The Oklahoma City Thunder (+175) once again have the shortest betting odds to capture the 2025 NBA championship, if only by a slim margin over the reigning champion Boston Celtics (+190). The Cleveland Cavaliers (+500) aren't too far behind, though, and both the Denver Nuggets (+1700) and Los Angeles Lakers (+1700) can each be had at greater than 20-to-1.
Here's a look at where Oklahoma City, Boston, and all other contenders currently sit in the hunt for the Larry O'Brien trophy.
Sportsbook
2025 NBA Championship odds
| Team | Odds |
|---|---|
| Oklahoma City Thunder | +175 |
| Boston Celtics | +190 |
| Cleveland Cavaliers | +500 |
| Denver Nuggets | +1700 |
| Los Angeles Lakers | +1700 |
| Golden State Warriors | +2100 |
| New York Knicks | +3300 |
| Minnesota Timberwolves | +7000 |
| Memphis Grizzlies | +7500 |
| Milwaukee Bucks | +8500 |
| Los Angeles Clippers | +12000 |
| Indiana Pacers | +15000 |
| Houston Rockets | +21000 |
| Detroit Pistons | +30000 |
| Orlando Magic | +70000 |
| Sacramento Kings | +70000 |
| Phoenix Suns | +70000 |
Odds as of March 20, 2025 at Sportsbook
2025 NBA Championship Contenders: Boston Celtics and Oklahoma City Thunder
It may simply be a formality that Oklahoma City and Boston collide in the Finals, and there would be nothing wrong with that. The Thunder have firmly established themselves as the class of the Western Conference with a double-digit lead over the rest of the pack, and while the Celtics may be behind the Cavaliers for the top seed in the Eastern Conference, they only dropped three games en route to last year's title and would likely be favored to eliminate Cleveland should they square off in a best-of-seven series again.
2025 NBA Championship Darkhorse: Los Angeles Lakers
The combination of Luka Doncic and LeBron James would be hard to bet against regardless of who Los Angeles matches up with in the playoffs, and that includes a still unproven and inexperienced Thunder team. One of the biggest question marks surrounding the new-look Lakers once Doncic was brought aboard was whether or not the defense could avoid being a liability, and it was quickly proven that the polar opposite could occur as the team ranks third overall in that department since Feb. 1 (109.9 points allowed per 100 possessions).
Both megastars will need to be healthy in order for the purple and gold brigade to even have a shot, and perhaps it will take a year of building further chemistry and adding pieces to the roster in order for the team to reach the point of bringing title No. 18 to the City of Angels.
2025 NBA Finalists Odds
| Finalists | Odds |
|---|---|
| Boston Celtics vs. Oklahoma City Thunder | +185 |
| Cleveland Cavaliers vs. Oklahoma City Thunder | +360 |
| Boston Celtics vs. Los Angeles Lakers | +1100 |
| Boston Celtics vs. Denver Nuggets | +1200 |
| Boston Celtics vs. Golden State Warriors | +1400 |
| Cleveland Cavaliers vs. Los Angeles Lakers | +2000 |
| Cleveland Cavaliers vs. Denver Nuggets | +2100 |
| New York Knicks vs. Oklahoma City Thunder | +2200 |
| Cleveland Cavaliers vs. Golden State Warriors | +2400 |
| Boston Celtics vs. Memphis Grizzlies | +4000 |
| Boston Celtics vs. Minnesota Timberwolves | +4100 |
| Milwaukee Bucks vs. Oklahoma City Thunder | +4400 |
Odds as of March 20, 2025 at FanDuel
2025 Exact NBA Finals Result Odds
| Finals Result | Odds |
|---|---|
| Oklahoma City Thunder over Boston Celtics | +450 |
| Boston Celtics over Oklahoma City Thunder | +450 |
| Oklahoma City Thunder over Cleveland Cavaliers | +680 |
| Cleveland Cavaliers over Oklahoma City Thunder | +880 |
| Boston Celtics over Los Angeles Lakers | +1700 |
| Boston Celtics over Denver Nuggets | +1800 |
| Boston Celtics over Golden State Warriors | +2100 |
| Oklahoma City Thunder over New York Knicks | +2900 |
| Los Angeles Lakers over Boston Celtics | +3200 |
| Cleveland Cavaliers over Los Angeles Lakers | +3200 |
| Denver Nuggets over Boston Celtics | +3500 |
| Cleveland Cavaliers over Denver Nuggets | +3500 |
| Cleveland Cavaliers over Golden State Warriors | +3800 |
Odds as of March 20, 2025 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?
- Winning and losing streaks
- Injuries to key players
- Seeding in the standings
- Win-loss records against specific opponents
- Postseason success
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:
- Which team will win the NBA Championship?
- Which player will win the Most Valuable Player award?
- Will Team X qualify for the NBA playoffs?
Last 10 NBA Championship Winners
| Year | Winning Team | Preseason Odds To Win Title | Opponent In Finals | Series |
|---|---|---|---|---|
| 2024 | Boston Celtics | +350 | Dallas Mavericks | 4-1 |
| 2023 | Denver Nuggets | +1800 | Miami Heat | 4-1 |
| 2022 | Golden State Warriors | +900 | Boston Celtics | 4-2 |
| 2021 | Milwaukee Bucks | +550 | Phoenix Suns | 4-2 |
| 2020 | Los Angeles Lakers | +450 | Miami Heat | 4-2 |
| 2019 | Toronto Raptors | +1850 | Golden State Warriors | 4-2 |
| 2018 | Golden State Warriors | -187 | Cleveland Cavaliers | 4-0 |
| 2017 | Golden State Warriors | -128 | Cleveland Cavaliers | 4-1 |
| 2016 | Cleveland Cavaliers | +280 | Golden State Warriors | 4-3 |
| 2015 | Golden State Warriors | +2800 | Cleveland Cavaliers | 4-2 |
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
| Team | NBA Titles | NBA Finals Appearances | Most Recent NBA Title |
|---|---|---|---|
| Boston Celtics | 18 | 23 | 2024 |
| Los Angeles Lakers | 17 | 32 | 2020 |
| Golden State Warriors | 7 | 12 | 2022 |
| Chicago Bulls | 6 | 6 | 1998 |
| San Antonio Spurs | 5 | 6 | 2014 |
| Philadelphia 76ers | 3 | 9 | 1983 |
| Detroit Pistons | 3 | 7 | 2004 |
| Miami Heat | 3 | 6 | 2013 |
| New York Knicks | 2 | 8 | 1973 |
| Milwaukee Bucks | 2 | 3 | 2021 |
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
| Team | Number Of Seasons | Furthest Finish |
|---|---|---|
| Los Angeles Clippers | 49 | Western Conference Final (2021) |
| Charlotte Hornets/Bobcats | 30 | Eastern Conference Semifinals (1993, 1998, 2001, 2002) |
| Minnesota Timberwolves | 29 | Western Conference Final (2004) |
| Vancouver/Memphis Grizzlies | 23 | Western Conference Final (2013) |
| New Orleans Hornets/Pelicans | 17 | Western Conference Semifinals (2008, 2018) |
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
- Four of the last six NBA Finals have been decided in six games.
- In the last 21 years, the Western Conference is 12-9 in NBA Finals.
- Also over the past 21 years, the No. 1 seed has won the championship 13 times. Those are solid odds.
- The lowest-seeded team to win the NBA Finals in recent history was the sixth-seed 1995 Houston Rockets.
- Since 2010, the top team in the regular season has won the championship five times.
