The final eight teams have been set in stone for the conference semifinals in the NBA playoffs, although the Oklahoma City Thunder, reigning champion Boston Celtics, and Cleveland Cavaliers continue to be the only ones with better than 20-to-1 betting odds in the race for the Larry O'Brien trophy.
Here's an updated look at where all remaining teams sit on the odds leaderboard to be crowned 2025 champions.
2025 NBA Finals odds
| Teams | Odds |
|---|---|
| Oklahoma City Thunder | +115 |
| Boston Celtics | +370 |
| Minnesota Timberwolves | +950 |
| Cleveland Cavaliers | +1000 |
| New York Knicks | +1100 |
| Indiana Pacers | +1300 |
| Denver Nuggets | +2000 |
| Golden State Warriors | +3500 |
Odds as of May 9th, 2025 04:50am EDT. |
2025 NBA Finals favorite: Oklahoma City Thunder
Oklahoma City swept the Memphis Grizzlies in the opening round, and will begin its best-of-seven series with the 2023 champion Denver Nuggets on Monday night at the Paycom Center. It was one of just two teams (Cleveland) to successfully sweep its way to the semifinals, but with over a week off between series, it remains to be seen whether or not rust will factor in to how it performs early against Denver.
2025 NBA Finals Darkhorse: Minnesota Timberwolves
Playing big names like LeBron James, Luka Doncic, Kevin Durant, Nikola Jokic, Devin Booker, and Jamal Murray seems to bring out the best in the Minnesota Timberwolves, who've bounced all of those names from the postseason dating back to their 2024 run to the Western Conference finals. They'll now get the chance to make history in the second round versus the Golden State Warriors by becoming the first team to ever knock off both James and Stephen Curry in the same playoff run.
2025 NBA Finalists Odds
| Finalists | Odds |
|---|---|
| Boston Celtics vs. Oklahoma City Thunder | +135 |
| Cleveland Cavaliers vs. Oklahoma City Thunder | +350 |
| Boston Celtics vs. Minnesota Timberwolves | +750 |
| Cleveland Cavaliers vs. Minnesota Timberwolves | +1400 |
| Indiana Pacers vs. Oklahoma City Thunder | +1400 |
| Boston Celtics vs. Golden State Warriors | +1400 |
| Boston Celtics vs. Denver Nuggets | +1900 |
| New York Knicks vs. Oklahoma City Thunder | +2200 |
| Cleveland Cavaliers vs. Golden State Warriors | +2700 |
| Cleveland Cavaliers vs. Denver Nuggets | +3300 |
Odds as of May 5, 2025 at FanDuel
2025 Exact NBA Finals Result Odds
| Finals Result | Odds |
|---|---|
| Oklahoma City Thunder over Boston Celtics | +330 |
| Boston Celtics over Oklahoma City Thunder | +410 |
| Oklahoma City Thunder over Cleveland Cavaliers | +550 |
| Boston Celtics over Minnesota Timberwolves | +1000 |
| Cleveland Cavaliers over Oklahoma City Thunder | +1100 |
| Oklahoma City Thunder over Indiana Pacers | +1700 |
| Boston Celtics over Golden State Warriors | +1900 |
| Cleveland Cavaliers over Minnesota Timberwolves | +2200 |
| Boston Celtics over Denver Nuggets | +2500 |
| Minnesota Timberwolves over Boston Celtics | +2700 |
Odds as of May 5, 2025 at FanDuel
NBA Championship Betting Strategy
Much of what formulates odds for NBA title contenders obviously stems from regular-season success. However, once the postseason comes and goes, how far a team advances can greatly impact the championship odds heading into next year before free agency and the draft gets underway.
What Impacts NBA Championship Odds?
- Winning and losing streaks
- Injuries to key players
- Seeding in the standings
- Win-loss records against specific opponents
- Postseason success
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:
- Which team will win the NBA Championship?
- Which player will win the Most Valuable Player award?
- Will Team X qualify for the NBA playoffs?
Last 10 NBA Championship Winners
| Year | Winning Team | Preseason Odds To Win Title | Opponent In Finals | Series |
|---|---|---|---|---|
| 2024 | Boston Celtics | +350 | Dallas Mavericks | 4-1 |
| 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 |
The Celtics' win in 2024 marked the sixth-different champion in as many years, a feat which hadn't been accomplished by the league since 1975-80.
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
| Team | NBA Titles | NBA Finals Appearances | Most Recent NBA Title |
|---|---|---|---|
| Boston Celtics | 18 | 23 | 2024 |
| Los Angeles Lakers | 17 | 32 | 2020 |
| 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 |
Boston's 2024 win moved it past the Los Angeles Lakers for the most championship wins by a single franchise in league history.
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
| 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. 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 six NBA Finals have been decided in six games.
- In the last 21 years, the Western Conference is 12-9 in NBA Finals.
- Also over the past 21 years, the No. 1 seed has won the championship 13 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 2010, the top team in the regular season has won the championship five times.
