NBA Championship Odds 2023-24

2023-24 NBA Championship Odds: Bucks Favored After Dame Lillard Trade

Mama mia, how the NBA pendulum swings. Denver Nuggets fans are still wearing their championship t-shirts with pride, remembering their parade like it was yesterday. While Matt Ishbia and the Phoenix Suns thought they were the leaders of the NBA hype-train after trading for Bradley Beal. Yet, Adrian Wojnarowski dropped an absolute stunner on the NBA world with the news that Damian Lillard, thought to be on his way to the Miami Heat for months, has been traded to the Milwaukee Bucks.

The blockbuster trade shook the NBA world on Wednesday afternoon. Most importantly for bettors, the news has led to a huge shakeup in the NBA Championship odds.

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

Odds To Win NBA - Championship 2024
Boston Celtics+375
Milwaukee Bucks+400
Denver Nuggets+550
Phoenix Suns+550
LA Lakers+1200
Golden State Warriors+1600
Cleveland Cavaliers+2200
LA Clippers+2200
Miami Heat+2500
Dallas Mavericks+2800
Memphis Grizzlies+2800
Philadelphia 76ers+3300
New Orleans Pelicans+4500
New York Knicks+5000
Sacramento Kings+5000
Oklahoma City Thunder+6600
Atlanta Hawks+8000
Minnesota Timberwolves+8000
Brooklyn Nets+10000
Chicago Bulls+12500
Houston Rockets+12500
Toronto Raptors+12500
Indiana Pacers+15000
Orlando Magic+15000
San Antonio Spurs+15000
Utah Jazz+15000
Detroit Pistons+25000
Portland Trail Blazers+25000
Washington Wizards+25000
Charlotte Hornets+30000

Odds as of October 1st, 2023 12:15pm EDT.

With Dame Lillard now on his way to Milwaukee, the Bucks have surpassed the Denver Nuggets as +400 favorites to win the NBA Championship. Lillard gives the Bucks a new dynamic on offense that will allow Giannis Antentokoumpo far more space inside.

Milwaukee is closely followed by the reigning champion Denver Nuggets at +475, with Jayson Tatum and the Boston Celtics next at +500 odds.

Kevin Durant and the loaded Phoenix Suns are next at +600, with Lebron James and Los Angeles Lakers rounding out the top-5 at +1200.

how the nuggets won their first championship

Despite a history of choking, the Nuggets' throttled the Suns in six games to advance to the Western Conference Finals. Denver subsequently bullied the Lakers in a four-game Conference Final sweep, setting the Nuggets up with a momentum advantage vs the Heat in the NBA Finals. 

And, no surprise, Denver kept up its stellar play. 

While Game 2 (a 111-108 Heat win) showed Denver was beatable, the Nuggets bounced back with a resounding Game 3 win on Miami's home turf and have cruised since. The Nugs won at Ball Arena, capping off a picture-perfect playoff run.

Jokic, the clear NBA Finals MVP, was hilarious on the mic, deadpanning his responses about finishing the job and wanting to get home.

NBA Finals History

The NBA championship as we know it was inaugurated in 1947 when the Philadelphia Warriors bested the Chicago Stags, winning four games to one in a best-of-seven series. Not long after, the Lakers established a championship dynasty that lasted into the mid-1950s, only to be replaced by an even more ferocious Celtics dynasty. Boston and LA would clash for much of the 1980s and 1990s before giving way to Michael Jordan’s Bulls.

The team that wins the final series is awarded the Larry O’Brien Championship Trophy named after former commissioner Larry O’Brien, who brokered the ABA-NBA merger. The championship trophy was named after O’Brien when he retired in 1984.

The Bill Russell Trophy was introduced in 1969 and is given to the NBA Finals Most Valuable Player.

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

Without a doubt, the Warriors ran a dynasty during this era (and perhaps it’ll continue with a title defense in 2023). Golden State has won four of the last 10 championships and made it to the finals in six of 10. It’s also crazy to see the Dubs at minus money during the preseason. Sheer dominance.

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. The Bulls are the most efficient, sweeping six titles during the 1990s.

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.

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.
  • 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.

Popular NBA Futures Markets

NBA Conference Winner Markets

NBA Division Winner Markets

Best Bets

Popular NBA Stories

NBA Championship Odds FAQ

Who is the favorite to win the NBA championship?

Suddenly, the Nuggets are commanding favorites (-167) in the odds to win the NBA championship, followed by the Celtics (+275) and the Heat (+450).

Who won the NBA championship last season?

The reigning 2022 NBA champions are the Golden State Warriors, who knocked off the Boston Celtics in six games to win their fourth NBA championship in the last eight seasons.

Which NBA team has the most championships?

The Boston Celtics and Los Angeles Lakers are tied with 17 titles each. The Warriors are third with seven championships.

Which NBA teams have never made it to the Finals?

The Clippers, Nuggets, Bobcats/Hornets, Timberwolves, Grizzlies and Pelicans/Hornets have never appeared in an NBA Finals.

What’s the name of the NBA championship trophy?

The team that wins the final series is awarded the Larry O’Brien Championship Trophy named after former commissioner Larry O’Brien, who brokered the ABA-NBA merger. The championship trophy was named after O’Brien when he retired in 1984.