The NBA Championship odds 2023-24 have already changed quite a bit through the first month and a half of the regular season. After winning the franchise’s first-ever NBA Championship, the Denver Nuggets are among the frontrunners to go back-to-back; however, the Boston Celtics, Milwaukee Bucks, and Phoenix Suns are not far behind them in NBA Championship Odds.
NBA Championship Odds 2023-24
Find the latest NBA Championship odds as we enter the off-season leading into the 2023-24 NBA season. Shop these NBA Championship odds across multiple sportsbooks below.
NBA Championship Odds: Who To Bet On? (11/27/23)
Our NBA Championship Odds: Who To Bet On? section is a newly added monthly review of the best NBA teams to bet on based on their recent performance, upside, injury, and coaching situations. We also evaluate their current betting odds and whether or not they have value. Take a look below, as this section will be updated monthly throughout the season!
Indiana Pacers (+25000)
At +25000 odds, no one can convince me that there isn’t value here. Even though it is a hail mary of epic proportions, the Indiana Pacers have looked incredibly competitive against the top teams in the league, including the Philadelphia 76ers, Milwaukee Bucks, and Cleveland Cavaliers.
The Pacers are “pacing” (pun intended) to put up the best offensive rating (123.6) in the history of the NBA this season. As a matter of fact, the next-closest team (2022-23 Sacramento Kings) is not even all that close. Indiana averages nearly 129 points per game on just shy of 40% three-point shooting and an eFG% of 58.7%. Despite their outrageous pace of play, Indiana commits the fifth-fewest turnovers per game in the NBA, too.
Most of Indiana’s success can be attributed to the emergence of Tyrese Haliburton as a legitimate superstar. “Hali” is averaging close to 26 points, 12 assists, and four rebounds per game on an outlandish 50% shooting from the field and 45% from three. Even more impressive is the fact that his three-point looks have largely come off the dribble.
Whether Indiana can keep this up is difficult to say, but if it can enter the All-Star break as a top three or four seed in the Eastern Conference, then the Pacers will likely make a “win-now” move for another veteran player to give them an even deeper bench. And, at that point, it could be worth a conversation.
NBA Championship Odds: Preseason/Early Season Favorites
The off-season is amongst us, giving us plenty of time to evaluate the favorites to win the NBA Championship in 2024. Check out our list of favorites below to see why we believe these teams’ NBA Championship odds have value!
The defending champions seem like a solid team to bet on, especially after their insanely efficient playoff run behind Jamal Murray and Nikola Jokic, who didn’t seem even remotely overwhelmed by the moment. Jokic played well enough in the regular season to warrant receiving a third-straight MVP despite being beaten out by Joel Embiid.
The Joker continued this play into the postseason, where he averaged a triple-double while the Nuggets boasted a 16-4 record. Anyone concerned that Denver didn’t face the “best teams” is just searching for excuses; it would not have mattered with how efficient it was on both ends of the floor.
Denver should return most of its players and now has the formula of what it needs to surround Jokic with to go from NBA Champion to NBA dynasty. The Nuggets are entirely healthy and will have no issue running through the Western Conference next season once again. This is likely the best value we will get this team leading up to the start of the season.
They will once again be virtually unbeatable at home and should take their championship confidence on the road, too. A No. 1 seed in the Western Conference should again be expected.
In an unexpected move from a team that has been to Game 7 of the Eastern Conference Finals and the NBA Finals in the past two seasons, respectively, the Boston Celtics decided to move on from former Defensive Player of the Year winner Marcus Smart, who had played for them for the past nine seasons.
While unexpected, this move makes a lot of sense for the Celtics; for one, they can now insert Derrick White into the starting lineup permanently. White is another spectacular defender and facilitator for Boston, and this move frees up some space in the backcourt. The haul that Boston got for Smart is exceptional: two draft picks and 7-foot-3 forward Kristaps Porzingis, one of the more efficient players in the league on both sides of the ball when he is healthy!
