Oddsmakers haven’t wavered all season in having both the Boston Celtics and Oklahoma City Thunder as the betting favorites to capture the 2025 NBA championship, although five other teams currently have greater than 20-to-1 odds as of March 1.
Here’s a look at where Boston, Oklahoma City, and all other contenders currently sit in the hunt for the Larry O’Brien trophy.
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2025 NBA Championship odds
2025 NBA Championship Contenders: Boston Celtics and Oklahoma City Thunder
Both Boston and Oklahoma City have established themselves as the teams to beat in both conferences, and that’s with all due respect to the Cleveland Cavaliers who own a better win-loss record than the Celtics and just defeated them at TD Garden on Feb. 28. The basketball world awaits what Cleveland is capable of in the playoffs, so for now, Boston gets the edge having won last year’s title with just three losses along the way.
The Thunder are 9.5 games ahead of the field in the West, as well, and are 6-1 with Chet Holmgren back in the starting lineup following a serious hip injury. They’re allowing 3.6 fewer points per 100 possessions than any other team across the Association with a defensive rating of 105.4, which would be the best mark since 2020-21.
2025 NBA Championship Darkhorse: Golden State Warriors (+1800)
As a TNT analyst over All-Star Weekend, Draymond Green proclaimed to the basketball world that the Golden State Warriors were going to become champions once again, especially after acquiring Jimmy Butler ahead of the trade deadline. Now at 18-to-1 odds, Green’s projection doesn’t seem nearly as asinine, as Golden State has gone 7-1 with Butler aboard.
While still in a play-in spot due to a tiebreaker, the Warriors have an identical win-loss record to that of the No. 6-seeded Los Angeles Clippers, and will now be favored to avoid the bracket altogether and secure one of the top six spots in the West. With the new-look roster owning the fourth-best offense and second-best defense during this stretch, Golden State’s ceiling has raised significantly making it a solid sleeper pick to make some serious noise in the postseason.
2025 NBA Finalists Odds
| Finalists | Odds |
|---|---|
| Boston Celtics vs. Oklahoma City Thunder | +185 |
| Cleveland Cavaliers vs. Oklahoma City Thunder | +500 |
| Boston Celtics vs. Denver Nuggets | +950 |
| New York Knicks vs. Oklahoma City Thunder | +1300 |
| Boston Celtics vs. Los Angeles Lakers | +1300 |
| Boston Celtics vs. Golden State Warriors | +1800 |
| Boston Celtics vs. Memphis Grizzlies | +2200 |
| Cleveland Cavaliers vs. Denver Nuggets | +2300 |
| Cleveland Cavaliers vs. Los Angeles Lakers | +3200 |
| Milwaukee Bucks vs. Oklahoma City Thunder | +4300 |
Odds as of March 1, 2025 at FanDuel
2025 Exact NBA Finals Result Odds
| Finals Result | Odds |
|---|---|
| Boston Celtics over Oklahoma City Thunder | +440 |
| Oklahoma City Thunder over Boston Celtics | +470 |
| Oklahoma City Thunder over Cleveland Cavaliers | +870 |
| Cleveland Cavaliers over Oklahoma City Thunder | +1420 |
| Boston Celtics over Denver Nuggets | +1480 |
| Boston Celtics over Los Angeles Lakers | +1900 |
| Oklahoma City Thunder over New York Knicks | +1950 |
| Boston Celtics over Golden State Warriors | +2500 |
| Denver Nuggets over Boston Celtics | +2600 |
| Boston Celtics over Memphis Grizzlies | +2800 |
| New York Knicks over Oklahoma City Thunder | +3800 |
| Los Angeles Lakers over Boston Celtics | +4000 |
Odds as of March 1, 2025 at FanDuel
NBA Championship Betting Strategy
Much of what formulates odds for NBA title contenders obviously stems from regular-season success. However, once the postseason comes and goes, how far a team advances can greatly impact the championship odds heading into next year before free agency and the draft gets underway.
What Impacts NBA Championship Odds?
