2025-26 NBA Finals Odds: Thunder the Favorite, Followed by Spurs
NBA championship odds for the 2025-26 season are getting more attention as the playoffs roll along. Still, the Oklahoma City Thunder, coming off their first title, remain a solid favorite to repeat.
Surprisingly, though, the Eastern Conference's top team in 2026 NBA Finals futures odds is already gone. The Boston Celtics got bounced by the Philadelphia 76ers in the first round.
Prediction markets are also getting involved, with prediction market apps such as Kalshi offering users a way to trade contracts on who will win the NBA Finals. We have included the latest NBA Finals odds below at traditional sportsbooks, as well as Kalshi. Use our Kalshi promo code to get started by clicking on the module below.
Below are current 2025-26 NBA Finals odds from an array of sportsbooks, including bet365, followed by oddsmaker insights. Check back regularly for updates and use our BetMGM bonus code to get the most out of your action on 2026 NBA futures odds.
And for more game-by-game coverage, check out Patrick Everson's NBA Playoffs Odds and Action Report.
(Feature image credit: Kyle Terada/Imagn Images)
Nba Champion Odds
| Time | Bet365 | BetMGM | DraftKings | Caesars | FanDuel | HardRock | RiversCasino | |
|---|---|---|---|---|---|---|---|---|
| |  › |  › |  › |  › |  › |  › |  › | |
| -165 | -160 | -160 | -165 | -165 | -160 | -177 | ||
| +320 | +300 | +320 | +310 | +320 | +325 | +325 | ||
| +700 | +700 | +700 | +700 | +750 | +700 | +700 | ||
| +1800 | +1800 | +1800 | +1800 | +1800 | +1750 | +1500 | ||
| +4500 | +5000 | +4500 | +5000 | +4500 | +5000 | +4500 | ||
| +10000 | +10000 | +10000 | +9000 | +12500 | +10000 | +10000 | ||
| +50000 | +50000 | +50000 | +50000 | +50000 | +50000 | +50000 | ||
| +50000 | +50000 | +50000 | +50000 | +50000 | +50000 | +25000 |
2026 NBA Finals Odds
Spurs Sparkle
LATEST UPDATE: The San Antonio Spurs are the flavor of the past three months in BetMGM's NBA Finals odds. From Feb. 1-April 2, the Spurs went a scorching 27-2, including two 11-game win streaks.
That helped Victor Wembanyama & Co. finish the regular season at 62-20, the second-best record in the NBA, behind only the Oklahoma City Thunder. Then San Antonio got a gentleman's sweep of the Portland Trail Blazers, winning the first-round series 4-1.
All that has gotten the attention of oddsmakers and bettors alike. San Antonio is all the way up to the second choice in NBA futures odds, now at +325. That's after starting out at +2500 last summer.
On March 1, the Spurs were No. 3 in tickets and money at BetMGM. Over the past few weeks, they were No. 1 in both counts. As of May 4, San Antonio is No. 2 in tickets and money.
But the Denver Nuggets lead the ticket count, and they're now off the board after losing to Minnesota in the first round. So among remaining teams, the Spurs have taken the most wagers at BetMGM.
That includes a pre-playoffs bet of $50,000 on San Antonio +650 to win the title, for a potential profit of $325,000. It's also worth noting that the Spurs are 4-1 against the Thunder this season.
"The Spurs are the team I am most concerned with," BetMGM trading manager Hal Egeland said. "They're [one of our] worst results outside of the Lakers, and their success against the Thunder this year proves they are a legitimate threat."
Thunder Rumbling
LATEST UPDATE: Defending champion Oklahoma City (64-18 regular season) remains the favorite, now advancing to a minus-money price at -145.
OKC kept rolling to open the postseason, sweeping the Phoenix Suns 4-0, and the Thunder are 23-3 in their last 26 games. You might recall that the Thunder began the season 24-1.
Last summer, OKC opened as the +240 favorite in 2025-26 NBA Finals odds. Just before Christmas, the Thunder were all the way into a tidy +110. They were in the +140/+150 range the past couple months and were +120 early in the first round.
Oklahoma City is No. 3 in tickets at BetMGM. And after spending much of the season with a sizable lead in money before yielding for a few weeks to the Spurs, the Thunder are once again No. 1 in money.
