NBA Championship Odds & Favorites 2025: Celtics, Pacers Join Cavs, Thunder in Round 2
The second-round playoff picture in the NBA playoffs became much clearer after Tuesday's slate, with two Eastern Conference contenders advancing. Yet the Oklahoma City Thunder remain the consensus betting favorites by the NBA championship odds.
The Boston Celtics - who dispatched the Orlando Magic to advance - are OKC's most significant challenger, according to the odds at our best sports betting sites. They joined the Cleveland Cavaliers and Indiana Pacers in the second round after a dominant display at TD Garden in Boston on Tuesday night.
The Golden State Warriors and Minnesota Timberwolves can complete gentleman's sweeps of the Houston Rockets and Los Angeles Lakers tonight, respectively. The former is considered the "best of the rest" in terms of contenders while getting +1800 odds, the shortest besides the aforementioned trio of favorites.
Meanwhile, there's still all to play for later in the week between the Denver Nuggets and Los Angeles Clippers, as well as the New York Knicks and Detroit Pistons, ahead of pivotal Game 6 clashes.
👉 See our analysis of the NBA Finals MVP odds for more NBA playoffs insight.
🏆 NBA championship odds 2025
Live NBA championship odds from our best sports betting sites and update in real time.
📊 NBA championship odds favorites 2025
🌩️ Thunder NBA championship odds: +150
NBA MVP odds closing favorite Shai Gilgeous-Alexander continues to lead Oklahoma City. He helped the Thunder advance with a 38-point effort on Saturday.
The third and fourth games of the team's series against the Memphis Grizzlies were much closer than the opening two contests in Oklahoma City. Fortunately for the Thunder, they own home-court advantage throughout the Western Conference playoffs and can continue to handle business on their home floor.
Best odds: +160 via bet365 | Implied probability: 40%
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🍀 Celtics NBA championship odds: +200
The defending champions continue to take care of business. Although Orlando earned the better of Boston in Game 3, Jayson Tatum and Co. responded with a pair of statement wins. The Celtics advanced into the second round with an emphatic 120-89 victory in Game 5 on Tuesday night.
Best odds: +200 via BetMGM | Implied probability: 33.33%
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👀 My NBA championship odds teams to watch
⚔️ Cavaliers NBA championship odds: +500
The first-seeded Cavaliers enjoyed perhaps the most comfortable path to Round 2. They beat the Heat by scores of 121-100, 121-112, 124-87, and 138-83.
Yet they're still third on the NBA championship oddsboard, even without needing to face the defending champion Celtics until at least the Eastern Conference Finals. Their second-round matchup is against the Indiana Pacers, and Cleveland will get a one-day rest advantage.
Best odds: +500 via DraftKings | Implied probability: 16.67%
👑 Lakers NBA championship odds: +5500
The Lakers trail the Minnesota Timberwolves 3-1 while waiting for tonight's Game 5 in L.A. That extended rest should favor Los Angeles, as the team leans heavily on its top two stars of LeBron James and Luka Doncic.
The Lakers are 5.5-point betting favorites for Game 5. While the line may seem too large, the right squad is favored, and the Lakers' odds to win the NBA Finals will shorten should they win, as expected.
Best odds: +5500 via FanDuel | Implied probability: 1.79%
📊 NBA Finals MVP odds 2025
NBA Finals MVP odds from our best sports betting apps.
- Shai Gilgeous-Alexander: The Thunder own the best record in the NBA (68-14), and SGA leads the NBA MVP odds by a wide margin, which is why his NBA Finals MVP odds are so short already
- Jayson Tatum: Tatum led the Celtics to a title last year but didn't win NBA Finals MVP in the process, and this year it might be even harder with how strong the Thunder and Cleveland Cavaliers have been
- Donovan Mitchell: Despite leading the No. 1-seeded Cavaliers in the Eastern Conference, Mitchell is getting significantly longer odds than Tatum
- Jaylen Brown: Last year's winner of the NBA Finals MVP Award, Brown will face a tough time repeating due to a strong playoff field this year and his teammate being a top-two favorite
- Stephen Curry: Death, taxes, and Chef Curry in the playoffs. After Golden State clawed into the playoff bracket via the play-in tournament, the Warriors took an immediate 1-0 series lead over the second-seeded Houston Rockets; Curry led all scorers with 31 points
- Luka Doncic: The former Dallas Maverick might be the most interesting bet given how much the Los Angeles Lakers rely on him, and L.A. avoiding OKC until the Western Conference Finals
🔢 NBA championship opening odds
- Celtics: +310
- Nuggets: +750
- Mavericks: +950
- Thunder: +950
- Bucks: +1000
- Timberwolves: +1000
- Knicks: +1600
- 76ers: +1600
- Clippers: +2000
- Warriors: +2500
- Lakers: +2500
- Suns: +2500
- Heat: +3500
- Grizzlies: +4000
- Cavaliers: +5000
- Pacers: +5000
- Pelicans: +5000
- Magic: +5000
- Kings: +5000
- Hawks: +10000
- Rockets: +10000
- Spurs: +10000
- Bulls: +15000
- Raptors: +25000
- Jazz: +25000
- Nets: +50000
- Hornets: +50000
- Pistons: +50000
- Trail Blazers: +50000
- Wizards: +50000
📖 How to read NBA championship odds
Reading NBA championship odds is straightforward. Odds are usually presented in a format like +500 or -200. Positive odds (e.g., +500) show how much profit you’d make on a $100 bet.
For example, a $100 bet at +500 odds would win you $500, plus your original $100 stake, totaling $600. Negative odds (e.g., -200) indicate how much you need to bet to win $100. So, a $200 bet at -200 odds would win you $100, plus your $200 stake, totaling $300.
These odds also reflect the probability of a team winning the championship. Lower odds (e.g., +300) suggest a higher likelihood, while higher odds (e.g., +2000) indicate a lower probability.
Sportsbooks adjust these odds based on factors like team performance, injuries, trades, and betting patterns.
For example, if the Lakers have +500 odds and the Nets have +700 odds, the Lakers are considered more likely to win. If you bet $100 on the Lakers and they win, you’d get $600 back ($500 profit + $100 stake).
❓ NBA Championship FAQs
Who is favored to win the 2025 NBA championship?
The Oklahoma City Thunder are the favorites to win the 2025 NBA championship at +150. Those odds imply a probability of 40% that the Thunder will lift the Larry O'Brien Trophy.
Who won the NBA Finals last year?
The Boston Celtics won last year's NBA Finals, defeating the Dallas Mavericks in five games.
When will the 2025 NBA Finals be decided?
The last NBA Finals began on June 5. Expect the 2025 postseason to run on a similar schedule.
When's the last time an NBA team won back-to-back titles?
The last time an NBA team went back-to-back was when the Golden State Warriors won the championship in 2017 and 2018.
Who is the favorite to win the 2025 NBA Finals MVP?
Oklahoma City Thunder guard Shai Gilgeous-Alexander is the favorite to win NBA Finals MVP. His odds are +190, which imply a 34.48% win probability.
Who won the NBA Finals MVP last year?
Boston Celtics All-Star Jaylen Brown won NBA Finals MVP last year. Brown's shortest odds of -240 before Boston's series-clinching Game 5 win implied a 70.59% win probability.
💰 NBA betting odds pages
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