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NBA Championship Odds: Lakers Favored To Repeat in 2021

After a flurry of free agency signings, trades and the NBA draft, the landscape for the 2020-21 NBA season is starting to take shape and the Los Angeles Lakers remain the betting favorite in 2021 NBA championship odds.

The Lakers sit at +240 to win their second title in a row after being the last team standing in the NBA bubble. Los Angeles opened as a +400 favorite to repeat as champion but those odds dropped after some shrewd roster moves that’s given the Lakers arguably a better squad than last season’s.

Next on the board for NBA championship odds are the up-and-coming Brooklyn Nets, according to the best basketball betting sites. The Nets are at +500 to win it all and will debut their own 1-2 punch of Kevin Durant and Kyrie Irving after Durant missed all of last season due to a torn Achilles.

Two other legitimate contenders, the Milwaukee Bucks and Los Angeles Clippers, are each at +650. Then the odds to win the NBA title take a massive jump to +1600 for the Boston Celtics and Miami Heat.

With the 2020-21 NBA regular season expected to start on December 22, a lot of questions about contenders in NBA futures should be answered sooner rather than later.

For now, here are the full 2021 NBA championship odds for all 30 teams:

Who Is Favored To Win The 2021 NBA Championship?

2021 NBA Championship Odds
Los Angeles Lakers+240
Brooklyn Nets+500
Milwaukee Bucks+650
Los Angeles Clippers+650
Boston Celtics+1600
Miami Heat+1600
Golden State Warriors+1800
Denver Nuggets+2200
Dallas Mavericks+2200
Philadelphia 76ers+2200
Toronto Raptors+2800
Houston Rockets+3300
Utah Jazz+3300
Phoenix Suns+3300
Portland Trail Blazers+3300
New Orleans Pelicans+7000
Atlanta Hawks+7500
Indiana Pacers+10000
San Antonio Spurs+10000
Charlotte Hornets+12500
Memphis Grizzlies+12500
New York Knicks+15000
Orlando Magic+15000
Oklahoma City Thunder+15000
Washington Wizards+15000
Sacramento Kings+15000
Minnesota Timberwolves+20000
Detroit Pistons+20000
Chicago Bulls+25000
Cleveland Cavaliers+25000

Odds as of November 27 at Bovada

Why are the Lakers Favored to Win 2021 NBA Championship?

Having arguably the best 1-2 punch in the NBA in LeBron James and Anthony Davis automatically makes the Los Angeles Lakers a top-three team in the league to win the championship but when you consider their new supporting cast, you might as well call the Larry O’Brien Trophy engraver right now.

The Lakers were able to move some pieces around and acquire Dennis Schroder from the Thunder while also signing reigning Sixth Man of the Year Montrezl Harrell to a very team-friendly deal. Adding those playmakers to Davis and LeBron, the Lakers certainly deserve to be the favorites to win the 2021 NBA championship at this stage.

All of last season, in the bubble or not, the Lakers had a formidable defense that capitalized on getting stops and then scoring in transition. Outside of the Raptors, the Lakers were the best in the NBA in transition points per game and that ability to use defense to springboard your offense cannot be overlooked.

There are some who may believe that LA got an easy road to the title because they didn’t have to face either the LA Clippers or Milwaukee Bucks to win the championship. Well, the Lakers didn’t pick who they got to play in the playoffs and with the influx of fresh talent for the upcoming season to keep LeBron fresh for the playoffs, the Lakers should be a bigger favorite than +240.

Will We See More of the Miami Heat in 2021?

Arguably the best story of the NBA bubble (outside of the Phoenix Suns) was the improbable run of the Miami Heat to win the Eastern Conference and make it to the NBA Finals. Prior to the bubble, the Heat had the fourth-best odds to win the East championship behind the Bucks, Raptors and Celtics and had odds as high as +4000 to win it all. Based on Miami’s roster, it’s not going anywhere.

The Heat showed the basketball world that a collection of hard-working defensive specialists can exploit weaknesses in teams with more talent, evident in their five- and six-game series upsets of the Bucks and Celtics respectively. Had Bam Adebayo and Goran Dragic not suffered injuries, there’s a great chance we could be talking about Miami as the 2020 NBA champion.

Add in another proven defensive player like Avery Bradley and another year of development for Tyler Herro and Miami has all the tools to make another NBA Finals run. At +1600 in NBA championship odds, the Heat are worth the gamble because you know they’ll work for your money.

Can The Nets Crash the Lakers’ Party?

At +500, these 2021 NBA championship odds for the Brooklyn Nets could be either a steal or a complete bust. That’s because you can argue they have the best duo in the NBA in Kyrie Irving and Kevin Durant and, when healthy, KD is the best player in the league. His recovery seems to be on track and he should feast on the East in his return but it’s his running mate who could throw a wrench into his plans and those of potential Nets bettors.

Look, Kyrie Irving is a great player and an offensive dynamo driving to the hoop, but while his impact on team culture is up for debate, what isn’t is his propensity for injury. Irving missed almost all of last season because of a shoulder injury and missed chunks of time when he was with the Celtics, including the entire 2018 playoffs, which makes him more of a liability than an asset at this stage of his career.

This may be the year he stays healthy the whole season and makes another postseason impact like he did with the Cavaliers in the 2016 NBA Finals. But betting on that to happen at +500 might be a tough pill to swallow for some bettors. However, the counter to that argument, if Irving were to go down, is the Nets also have backcourt studs like Spencer Dinwiddie and Caris LeVert to shoulder the load, so Brooklyn may be a sleeping giant ready to take over the NBA.

Another potential reason to back the Nets is they’ve been reportedly linked to James Harden and if they were able to pull off a trade, they would instantly have the best collection of talent in the NBA. Time will tell if that happens or if those three superstars could even coexist on a basketball court.

Who Won NBA Free Agency?

No team reshaped its roster for a chance to win this upcoming season better than the Phoenix Suns did. By trading for PG Chris Paul and signing Jae Crowder, the Suns’ NBA championship odds went from +6000 to +3300. Even the latter odds are still enticing because Paul and Crowder are winners, will immediately elevate the talent around them and don’t require the ball to be effective. 

But as great as Paul is, the Suns will only go as far as the duo of Devin Booker and Deandre Ayton can take them. Booker and Ayton were sensational in the bubble but Phoenix got squeezed out of the final playoff spot in the West after going 8-0 SU and taking down top teams along the way.

These moves may not be enough to overcome the likes of the Lakers, Clippers and Nuggets in a seven-game playoff series, but don’t count out the Suns to emerge as the second-best team in the Western Conference.

How to Read 2021 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 +240
  • LA Clippers +650

Milwaukee Bucks +650

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 $340 – you get your $100 back, plus your earnings of $240. Or maybe you’re set on the Milwaukee Bucks. If you were to bet $100 on the Bucks to win the 2021 NBA championship and it hits, you’d get $750 – your $100 is returned and you’d get $650 in profit.

Check out our Odds Calculator to see how much you’d win based on the odds and amount wagered.

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 NBA championship, you’re ready to go.