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?
| Team | Odds |
|---|---|
| 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 Bucks odds shifts 📈
— Odds Shark (@OddsShark) September 27, 2023
To win Championship: 🏆
+700 ➡️ +400
To win the East:
+275 ➡️ +175 https://t.co/x6Mgokf5pP
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.
Nikola Jokic this postseason:
— StatMuse (@statmuse) June 13, 2023
— 30/14/10
— 55/46/80%
— Beat KD and Booker in 6
— Beat LeBron and AD in 4
— Beat playoff Jimmy in 5
— Most playoff triple-doubles ever
— Most assists ever by a center
— First 30/20/10 Finals game
— Finals MVP
Top __ playoff run all-time. pic.twitter.com/V2GutOYNV0
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
| Year | Winning Team | Preseason Odds To Win Title | Opponent In Finals | Series |
|---|---|---|---|---|
| 2023 | Denver Nuggets | +1800 | Miami Heat | 4-1 |
| 2022 | Golden State Warriors | +900 | Boston Celtics | 4-2 |
| 2021 | Milwaukee Bucks | +550 | Phoenix Suns | 4-2 |
| 2020 | Los Angeles Lakers | +450 | Miami Heat | 4-2 |
| 2019 | Toronto Raptors | +1850 | Golden State Warriors | 4-2 |
| 2018 | Golden State Warriors | -187 | Cleveland Cavaliers | 4-0 |
| 2017 | Golden State Warriors | -128 | Cleveland Cavaliers | 4-1 |
| 2016 | Cleveland Cavaliers | +280 | Golden State Warriors | 4-3 |
| 2015 | Golden State Warriors | +2800 | Cleveland Cavaliers | 4-2 |
| 2014 | San Antonio Spurs | +1200 | Miami Heat | 4-1 |
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
| Team | NBA Titles | NBA Finals Appearances | Most Recent NBA Title |
|---|---|---|---|
| Los Angeles Lakers | 17 | 32 | 2020 |
| Boston Celtics | 17 | 22 | 2008 |
| Golden State Warriors | 7 | 12 | 2022 |
| Chicago Bulls | 6 | 6 | 1998 |
| San Antonio Spurs | 5 | 6 | 2014 |
| Philadelphia 76ers | 3 | 9 | 1983 |
| Detroit Pistons | 3 | 7 | 2004 |
| Miami Heat | 3 | 6 | 2013 |
| New York Knicks | 2 | 8 | 1973 |
| Milwaukee Bucks | 2 | 3 | 2021 |
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
| Team | Number Of Seasons | Furthest Finish |
|---|---|---|
| Los Angeles Clippers | 49 | Western Conference Final (2021) |
| Charlotte Hornets/Bobcats | 30 | Eastern Conference Semifinals (1993, 1998, 2001, 2002) |
| Minnesota Timberwolves | 29 | Western Conference Final (2004) |
| Vancouver/Memphis Grizzlies | 23 | Western Conference Final (2013) |
| New Orleans Hornets/Pelicans | 17 | Western 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.
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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.