Will Chet Holmgren and the OKC Thunder repeat as champions? Betting odds for 2025-26 NBA season

As the Oklahoma City Thunder hoisted the Larry O'Brien trophy for the first time in franchise history Sunday night, the rest of the NBA world started to wonder the same thing.

How many championships are these guys going to win together?

It's a topic that feels more suitable for pundits and so-called analysts to debate the morning after a title game, but the idea that the Thunder could be the league's next dynasty isn't necessarily a knee-jerk reaction to one outcome. This defensive juggernaut OKC general manager Sam Presti has assembled through trade, draft picks and free agency has been in the making for years now, starting with the acquisition of reigning regular season and Finals MVP, Shai Gilgeous-Alexander, and continuing through the turn of the decade with Chet Holmgren and Jalen Williams selected in the first round of the 2022 draft.

"As cool as this is, tomorrow we got to wake up and start getting ready for training camp next year," Holmgren cracked with a smile when asked about OKC's future. "It's gonna be a great night in OKC. I'm gonna be back to work in a few days when I get my stuff together and get back home, but I'm not thinking about any of that right now."

Holmgren wouldn't speculate about next season, though sportsbooks around the country have already done so amid the Thunder's championship celebration. And based on the early betting odds for 2025-26 campaign, OKC could find itself planning another parade for this time next year.

ESPN Bet has the Thunder as the favorites to win the 2026 NBA title at +220 odds heading into the offseason, followed by the Cleveland Cavaliers (+700) and New York Knicks (+750). Andrew Nembhard's Indiana Pacers aren't far down the list at +1400 (14-1) odds, tied for the fifth-best odds behind the Kevin Durant-led Houston Rockets at +850.

Three other teams with a Gonzaga player on its roster have 18-1 odds or better of winning their first championship next season, including Rui Hachimura's Los Angeles Lakers (14-1), Julian Strawther's Denver Nuggets (18-1) and Jalen Suggs' Orlando Magic (18-1). Domantas Sabonis' Sacramento Kings are at 22-1 odds.

While OKC will look to tighten its grip the Western Conference, the East is likely going to be wide open for the taking. Anton Watson's Knicks could make another deep postseason run if they keep the corp together and don't sustain any significant injuries along the way. The same could be said for Suggs and the Magic after their 2024-25 campaign was derailed by injuries to Paolo Banchero and Franz Wagner. Nembhard and the Pacers will linger in the playoff hunt as well, but without Tyrese Haliburton available, it's hard to say what the Pacers' future looks like at the moment.

Nembhard's younger brother, Ryan Nembhard, could have a chance to compete for a title right away if the Cavs or Rockets decide to select him in the second round of the 2025 draft. Both teams have been linked to Ryan throughout his pre-draft process. ESPN's draft gurus, Jonathan Givony and Jeremy Woo, have Ryan slated to go No. 58 overall to Cleveland in its most recent mock draft.

Odds courtesy of ESPN Bet. Game odds refresh periodically and are subject to change. If you or someone you know has a gambling problem and wants help, call 1-800-GAMBLER.

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