2025-26 NBA Finals Odds: Free Agency Shakes Things Up

NBA Futures Odds

NBA championship odds are up for the 2025-26 season. The Oklahoma City Thunder, who just claimed their first title, are favored to repeat as champs.

Interestingly, there's been some early shuffling beyond OKC, thanks in large part to trades and big moves since free agency began June 30.

Check back regularly for updates and use our BetMGM bonus code to get the most out of your action on 2026 NBA Finals odds.

(Feature image credit: Alonzo Adams/Imagn Images)

Nba Champion Odds

Time	BetMGM	ESPNBet	BallyBet	RiversCasino
	›	›	›	›
Thunder	+275	+250	+200
Nuggets	+750	+750	+800
Rockets	+750	+800	+800
Cavaliers	+750	+750	+800
Knicks	+750	+750	+900
Magic	+1600	+1600	+1400
Clippers	+2000	+1600	+1600
Timberwolves	+1600	+1600	+1800
Lakers	+1800	+1600	+1800
Spurs	+6600	+5000	+2900
Warriors	+2800	+2500	+2900
Hawks	+2500	+2500	+2900
Celtics	+5000	+4000	+2900
Mavericks	+3000	+3000	+4000
76ers	+3500	+3300	+4000
Pistons	+5000	+4000	+4000
Bucks	+5000	+5000	+4000
Pacers	+8000	+6600	+7500
Grizzlies	+12500	+10000	+10000
Heat	+15000	+12500	+14000
Raptors	+20000	+15000	+14000
Pelicans	+50000	+30000	+25000
Bulls	+50000	+40000	+47500
Wizards	+100000	+100000	+47500
Suns	+50000	+40000	+47500
Trail Blazers	+75000	+50000	+47500
Kings	+50000	+50000	+47500
Hornets	+100000	+100000	+47500
Nets	+100000	+100000	+47500
Jazz	+100000	+100000	+47500

2026 NBA Finals Odds

Wheeling and Dealing

UPDATE SUNDAY, JULY 6: A seven-team trade was made official today, as the free-agency signing moratorium ended. It confirmed a few moves that were already widely known. Most notable, Kevin Durant is now a member of the Houston Rockets.

The deal also included the Phoenix Suns (Durant's former team), Atlanta Hawks, Brooklyn Nets, Golden State Warriors, Los Angeles Lakers and Minnesota Timberwolves.

Since all the involved players and draft picks were ostensibly known prior to today, there was little further shuffling of NBA Finals odds. See below updates for those details.

UPDATE WEDNESDAY, JULY 2: The Oklahoma City Thunder remain solid favorites to repeat as champions. But their price stretched out a touch as free agency began, shifting from +240 to +275 in BetMGM's NBA Finals futures odds.

Meanwhile, the Denver Nuggets are the biggest positive movers among legit contenders, thanks to their early transactions:

Trading Michael Porter Jr. to Brooklyn, to get Cam Johnson
Signing Bruce Brown, who played for Toronto last season but was a key cog in Denver's 2022-23 championship run
Signing Tim Hardaway Jr., who played for Detroit last season
Trading Dario Saric to Sacramento, to get Jonas Valanciunas

Those moves impressed oddsmakers, with the Nuggets going from +1600 to the +600 second choice. But the Nuggets then dipped a notch to +700 after the Los Angeles Lakers signed DeAndre Ayton. More on that below.

"We love what the Nuggets did. Every move they've made has been smart," BetMGM trader Hal Egeland said. "Cam Johnson is pretty comparable to MPJ, and it afforded the Nuggets the ability to bring back Bruce Brown, whom we know works great with Nikola Jokic.

"And they acquired a legitimate backup center in Valanciunas. Other than the Rockets, the Nuggets are having the best offseason, and both teams are legitimate contenders for the title."

Indeed, Houston has been another notable mover. The Rockets opened +1300 and got as short as the +750 second choice after acquiring Kevin Durant in a trade with the Phoenix Suns.

But Denver's moves allowed the Nuggets to overtake the Rockets. Houston is now the +850 fifth choice in NBA Finals odds, slipping behind the New York Knicks and Cleveland Cavaliers, who are both +800.

"The Nuggets are our most-bet team since free agency started," Egeland said.

Other Movers and Shakers

UPDATE SATURDAY, JULY 5: With the Nuggets' speedy climb up the NBA championship odds board, and the Ayton-to-the-Lakers news, prices adjusted accordingly on several teams. That includes:

Cleveland Cavaliers from +825 to +850 to +800
New York Knicks from +950 to +900 to +800
Orlando Magic from +1500 to +1200 to +1300
Minnesota Timberwolves from +1400 to +1800

The Los Angeles Lakers opened +1400, dipped to 1600, then returned to +1400 after acquiring Ayton. But the Lakers have since gone back to the +1600 seventh choice.

The Atlanta Hawks are making a lot of noise in a positive direction. Atlanta landed shooting guard Nickeil Alexander-Walker in a sign-and-trade with Minnesota. The Hawks also made a deal with Boston to acquire center Kristaps Porzingis.

After opening as distant +25000 long shots in odds to win the NBA Finals, the Hawks have sped to the +2500 10th choice.

"We like what the Hawks have done, as well," Egeland said. "They have an identity, with how they've built around Trae Young. Alexander-Walker is a quality pick-up, and we all know how valuable Porzingis can be when healthy.

