NBA Championship Odds & Predictions 2026-27: Will SGA, Thunder Bounce Back?

It's almost the most wonderful time of the year!

However, instead of Santa Claus and holiday cheer, it's Santi Aldama and the Holiday brothers cheering on their teams. (OK, I'm done with the Christmas theme.) The NBA season tips off Tuesday, so it's time to analyze the latest 2026-27 NBA championship odds.

The Spurs and Thunder are co-favorites at +280 odds. I'll break down which of those two is most likely to win, as well as a pair of futures worth placing at odds greater than +2000.

NBA championship odds 2026-27

See all of our experts' NBA picks based on the latest NBA odds.

(Note: Teams not listed have odds greater than +4000.)

NBA championship best bet

Thunder (+280 via Caesars)

I'm not ready to say that the Spurs are better than the Thunder, despite San Antonio beating Oklahoma City in the Western Conference Finals last season.

We (sports writers) have been very quick to crown young, exciting teams as up-and-coming dynasties. However, we've only seen one good season out of the Spurs, and Victor Wembanyama played only 64 regular-season games on limited minutes, so his durability will likely be a concern again this season. The Thunder, meanwhile, led the league in net rating in the 2025-26 and 2024-25 seasons and ranked second in 2023-24.

Oklahoma City to win outright (+280 via Caesars) is the best line available among the top NBA betting sites.

NBA championship value pick

Heat (+3000 via bet365)

I don't care how advanced your model is. I don't care how good you (or your Claude) are at coding. No one knows exactly what the Heat will look like next season.

A top-heavy roster featuring Giannis Antetokounmpo and Bam Adebayo could be the best team in the East, but it also could struggle to get home-court advantage in the conference. Shooting and floor-spacing could potentially be an issue, but I think we can all agree that if Erik Spoelstra can figure out the offense, this may be the most-qualified defense to guard Wembanyama.

Antetokounmpo and Adebayo have each been selected to five or more All-Defensive teams, and both have the length and athleticism to slow down the Spurs' star forward if they were to meet in the finals. The Heat to win outright (+3000 via bet365) is the best line available among the top sports betting sites.

NBA championship dark horse

Lakers (+4000 via Caesars)

Has everyone forgotten that Luka Doncic dragged a Mavericks team (that was +4500 to win outright at one point) to the NBA Finals? He has the fourth-shortest NBA MVP odds this season, and the team will likely benefit from LeBron James going to Philadelphia.

The Lakers played better in the regular season when Doncic and Reaves were on the court and James was on the bench, and they've likely solved their center/defensive woes by acquiring Walker Kessler. The last time Kessler played more than five games (2024-25), he led all qualified players with 2.4 blocks per game and averaged the fifth-most rebounds (12.2).

You're telling me that this team isn't better than the Mavericks squad that Doncic took to the finals? The Lakers to win outright (+4000 via Caesars) is the best line available among the top sports betting apps.

Live NBA championship odds

Follow all of our NBA analysis and expert predictions this season.

NBA championship opening odds

Odds via DraftKings, as of June 14.

NBA championship recent betting history

Preseason odds via Covers' Sports Odds History.