Porzingis gives the Celtics another talented scoring threat to help space the floor along with Jayson Tatum and Jaylen Brown. While Smart helped provide Boston with culture and a strong work ethic, the rest of these Celtics players have learned enough from him to pick up the slack in that regard.
As if that move was not enough, Boston wasted no time jumping in on the action surrounding the Jrue Holiday-Damian Lillard trade; it orchestrated a separate deal with Portland to bring in Holiday for Malcolm Brogdon, Robert Williams III, and two first-round picks (Golden State 2024 first-rounder and Boston 2029 first-rounder.)
The starting lineup of Derrick White-Jrue Holiday-Jaylen Brown-Jayson Tatum-Kristaps Porzingis is bound to frustrate opponents on both sides of the ball. For one, the C’s can switch most positions defensively, giving them a huge advantage in pick-and-roll defense. Even when they can’t, they will still have Kristaps Porzingis’ elite drop coverage to protect the rim.
On the other end of the floor, Boston now has an entire lineup filled with talented shot-makers, including Brown, Tatum, White, Porzingis, and Holiday. Every one of those players can get a bucket when needed, which is incredibly important in the postseason.
The key for Boston no longer revolves around talent and offense; it revolves around health and culture. As long as Porzingis stays healthy (he has struggled to stay on the floor the past few seasons), the Celtics will be positioned exceptionally well to dominate the Eastern Conference. Additionally, Boston needs to hold onto the culture that Marcus Smart helped establish, especially considering he is no longer on the team.
It did not take long for Phoenix to make its second-biggest splash since owner Mat Ishbia took over the team. The Suns traded Chris Paul, Landry Shamet, a few second-rounders, and a few pick swaps for three-time All-Star Bradley Beal, a 6-foot-4 shooting guard who is yet another master of the mid-range.
Even though the Suns dropped their conference semi-final series this past season against the Denver Nuggets (in six games), they are still probably the biggest threat in the Western Conference. Now, the addition of Beal could give Phoenix enough offensive firepower to compete with Denver. As far as talent goes, this is the best “Big Three” in the NBA right now.
Many people were a bit skeptical of this trade, as it further accentuates the Suns’ biggest weakness: their bench unit. However, Phoenix has made a number of additional moves this off-season to help eradicate that issue. Now, the Suns have Eric Gordon, Jusuf Nurkic, Grayson Allen, Damion Lee, Yuta Watanabe, Josh Okogie, Nassir Little, and Drew Eubanks in more minor roles. That will be plenty deep to compete with other top dogs in either conference.
Just like that, the Suns filled out their roster with a solid combination of defense, athleticism, playmaking, and shooting. Phoenix’s bench upside has skyrocketed now and could be a top ten unit in the league. No one saw that outcome as a possibility after the Suns went “all in” on moving Chris Paul for Bradley Beal, yet here we are.
“Value” is the word we will be honing in on here. For the New Orleans Pelicans NBA Championship odds, that is precisely what we have here. The Pelicans have flashed moments of brilliance: their inspired finish to the 2020-21 season after acquiring CJ McCollum, followed by nearly knocking off the No. 1 seeded Phoenix Suns in the postseason, and their strong first half to the 2022-23 season before succumbing to campaign-derailing injuries, are just two examples.
At 50-1 odds, New Orleans has been given less than a two percent chance to win the 2023-24 NBA Championship. This may not seem deficient at first, but let’s look at the facts. Through the first 40 games of last season, the Pels were 24-16, good for third place in the Western Conference, despite Brandon Ingram, CJ McCollum, and Zion Williamson a few handfuls of games together.
From that point on, New Orleans entered a “free fall,” and much of that can be attributed to health: Zion was shut down for the rest of the season, Brandon Ingram missed roughly two months, and several other key role players suffered significant injuries. So, what is there to be optimistic about, especially if this team can’t stay healthy? Fair point. However, what if they do? Isn’t that worth taking a flier on with nearly 50-1 odds?
