New Orleans Pelicans 2025-26 Season Preview, Betting Odds

"New Orleans is sinking, man, and I don't wanna swim." A 28-win drop year over year for the Pelicans, combined with them being the first team ever to be at least six points worse per 100 possessions on both ends from the season prior, has the franchise facing a bit of an identity crisis. Can they be as good as they were in 2023-24 once again? Were important pieces missing significant time the simple explanation for why things went off the rails, or was there more to it?

This 2025-26 season preview looks at all important betting odds pertaining to the Pelicans as they attempt to understand who they are, what they can be, and if they can even stay healthy enough long enough to figure any of that out.

(Betting odds will be updated up until the start of the regular season. Be sure to check in regularly for any changes to numbers and picks)

New Orleans Pelicans 2025 NBA Draft

Selected Jeremiah Fears (Oklahoma) No. 7 overall
Selected Derik Queen (Maryland) No. 13 overall
Selected Micah Peavy (Georgetown) No. 40 overall

New Orleans Pelicans 2025 Re-Signings

Herb Jones agrees to three-year, $68-million extension

New Orleans Pelicans 2025 Additions

Saddiq Bey acquired via trade with Washington Wizards
Kevon Looney agrees to two-year, $16-million contract
Jordan Poole acquired via trade with Washington Wizards

New Orleans Pelicans 2025 Departures

Bruce Brown agrees to one-year contract with Denver Nuggets
C.J. McCollum traded to Washington Wizards
Kelly Olynyk traded to New Orleans Pelicans

New Orleans Pelicans 2026 NBA Championship, Western Conference, Southwest Betting Odds

Team	NBA Finals Odds	Western Conference Odds	Southwest Division Odds
New Orleans Pelicans	+50000	+22500	+10000

Best Bet: N/A

For a team like New Orleans entering this upcoming campaign ranking last in continuity, a fresh start and new lease on life may just be the cure for what ails them. Roughly 50 percent of the minutes played in 2024-25 are by those still on the roster, which is well behind the 29th-ranked Phoenix Suns at 59 percent (h/t John Schuhmann). Of the 25 different players who suited up for the Pelicans, only two made 60 or more appearances (Yves Missi and Jeremiah Robinson-Earl) and just one was a semi-regular member of the starting lineup (Missi). Zion Williamson and Dejounte Murray played a combined 61 games, as well, and the front office dealt Brandon Ingram after six years for draft picks and two players who've since moved on to greener pastures. Such an extreme lack of availability would take the legs out from under any basketball roster, but being able to regroup with some younger pieces and hopefully move forward together should help erase the memory of what was the worst winning percentage since the franchise was renamed.

Some of the decision-making behind bringing aboard the incoming pieces is a tad questionable, though. The new front office tandem of Joe Dumars and Troy Weaver parted with the No. 23 pick (Asa Newell) to move up 10 spots and select Derik Queen, but that also cost a 2026 unprotected first rounder which will likely end up in the hands of the Atlanta Hawks and is projected to land high in the order. Queen may not be ready to play opening night after undergoing wrist surgery either, and that was already a big price to pay for someone who will be fighting for minutes in the frontcourt with Missi and veteran Kevon Looney. Moving veteran C.J. McCollum in a package to snag Jordan Poole from the nation's capital was likely incentivized by the financial strain of being up against the luxury tax, on top of wanting to get younger and incorporating a gunslinger who fits the core's timeline. On the other hand, Poole's stock cratered in Washington, exposing him as a better fit coming off the bench like he was with the Golden State Warriors as opposed to being a focal point on offense.

There's not a single player on the Pelicans who's 30 years of age or older, but with injuries constantly piling up, some of their bodies probably feel like they've endured a lifetime of hardship. While Murray may be ahead of schedule in his recovery from a torn Achilles, he's still going to miss at least half of the season if the best-case scenario unfolds, which will at least free up some playing time to see what New Orleans has in Oklahoma guard Jeremiah Fears. Beyond that, Williamson's status is perpetually up in the air, so a lack of confidence in who's supposed to be the cornerstone of the organization to even be able to compete is beyond disheartening. The one year he played at least 70 games just so happened to end with the Pelicans' best record since 2008, so if you think last season was truly an anomaly, then you must also believe Williamson has it in him to get his body right. Such blind faith is misguided, so we're bound to see a lot more of what we just witnessed unraveling in the Big Easy as opposed to some sort of miraculous overnight turnaround.

New Orleans Pelicans 2025-26 NBA Win Total, Make Playoffs Odds

Team	Win Total	OVER	UNDER	Odds To Make Playoffs
New Orleans Pelicans	30.5	+104	-128	+800

Best Bet: UNDER 30.5 wins, -108

The only team with a lower projected win total in this market for the Western Conference is the Utah Jazz, and that's simply not a place you want to be. We can go around in circles about the validity of New Orleans' recent 21-61 record and if it holds any weight at all because of injuries, but the fact of the matter is that numbers never lie.

The aforementioned recovery period for Murray, the inconsistencies of Poole, the time Williamson will likely miss, and everything in between makes betting an OVER here a risky play.

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New Orleans Pelicans 2025-26 NBA Awards Odds

Name	MVP	Defensive	Rookie	Most Improved	Sixth Man	Finals MVP	Coach
Zion Williamson	+15000			+20000		+50000
Herb Jones		+20000		+7500
Jeremiah Fears			+6000
Derik Queen			+12500
Trey Murphy III				+4500
Jordan Hawkins				+25000	+25000
Jose Alvarado					+25000
Willie Green							+4000

Best Bet: Trey Murphy III for NBA Most Improved Player, +4500

Had it not been for the league's 65-game rule to be eligible for end-of-season hardware, Trey Murphy III likely would have received a ton of votes and possibly taken home 2025 Most Improved Player honors as one of the few shining lights during an otherwise abysmal season for New Orleans. He finished with 20 or more points in 30 of the 53 games he played, averaging career-best numbers across the board with 21.2 points, 5.1 rebounds, 3.5 assists, 1.1 steals, and 0.7 blocks in 35 minutes per contest. Murphy III improved his scoring by 6.4 points, as well, taking advantage of the man games lost and establishing himself as a dependable who could be leaned on at a moment's notice.

It goes without saying that the +4500 odds aren't encouraging, especially when 15 players have shorter odds as of writing. This remains one of the better value plays for any individual recognition of a Pelicans player, but it's still a bet that requires a great deal of caution knowing that Murphy III will have to continue building on his production and setting the bar for himself even higher. Is that even doable? Probably not if becoming the second player in franchise history (Ingram, 2020) to be named Most Improved Player is a short-term goal. Last season was probably his one true shot, but he's only 25 years old and should continue to evolve his game and keep producing at a high level in a situation where opportunities will be boundless.