"They also grabbed a phenomenal asset in that draft-day trade with the Pelicans. That could open up trade possibilities in the future, should they choose to pursue those. The Hawks are certainly a dark-horse candidate for at least a spot in the Finals."

The draft-day deal saw Atlanta send Derik Queen, the No. 13 overall pick in the NBA Draft, to New Orleans in exchange for the rights to 23rd overall pick Asa Newell. Atlanta also got a 2026 first-round pick in the deal.

"Admittedly, we were likely too long on the Hawks at +25000, before the moves," Egeland said.

Tickets/Money, Needs/Liabilities

UPDATE WEDNESDAY, JULY 2: When factoring in both digital betting (online/mobile) and retail action, the Nuggets are now No. 1 in ticket count in BetMGM's NBA Finals odds. Denver is followed by the Dallas Mavericks and Lakers.

In money, it's surprsingly the Mavs No. 1, then the Nuggets and a virtual tie between the Lakers and Thunder.

Egeland said realistic teams that BetMGM is rooting for are the Knicks, Magic and Cavaliers. Teams that BetMGM hopes to dodge in NBA Finals futures odds include the Mavs and, no surprise, the Lakers and Warriors, who always create liability.

Golden State is +3000 and Dallas +4000 to win the title.

Reigning Eastern Conference champ Indiana opened +1300. But that was before Tyrese Haliburton tore an Achilles in the Game 7 NBA Finals loss to Oklahoma City.

After that injury, BetMGM shoved the Pacers out to +4000, and the Pacers are now +8000.

Similarly, the Boston Celtics' fortunes have slid a great deal, in large part due to Jayson Tatum's torn Achilles during the postseason. Like Haliburton, Tatum could miss all of next season.

Boston opened +1800 at BetMGM and is out to +4000 in NBA Finals futures odds.

Opening Odds to win 2025-26 NBA Finals

The Oklahoma City Thunder are the defending champions and opened as the +240 betting choice to repeat as champions. Below are BetMGM's opening odds to win the 2026 NBA Finals.

Oklahoma City Thunder +240
New York Knicks +900
Cleveland Cavaliers +1000
Indiana Pacers +1300
Houston Rockets +1300
Orlando Magic +1400
Minnesota Timberwolves +1400
Los Angeles Lakers +1500
Denver Nuggets +1600
Boston Celtics +1800
San Antonio Spurs +1800
Golden State Warriors +2500
Philadelphia 76ers +3500
Dallas Mavericks +3500
Los Angeles Clippers +3500
Detroit Pistons +5000
Milwaukee Bucks +8000
Miami Heat +10000
Memphis Grizzlies +15000
Toronto Raptors +20000
Atlanta Hawks +25000
New Orleans Pelicans +25000
Phoenix Suns +30000
Sacramento Kings +30000
Brooklyn Nets +50000
Chicago Bulls +50000
Portland Trail Blazers +50000
Charlotte Hornets +100000
Washington Wizards +100000
Utah Jazz +100000

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How To Bet On NBA Futures

Betting on the NBA is widely popular in the United States and the NBA Futures Odds market continues to cater to both novice and professional bettors. The NBA championship is decided very June with a best-of-seven matchup known as the NBA Finals.

This Future Odds market is open year-round and the oddsmakers will adjust their numbers when trades, injuries, free agent signings, or other changes affect the NBA championship odds. The opening odds come out at the end of the current season or just after it ends, with NBA Future Odds posted on all 30 teams in the league.

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Betting on NBA Futures may not always provide big payouts due to the nature of the league, where dynasties are often created by player movement in free agency. However, betting on the right team early can provide better results, as seen in 2019 when the Toronto Raptors won with +1850 odds to win the NBA championship in August 2018. Compare that to the +750 odds the Raptors had in December 2018 and you can see how the NBA Futures odds could offer less value as the season progresses and the player talent is on display.

The NBA championship futures betting market takes in the most volume of wagers and money at sportsbooks. But there are other wagering opportunities in the NBA Futures market, including conference and division winners.

Sportsbooks also offer up NBA futures odds on specific player awards, usually just for Most Valuable Player and Rookie of the Year. These wagers are a little tricky since those bets and their results are based off subjectivity. Both awards are determined by votes from sports writers and we all know that everybody has an opinion.

Where Can I Bet On The 2025 NBA Championship?

There are several legal sportsbook options in the United States. One sportsbook that we are particularly excited about is Fanatics Sportsbook. Be sure to check out our review and take a look at their NBA betting options!

What Types Of Bets Can I Make ON The NBA?

In addition to betting on how teams will finish in the NBA playoffs, there are multiple angles you can bet on individual games. Check out our NBA Las Vegas odds page for the standard betting odds on each game.

Where Can I Learn How To Bet On Basketball?

To learn more about betting on basketball, check out our basketball betting tutorial.

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Patrick Everson

Patrick Everson is a senior reporter for VegasInsider. Based in Las Vegas since 1994, he's worked in the sports betting journalism/content space for more than a decade. He's most known for his deep roster of contacts behind sportsbook counters, providing readers and viewers with the ins-and-outs of how events are being bet. He's also a thought leader in the sports betting space, often appearing on or moderating panels at national conferences. More from Patrick Everson