NBA Championship Odds & Favorites 2025: 3 Teams Can Join Thunder, Cavs in Round 2 Tonight
The NBA Playoffs second-round playoff picture can become much more clear tonight - at least in the Eastern Conference - but the Oklahoma City Thunder are sure to remain the consensus betting favorites by the NBA championship odds.
The Cleveland Cavaliers booked their ticket to the second round with Monday's 138-83 humiliation of the Miami Heat to complete a first-round sweep. However, they remain behind the Boston Celtics by the latest odds to win the NBA Finals. The Celtics, New York Knicks, and Indiana Pacers can all complete first-round series victories - all on their own home court - with Game 5 wins tonight.
The Los Angeles Clippers and Denver Nuggets play Game 5 of their first-round tonight with the series tied 2-2.
👉 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
Oklahoma City continues to be led by NBA MVP odds closing favorite Shai Gilgeous-Alexander. He helped the Thunder advance with a 38-point effort on Saturday.
The third and fouth games of this series in Memphis were much closer than the opening two games 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
Boston suffered a narrow defeat to the Orlando Magic in Game 3 but bounced back with a 107-98 road win in Game 4, with Jayson Tatum scoring 37 points to go with 14 rebounds. Game 5 tips off at 7 p.m. ET tonight. Boston is an 11.5-point betting favorite hoping to advance to the second round.
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. The 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 should be against the Indiana Pacers, and Cleveland will have at least a one-day rest advantage.
Best odds: +500 via bet365 | Implied probability: 16.67%
👑 Lakers NBA championship odds: +4000
The Lakers trail the Minnesota Timberwolves 3-1 while waiting for Wednesday's Game 5 in L.A. That extended rest should favor Los Angeles, as it 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 big, the right team is favored, and the Lakers odds to win the NBA Finals will shorten should they win, as expected.
Best odds: +4000 via BetMGM | Implied probability: 2.44%
📊 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 +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
🏀 Best NBA betting sites
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