NBA Championship Odds 2023-24: Are Timberwolves Being Overlooked?

Despite holding the top seed in the Western Conference and second-best record across the entire league, the Minnesota Timberwolves find themselves with just the seventh-best odds of capturing the NBA championship at the conclusion of the 2023-24 campaign.

The Boston Celtics hold firm atop the pack at +230, while the reigning champion Denver Nuggets aren't too far back at +440.

Who Is Favored To Win The 2023-24 NBA Championship?

*updated as of February 26, 2024

Boston Celtics+230
Denver Nuggets+440
Los Angeles Clippers+500
Milwaukee Bucks+650
Phoenix Suns+1400
New York Knicks+2100
Minnesota Timberwolves+2300
Cleveland Cavaliers+2500
Oklahoma City Thunder+2500
Philadelphia 76ers+3000
Dallas Mavericks+3300
Golden State Warriors+3600
Miami Heat +4200
Los Angeles Lakers+5000
New Orleans Pelicans +5500

Who is favored to win the 2023-24 nBA Championship??

Keep an eye on: Minnesota Timberwolves, +2300

Rodney Dangerfield got no respect at all, and the Timberwolves are starting to become just like the late comedian if these betting odds are any indicator.

The Timberwolves have been the best team in the West longer than they haven't this season, yet three other teams in the conference have stronger odds of hoisting the Larry O'Brien trophy. The only logical explanation is that Minnesota may be achieving too much, too soon. 

The regular season is one thing, but can the Timberwolves run the gauntlet when it matters most? That remains to be seen for an organization that hasn't emerged from a single playoff series since 2004 when Kevin Garnett and Wally Szczerbiak were leading the charge. 

They're the only team in basketball allowing fewer than 110 points per 100 possessions (107.9), with a net rating of 6.9 only bested by Boston and the Oklahoma City Thunder

Two in a row: Denver Nuggets, +440

It's incredibly difficult to win a single championship, let alone two in as many years. Should the Nuggets pull off the feat, they'd be the first team to do so since the Golden State Warriors (2017-18) and just the fifth team since 2000.

Denver's chances begin and end with Nikola Jokic, who has the greatest odds of becoming a three-time Most Valuable Player winner at the end of the year. He ranks third and fourth in both rebounds and assists, respectively, while shooting just under 60 percent from the field.

The bench took a hit over the offseason by losing Bruce Brown and Jeff Green, and while the second unit only ranks 24th overall in points per game, the likes of Reggie Jackson and Christian Braun have weathered the storm to provide steady minutes while the starters rest. 

Until a team proves capable of stifling Jokic's production over a seven-game series, it's hard not to like Denver's chances to repeat even though it's been a hot minute since that's been pulled off. 

Last 10 NBA Championship Winners

NBA Champions (2014-2023)
YearWinning TeamPreseason Odds To Win TitleOpponent In FinalsSeries
2023Denver Nuggets+1800Miami Heat4-1
2022Golden State Warriors+900Boston Celtics4-2
2021Milwaukee Bucks+550Phoenix Suns4-2
2020Los Angeles Lakers+450Miami Heat4-2
2019Toronto Raptors+1850Golden State Warriors4-2
2018Golden State Warriors-187Cleveland Cavaliers4-0
2017Golden State Warriors-128Cleveland Cavaliers4-1
2016Cleveland Cavaliers+280Golden State Warriors4-3
2015Golden State Warriors+2800Cleveland Cavaliers4-2
2014San Antonio Spurs+1200Miami Heat4-1

The Nuggets' first-ever win in 2023 marked the fifth-different champion in as many years, a feat which hadn't been accomplished by the league since 1977-81.

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

Franchises with the most NBA Titles
TeamNBA TitlesNBA Finals AppearancesMost Recent NBA Title
Los Angeles Lakers17322020
Boston Celtics17222008
Golden State Warriors7122022
Chicago Bulls661998
San Antonio Spurs562014
Philadelphia 76ers391983
Detroit Pistons372004
Miami Heat362013
New York Knicks281973
Milwaukee Bucks232021

The Lakers and Celtics are tied for most titles, though Boston is far more efficient, winning 17 of 22 Finals appearances – both teams are in an excellent position to compete for the next NBA title, so keep an eye on this rivalry race. 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

Franchises That Have never made it to the finals
TeamNumber Of SeasonsFurthest Finish
Los Angeles Clippers49Western Conference Final (2021)
Charlotte Hornets/Bobcats30Eastern Conference Semifinals (1993, 1998, 2001, 2002)
Minnesota Timberwolves29Western Conference Final (2004)
Vancouver/Memphis Grizzlies23Western Conference Final (2013)
New Orleans Hornets/Pelicans17Western 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 five NBA Finals have been decided in six games.
  • In the last 20 years, the Western Conference is 12-8 in NBA Finals.
  • Also over the past 20 years, the #1 seed has won the championship 12 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 1991, the UNDER is 100-79 in championship games.
  • The Warriors are 14-2-2 ATS in NBA Finals games since the start of 2014-15.
  • Since 2010, the top team in the regular season has won the championship four times.

What are NBA Futures?

Futures are long-term bets on an outcome that usually occurs at the end of the regular season, or within the playoffs. Examples include betting on the NBA Finals, the Eastern and Western Conference champions, who will win Most Valuable Player, and the win total of a team during the regular season. In a nutshell, NBA futures betting focuses on the biggest individual and team achievements every year.

Timing is everything with successful futures bets. The sooner you pounce on the action, the bigger the payouts will be if you win the bet. However, you’ll have updated NBA betting lines and relevant news to analyze the longer you wait on a futures wager -- it's ultimately up to you to decide whether or not a futures option has enough potential at its current value!

How to read NBA Championship Odds 

As explained above, the odds for the NBA Championship will fluctuate over the course of the season. The highest odds for any favorites will usually be at the start of the season, dropping as successful performances are shown – even the highest-ranked teams can have odds of 3x or higher before the regular season!

Like any other bet, the higher the odds, the greater your eventual payout will be. You’ll see these odds change after almost every single game, so it’s important to understand how to bet with the goal of grabbing the best value selections. Keep in mind that championship bets will tie up your bankroll until the end of the season, so be sure you have the cash flow to back up these predictions if you want to continue making regular-season wagers.

NBA Division Winner Markets

If betting on the NBA finals is too risky for you, get granular with individual division betting — with a smaller number of teams to concentrate on, it's a great way to dip your toe into futures betting.

Best Bets

If nothing else, we're committed to finding you the best bets for value, week over week. You can review our best bets for the upcoming year below and visit our computer picks to learn how the model is evaluating every matchup.

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