2026 NBA Finals Odds for Every Team: Thunder Set as Massive Favorite, Knicks, Cavs Lead East

Breaking down the NBA Finals odds for the 2025-26 season, including some storylines to watch in the offseason.

The Oklahoma City Thunder are favorites to win back-to-back titles. / Kyle Terada-Imagn Images

As one NBA season comes to a close, the betting markets for the next NBA season are just getting started.

Following the Oklahoma City Thunder’s win in Game 7 of the 2025 NBA Finals, oddsmakers have released the championship odds for next season, and it’s no surprise who is favored to win.

Shai Gilgeous-Alexander and the Thunder are clear favorites (+240) at DraftKings Sportsbook in the opening odds, while only three other teams – the Houston Rockets, Cleveland Cavaliers and New York Knicks – have shorter than 10/1 odds to capture the title.

OKC was dominant in the 2024-25 season, winning 68 games in the regular season while posting a historic net rating. It then went on an impressive run in the playoffs, culminating with a Game 7 victory to capture the first title in franchise history.

For the Pacers, Game 7 was about as devastating as they come. Not only did the Pacers lose the game, but star guard Tyrese Haliburton suffered an Achilles injury in the first quarter, putting his status for next season in serious doubt.

As a result, the Pacers have gone from +800 to +1800 to win the title next season, an afterthought in the betting market.

With a young core led by SGA, Jalen Williams and Chet Holmgren, the Thunder figure to be back in the mix next season, and oddsmakers are extremely high on their outlook. 

The Boston Celtics were favored to win back-to-back titles after the 2024 championship, but they did not make it out of the second round in the playoffs. In fact, no team has repeated as a champion since the Golden State Warriors in the 2016-17 and 2017-18 seasons.

Can OKC snap that streak?

Here’s a look at the opening odds for every NBA team to win it all next season, and a few things to watch heading into the offseason. 

2026 NBA Championship Odds 

Odds via DraftKings Sportsbook.

• Oklahoma City Thunder: +240
• New York Knicks: +750
• Houston Rockets: +750
• Cleveland Cavaliers: +900
• Minnesota Timberwolves: +1400
• Los Angeles Lakers: +1600
• Denver Nuggets: +1800
• Orlando Magic: +1800
• Indiana Pacers: +1800
• Boston Celtics: +1800
• Golden State Warriors: +2200
• San Antonio Spurs: +2200
• Los Angeles Clippers: +4000
• Philadelphia 76ers: +4000
• Dallas Mavericks: +4500
• Milwaukee Bucks: +4500
• Detroit Pistons: +5000
• Miami Heat: +7500
• Atlanta Hawks: +10000
• Memphis Grizzlies: +17000
• Toronto Raptors: +18000
• Sacramento Kings: +20000
• New Orleans Pelicans: +20000
• Brooklyn Nets: +30000
• Phoenix Suns: +40000
• Chicago Bulls: +50000
• Portland Trail Blazers: +50000
• Washington Wizards: +70000
• Charlotte Hornets: +70000
• Utah Jazz: +70000

Thunder Favored to Go Back-to-Back

There’s no doubt that the Thunder are in the best position in the NBA to go back-to-back in quite some time.

Not only is OKC an extremely young team that may have another gear it can reach, but the Thunder aren’t going to have to break up their team for financial reasons just yet. OKC still has Holmgren and Williams on rookie deals in the 2025-26 season.

Plus, the Thunder have a plethora of draft picks at their disposal that can help them improve around the edges of an already deep rotation. At +240, they have an implied probability of 29.41 percent to repeat next season.

Knicks, Cavs Lead Eastern Conference in Betting Market

The Eastern Conference is by far the weaker conference heading into next season, and it seems like it’ll be a two-team race between the Knicks (+750) and Cavs (+900).

The Pacers were +800 to win the title before Game 7, but Haliburton's Achilles injury has changed the outlook for Indy next season. Indy has dropped into a tie with the Orlando Magic and Boston Celtics for the third-best odds to win the East.

The Pacers knocked both the Knicks and Cavs out of the playoffs in the  2024-25 season, but it's hard to see the Pacers getting back to the Finals if Haliburton misses the entire campaign. With Boston also dealing with a major injury to Jayson Tatum, and Damian Lillard injured for the Milwaukee Bucks, the East appears to be wide open for the taking in the 2025-26 season.

Injuries Impact Celtics, Bucks, More in Finals Odds

Speaking of the Celtics and Bucks, they are in a tough spot when it comes to injuries in the 2025-26 season.

Lillard and Tatum both suffered Achilles injuries in the playoffs, and their statuses for next season are truly up in the air. Boston is just +1800 to win the title while the Bucks are all the way down at +4500. However, rumors that Giannis Antetokounmpo will stay put, and the Haliburton injury have improved the Bucks' title chances -- as they were +7500 before Game 7 of the Finals.

In the Western Conference, the Dallas Mavericks (+4500) are waiting on Kyrie Irving (torn ACL) in the 2025-26 season. If the veteran guard can get back late in the 2025-26 season, the Mavs may have a chance to make a playoff run. But, if he misses the whole season, they’ll likely find themselves on the outside of true contender status. 

How Trades Could Impact NBA Finals Odds

We’ve already seen two massive trades this offseason, as Desmond Bane was traded to the Orlando Magic for a plethora of draft capital. That move shifted the NBA Finals odds, as the Magic went from +5000 to +1800 while the Memphis Grizzlies fell all the way to +17000.

Then, on Sunday, the Houston Rockets traded for Kevin Durant, shooting them up to +750 to win the title next season. Houston now has the second-best odds to win it all, while the Phoenix Suns fell from +17000 to +40000 to win the title.

There are a few other players -- DeMar DeRozan, Jrue Holiday and possibly Giannis – that could really shape this offseason if they are moved. Plus, there's always an unexpected trade that could materialize and change the Finals market.

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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.

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