NBA Championship Odds & Favorites 2025: Thunder Title Favorites After All-Star Weekend
While we predicted a relatively tame near future on the 2025 NBA championship odds market, we've already seen some shake-up at the top coming out of All-Star Weekend.
The Oklahoma City Thunder have overtaken the Boston Celtics - who have spent most of the season as the long favorites - at the top. The two teams have been what-and-what on the oddsboards for months, but the reigning champions' experience has kept them atop the charts. That is, until now.
While the NBA playoffs are still months away, we made our early NBA Finals predictions based on the best NBA championship odds.
NBA championship odds 2025
Live NBA championship odds from our best NBA betting sites.
- The Thunder and Celtics remain heavy title favorites after All-Star Weekend
- The Cavaliers are the only other team with odds shorter than 10/1 at our best sports betting sites
- The Knicks are climbing oddsboards amid their hot streak
- The Lakers have the third-best odds to win the West, even after the Mark Williams trade was rescinded
- The Warriors are still long shot to win another title, despite Draymond Green's confidence
NBA championship odds favorites 2025
Thunder NBA championship odds: +225
Has Sam Presti finally cracked the code? Oklahoma City is among the league's best teams, despite playing a chunk of the campaign without Isaiah Hartenstein and Chet Holmgren. The Thunder went into the break with the joint-best record in the NBA (44-10) and an eight-game lead atop the Western Conference.
As such, it's no surprise they're the new favorites. Oklahoma City is one of the best defensive units of the modern era, and they have the NBA MVP odds front-runner leading the charge on offense. Mark Daigneault's team has yet to win a championship, though, which has some bettors hesitant.
Best odds: +225 via BetMGM | Implied probability: 30.77%
Terms and conditions apply.
Celtics NBA championship odds: +235
Boston has the necessary tools to win another title - we know it, they know it, and oddsmakers know it. We've seen countless champions come out on autopilot the following year, which is why there's no talk of the Celtics falling off.
While Boston's record is still impressive and good enough for second in the East, Joe Mazzulla and Co. don't seem bothered by closing the gap between themselves and Cleveland. Yet, the Celtics have slowly closed the gap as the playoffs approach.
Best odds: +235 via DraftKings | Implied probability: 29.85%
My NBA championship odds teams to watch
Cavaliers NBA championship odds: +900
Cleveland still holds the East's top record at the break, which is a huge blow to those who believed the team would fall off after a 15-0 start. The Cavaliers bringing in Kenny Atkinson seems like one of the best coaching moves in recent memory, as he leads the NBA Coach of the Year odds.
It's hard to stop a team as offensively diverse as Cleveland, as its second-rated scoring offense shows. The Cavs have seven players - Donovan Mitchell, Darius Garland, Evan Mobley, De'Andre Hunter, Jarrett Allen, Ty Jerome, and Caris LeVert - averaging double figures. Good luck slowing them down.
A $10 winning wager on Cleveland at this stage returns $90 in profits.
Best odds: +900 via FanDuel | Implied probability: 10%
NBA conference winner odds
Here's a look at how the Eastern and Western Conference odds shake out as of Feb. 19 with odds courtesy of FanDuel.
| Eastern Conference | Odds | Western Conference | Odds |
|---|---|---|---|
| Celtics | -150 | Thunder | -130 |
| Cavaliers | +360 | Nuggets | +550 |
| Knicks | +500 | Lakers | +750 |
| Bucks | +1300 | Grizzlies | +1100 |
| Pacers | +6500 | Clippers | +1600 |
| 76ers | +8500 | Warriors | +3000 |
| Magic | +9000 | Timberwolves | +3200 |
| Pistons | +12000 | Rockets | +3300 |
| Heat | +21000 | Mavericks | +3600 |
| Bulls | +50000 | Suns | +6500 |
| Hawks | +50000 | Spurs | +9000 |
| Hornets | +50000 | Kings | +31000 |
| Nets | +50000 | Jazz | +50000 |
| Raptors | +50000 | Pelicans | +50000 |
| Wizards | +50000 | Trail Blazers | +50000 |
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).
NBA championship opening odds
- Celtics: +310
- Nuggets: +750
- Mavericks: +950
- Thunder: +950
- Bucks: +1000
- Timberwolves: +1000
- Knicks: +1600
- 76ers: +1600
- Clippers: +2000
- Warriors: +2500
- Lakers: +2500
- Suns: +2500
- Heat: +3500
- Grizzlies: +4000
- Cavaliers: +5000
- Pacers: +5000
- Pelicans: +5000
- Magic: +5000
- Kings: +5000
- Hawks: +10000
- Rockets: +10000
- Spurs: +10000
- Bulls: +15000
- Raptors: +25000
- Jazz: +25000
- Nets: +50000
- Hornets: +50000
- Pistons: +50000
- Trail Blazers: +50000
- Wizards: +50000
NBA Finals betting history
| Year | Team | Preseason odds |
|---|---|---|
| 2024 | Boston Celtics | +450 |
| 2023 | Denver Nuggets | +1800 |
| 2022 | Golden State Warriors | +1200 |
| 2021 | Milwaukee Bucks | +550 |
| 2020 | Los Angeles Lakers | +1800 |
| 2019 | Toronto Raptors | +6600 |
| 2018 | Golden State Warriors | -168 |
| 2017 | Golden State Warriors | +215 |
| 2016 | Cleveland Cavaliers | +300 |
| 2015 | Golden State Warriors | +2500 |
| 2014 | San Antonio Spurs | +100 |
| 2013 | Miami Heat | +250 |
NBA Championship FAQs
Who is favored to win the 2025 NBA championship?
The Oklahoma City Thunder are the favorites to win the 2025 NBA championship at +225. Those odds imply a probability of 30.77% that the Thunder will win it all.
Who won the NBA Finals last year?
The Boston Celtics won the 2024 NBA Finals, defeating the Dallas Mavericks in five games.
When will the 2025 NBA Finals be decided?
The last NBA Finals began on June 5. Expect the 2025 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
Here are our best NBA betting sites
- Caesars Promo Code: SBRBONUSDYW
- BetMGM Bonus Code: SBRBONUS
- bet365 Bonus Code: SBRBONUS
- FanDuel Promo Code
- DraftKings Promo Code
- Hard Rock Bet Promo Code
- Fanatics Sportsbook Promo Code
(21+. Gambling Problem? Call 1-800-GAMBLER)
* Bonuses not applicable in Ontario.
Not intended for use in MA.
Each betting site featured on SBR has been meticulously researched and selected by our team of experts. If you sign up through our links, we may get a commission.
Related pages
- Best Sports Betting Sites | Best Sportsbook Promos (U.S. only)
Related Articles