The Pelicans will enter the season with McCollum, Zion, and Ingram all healthy, and they have an abundance of young talent that is bound to take a huge leap forward this year, including Herb Jones, Dyson Daniels, and Trey Murphy III. New Orleans also added the best movement shooter in the draft, Jordan Hawkins, to its dynamic and deep roster.
New Orleans is amongst the best at defending the three-point line, rebounding, and scoring in the paint. If this team stays healthy, similar to the Los Angeles Lakers towards the end of last season, they will not only be a tough out in the playoffs but amongst the NBA Championship odds favorites by that point.
Sacramento did nothing except improve this off-season, and it still has merely the 15th-best NBA Championship odds heading into the 2023-24 regular season, despite being the No. 3 seed in the Western Conference last year. Make it make sense.
The Kings brought in Chris Duarte and Sasha Vezenkov to round out their rotation this summer. Now, they have their starting lineup of De’Aaron Fox, Kevin Huerter, Harrison Barnes, Keegan Murray, and Domantas Sabonis, but also get to bring Davion Mitchell, Malik Monk, Duarte, Vezenkov, Trey Lyles, and Alex Len off the bench.
Here’s the genius of the Kings’ moves so far: they just bought low on Duarte, who posted 13 points, four rebounds, and two assists in his rookie season on 37% shooting from deep, and they are bringing Vezenkov over from Europe. Vezenkov is an uber-talented stretch four who is a bonafide sharpshooter; he just won EuroLeague MVP during the 2022-23 season.
Meanwhile, Duarte struggled with injuries and consistency last season, but with Sabonis on the floor the previous season (2021-22), he thrived. This reunion could be what Duarte needs to return to his previous form!
Further, this Kings team is fresh off having the highest offensive rating (118.6) in a single season in the history of the NBA, and they added to their core of players, giving them even more depth to prosper during critical bench minutes. Now, Sacramento could have an argument for boasting a top-five-ish bench unit, which will make it extremely tough to beat, especially during a seven-game playoff series.
Chris Duarte per 100 possessions with Domantas Sabonis, per PBPStats:
39% 3PT off of Sabonis passes
Very underrated acquisition by the Kings. pic.twitter.com/I252Eizd1c
— Joel Moran (@joelvmoran) July 2, 2023
As much as this hurts to say, the Los Angeles Lakers got better this off-season. Actually, they got a lot better. Los Angeles somehow retained Rui Hachimura, Austin Reaves, and D’Angelo Russell, which is a borderline miracle in and of itself; however, the Lakers did not stop there.
In addition to re-signing Hachimura, Russell, and Reaves, the Lakers also brought in Gabe Vincent, Jaxson Hayes, Taurean Prince, and Cam Reddish to replenish their roster. Vincent was the starting point guard for the Miami Heat during their NBA Finals run, and he could possibly force the Lakers to move Russell to more of a sixth-man role, which could actually be a better fit for both parties.
Perhaps we should emphasize once more that this was a mind-bogglingly good off-season.
Further, the Lakers already had terrific success in last year’s playoffs, making it all the way to the Western Conference Finals as a No. 7 seed before falling to the Denver Nuggets. While the Lakers did lose in four games, it is important to remember that they dropped three of those games by just six points or fewer; the series could have gone in a different direction with just a few small tweaks. And, if they had made it past Denver, they probably would have won the NBA Finals.
Additionally, in the playoffs, LeBron James had an all-time cold streak shooting from deep. This could have been a result of the fact that he was also playing through an injury that several doctors believed warranted surgery. Had James been healthy, it could have been a different outcome for Los Angeles.
As is always the case with the Lakers, the viability of this play ultimately comes down to their health. Can they stay relatively healthy for a large portion of the regular season? It is hard to say, especially with Anthony Davis, but this team is incredibly hard to beat when they do have everyone available.
We know – this is not the kind of future bet that you probably expected from us. However, as far as “Hail Mary” futures go, this one could be interesting.
