NBA Championship Odds for Every Team Ahead of 2024-25 Season (Power Ranking Each Team’s Chances)

Sports Illustrated's Peter Dewey previews the NBA championship odds market, tiering each team ahead of the 2024-25 season.

Boston Celtics guard Jaylen Brown (7) celebrates with the Larry O’Brien Trophy. / Peter Casey-Imagn Images

NBA fans, it’s that time of year again.

The 2024-25 NBA regular season is less than a month away, and after an intriguing offseason that saw a few contenders load up to dethrone the Boston Celtics, it’s finally time to take a deep dive into the NBA championship odds market. 

Boston is the clear and rightful favorite after last season’s championship run, sitting at +295 at DraftKings Sportsbook, well ahead of the second team in the odds – the Oklahoma City Thunder – who clock in at +700. 

Betting on a team to win the NBA Finals before the season usually is a great way to get value that you can hedge later on in the playoffs. Even though Boston is at a short number already, it will only see that number shrink if it pushes 70 wins once again in the 2024-25 season.

To help NBA bettors build out their portfolio when it comes to betting on the NBA champion, I’ve placed each team in the NBA into tiers this season to share how willing I’d be to bet on them.

Before the season starts, I’ll share all of my preseason futures bets in my Peter’s Points column right here on Sports Illustrated. For now, let's talk Finals bets.  

Odds to Win NBA Finals in 2024-25 Season

Odds via DraftKings Sportsbook.

• Boston Celtics: +310
• Oklahoma City Thunder: +700
• New York Knicks: +800
• Philadelphia 76ers: +900
• Denver Nuggets: +950
• Minnesota Timberwolves: +1000
• Dallas Mavericks: +1000
• Milwaukee Bucks: +1400
• Los Angeles Lakers: +3000
• Phoenix Suns: +3000
• Golden State Warriors: +3500
• Memphis Grizzlies: +4000
• Miami Heat: +4500
• New Orleans Pelicans: +5500
• Cleveland Cavaliers: +6000
• Indiana Pacers: +6000
• Orlando Magic: +6500
• Sacramento Kings: +7500
• Los Angeles Clippers: +8000
• San Antonio Spurs: +15000
• Houston Rockets: +15000
• Atlanta Hawks: +60000
• Washington Wizards: +100000
• Utah Jazz: +100000
• Toronto Raptors: +100000
• Portland Trail Blazers: +100000
• Detroit Pistons: +100000
• Chicago Bulls: +100000
• Charlotte Hornets: +100000
• Brooklyn Nets: +100000

Tier 1: NBA Finals Contenders

Boston Celtics

Boston is the easy choice to win the Finals since it is returning every core rotation member from last season’s title run. However, Kristaps Porzingis is set to miss the start of the season after undergoing surgery on his leg injury that he suffered during the NBA Finals. 

That may lead to Boston getting out to a slower start, but the team has been a fixture in the Eastern Conference Finals for several seasons. Even at +295, Boston is worth a wager. 

Oklahoma City Thunder

After earning the No. 1 seed with a super young core last season, the Thunder found two perfect fits in the offseason, trading for Alex Caruso and signing center Isaiah Hartenstein. 

The two holes for OKC last season that were exploited in the playoffs were Josh Giddey’s poor fit (inability to shoot the 3 and lack of defense) and the team’s need for more rebounding down low. Well, the Thunder seem to have fixed both of those problems, making them the favorite to win the West in the 2024-25 campaign. 

Denver Nuggets

Yes, the Nuggets lost Kentavious Caldwell-Pope this offseason, but they still have the best player in the NBA in Nikola Jokic. 

Denver needs youngsters like Peyton Watson, Christian Braun and Julian Strawther to step up, but if they do, one could make the argument that Denver still is the class of the West. 

New York Knicks

Well, the Nova Knicks didn’t last long.

New York didn’t let training camp start before orchestrating a blockbuster deal to acquire Karl-Anthony Towns for Julius Randle and Donte DiVincenzo and a first-round pick – among other pieces for salary matching purposes. 

