavaliers swapping JB Bickerstaff for Kenny Atkinson seems like one of the best ones early in the new campaign, and he's sure to rise up in the NBA Coach of the Year odds.

Atkinson has led the Cavaliers to a perfect 10-0 record to begin the year, and the Cavaliers sit No. 1 in offensive rating and No. 6 in defensive rating. That's after a season when the Cavaliers ranked just 18th offensively.

All four Cleveland stars - Donovan Mitchell, Darius Garland, Evan Mobley, and Jarrett Allen - are averaging at least 14.9 points while shooting 47% or better from the field. The team's offense finally looks cohesive with Mitchell in the fold after a shaky start to his time with the franchise, and the defense is as dominant as ever led by their twin towers in Mobley and Allen.

The one caveat is that the Cavaliers haven't played the league's toughest schedule thus far, kicking the year off with three bottom-feeders in the Toronto Raptors, Detroit Pistons, and Washington Wizards, playing the reeling Bucks twice and once without star Giannis Antetokounmpo, and beating a woefully short handed Golden State Warriors squad. Their recent victory over the Warriors sits as their most impressive win by far on the campaign.

That said, the Cavaliers' early season success on both ends has the chance of holding in some respects, especially when fifth starter Max Strus gets reintroduced into the fold. Having just the eighth-best odds to win the title, there's surely some value on Cleveland at the moment.  

Best odds: +2000 at DraftKings | Implied probability: 4.76%

NBA conference winner odds

Here's a look at how the Eastern and Western Conference odds shake out ahead of the season, with all teams listed at BetMGM.

How to bet on the NBA championship 

Betting on NBA championship odds is pretty simple. First, pick a reputable sportsbook that offers NBA futures.

Check out the odds for each team; for example, if the Lakers are +500 to win it all, a $100 bet on the Lakers would win you $500 if they take the championship. Place your bet by deciding how much you want to wager. If you bet $100 on the Lakers at +500 and they win, you’ll get $600 back ($500 profit + $100 stake).

Keep an eye on the teams' performances throughout the season to see how your bet is doing.

It's important to remember that odds move in future markets. It’s all about performance and perception. If a team starts playing better or worse than expected, their odds will change.

Injuries to key players can also significantly impact a team's chances and thus their odds. Trades and new player acquisitions can shift odds too. Public betting trends play a role - if a lot of people are betting on one team, sportsbooks might adjust the odds to balance their risk.

Expert analysis and predictions can influence how people bet, which in turn affects the odds.

How to read NBA championship odds

Reading NBA championship odds is straightforward. Odds are usually presented in a format like +500 or -200. Positive odds (e.g., +500) show how much profit you’d make on a $100 bet.

For example, a $100 bet at +500 odds would win you $500, plus your original $100 stake, totaling $600. Negative odds (e.g., -200) indicate how much you need to bet to win $100. So, a $200 bet at -200 odds would win you $100, plus your $200 stake, totaling $300.

These odds also reflect the probability of a team winning the championship. Lower odds (e.g., +300) suggest a higher likelihood, while higher odds (e.g., +2000) indicate a lower probability.

Sportsbooks adjust these odds based on factors like team performance, injuries, trades, and betting patterns.

For example, if the Lakers have +500 odds and the Nets have +700 odds, the Lakers are considered more likely to win. If you bet $100 on the Lakers and they win, you’d get $600 back ($500 profit + $100 stake).

2024 NBA championship odds over time

Latest odds via BetMGM.

Past NBA Finals winners

Teams with the most NBA Championships

NBA Championship FAQs

Who is the NBA Finals favorite?

The Boston Celtics are the favorites to win the 2024-25 NBA championship, with odds of +300 at BetMGM to win it all. Those odds imply a probability of 25% that the Celtics will repeat as NBA champions.

Who won the NBA Finals last year?

The Boston Celtics won the 2024 NBA Finals, defeating the Dallas Mavericks in five games. In 2023, the Denver Nuggets defeated the Miami Heat in five games to win their first NBA title in franchise history.

When will the 2025 NBA Finals be decided?

The last NBA Finals began on June 5. Expect the 2024-25 postseason to run on a similar schedule.

When's the last time an NBA team won back-to-back titles?

The last time an NBA team went back-to-back was when the Golden State Warriors won the championship in 2017 and 2018.

NBA betting odds pages

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