2025 NBA Championship Odds and Favorites: Thunder Lead Celtics as NBA Finals Betting Favorites
The Oklahoma City Thunder (+175) and defending-champion Boston Celtics (+200) are proving worthy of their long-held status as consensus betting favorites by the 2025 NBA championship odds.
The Thunder, the Western Conference's No. 1 seed, are off to a 2-0 first-round series lead over the Memphis Grizzlies. The Eastern Conference's second-seeded Celtics are up 1-0 over the Orlando Magic. Those leads have each team holding an implied win probability of 33.33% or better to win the Larry O'Brien Trophy, according to the latest NBA championship odds from our best sports betting sites.
The top-seeded Cleveland Cavaliers, upstart Golden State Warriors (who earned their playoff ticket via the NBA Play-In Tournament), and Los Angeles Lakers follow the Thunder and Celtics on the NBA championship oddsboard.
👉 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.
📊 NBA championship odds favorites 2025
🌩️ Thunder NBA championship odds: +175
The Thunder won the first two games against the Grizzlies by a combined 70 points. Memphis was much more competitive in Game 2, losing 118-99, after a 51-point blowout in the playoff opener after advancing from the play-in tournament.
Oklahoma City continues to be led by NBA MVP odds closing favorite Shai Gilgeous-Alexander. He's dropped 15 and 27 points through two games. OKC was 32-8 on the road in the regular season, so there's little reason to doubt the NBA championship favorites as this series relocated to Memphis. The Grizzlies shared the 10th-best home record in the regular season at 26-15.
Best odds: +175 via BetMGM | Implied probability: 36.36%
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🍀 Celtics NBA championship odds: +200
The Celtics won Game 1 against the Magic by a 103-86 count. Derrick White led the way with 30 points while Jayson Tatum had 17 points and 14 rebounds in the easy win. NBA Sixth Man of the Year odds winner Payton Pritchard contributed 19 points off the bench while hitting four of six 3-point attempts.
Boston was the Association's best road team through the regular season, finishing 33-8 away from home.
Best odds: +220 via BetMGM | Implied probability: 33.33%
👀 My NBA championship odds teams to watch
⚔️ Cavaliers NBA championship odds: +650
Oddsmakers, fans, and bettors continue to discount the top-seeded Cavs. Kenny Atkinson's team is up 1-0 on the Miami Heat following a 121-100 Game 1 home win.
Public popularity plays into the odds discrepancy here. Cleveland's best implied win probability of 13.33% pales in comparison to the 33.33% given to Boston. I'd expect the Cavs to also be underdogs in a potential Eastern Conference Final matchup with the Celtics, so bettors will continue to find plus-money odds to back a team that went 64-18 during the regular season.
Best odds: +650 via DraftKings | Implied probability: 13.33%
👑 Lakers NBA championship odds: +1800
The Western Conference's third-seeded Lakers stumbled out of the playoff gates and lost Game 1 against the Minnesota Timberwolves by a 117-95 score. They rebounded with a 94-85 win in Game 2. The 94 points allowed were their fewest surrendered since Jan. 21 against the lowly Washington Wizards.
Luka Doncic and LeBron James have combined for 56 and 52 points through two games. They'll need sustained help from Austin Reaves and Rui Hachimura while head coach JJ Redick seems committed to playing with a short bench.
Best odds: +1800 via bet365 | Implied probability: 5.26%
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🔮 Today's best NBA playoff picks
- Magic vs. Celtics prediction
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- Heat vs. Cavaliers prediction
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- Warriors vs. Rockets prediction
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📊 NBA Finals MVP odds 2025
NBA Finals MVP odds from our best sports betting sites.
- 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 has significantly longer odds than Tatum
- Jaylen Brown: Last year's winner of NBA Finals MVP, Brown will have a tough time repeating, given 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, Golden State 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 the fact that L.A. will avoid 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 +175. Those odds imply a probability of 36.36% that the Thunder will lift the Larry O'Brien.
Who won the NBA Finals last year?
The Boston Celtics won the 2024 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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