Outside of Sacramento and Memphis, Minnesota has the most intriguing upside as a long-shot champion for a multitude of reasons, the main one being Anthony Edwards. Edwards has dominated the FIBA World Cup this summer for a USA team that is filled with All-Star or All-Star-caliber talent.
While players like Kevin Durant, LeBron James, Devin Booker, and Jayson Tatum are not on the roster, Ant has still established his dominance amongst his peers. Edwards has improved in all three of his NBA seasons, increasing his offensive output, playmaking, rebounding, and efficiency. We should expect another huge leap, as the Timberwolves are undoubtedly “his team.”
Additionally, it is difficult to deem the Karl Anthony-Towns and Rudy Gobert experiment a complete failure; they have only played 27 regular season games together, which is not nearly enough time to mesh and blend their games. Had KAT been healthy the entire year, it is possible that the Timberwolves could have finished as high as fourth in the Western Conference.
There is also reason to be optimistic about the continued growth of bench big Naz Reid and versatile forward Jaden McDaniels, two players who are still in their early 20s. Kyle Anderson and rookie Leonard Miller should also provide solid frontcourt depth. Expect a better rebounding team this season.
The main area of concern for Minnesota is point guard play and depth; however, Mike Conley Jr had some solid moments running the show for the Wolves. As a matter of fact, Conley boasted a 4:1 assist-to-turnover ratio in his 24 games for them. His 46/42/86 shooting split was also terrific and could be a positive sign of how he fits into this team’s picture. Don’t rule this team out just yet.
NBA Championship Odds: Teams To Avoid
For every championship favorite that we have, there are several teams whose NBA Championship odds should be avoided. A number of off-season events can factor into a team’s outlook for the upcoming year, including trade rumors, locker room issues, coaching changes, and more. Below, we highlight a few teams to avoid leading up to the 2023-24 campaign. Check them out below!
Well, would you look at that? After the Heat’s NBA Championship odds had skyrocketed amidst all of the “Damian Lillard to Miami” trade rumors this off-season, it turns out that he won’t be going there after all. Lillard was instead moved to the Milwaukee Bucks for Jrue Holiday and draft capital. Then, Holiday was moved to Boston for Robert Williams III, Malcolm Brogdon, and more draft capital.
In short, not only did the Miami Heat fail to get Damian Lillard, but they also failed to keep him away from other teams in the Eastern Conference. Now, Milwaukee has Lillard, Giannis Antetokounmpo, and Khris Middleton, while Boston has Holiday, Jaylen Brown, Jayson Tatum, and Kristaps Porzingis. Miami hardly stands a chance.
This especially becomes the case when considering that Miami also lost Max Strus and Gabe Vincent during the off-season; Vincent and Strus were two starters for last season’s Heat team that unexpectedly made the NBA Finals as a No. 8 seed.
Sure, Miami can dig deep into its always-impressive well of talent, including Nikola Jovic and rookie Jaime Jaquez Jr.; however, the odds that those two will be able to replace that lost production immediately are slim, and similar team chemistry this season is far from a guarantee.
There is no world where we feel comfortable betting on the Miami Heat’s championship odds at their current number, especially considering that the Cleveland Cavaliers, New York Knicks, and several other Eastern Conference teams have gotten quite a bit better this off-season.
The James Harden trade from Philadelphia to Los Angeles finally happened! After months of anticipation, Daryl Morey finally gave in and moved the disgruntled All-Star shooting guard, along with P.J. Tucker and Filip Petrusev, for Nic Batum, K.J. Martin, Robert Covington, Marcus Morris, two first-rounders, a 2029 pick swap, and two second-rounders.
Now, the Clippers have a starting lineup of Harden, Russell Westbrook, Paul George, Kawhi Leonard, and Ivica Zubac. Coming off the bench will still be Norman Powell, Terance Mann, P.J. Tucker, Amir Coffey, and Mason Plumlee. If this team were put together five years ago, it would be challenging to see them losing more than a handful of games in a season; however, injuries and age will likely continue to limit their upside.
