NBA Championship Odds & Favorites 2025: Celtics, Thunder Separate From Pack

Nearly two months into the 2024-25 NBA season, the rest of the league is still playing catch-up to the Boston Celtics, who lead the latest NBA championship odds to hoist a second straight Larry O'Brien trophy.

That said, a fascinating title race is sure to develop among the elite squads.

• The Celtics 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 are the clear No. 2 option after starting the season with a pristine 18-5 record and a league-leading defense, even though they will remain without Chet Holmgren for the foreseeable future
• The Warriors have surged up the standings after starting the season 13-9 thanks to a well-rounded, super deep bench unit
• The 76ers are a stunning 6-15 on the campaign, but have played just one contest with all three of Joel Embiid, Tyrese Maxey, and Paul George on the floor

Here's a look at the latest NBA championship odds.

NBA championship odds 2024-25

Live NBA championship odds from our best NBA betting sites.

• The market still isn't a full believer in the Cavaliers, who own the fifth-best odds despite getting off to a perfect 15-0 start to the campaign and still sitting with the league's best record
• The Knicks have started to turn up the gas, with a much-improved Karl-Anthony Towns leading the way while sitting 12th in the NBA in points per game at 25.2
• The Suns remain a factor in the title race after seeming like an improved squad from last year with a new head coach and role players to go alongside their trio of stars

NBA championship odds favorite 2025

Celtics (+265)

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, too. The Celtics began the year by destroying the talented Knicks on opening night and haven't looked back en route to an impressive 19-5 record.

Even their losses have been close - the Celtics haven't dropped a game by more than six points on the campaign, and only one of their defeats was against a team outside the top six in their respective conference.

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 28.2 points, 8.9 rebounds, and 5.7 assists per game on 45.3% shooting from the field across his first 23 outings. Tatum is also making nearly four threes per game.

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, especially now that former All-Star Kristaps Porzingis has made his way back into the lineup following his lengthy injury.

The Celtics' most significant competition in the Eastern Conference comes from the Knicks and Cavaliers. But the early-season results indicate those clubs may not even be much of a challenge for them.

Best odds:  | Implied probability: 27.40%

My NBA championship odds team to watch

Cavaliers (+1300)

While there were definitely some more notable coaching moves in the offseason, the Cavaliers swapping JB Bickerstaff for Kenny Atkinson seems like one of the best early in the campaign. He's firmly taken control of the NBA Coach of the Year odds.

Atkinson has led the Cavaliers to a sparkling 21-3 record to begin the year, and the Cavaliers sit No. 2 in offensive rating and No. 8 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 13.7 points while shooting 45% 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. The defense is dominant too, with Mobley and Allen anchoring that end of the floor.

For the most part, the Cavaliers have played a very easy schedule, but they faced their first true test against the Boston Celtics in an In-Season Tournament game on Nov. 19.

While the Cavaliers lost that game, coming within one possession of the championship-defending Celtics on the road showed once and for all that this team is for real.

However, the Cavaliers' early-season success on both ends could continue in some respects, especially when fifth starter Max Strus gets reintroduced into the fold.

With that in mind, there's some value tied to a team getting just the fifth-best odds to win the title.

Best odds:  | Implied probability: 7.14%

NBA conference winner odds

Here's a look at how the Eastern and Western Conference odds shake out at this point of the season, with all odds courtesy of FanDuel.

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 FanDuel.

NBA Finals odds history

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 +265 at DraftKings to win it all. Those odds imply a probability of 27.40% 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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