NBA Championship Odds: Cavs Disrespected Despite Win Over Thunder?

The Cleveland Cavaliers may be undervalued in the latest odds to win the NBA Finals.

The Cleveland Cavaliers may be undervalued in the latest odds to win the NBA Finals. / John Hefti-Imagn Images

On Wednesday night, the two No. 1 seeds in the NBA went head-to-head in Cleveland, and Darius Garland, Donovan Mitchell, and the Cleveland Cavaliers came out on top with a seven-point win against the Oklahoma City Thunder.

The win snapped OKC’s 15-game winning streak, and it extended the Cavs’ winning streak to 11 games in the process. Cleveland is now off to a 32-4 start – on pace for 70-plus wins – and has a 5.5-game lead on the defending champion Boston Celtics for the top spot in the East.

Despite that, and the fact that the Cavs knocked off a title contender on Wednesday, they’re set at +1000 to win the NBA Finals – the fourth-best odds in the league.

Now, that’s a major jump from before the 2024-25 season began, but with Cleveland looking at a pretty solid path to the best record in the East – and maybe the NBA – it is surprising that both Boston (+275) and New York (+950) are ahead of the Cavs in the odds. 

Here’s a full look at the NBA championship odds as we near the halfway point in the 2024-25 season. 

Latest Odds to Win the NBA Finals in 2024-25 Season

Odds via DraftKings Sportsbook.

• Boston Celtics: +245
• Oklahoma City Thunder: +270
• New York Knicks: +950
• Cleveland Cavaliers: +1000
• Denver Nuggets: +1300
• Dallas Mavericks: +1400
• Memphis Grizzlies: +2500
• Milwaukee Bucks: +2800
• Golden State Warriors: +2800
• Minnesota Timberwolves: +3500
• Los Angeles Lakers: +3500
• Los Angeles Clippers: +3500
• Phoenix Suns: +4500
• Philadelphia 76ers: +4500
• Orlando Magic: +6500
• Houston Rockets: +6500
• Miami Heat: +9000
• Indiana Pacers: +13000
• Sacramento Kings: +15000
• Atlanta Hawks: +30000
• San Antonio Spurs: +60000
• New Orleans Pelicans: +100000
• Washington Wizards: +100000
• Utah Jazz: +100000
• Toronto Raptors: +100000
• Detroit Pistons: +100000
• Portland Trail Blazers: +100000
• Chicago Bulls: +100000
• Charlotte Hornets: +100000
• Brooklyn Nets: +100000

Cleveland Cavaliers Disrespected in Latest NBA Championship Odds

Yes, the Cavs have pretty great odds to win the title. However, they are still being undervalued at this current price given the potential path that they could have in the playoffs as the No. 1 seed. 

The East is very top-heavy heavy with Cleveland, Boston, and New York clearly looking like the top teams. Orlando has an elite defense and could be frisky once Paolo Banchero and Franz Wagner are both healthy, but those injuries have pushed it to 11 games back of the Cavs in the standings.

The young Magic and the veteran Milwaukee Bucks currently look primed for a No. 4 vs. No. 5 matchup in the East, but both teams have their flaws. Orlando is a weak offense even when healthy, ranking in the bottom 10 in the NBA in offensive rating.

Milwaukee, on the other hand, is extremely reliant on Giannis Antetokounmpo and Damian Lillard. Even though it won the NBA Cup, the Bucks are still just +2800 to win the Finals. 

So, that brings me back to Cleveland. With the East looking shaky overall, Cleveland could avoid a matchup with both New York and Boston until the Eastern Conference Finals (if those teams remain as the No. 2 and No. 3 seeds). That alone should improve the Cavs’ odds, as one of Boston or New York can’t make the ECF in that scenario. 

Plus, Cleveland is on a historic pace. It has an insane +11.3 net rating this season, and it could make a serious push for the best record in NBA history, currently held by the 2015-16 Golden State Warriors (they went 73-9).

Cleveland has the No. 1 offense in the NBA, and it’s spent most of the season without one of its usual starters – sharpshooter Max Strus – as he missed the start of the campaign with an ankle injury. Strus was huge in Wednesday’s win over OKC, knocking down 5-of-6 shots from beyond the arc, and finishing with 17 points.

Continuity has been the key for the Cavs, they extended Mitchell, Jarrett Allen, and Evan Mobley’s deals in the offseason. New head coach Kenny Atkinson has transformed this offense, and even with the concerns about the Cavs’ wing depth, they have knocked off New York, Boston, and OKC in matchups this season. 

The Cavs may turn into a pumpkin when the playoffs roll around, but the 32-4 start to the regular season is no fluke. If Cleveland holds on to the No. 1 seed in the East, it should have much better odds to win the title. 

Thunder Remain Massive Favorite to Advance Out of Western Conference

Even with Wednesday’s loss, OKC has a six-game lead on the No. 1 seed in the Western Conference and is the clear favorite to reach the NBA Finals this season.

OKC sits at +275 in the latest odds while the next closest Western Conference teams (Denver at +1300 and Dallas at +1400) have clear flaws at this point in the season.

Denver has struggled in the non-Nikola Jokic minutes (per usual) and its depth has been suspect early on in the season. Not only that, but Denver is just 19th in defensive rating, which may not be good enough to get through the gauntlet that is the Western Conference.

Dallas, on the other hand, is currently without both Luka Doncic and Kyrie Irving, putting it in a precarious position when it comes to the Western Conference standings. Dallas snapped a five-game skid on Tuesday, but it has already fallen to the No. 5 seed in the West since Doncic went down on Christmas.

Young teams like Memphis and Houston currently hold the No. 2 (Houston) and No. 3 (Memphis) seeds in the West, but oddsmakers aren’t sold on them winning it all based on their latest odds.

OKC outranks the Cavs in net rating this season (+11.6) and has the best defensive rating in the NBA by nearly three points per 100 possessions. Not only that, but the Thunder have done most of this without star Chet Holmgren, who has appeared in just 10 games in the 2024-25 campaign due to a hip fracture. He and offseason signing Isaiah Hartenstein have yet to play in a game together this season. 

There’s not a whole lot of value in betting the Thunder at this level, but pound-for-pound they are the best team in the West and the loss to Cleveland on Wednesday doesn’t change that.

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Odds refresh periodically and are subject to change.

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Find Peter Dewey's NBA betting record here (futures included). You can also follow my daily plays on  BetStamp here.