2022-23 NBA Championship Odds: Celtics Hold Chalk Position

As the NBA season whips past the trade deadline, the preseason betting favorite in the 2022-23 NBA championship odds has stayed strong. 

Right now, sportsbooks have the Boston Celtics, owners of the best record in basketball and the defending Eastern Conference champions, as the favorites in the NBA Finals odds for this season. The C’s currently sit as the +325 chalk, followed by the Milwaukee Bucks at +550 and the Denver Nuggets at +650.

While you’re here, check out some of our other NBA betting sites or unique basketball betting content like our popular first-quarter/first-half betting report or our analysis of which teams perform best on back-to-back days. 

If you’re a first-time NBA bettor, don’t sweat it. Our How to Bet on the NBA page has everything you need to know so you can feel comfortable making wagers on pro basketball. 

You can find the full 2022-23 NBA championship odds below.

Who Is Favored To Win The 2022-23 NBA Championship?

Odds as of February 8

Why Are The Boston Celtics Favored In the NBA Title Odds?

Despite an eventful offseason that saw a solid effort in free agency contrasted by a scandal resulting in the firing of head coach Ime Udoka, the C’s seemed unwavered. Boston shrugged off all the noise and came out of the gates playing fantastic basketball. As we said before, the Celtics own the best record in the league and are scoring the third-most points (117.6 points per game).

Jayson Tatum’s steady progression has also been a huge factor. The 24-year-old is averaging a career-high 30.9 PPG and has jacked up his field-goal percentage to .464. The Celtics are on fire, and Tatum is near the top of the NBA MVP odds. For all those reasons, the Celtics are favored in the NBA championship odds. 

NBA Championship Odds: Best Value Bets

We’re still early enough in the season for some solid value picks. Let’s see what looks good. 

Denver Nuggets (+650)

The Nugs have the third-best odds to win the NBA championship, but there is still value in backing them.

Denver’s regular-season resume has been good so far. The Nuggets have the best record in the Western Conference and have looked like one of the deepest teams in the NBA. Nikola Jokic, the reigning NBA MVP, isn’t scoring at the same outrageous output as in years past, but the rest of the roster has stepped up. Denver has four players averaging 15 or more points per game this season.

As a franchise, the Nuggets have a history of choking in the playoffs. Still, this +650 value will shrink (it was +800 a few weeks ago) if Denver continues to look like an elite squad. 

Dallas Mavericks (+1400)

As we’ve already established, superstars win championships in the NBA, which must be thrilling for the Mavericks, who have NBA MVP candidate Luka Doncic leading their squad. Now, they’ve added more star talent via a trade for Kyrie Irving.

Dallas desperately needed a move like this, too. The Mavs have hovered around the fringe-playoff territory for most of the year but have kicked it up a notch and are now sixth in the West. Doncic’s numbers will take a hit, but his squad’s ceiling is so, so much higher now. 

Before the Irving trade, sportsbooks had Dallas anywhere from +2500 to +3300 to win the NBA title. The number is much shorter now (+1400) but still long enough to warrant a value bet. 

NBA Championship Odds: Best Bet

Milwaukee Bucks (+550)

Don’t forget the Bucks won the title in 2020-21, when they started the season at +550 in NBA championship odds, and took the Celtics all the way to Game 7 in the 2021-22 Eastern Conference semifinals. With bench boss Mike Budenholzer in charge and Giannis Antetokounmpo a perennial NBA MVP candidate, Milwaukee is clearly capable enough to win a title this season.

Milwaukee still has a shot at claiming first place in the Eastern Conference before the season ends. Giannis is leading the squad — no surprise there — but Jrue Holiday and Brook Lopez have been excellent sidekicks. Khris Middleton is back, too, furthering the squad’s championship chances.

Defense wins championships. Right now, the Bucks have allowed the sixth-fewest points in the league. As a team, they’re impenetrable, which is only part of why we love them at +550 in the NBA championship odds.

How To Read 2022-23 NBA Championship Odds

You’ll notice that the odds are listed like this:

Let’s pretend you believe that the Celtics are the team to beat based on the odds listed above. If you were to lay down $100, you’d see a payout of $650 – you get your $100 back, plus your earnings of $550. At +550, the Celtics’ implied probability to win with these odds is 15.38 percent. Or maybe you’re set on the Warriors. If you were to bet $100 on the Warriors to win the 2022-23 NBA championship and it hits, you’d get $700 – your $100 is returned and you’d get $600 in profit.

Check out our Odds Calculator to see how much you’d win based on the odds and amount wagered, as well as the implied probability of all odds.

What Are NBA Futures?

Futures bets are made on events that have yet to take place. You make a bet like this far off in advance of the event, in this case, the team to win the championship. To make a bet like this, you would first use the info contained in this article to handicap your wager. Once you’ve made your decision on which team you think has the chops to win the 2022-23 NBA championship, you’re ready to go. For further information on how to bet on NBA games, be sure to check out our guide to basketball betting.