Opening NBA MVP Odds for 2025-26 Season: Nikola Jokic Favored Over SGA, Giannis, Luka

Breaking down the opening NBA MVP odds for the 2025-26 season with Nikola Jokic set as the favorite.

Peter Dewey | Jun 23, 2025

Denver Nuggets center Nikola Jokic is +200 to win MVP next season. / Alonzo Adams-Imagn Images

Shai Gilgeous-Alexander completed a historic 2024-25 season, winning the scoring title, regular season MVP, and Finals MVP award for the Oklahoma City Thunder.

The Thunder completed their 68-win season with an impressive playoff run that culminated with a Game 7 win over the Indiana Pacers on Sunday night.

And, as one NBA season comes to an end, fans and bettors can already start looking ahead to the next one.

In addition to releasing the odds for every team to win the title next season, oddsmakers also released the opening odds for the league’s MVP award.

Injuries to players like Jayson Tatum, Tyrese Haliburton (who was injured in Game 7 on Sunday), and Damian Lillard have helped shape this market, but the two top players in the 2024-25 MVP race are right back at the top of the oddsboard once again.

Denver Nuggets center Nikola Jokic (+200) is set as the favorite in the opening odds, while SGA (+250) is second. From there, only two other players (Giannis Antetokounmpo and Luka Doncic) have shorter than 10/1 odds to win MVP.

Let’s take a look at the odds for this market and some players to monitor as the NBA heads into the offseason.

NBA MVP Odds for 2025-26 Season

Odds via DraftKings Sportsbook.

Nikola Jokic: +200
Shai Gilgeous-Alexander: +250
Giannis Antetokounmpo: +700
Luka Doncic: +800
Anthony Edwards: +1000
Victor Wembanyama: +1800
Cade Cunningham: +3000
Jalen Brunson: +3500
Joel Embiid: +7000
Kevin Durant: +8000
Donovan Mitchell: +8000
Jaylen Brown: +10000
Anthony Davis: +10000
Paolo Banchero: +10000
Ja Morant: +12000
LeBron James: +15000
Steph Curry: +15000
Devin Booker: +18000

Note: No other player has shorter than 250/1 odds to win MVP in the 2025-26 season.

Nikola Jokic Favored to Win Fourth MVP of His Career

Jokic has finished first or second in the odds to win the league’s MVP award in each of the last five seasons, so it’s not surprising to see him top this list.

However, the Nuggets center may be facing an uphill battle in a loaded Western Conference where Denver may not be one of the top teams. Since 1983, only Russell Westbrook (2016-17) and Jokic (2021-22) have won an MVP without being a top-three seed. They were both the No. 6 seed.

Still, Jokic is likely going to flirt with a triple-double once again in the 2025-26 season and has been extremely durable in his NBA career. Even at this price, he’s likely worth a bet to win MVP next season.

Players to Watch in Way-Too-Early 2025-26 NBA MVP Odds

Giannis Antetokounmpo (+700)

The Milwaukee Bucks are facing an uphill battle without Lillard for most – if not all – of the 2025-26 season, but that could set up an MVP case for Giannis.

Over the last seven seasons, Antetokounmpo has finished in the top five in NBA MVP voting, and he’s coming off an insane 2024-25 season where he averaged 30.4 points, 11.9 rebounds, and 6.5 assists per game.

If the Bucks somehow finish with a top-three seed in a weak Eastern Conference, it’s likely going to be due to a heroic effort from the two-time MVP.

Victor Wembanyama (+1800)

After dealing with a blood clot in the 2024-25 season, Victor Wembanyama is a little shaky when it comes to this market in the 2025-26 season.

However, he should always be in the mix for the Defensive Player of the Year award because of his amazing size and shot-blocking ability, and that automatically should raise his ceiling when it comes to winning the league’s MVP.

Since the Spurs passed on making a Kevin Durant deal, Wemby should be the No. 1 option in this offense and could get into the MVP conversation if the Spurs overachieve in the 2025-26 season.

Paolo Banchero (+10000)

This one is way down the oddsboard, but watch out for Paolo Banchero in the 2025-26 season.

The Orlando Magic made a big move for Desmond Bane this offseason, and they’ve gone from +5000 to +2200 to win the title. Orlando should be in the mix for a top-four seed in the East, and Banchero is clearly the best player on this team.

In limited time (due to injury) last season, the former No. 1 overall pick averaged 25.9 points, 7.5 rebounds, and 4.8 assists per game while shooting 45.2 percent from the field.