- Winning and losing streaks
- Injuries to key players
- Seeding in the standings
- Win-loss records against specific opponents
- Postseason success
How To Bet On NBA Futures
An NBA futures bet tends to revolve around the outcomes of both the regular season and playoffs as opposed to specific games the day of.
Here are some examples of some of the more popular futures bets:
Last 10 NBA Championship Winners
| Year | Winning Team | Preseason Odds To Win Title | Opponent In Finals | Series |
|---|---|---|---|---|
| 2024 | Boston Celtics | +350 | Dallas Mavericks | 4-1 |
| 2023 | Denver Nuggets | +1800 | Miami Heat | 4-1 |
| 2022 | Golden State Warriors | +900 | Boston Celtics | 4-2 |
| 2021 | Milwaukee Bucks | +550 | Phoenix Suns | 4-2 |
| 2020 | Los Angeles Lakers | +450 | Miami Heat | 4-2 |
| 2019 | Toronto Raptors | +1850 | Golden State Warriors | 4-2 |
| 2018 | Golden State Warriors | -187 | Cleveland Cavaliers | 4-0 |
| 2017 | Golden State Warriors | -128 | Cleveland Cavaliers | 4-1 |
| 2016 | Cleveland Cavaliers | +280 | Golden State Warriors | 4-3 |
| 2015 | Golden State Warriors | +2800 | Cleveland Cavaliers | 4-2 |
The Celtics’ win in 2024 marked the sixth-different champion in as many years, a feat which hadn’t been accomplished by the league since 1975-80.
The last team to win consecutive championships was the Golden State Warriors in 2017 and 2018. That capped off a 10-year run in which only five different teams (Warriors, Lakers, Mavericks, Cavaliers, and Spurs) won a title.
NBA Teams With The Most Championships
| Team | NBA Titles | NBA Finals Appearances | Most Recent NBA Title |
|---|---|---|---|
| Boston Celtics | 18 | 23 | 2024 |
| Los Angeles Lakers | 17 | 32 | 2020 |
| Golden State Warriors | 7 | 12 | 2022 |
| Chicago Bulls | 6 | 6 | 1998 |
| San Antonio Spurs | 5 | 6 | 2014 |
| Philadelphia 76ers | 3 | 9 | 1983 |
| Detroit Pistons | 3 | 7 | 2004 |
| Miami Heat | 3 | 6 | 2013 |
| New York Knicks | 2 | 8 | 1973 |
| Milwaukee Bucks | 2 | 3 | 2021 |
Boston’s 2024 win moved it past the Los Angeles Lakers for the most championship wins by a single franchise in league history.
The Bulls are the most efficient, sweeping six titles during the 1990s, and the Warriors have the most recent title wins, with four in the last ten years.
NBA Teams That Have Never Appeared In A Finals
| Team | Number Of Seasons | Furthest Finish |
|---|---|---|
| Los Angeles Clippers | 49 | Western Conference Final (2021) |
| Charlotte Hornets/Bobcats | 30 | Eastern Conference Semifinals (1993, 1998, 2001, 2002) |
| Minnesota Timberwolves | 29 | Western Conference Final (2004) |
| Vancouver/Memphis Grizzlies | 23 | Western Conference Final (2013) |
| New Orleans Hornets/Pelicans | 17 | Western Conference Semifinals (2008, 2018) |
What a sad, sad list of teams. If you’re a fan of these squads, apologies in advance — your team (probably) isn’t breaking the curse this year. Never say never though! The Clippers and Pelicans have made exciting runs recently, we’re all rooting for them to make it eventually.
NBA Championship Odds Trends
- Four of the last six NBA Finals have been decided in six games.
- In the last 21 years, the Western Conference is 12-9 in NBA Finals.
- Also over the past 21 years, the No. 1 seed has won the championship 13 times. Those are solid odds.
- The lowest-seeded team to win the NBA Finals in recent history was the sixth-seed 1995 Houston Rockets.
- Since 2010, the top team in the regular season has won the championship five times.
