The reigning NBA champion Boston Celtics continue to have a stranglehold on the betting odds leaderboard to repeat as winners of the Larry O'Brien trophy in 2025 at +250, followed by the Oklahoma City Thunder at +500.

Here's a look at where the Celtics, Thunder, and all other 28 teams across the Association sit in this race. 

2025 NBA Championship odds

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Why are the Boston Celtics favored to repeat?

A recent NBA Cup victory over the once 15-0 Cleveland Cavaliers reminded the basketball world that Boston is still head honcho in the Eastern Conference and perhaps the entire league. The road to a title runs through them, and not that they needed it, but reinforcements are on the way.

Kristaps Porzingis recently participated in a full scrimmage and could be returning to the lineup sooner than originally projected, and that's a scary addition for a Celtics squad that's gone 12-3 SU without him and has the second-best offense overall by scoring 121.8 points per 100 possessions. 

After last season's dominant playoff run, the Celtics also command the 20.9% of the NBA Championship handle, according to BetMGM's data. 

2025 NBA Championship Contender: Oklahoma City Thunder

The Thunder have held down the fort to the best of their ability since Chet Holmgren went down with a serious hip injury, going 3-2 SU while still owning the No. 2 record in the loaded Western Conference at 11-4. 

Head coach Mark Daigneault has resorted to utilizing smaller lineups, and while the team is getting massacred on the boards (50.8 to opponents, 30th), Oklahoma City still ranks in the top 10 in both offense and defense over this five-game window. 

2025 NBA Finalists Odds

Odds as of November 20, 2024 at FanDuel

2025 Exact NBA Finals Result Odds

Odds as of November 20, 2024 at FanDuel

NBA Championship Betting Strategy

Much of what formulates odds for NBA title contenders obviously stems from regular-season success. However, once the postseason comes and goes, how far a team advances can greatly impact the championship odds heading into next year before free agency and the draft gets underway.

What Impacts NBA Championship Odds?

How To Bet On NBA Futures

An NBA futures bet tends to revolve around the outcomes of both the regular season and playoffs as opposed to specific games the day of.

Here are some examples of some of the more popular futures bets:

Last 10 NBA Championship Winners

The Celtics' win in 2024 marked the sixth-different champion in as many years, a feat which hadn't been accomplished by the league since 1975-80.

The last team to win consecutive championships was the Golden State Warriors in 2017 and 2018. That capped off a 10-year run in which only five different teams (Warriors, Lakers, Mavericks, Cavaliers, and Spurs) won a title.

NBA Teams With The Most Championships

Boston's 2024 win moved it past the Los Angeles Lakers for the most championship wins by a single franchise in league history. 

The Bulls are the most efficient, sweeping six titles during the 1990s, and the Warriors have the most recent title wins, with four in the last ten years.

NBA Teams That Have Never Appeared In A Finals

What a sad, sad list of teams. If you’re a fan of these squads, apologies in advance — your team (probably) isn’t breaking the curse this year. Never say never though! The Clippers and Pelicans have made exciting runs recently, we’re all rooting for them to make it eventually.

NBA Championship Odds Trends