The Knicks also traded for Mikal Bridges this offseason, an all-in move around superstar guard Jalen Brunson. New York kept OG Anunoby in free agency, and it’s important to note that the team was 26-6 when he played last season.

Injuries derailed the Knicks’ playoff run, but they finished with the No. 2 seed and 50 wins last season despite Randle not playing after Jan. 27. If the Towns addition is the right move, New York will contend for a title. 

If not, the Knicks have already pushed all of their chips in and have very little room for error going forward. 

Philadelphia 76ers

The biggest splash of the offseason was made by Philly, as it signed All-Star wing Paul George to a four-year max deal to pair him with Joel Embiid and Tyrese Maxey.

The Sixers finished with the No. 7 seed in the East last season since Embiid missed a ton of time with injuries, but they are now better suited to withstand an absence from him in the 2024-25 season. Ultimately, Embiid and George need to be healthy in the playoffs for the Sixers to truly compete for a title. 

Dallas Mavericks

The defending Western Conference champions round out this tier after adding Klay Thompson in a sign-and-trade this offseason. 

While Dallas should be in the mix for a top seed in the West as long as Luka Doncic is healthy, I am intrigued to see the fit defensively if the Mavs opt to start Doncic, Irving and Thompson together. 

Tier 2: Contenders, But Questions

Minnesota Timberwolves

Minnesota made the Western Conference Finals last season, but it lost a key role player in Kyle Anderson in the offseason. The Randle and DiVincenzo additions should make up for this, but Randle’s looming free agency is something to keep in mind. 

Cap-strapped with very little draft capital to move, the Wolves added rookie guard Rob Dillingham to help bolster their bench scoring as well. They’ll be in the mix in the West, but I’m not sure they have enough proven depth to guarantee that they finish with a high seed. 

Milwaukee Bucks

One of the best moves of the offseason was Milwaukee adding 3-and-D wing Gary Trent Jr. on a minimum deal, but there are concerns about this roster too.

Damian Lillard had one of his least efficient seasons in the 2023-24 campaign. Giannis Antetokounmpo has been injured for back-to-back playoff runs. Khris Middleton had surgeries on both of his ankles this offseason. Brook Lopez is a year older. 

This feels like a now or never year for the Bucks, who don’t have any picks to move to improve this roster. 

Phoenix Suns

Phoenix, like Milwaukee and Minnesota, doesn’t have many assets it can use to really improve this roster.

Still, I like the fact that the Suns added Tyus Jones, Mason Plumlee and Monte Morris on minimum deals this offseason. Can a rookie like Ryan Dunn step up and give them something on the wing? 

As long as Kevin Durant and Devin Booker are healthy, the Suns are going to win games. But when the playoffs come around, I’m not totally sold on the makeup of this roster – especially if Bradley Beal is going to be relied on heavily to produce on offense. 

Indiana Pacers

After making the Eastern Conference Finals last season, Indiana sneaks into the final spot in this group. 

The Pacers are essentially running it back from last season, but a healthier Tyrese Haliburton could help them make a leap in the Eastern Conference during the regular season. 

Tier 3: Playoff Contenders

Cleveland Cavaliers

Cleveland is running it back after making the second round of the playoffs last season. One thing to note: Jarrett Allen can be traded at the deadline after signing an extension this offseason. If this Cavs team needs a tweak (please have Evan Mobley play the 5), that could be the move. 

Los Angeles Lakers

I’m not going to count out a LeBron James-led team, but the Lakers are putting a lot of stock into Max Christie/Jarred Vanderbilt/Gabe Vincent/Dalton Knecht being the fix to a team that probably should be going all in around James and Anthony Davis. 

Miami Heat

Miami took a step back last season, but contract-year Jimmy Butler may be on a mission. The Heat also haven’t really gotten to see their ceiling since adding Terry Rozier since he and Tyler Herro were banged up in the second half of the 2023-24 season. 

Memphis Grizzlies

Memphis is looking to move right back up into the top of the West after a brutal injury year, but I don’t think it’s going to be easy. Sure, Ja Morant, Desmond Bane and Jaren Jackson Jr. is a solid trio, but the West is a lot tougher than it was two seasons ago when Memphis lost in the first round as the No. 2 seed. 

