NBA Championship Odds & Favorites 2025-26: Thunder Remain Favorite; Nuggets Now Third
The Oklahoma City Thunder remain the 2026 NBA championship odds favorite a little over a month before the regular season begins.
They will look to defend their title, led by NBA MVP odds favorite Shai Gilgeous-Alexander, who also looks to win his second straight regular-season and Finals MVP trophies. The Cleveland Cavaliers rank second (+850) after finishing with the Eastern Conference's best record a year ago, while the Denver Nuggets are now third (+900) after retooling their roster around superstar Nikola Jokic.
The New York Knicks (+950) and Houston Rockets (+1000) round out the top five, while the Los Angeles Lakers (+1800) trail behind before their first full season with Luka Doncic.
I'm breaking down the NBA championship odds and offering my best option to target as part of our NBA picks.
📊 Live NBA championship odds 2025-26
Our 2026 NBA championship odds update in real time based on the latest NBA odds.
🏆 NBA championship odds favorite
⚡ Thunder (+280)
Oklahoma City just completed one of the most dominant seasons in recent memory, going nearly wire-to-wire as the NBA championship betting favorite and finishing it off with the Larry O'Brien Trophy after a hard-fought NBA Finals against the Indiana Pacers.
The salary cap may tear apart this team in time, but the Thunder returned nearly their entire championship-winning roster as they look to defend their title in 2025-26. That included new deals for the star trio of Shai Gilgeous-Alexander, Jalen Williams, and Chet Holmgren.
It's not hard to see why Oklahoma City is favored to raise the trophy once again, but the Thunder aren't worth a bet at these odds, especially considering Indiana nearly picked off the Thunder last year and might have finished the job if not for Tyrese Haliburton's injury in Game 7.
Their +280 odds at Caesars translate to a 26.32% implied probability. A successful $10 bet would net $28 in profit.
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👀 My NBA championship prediction & best bet
⛏️ Nuggets (+900)
Denver pushed Oklahoma City to the brink in the second round of last year's playoffs before being smashed on the road in Game 7. The fact that the Nuggets came that close to halting the Thunder's championship charge shows the quality foundation of the team despite its tumultuous season.
The Nuggets fired head coach Michael Malone and announced general manager Calvin Booth's contract would not be renewed just a week before the end of the regular season. Assistant coach David Adelman was elevated to head coach and has now had the interim label removed heading into this season after making the most of a messy situation.
Denver clearly recognized how its roster around Jokic needed to be improved to return to true title contention - and the franchise was bold in trying to achieve that. The Nuggets added quality outside shooters in Cameron Johnson and Tim Hardaway Jr., while also adding backup center Jonas Valanciunas and bringing back Bruce Brown (a key piece of their 2023 championship team).
The Nuggets are loading up for another NBA championship run, eyeing their second trophy in four years. I like their chances at +900 odds, which translate to an implied probability of 10%, according to our odds calculator. A $10 bet would net $90 in profit.
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🔢 NBA championship opening odds
Odds via DraftKings.
- Thunder: +230
- Rockets: +750
- Cavaliers: +850
- Knicks: +850
- Timberwolves: +1300
- Lakers: +1400
- Nuggets: +1500
- Celtics: +1900
- Warriors: +2000
- Magic: +2200
- Spurs: +2500
- 76ers: +3500
- Pacers: +3500
- Clippers: +4000
- Mavericks: +4000
- Bucks: +6000
- Pistons: +6000
- Heat: +17000
- Raptors: +18000
- Grizzlies: +20000
- Hawks: +20000
- Pelicans: +25000
- Kings: +30000
- Nets: +40000
- Suns: +50000
- Bulls: +70000
- Trail Blazers: +70000
- Wizards: +100000
- Hornets: +100000
- Jazz: +100000
❓ NBA Championship FAQs
Who is favored to win the 2026 NBA championship?
The Oklahoma City Thunder are the favorite to win the 2026 NBA championship at +280 odds. That implies a 26.32% probability they'll repeat.
Who won the NBA Finals last season?
The Oklahoma City Thunder won the NBA Finals last season by knocking off the Indiana Pacers in seven games.
When will the 2026 NBA Finals be decided?
The 2026 NBA Finals will start sometime in June of 2026.
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 won the NBA Finals MVP last season?
Shai Gilgeous-Alexander won the award last season for the Oklahoma City Thunder.
💰 NBA betting odds pages
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