Westbrook and Harden are below-average defenders, while George and Leonard are slowly deteriorating on that end of the floor. The latter two can still impact a game defensively, but not as much as they used to be able to. Further, it is to be seen whether or not this team can be a cohesive unit, as there is only one ball on the floor and four future Hall-of-Famers. It will take one or two of the aforementioned players to accept a backseat role offensively for Los Angeles to be a championship contender.
Additionally, this team has too many players who need the ball to be effective, especially Westbrook and Harden. For their current NBA Championship odds (fifth-best), there are a number of teams I would rather take a shot on to go all the way. If you’re adamant about betting on this team, at least wait a few games to see what they look like.
Although there is a lot to like about the direction that the Dallas Mavericks are headed, they are still nowhere near the caliber of team that can realistically compete for a championship in a loaded Western Conference. There is far from a guarantee that Dallas will make the postseason, as there are a number of very competitive teams, including Denver, Memphis, Sacramento, Phoenix, Los Angeles (both teams), Oklahoma City, Minnesota, New Orleans, and Golden State.
Dallas was one of the few busy teams this off-season, resigning Kyrie Irving, completing a sign-and-trade for Grant Williams, bringing in Seth Curry and Richaun Holmes, and drafting Olivier-Maxence Prosper and Dereck Lively II. Again, there is a lot to like when you also consider that the Mavs have MVP frontrunner Luka Doncic and up-and-coming scoring savant Jaden Hardy.
Still, Dallas failed to make the playoffs last season and struggled to find cohesiveness. While chemistry can take a little while to build, the Mavs’ 5-11 record when Luka Doncic and Kyrie Irving are both playing is concerning enough to keep us away from this future right now.
Further, the Mavs’ defensive rating of 116.1 was worse than Sacramento’s and ranked 25th in the NBA; it is challenging to see that improving enough to justify taking a flier on them despite bringing in Grant Williams and Dereck Lively. Williams and Lively will help Dallas in the long term, but they will not immediately fix its rebounding (29th in rebounding rate) or its interior defensive presence (27th in block percentage.)
It is becoming increasingly difficult to get behind the idea that a team that was the third-worst in net rating away from the Chase Center and fourth-worst in road record last season can somehow turn it around and become a title contender once again. While the Warriors have an abundance of championship DNA on their team, particularly in the form of Steph Curry, Klay Thompson, and Draymond Green, this team often looks lost and unmotivated on the road. Why is that?
The Warriors seem to be taking a very specific approach to each season now that their players are a bit older: they are punting a ton of road games and focusing primarily on winning at home. Golden State likely figures that as long as it makes the postseason, no matter the seed, it can get back to the NBA Finals. Perhaps the Dubs are right in thinking that, but it is still a major risk to take with other teams like Memphis, Phoenix, Los Angeles, and Denver in the west.
As alluded to above, Golden State’s age is concerning, as Green, Curry, Thompson, and Paul are all in their mid-to-late thirties. Further, the chemistry of this team with Paul rostered is still in question; those two parties have not always been fond of each other. Hall of Fame players, like the ones mentioned above, are more than capable of putting the past behind them, but at the moment, there are just too many variables to confidently bet on this team, especially since they have the seventh-best NBA Championship odds.
This should be fairly self-explanatory, but in the slight chance that it isn’t, we should go ahead and cover it. The Nets having the 16th-best NBA Championship odds does not make much sense and is not something worth betting on even if you are a believer in Ben Simmons’ ability to bounce back after a rough start with Brooklyn.
While Brooklyn made the 2023 NBA Playoffs, it was entirely because of the record it amassed with Kyrie Irving and Kevin Durant on the roster. After trading Durant and Irving, the Nets went 12-19 (including getting swept in the first round by the Philadelphia 76ers), which gave them a winning percentage of 38.7% in that span. Over the course of an entire 82-game season, Brooklyn would be projected to win roughly 32 games; that would have put the Nets in 13th place in the Eastern Conference.
