NBA Championship Odds: Thunder Set As Massive Favorites; Knicks, Spurs Rising

Breaking down the latest odds to win the NBA Finals in the 2025-26 season.

The San Antonio Spurs and forward Victor Wembanyama have gone from +6500 to +2500 to win the NBA Finals. / Kirby Lee-Imagn Images

The 2025-26 NBA season is in full swing, and with the NBA Cup Championship set for Tuesday night, it’s a perfect time to update where each team stands in the latest odds to win the NBA Finals.

The Oklahoma City Thunder (24-2) are the clear favorite at this point in the season, as they’ve only lost two games (one of them coming in the NBA Cup semis) and have the best net rating in the NBA. The defending champions sit at +110 to win the title this season, which is good for an implied probability of 47.62 percent.

Now, there are some teams that oddsmakers believe can dethrone the Thunder, but none of them are that close in the odds outside of the Denver Nuggets (+650). Denver is coming off an overtime win over the Houston Rockets on Monday, the team’s second win over Kevin Durant and company this season.

Nikola Jokic and the Nuggets are the No. 2 seed in the West after winning five games in a row, and they’re off to a strong start even with starters like Aaron Gordon and Christian Braun injured. As long as Jokic is healthy, Denver is the biggest threat to OKC after it took the Thunder to seven games in the second round of the playoffs last season. 

After Denver, the Rockets (+1100), Los Angeles Lakers (+1300) and New York Knicks (+1300) make up the next group of contenders. New York is gaining some steam in the odds to win the title after making the NBA Cup Championship game, even though it is still 2.5 games back of the Detroit Pistons (+2000) in the Eastern Conference standings.

The Knicks are fourth in the league in net rating and second in offensive rating, and their core of Jalne Brunson, Karl-Anthony Towns, OG Anunoby, Mikal Bridges and Josh Hart forms one of the better five-man combinations in the NBA.

On Tuesday, the Knicks face the San Antonio Spurs (+2500) in the NBA Cup title game. San Antonio knocked off OKC on Saturday, and it’s moved up a ton in the odds to win the Finals since the beginning of the season. 

Victor Wembanyama and company opened the campaign at +6500 to win the title, but they’re already in the top eight to win the Finals this season. San Antonio went 9-3 without Wemby (calf) earlier this season, and it’s now fourth in the Western Conference – sitting just one game back of Denver. 

San Antonio has one of the best young cores in the league, and it could move even further in this market if it knocks off the Knicks on Tuesday. 

There are few more interesting teams in the odds, including the Boston Celtics (+4000) who seem to be in play for a playoff spot in the East with the potential of a Jayson Tatum return later on this season.

Still, oddsmakers have this market set as the Thunder’s to lose, as they look to become the first repeat champion since the Golden State Warriors in 2017 and 2018.

Here’s a look at every team’s odds to win the Finals as the league’s marquee day, Christmas, approaches.  

NBA Finals Odds for 2025-26 Season

Odds via DraftKings Sportsbook.

• Oklahoma City Thunder (+110)
• Denver Nuggets: +650
• Houston Rockets: +1100
• Los Angeles Lakers: +1300
• New York Knicks: +1300
• Detroit Pistons: +2000
• Cleveland Cavaliers: +2200
• San Antonio Spurs: +2500
• Minnesota Timberwolves: +3000
• Orlando Magic: +3500
• Golden State Warriors: +4000
• Boston Celtics: +4000
• Philadelphia 76ers: +6000
• Atlanta Hawks: +7000
• Miami Heat: +8000
• Dallas Mavericks: +12000
• Milwaukee Bucks: +15000
• Toronto Raptors: +15000
• Los Angeles Clippers: +20000
• Phoenix Suns: +70000
• Chicago Bulls: +100000
• Portland Trail Blazers: +100000
• Sacramento Kings: +200000
• Memphis Grizzlies: +200000
• Washington Wizards: +200000
• Charlotte Hornets: +200000
• Brooklyn Nets: +200000
• Utah Jazz: +200000
• Indiana Pacers: +200000
• New Orleans Pelicans: +200000

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Odds refresh periodically and are subject to change.

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