Celtics

NBA Championship Odds 2023-24: Celtics Continue To Be Favorites For Larry O'Brien Trophy

Four teams currently have greater than 10-to-1 odds to win the 2023-24 NBA championship, led by the respective leaders in both the East and Western Conferences.

The Boston Celtics sit atop the odds at +210, followed by the reigning champion Denver Nuggets at +310.

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

TeamOdds
Boston Celtics+210
Denver Nuggets+310
Los Angeles Clippers+510
Milwaukee Bucks+750
Oklahoma City Thunder+1900
Phoenix Suns+2400
New York Knicks+3000
Dallas Mavericks +3200
Minnesota Timberwolves+3200
Cleveland Cavaliers+3400
Miami Heat+3400
Philadelphia 76ers+3700
Los Angeles Lakers+4200
Golden State Warriors+4500
New Orleans Pelicans+6500

Leading the way: Boston celtics, +210

No team is under more pressure to win a title this season than the Celtics, who've reigned atop the Association more than they haven't on the back of what's currently the No. 1-ranked offense and second-ranked defense. 

With the bar set as high as Boston's set it, and with more of a gap between them and the second seed than the one which exists between the second and eighth seeds in the East, anything less than hoisting the Larry O'Brien trophy wouldn't live up to the extraordinary expectations set upon them.

With Jayson Tatum and Jaylen Brown as arguably the league's top dynamic duo, and with All-Star talent surrounding them in the form of Kristaps Porzingis, Jrue Holiday, and Derrick White, outside of some uncharacteristic blown leads for what's essentially meaningless games in March, there's been little reason to doubt their chances of going all the way. 

Two in a row: Denver Nuggets, +310

It's incredibly difficult to win a single championship, let alone two in as many years. Should the Nuggets pull off the feat, they'd be the first team to do so since the Golden State Warriors (2017-18) and just the fifth team since 2000.

Denver's chances begin and end with Nikola Jokic, who has the greatest odds of becoming a three-time Most Valuable Player winner at the end of the year. He ranks fourth in both rebounds and assists, respectively, while shooting just under 60 percent from the field.

The bench took a hit over the offseason by losing Bruce Brown and Jeff Green, and while the second unit only ranks 25th overall in points per game, the likes of Reggie Jackson and Christian Braun have weathered the storm to provide steady minutes while the starters rest. 

Until a team proves capable of stifling Jokic's production over a seven-game series, it's hard not to like Denver's chances to repeat even though it's been a hot minute since that's been pulled off. 

NBA Championship Betting Strategy

Much of what formulates odds for NBA title contenders obviously stems from regular season success.

The reason why the Celtics and Nuggets continue to be the commanding favorites is that they've been near the top of the standings for pretty much the entire year, leaving oddsmakers no other choice but to give them such strong positioning. 

What Impacts NBA Championship Odds?

  • Winning and losing streaks
  • Injuries to key players
  • Seeding in the standings
  • Win-loss records against specific opponents

How To Bet On NBA Futures

An NBA futures bet tends to revolve around the outcomes of both the regular season and playoffs as opposed to specific games the day of.

Here are some examples of some of the more popular futures bets:

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

The Nuggets' first-ever win in 2023 marked the fifth-different champion in as many years, a feat which hadn't been accomplished by the league since 1977-81.

The last team to win consecutive championships was the Golden State Warriors in 2017 and 2018. That capped off a 10-year run in which only five different teams (Warriors, Lakers, Mavericks, Cavaliers, and Spurs) won a title.

NBA Teams With The Most Championships

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 – both teams are in an excellent position to compete for the next NBA title, so keep an eye on this rivalry race. The Bulls are the most efficient, sweeping six titles during the 1990s, and the Warriors have the most recent title wins, with four in the last ten years.

NBA Teams That Have Never Appeared In A 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. Never say never though! The Clippers and Pelicans have made exciting runs recently, we’re all rooting for them to make it eventually.

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.
  • Also over the past 20 years, the #1 seed has won the championship 12 times. Those are solid odds!
  • The lowest-seeded team to win the NBA Finals in recent history was the sixth-seed 1995 Houston Rockets.
  • 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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