Despite an obvious need for the Nets to make a big splash in free agency or through a trade, they are standing pat heading into the 2023-24 NBA season. The biggest areas of concern besides lacking overall star talent for Brooklyn are in its frontcourt: the Nets are an abysmal rebounding team on both ends of the floor. Last season, they ranked dead last in total rebounding percentage, and they are entering this year with the same frontcourt.
Further, the Eastern Conference has achieved much more parity than in previous seasons. Teams like Orlando and Indiana are projected to take big steps forward, while the Atlanta Hawks, Toronto Raptors, and Chicago Bulls could hover around .500 ball once again. Brooklyn’s outlook for this upcoming season is not a positive one.
NBA Championship Odds: Explained
NBA Championship Odds are very straightforward: they define the quantitative odds placed on a team to win the NBA Championship. It is one of the more straightforward futures bets to understand.
Therefore, it can be a favorite for beginners and experienced bettors. Below, we will discuss more specific examples of NBA Championship odds bets for the 2023-24 season and which teams are currently favored to win it all!
NBA Championship Odds: Changes
NBA Championship odds can be ever-changing until the actual event, series, or game occurs. What that means in the context of title odds is that these odds can change constantly based on injuries or a player or team’s performance.
There are constant changes in the NBA, whether an injury to a key or role player, locker room turmoil, coaching changes, and team chemistry. These changes are quantified and expressed in the change in a team’s title odds.
For instance, if a team is on the verge of being eliminated from the NBA Playoffs, their odds will drastically decrease. Sometimes betting early on a team to win the title can be beneficial (i.e., betting on the Golden State Warriors before the season to win the title in 2022) or can be detrimental (i.e., betting on the Lakers or Nets before the season to win the title.)
That is the risk of the betting type and is also why you can get more favorable odds on teams that you would think would be heavily favored.
NBA Championship Odds: Futures Bettors
NBA Championship Odds bettors are very speculative. These bettors spend a lot of time and money wagering on NBA futures bets and usually have a strong opinion on a specific team. This could be because of an off-season acquisition, free-agent signing, coaching change, or even a gut feeling. Having a bet that lasts so long before you win or lose can be fun, and some bettors enjoy that aspect of it.
Every team has NBA Championship odds, but that does not mean that they are all worth betting on. Some teams are in the midst of a complete rebuild, and despite having very enticing odds at +50000, there is no real reason to bet on these teams, as the odds they even make the playoffs are extraordinarily low.
For more NBA content, check out our Lineups YouTube page for matchup previews and analysis on the direction of specific teams!
NBA Championship Odds FAQ
Which team won the NBA Championship last season?
The Denver Nuggets won the 2022-23 NBA Championship behind multiple iconic playoff performances from two-time MVP Nikola Jokic and Jamal Murray. Denver coasted to the NBA Finals without much trouble and then won the series in just five games against the red-hot Miami Heat.
Which NBA team has the most championships?
The Los Angeles Lakers and Boston Celtics are tied for the most NBA Championships with 17 apiece. If Boston had won the NBA Finals in the 2021-22 season, it would have been in the lead with 18. However, they didn’t, and the Golden State Warriors increased their own championship total to 7.
What do NBA Championship Odds stand for?
NBA Championship odds for each team are listed out by sportsbooks based on each team’s probability of winning the NBA Finals. These odds fluctuate throughout the season based on every team’s performance, any applicable injuries, and trades or signings that could improve or hurt their chances.
Which team has the best NBA Championship Odds in 2023-24?
Currently, as of the summer of 2023, the Denver Nuggets have the best NBA Championship odds to repeat, but things can change quickly. Injuries, coaching changes, and trades can alter a team’s outlook heading. Keep checking this page constantly throughout the next year for updates.
Where can I bet on NBA Championship odds?
Vegas has always been a popular place to bet on NBA Championship odds; however, it is not always feasible to take a trip to Vegas. The most popular option for betting on NBA Championship odds is via online sportsbooks. See if your state has legalized sports betting on our site.