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
| Teams | Odds |
|---|---|
| Boston Celtics | +225 |
| Oklahoma City Thunder | +350 |
| New York Knicks | +1000 |
| Dallas Mavericks | +1100 |
| Cleveland Cavaliers | +1400 |
| Denver Nuggets | +1600 |
| Golden State Warriors | +1600 |
| Milwaukee Bucks | +2200 |
| Minnesota Timberwolves | +2200 |
| Phoenix Suns | +2200 |
Odds as of December 20th, 2024 03:28am EST. |
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
| Finals Matchup | Odds |
|---|---|
| Boston Celtics vs. Oklahoma City Thunder | +650 |
| Boston Celtics vs. Dallas Mavericks | +1200 |
| Boston Celtics vs. Minnesota Timberwolves | +1400 |
| New York Knicks vs. Oklahoma City Thunder | +1500 |
| Boston Celtics vs. Denver Nuggets | +1500 |
| Boston Celtics vs. Phoenix Suns | +1800 |
| Boston Celtics vs. Los Angeles Lakers | +2500 |
| Cleveland Cavaliers vs. Oklahoma City Thunder | +2500 |
| New York Knicks vs. Dallas Mavericks | +2600 |
| Boston Celtics vs. Golden State Warriors | +2700 |
Odds as of November 20, 2024 at FanDuel
2025 Exact NBA Finals Result Odds
| Finals Result | Odds |
|---|---|
| Boston Celtics over Oklahoma City Thunder | +1280 |
| Oklahoma City Thunder over Boston Celtics | +1460 |
| Boston Celtics over Dallas Mavericks | +2000 |
| Boston Celtics vs. Minnesota Timberwolves | +2200 |
| Boston Celtics over Denver Nuggets | +2300 |
| Oklahoma City Thunder over New York Knicks | +2600 |
| Dallas Mavericks over Boston Celtics | +2700 |
| Boston Celtics over Phoenix Suns | +2800 |
| New York Knicks over Oklahoma City Thunder | +3000 |
| Minnesota Timberwolves over Boston Celtics | +3400 |
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?
- 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.