And BetMGM wouldn't mind a repeat title, at the moment.
"Among the true contenders, OKC is the best result on the futures market. The sportsbook is in the enviable position of getting to cheer for the favorite to win it all," BetMGM trader Anthony Parenti said.
Added Egeland: "We've taken money on the Thunder all year. Having said that, they're currently a pretty good result for us in the futures book.
"There will be a decent amount of open parlay liability on OKC, which is a little more difficult to calculate. But generally speaking, due to their price as favorites, we've avoided a big liability on the reigning champs."
So what would a dream Finals be?
"The Thunder and Cavs would be our best results. We would love for that to be the Finals matchup," Egeland said.
The top five in ticket count in BetMGM's NBA championship odds:
- Nuggets
- Spurs
- Thunder
- Pistons
- Lakers
And the top five in money in BetMGM's NBA Finals futures odds:
- Thunder
- Spurs
- Nuggets
- Celtics
- Pistons
However, just like the Nuggets, the Boston Celtics are no longer around. The Celtics led the Philadelphia 76ers 3-1 in a best-of-7 first-round series, but stunningly lost the final three games.
When the postseason began, Boston was the +550 third choice in BetMGM's odds to win the NBA Finals, behind only OKC and San Antonio.
Rounding out the top five in NBA championship odds are New York at +900, Detroit at +1700 and Cleveland at +2000.
Drawing Dollars
LATES UPDATE Egeland noted a couple teams getting bettors' attention and/or creating liability of late: Obviously San Antonio and, to a lesser extent, the East No. 1 seed Detroit Pistons.
As noted above, Detroit is now No. 4 in tickets and No. 5 in money at BetMGM. And there's a $25,000 bet on Pistons +1400 to win the NBA Finals, which could pay out $350,000.
Detroit just finished digging out of a 3-1 series hole vs. No. 8 seed Orlando. The Pistons took the final three games, advancing to a second-round meeting with the Cleveland Cavaliers.
Detroit led the Eastern Conference with a 60-22 regular-season mark, trailing only OKC and San Antonio. The Pistons are the +1700 fourth choice in NBA championship odds.
"We have a strong customer base in Michigan that loves to bet their hometown teams," Egeland said. "I don't believe the Pistons belong with the upper echelon of teams in the NBA, talent-wise.
"But since they're in the East, they have to be taken seriously as a contender."
BetMGM has a handful of teams it's rooting against in NBA championship futures odds, most notably:
The Lakers looked as if they were out of it on March 1, then went on a notable upswing. Los Angeles was a distant +8000 in NBA Finals futures odds, with a 35-24 record. But a 16-2 stretch got the Lakers to 51-26, and they finished at 53-29.
BetMGM responded by shortening L.A. all the way to +2500 at one point. However, the Lakers lost Luka Doncic (hamstring) and Austin Reaves (oblique). Reaves missed much of the first round, and Doncic's return is still uncertain.
That sent the Lakers' NBA futures odds tumbling to +25000 pre-Round 1. But LeBron James & Co. still managed to beat the Houston Rockets 4-2 in the first round. So the Lakers are all the way in to the +2500 sixth choice among the eight remaining teams.
"The Lakers are our worst result by a pretty wide margin," BetMGM trading manager Hal Egeland said. "But we're used to coming into the playoffs with a big liability on the Lakers.
"I don't believe the Lakers to be legitimate contenders, but there's a closer eye on them, with the liability they hold."
Surprising Liability Leaders
Now, there's also a closer eye on the 76ers and Timberwolves, too. As noted above, the Sixers stunned the Celtics and the T-Wolves sank the Nuggets in Round 1.
Entering the first round, Philly was a massive +25000 in NBA Finals futures odds. Now, the 76ers are +3500, seventh of the eight remaining teams. Minnesota was +8000 before Round 1 and is +8000 on May 4.
There are enough long-odds tickets on the Sixers and T-Wolves to create issues for BetMGM.
"The Timberwolves and 76ers are now both in the top three for liability. We still won't love the Spurs, but we'll want them to beat the Wolves now," Egeland said.
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.
For extra value betting on NBA games, use our BetMGM bonus code and get bonus bets as a new user welcome.
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.
Remember, you can also bet the NBA finals with the bet365 bonus code!
