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2021-22 NBA Championship Odds: Nets Still Big Favorites

James Harden's Brooklyn Nets are favored in the latest 2021-22 NBA Championship odds.

As we approach the midway point of the 2021-22 NBA season, there’s no better time to look at NBA championship odds.   

The Western Conference has a few teams that have separated themselves from the pack, but the East is clogged from top to bottom and has seven teams within four games of first place.

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After a disappointing Game 7 loss to the Bucks in the second round of the playoffs last season, the preseason favorite Brooklyn Nets (+260) still sit atop the oddsboard at Bovada as we head toward February.

Next up are the Golden State Warriors (+475), the Phoenix Suns (+600) and the defending champion Milwaukee Bucks (+650) to round out the top four teams. 

A lot can change overnight in the NBA news world, so stay up to date with the latest NBA futures and make sure to check out NBA Series Prices odds when the playoffs roll around.

For now, here are the full 2021-22 NBA championship odds for every team in the NBA.

Who Is Favored To Win The 2021-22 NBA Championship?

Latest 2021-22 NBA Championship Odds
TeamCurrent Odds
Brooklyn Nets+260
Golden State Warriors+475
Phoenix Suns+600
Milwaukee Bucks+650
Miami Heat+1200
Utah Jazz+1200
Los Angeles Lakers+1800
Chicago Bulls+2000
Philadelphia 76ers+2000
Memphis Grizzlies+2800
Los Angeles Clippers+4000
Dallas Mavericks+5000
Denver Nuggets+5000
Boston Celtics+6000
Atlanta Hawks+8000
Charlotte Hornets+10000
Cleveland Cavaliers+10000
Minnesota Timberwolves+20000
Toronto Raptors+20000
New York Knicks+25000
Washington Wizards+30000
Portland Trail Blazers+50000
Detroit Pistons+100000
Houston Rockets+100000
Indiana Pacers+100000
New Orleans Pelicans+100000
Oklahoma City Thunder+100000
Orlando Magic+100000
Sacramento Kings+100000
San Antonio Spurs+100000

Odds as of January 22 at Bovada

What Are The Bucks’ Chances Of Repeating?

While teams passed them in NBA championship odds, the Milwaukee Bucks entered the 2021-22 season with a very similar roster.

Finals MVP Giannis Antetokounmpo, Khris Middleton, Brook Lopez and Jrue Holiday make the Bucks one of the undisputed top teams in the league and certainly one of the top two or three on paper in the Eastern Conference. 

While it makes sense that a healthy Nets team be ranked over Milwaukee, any questions about Giannis’ ability to perform come playoff time have been more than answered and it will be hard to bet against them in a seven-game series next spring. 

It wasn’t the easiest start to the season either for the Bucks, but they are still near the top of the standings sitting at 29-19 and fourth in the East.

Brooklyn Nets (+260)

At +260, you aren’t getting much meat on the bone for your bet considering the other options available. But it’s hard to take a realistic look at the landscape of the NBA and say the Nets won’t be in the NBA Finals this season if they get a healthy playoff from Kevin Durant, Kyrie Irving and James Harden. 

Last season, the trio played just eight regular-season games together and still locked down the No. 2 seed in the East. However, the team was in shambles come the end of their series with Milwaukee as both Harden and Irving missed time with injuries.

It’s not a bet that will win you much money and these odds could continue to shrink as the season goes on.   

The Nets are first in the East at 29-16.

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Phoenix Suns (+600)

The case for the Phoenix Suns in NBA championship odds is an easy one to make now that they’ve reached a final.

With Chris Paul back in the mix, a trio of Paul, Devin Booker and Deandre Ayton is a very attractive bet at +600 considering the success they had in the 2020-21 NBA playoffs. 

The Suns are 35-9, sit first in the West and have the best record in the league. This is a really good team that should be poised for another deep playoff run, but their price is dropping rapidly. The Suns were at +1300 a month ago, but +600 is still good value right now. 

Chicago Bulls (+2000)

While some people might have been waiting for the Bulls to come back to earth, they have done nothing but continue to rise. Now second in the East at 28-16 with two legitimate NBA MVP candidates in DeMar DeRozan and Zach LaVine, the Bulls must be taken seriously and are a great bet at +2000, ninth on the NBA championship odds table.

The Bulls are 10th in the NBA in net rating (third in offensive rating) and are the best three-point shooting team in the league.

The issue for Chicago could be injuries. LaVine and Lonzo Ball are both out indefinitely now with knee injuries.

Best Bet: Miami Heat (+1200)

The acquisition of Kyle Lowry was a major boost to a Heat roster that now includes Lowry, Jimmy Butler, Tyler Herro, Bam Adebayo, Victor Oladipo and Duncan Robinson. Adding P.J. Tucker from the Bucks was an under-the-radar move that helps on the defensive end as well.

This is all of a sudden a much better roster than the one that was in the NBA Finals in the bubble in 2019-20. 

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The East is tough, and the Heat would be rightful underdogs in a series against either Milwaukee or Brooklyn, but injuries can derail a top team in an instant.

Betting on the Heat at +1200 is one of the best bets on the board at the moment as one of the most improved rosters in the league. Miami’s odds were at +2500 just a few weeks ago and have been steadily shrinking as the team sits second in the East at 29-17. They are tied with the Nets and Bucks for most wins in the conference.

How To Read 2021-22 NBA Championship Odds

At the sportsbook – a fancy way to say NBA betting site – you’ll notice that the odds are listed like this:

  • LA Lakers +210
  • LA Clippers +600

Milwaukee Bucks +600

Let’s pretend you believe that the Lakers are the team to beat based on the odds listed above. If you were to lay down $100, you’d see a payout of $310 – you get your $100 back, plus your earnings of $210. At +210, the Lakers’ implied probability to win with these odds is 32.26 percent. Or maybe you’re set on the Milwaukee Bucks. If you were to bet $100 on the Bucks to win the 2021-22 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 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 2021-22 NBA championship, you’re ready to go. For further information on how to bet on NBA games, be sure to check out Odds Shark’s guide to basketball betting.