It's still very much a two-horse race for 2025 NBA Most Valuable Player honors, but the gap between the two leading (and only) candidates is getting larger with Oklahoma City Thunder guard Shai Gilgeous-Alexander sitting atop the leaderboard at -750 followed by Nikola Jokic of the Denver Nuggets at +425.
Here's a look at where SGA, Jokic, and all other "contenders" well back of the top currently sit as they vie for the Michael Jordan trophy.
2025 NBA Most Valuable Player Odds
| Player | Team | Odds |
|---|---|---|
| Shai Gilgeous-Alexander | Oklahoma City Thunder | -750 |
| Nikola Jokic | Denver Nuggets | +425 |
| Giannis Antetokounmpo | Milwaukee Bucks | +50000 |
| Jayson Tatum | Boston Celtics | +50000 |
Odds as of March 17, 2025 at BetMGM
NBA Most Valuable Player Betting Favorite: Shai Gilgeous-Alexander, Oklahoma City Thunder (-750)
Regardless of what the odds may suggest, voters are ultimately going to have a difficult time differentiating between the contributions of Gilgeous-Alexander and Jokic to determine who's more deserving of the honor. Perhaps it will come down to preference, or maybe voter fatigue will work in SGA's favor, but no matter what the outcome may be, there's no wrong answer here.
The Thunder have been on cruise control in the Western Conference for most of the campaign, currently maintaining a 13-game lead for the No. 1 seed over the likes of Denver, the Houston Rockets, and Memphis Grizzlies. Gilgeous-Alexander leads all players in scoring at 33 points per game, and will soon become the seventh player to ever average 30 or more points in four different seasons. Being the best player on the best team after a runner-up finish for MVP a season ago is as strong a case as SGA could make, and it's working to a tee.
NBA Most Valuable Player Sleeper: Nikola Jokic, Denver Nuggets (+425)
Statistically, we may be witnessing the greatest offensive season by any one player in history. And yet, even with that being the case, Jokic achieving a fourth Most Valuable Player in five seasons is anything but a lock, which is a testament to how much success Gilgeous-Alexander is achieving in Oklahoma City.
Playing in his 10th season while averaging career highs in points (29.1), rebounds (12.8), assists (10.3), steals (1.8), and 3-point efficiency (41.3 percent) is incredibly impressive for someone with the career accolades Jokic already has. Ranking in the top three in points, rebounds, and assists has never been achieved by a player in one season, and hasn't been accomplished by anyone in separate seasons. SGA is going to win the debate in the win-loss column, but numbers to numbers, it's a no-contest favoring the Serbian juggernaut.
Past 10 NBA Most Valuable Player Winners
| Year | Player | Team | Opening Odds (Pre-Season) | Closing Ends (End of Regular Season) |
|---|---|---|---|---|
| 2024 | Nikola Jokic | Denver Nuggets | +300 | -4000 |
| 2023 | Joel Embiid | Philadelphia 76ers | +600 | -201 |
| 2022 | Nikola Jokic | Denver Nuggets | +1600 | -285 |
| 2021 | Nikola Jokic | Denver Nuggets | +2500 | -8500 |
| 2020 | Giannis Antetokounmpo | Milwaukee Bucks | +210 | -950 |
| 2019 | Giannis Antetokounmpo | Milwaukee Bucks | +475 | -1100 |
| 2018 | James Harden | Houston Rockets | +1100 | +175 |
| 2017 | Russell Westbrook | Oklahoma City Thunder | +200 | -700 |
| 2016 | Stephen Curry | Golden State Warriors | +650 | -400 |
| 2015 | Stephen Curry | Golden State Warriors | +1600 | -300 |
As we get further into the season, it’s natural for MVP odds to dip. Over the past 10 years, Jokic’s 2021 win represents the largest drop in odds, while Kevin Durant in 2014 represents the smallest James Harden is the only player on this list with odds higher than 2:1 by the end of the regular season. MVP odds remain an attractive payoff if you're willing to take a chance and bet early into the NBA season.