Golden State Warriors

I actually like what Golden State did this offseason, moving off of Klay Thompson to add proven role players in Buddy Hield, Kyle Anderson and De’Anthony Melton. Will Golden State be a favorite to win it all? No. 

But, with expanded roles for Jonathan Kuminga and Brandin Podziemski, they could be a better built team around Steph Curry in the 2024-25 season. 

New Orleans Pelicans

New Orleans doesn’t have a starting-caliber center right now, so we could see some Zion-at-the-5 lineups, which would be extremely fun. On paper, New Orleans should be a playoff team, but we’ll see how the Dejounte Murray fit works before calling the Pels contenders for a title. 

Orlando Magic

Paolo Banchero and the Magic made a leap into the playoffs last season, and they bolstered their elite defense with the addition of KCP. I still think Orlando is a move or two away from truly competing with the class of the East, but it should be a playoff team. 

Sacramento Kings

Sacramento added veteran wing DeMar DeRozan in a sign-and-trade, and it has won over 40 games in back-to-back seasons. I like the Kings’ core, but the defense – outside of Keon Ellis – in the starting lineup is certainly going to be a concern. 

Tier 4: Play-In Tournament Contenders

Los Angeles Clippers

The Clippers’ title chances hinge on James Harden returning to his old self and Kawhi Leonard staying healthy. Should we buy a lottery ticket while we’re at it? 

Houston Rockets

Houston nearly made the play-in tournament last season and it has a ton of young talent on the roster. If the Rockets get off to a strong start, don’t be shocked if they consider cashing in some of their draft-pick assets if a star becomes available at the deadline. 

San Antonio Spurs

I don’t want to put a ceiling on Victor Wembanyama, but it may be a little too early to consider the Spurs a playoff team. San Antonio made some savvy moves to add veterans like Chris Paul and Harrison Barnes, but there are still other holes on this roster than even Victor can’t make up for – yet. 

Atlanta Hawks

The Hawks have no incentive to tank since the Spurs own their pick, so I wouldn't’ be shocked if they once again find themselves in the mix for a play-in spot. 

Toronto Raptors

I like the makeup of this Toronto team with Scottie Barnes, Immanuel Quickley and RJ Barrett, but I am worried about the Raptors selling off rotation-caliber pieces like Bruce Brown to a contender at the deadline. 

Tier 5: Could Be Interesting?

Chicago Bulls

If you like Josh Giddey running the show alongside Coby White (coming off a career year) this could be a fun team to watch with zero expectations. How Nikola Vucevic and Zach LaVine fit into this mix is a whole different story. 

Charlotte Hornets

LaMelo Ball’s health will likely decide the outcome of Charlotte’s season, but Brandon Miller showed a lot of promise in his rookie season, which is something to be excited about under new head coach Charles Lee. 

Utah Jazz

Lauri Markkanen may be too good for the Jazz to completely tank, as they’ve basically given up in the second half of the season each of the last two campaigns. With some talented young players on this roster, I could see Utah attempting to get in the mix for a playoff spot if it starts strong. 

Tier 6: The Flagg Bearers

Cooper Flagg is widely expected to be the top pick in the 2025 NBA Draft, and these teams are likely more focused on their lottery position than landing in the playoffs,  hence the name “Flagg Bearers.”

Washington Wizards

Alexandre Sarr and Bub Carrington should get plenty of time to develop on this Wizards team that should probably trade Kyle Kuzma while his value is still high. 

Portland Trail Blazers

The Blazers have a ton of small guards and a ton of centers – although I did like their move to add Deni Avdija this offseason. Scoot Henderson needs to improve on a poor rookie season for the Blazers to start feeling better about their future. 

Detroit Pistons

Someone get Cade Cunningham some help. And no, Tobais Harris does not count as help, even though that’s what the Pistons spent most of their cap room on this offseason. 

Brooklyn Nets

The Nets may end up having a fire sale of veterans (Dennis Schroder, Dorian Finney-Smith, Cameron Johnson) at the deadline. At least Cam Thomas can take as many shots as he wants this season.

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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.