Keep in mind that the NBA’s Most Valuable Player award is given to the player who is considered the best player in the league during the regular season – it does not take into account playoff performance or past season performances. The award is voted on by a panel of basketball writers after the season concludes.
Who has won the most NBA Most Valuable Player Awards?
| Player | # MVP Awards Won | Winning Team of MVP |
|---|---|---|
| Kareem-Abdul-Jabbar | 6 | Milwaukee Bucks (3), Los Angeles Lakers (3) |
| Bill Russell | 5 | Boston Celtics |
| Michael Jordan | 5 | Chicago Bulls |
| Wilt Chamberlain | 4 | Philadelphia 76ers |
| LeBron James | 4 | Cleveland Cavaliers (2), Miami Heat (2) |
| Moses Malone | 3 | Houston Rockets (2), Philadelphia 76ers (1) |
| Larry Bird | 3 | Boston Celtics |
| Magic Johnson | 3 | Los Angeles Lakers |
| Nikola Jokic | 3 | Denver Nuggets |
It’s no surprise seeing Abdul-Jabbar’s name at the top of this list – one of the best players of all time, he dominated the league six times between two different squads, earning his rightful place as the most decorated MVP winner in the NBA. Tailing him, Jordan and Bill Russell contributed five MVP wins within ten years each.
NBA Teams with the Most Most Valuable Player Winners
| Team | # MVP Awards Won | Most Recent Winner |
|---|---|---|
| Boston Celtics | 10 | Larry Bird (1986) |
| Los Angeles Lakers | 8 | Kobe Bryant (2008) |
| Philadelphia 76ers | 7 | Joel Embiid (2023) |
| Chicago Bulls | 6 | Derrick Rose (2011) |
| Milwaukee Bucks | 5 | Giannis Antetokounmpo (2020) |
| Houston Rockets | 4 | James Harden (2018) |
Although Boston tops our list with 10 MVP winners throughout their history, they haven’t had a player earn the honor in over 30 years – Russell contributes half of these honors alone. The Lakers are just behind their rivals with a star-studded cast of MVPs including Abdul-Jabbar, Kobe Bryant, Shaquille O’Neal, and Magic Johnson.
NBA Most Valuable Player Winners by Position
| Position | # MVP Awards Won |
|---|---|
| Center | 30 |
| Point Guard | 11 |
| Power Forward | 11 |
| Small Forward | 9 |
| Shooting Guard | 8 |
Centers are a favorite candidate for MVP, and it’s not hard to see why – inherent size and athleticism help them create defensive shutdowns, secure rebounds, and power through defenders on offense.
In a role that allows excellence at all levels of the game, a star center can stump the opponent’s offense and rack up points for their side of the board; this gives them heightened attention in the NBA media and promotes their case for MVP candidacy throughout the season.
NBA Teams With Zero Most Valuable Player Winners
The following eight teams have never had a player be named MVP throughout their history: Indiana Pacers, Charlotte Hornets, New Orleans Pelicans, Memphis Grizzlies, Toronto Raptors, Detroit Pistons, Orlando Magic, and the Brooklyn Nets.
How To Read NBA MVP Odds
When you visit your NBA betting site of choice, you’ll notice 2024-25 NBA MVP odds laid out like this:
- Nikola Jokic +350
- Luka Doncic +380
- Shai Gilgeous-Alexander +550
- Giannis Antetokounmpo +550
Unlike a moneyline bet where favorites are shown by the minus sign (-) and underdogs have a plus sign (+), the player with the lowest odds with the plus sign (+) is the fave. In this scenario, Nikola Jokic is favored. If you were to bet $100 on Jokic in the NBA MVP betting odds and it hits, you would win $350 – your $100 is returned and you would get $350 in profit.
If you were to bet on which player will be named MVP, you would make a futures bet.
What Is A Futures Bet?
This is a bet made on events that will happen in time. In this case, it’s MVP. To make a futures bet, you would first use the handicapping info on this page to make your decision. Our Odds Calculator can give you an idea of how much you’d win based on the MVP odds and the amount of money you bet.
