NBA Championship Odds: Betting Favorites, Sleepers to Win 2023-2024 NBA Finals

NBA Championship Betting Favorites 

After capturing the franchise's first NBA championship, the Denver Nuggets opened as the favorite to win the title again next season. Beyond that, it's no surprise that the Celtics, Bucks and Suns all sit near the top of the odds board. Over the next few months, these odds are going to change and we'll see teams shift around in the standings once changes are made through the NBA Draft, trades and free agency.

We'll keep you updated with all of our latest picks in the futures markets, changes to the odds throughout the offseason, as well as an explanation of why it is a good bet to place. BetQL experts work extensively every day to find you the best value on every game with every wager, and we do the same with our future bets.

2023-2024 NBA Championship Odds 

Here are the odds to win the 2023-2024 NBA Finals as of June 15, courtesy of BetMGM:

Expert Picks to Win 2023-2024 NBA Championship

Milwaukee Bucks (+600, BetMGM)

The Bucks are coming off a disappointing first-round loss despite being the No. 1 seed in the Eastern Conference and finishing the regular season with the best record in the league. In his post-game press conference following Milwaukee’s final loss of the season, Giannis Antetokounmpo told reporters that he didn’t think the season was a failure. Sure, there are positives that you can take away from it, but overall, the organization failed to live up to its expectations. 

Entering the 2023-24 season, the Bucks have the third-shortest odds to win the NBA championship at +600. I like Milwaukee at this price for a number of reasons, but especially because of the way that this past season ended. If we know anything about Giannis, it’s that he takes these types of things personally, so you can bet that he’ll be extremely motivated to get back to the top of the mountain next season. 

Milwaukee’s new head coach, Adrian Griffin, comes highly regarded by many around the league and will provide a fresh outlook and approach from what they've had with Mike Budenholzer. The Bucks also have six players that are under contract next season, including Giannis, Jrue Holiday, Bobby Portis, Grayson Allen, Pat Connaughton and MarJon Beauchamp. Khris Middleton has a player option, but assuming Milwaukee doesn’t blow this roster up and start all over, it’s fair to expect Middleton to be back. 

It’s important for the Bucks to bring back Brook Lopez, who is an unrestricted free agent this summer along with Jae Crowder and Joe Ingles. Their salary cap situation likely won’t allow them to return all three players, but keeping Lopez in the mix will certainly keep Milwaukee’s potential high heading into next season.

With so much hype surrounding the Nuggets right now, and with the Celtics' run still fresh in people’s minds, Milwaukee sitting third in the futures market at +600 is a price that I could get behind.

Philadelphia 76ers (+1400, FanDuel)

At 14-1, I love a sprinkle on the Sixers taking home the title next season. They still have the reigning MVP, Joel Embiid, but more importantly, they no longer have Doc Rivers on the bench. Philadelphia may have lost in the second round of the playoffs -- again! -- but it could have easily found itself in the Finals, assuming it had gotten past the Heat. 

Bringing Nick Nurse in as the franchise's next head coach with a championship under his belt will hopefully help the Sixers get over the hump on not making it out of the second round. While there are talks of James Harden wanting to go back to Houston, general manager Daryl Morey is going to do whatever he can to keep the Beard in Philly. However, if Harden does walk, the Sixers could add another veteran point guard like Fred VanVleet in free agency. (I would actually like this bet a bit more if the Sixers do move on from Harden and bring in VanVleet.) They also have the option of using Tobias Harris’ big contract as a trade piece, giving them a chance to land another big-time name. 

There are a number of options for Philly to explore in the offseason, all of which should bolster its roster enough to make another big title run with Embiid.  

New Orleans Pelicans (+3600, FanDuel) 

When the Pelicans were completely healthy last season, they were nearly unstoppable. From the start of the season to when Zion Williamson re-aggravated his hamstring in early January and missed the remainder of the season, New Orleans had a 24-14 record. That included a seven-game win streak and a stint at the top of the Western Conference standings for a short period of time. With Williamson, CJ McCollum and Brandon Ingram on the floor together, Willie Green’s team is tough to beat. That’s why at 36-1, you’re getting a great price on a team that has the roster to contend for a championship when healthy. 

The biggest risk you’re taking is on Williamson's health. In his three NBA seasons, he’s only played 114 games, including just 29 games in 2023-23. At some point, Williamson needs to figure things out or New Orleans is going to have no choice but to move on from him. I don’t think we’re at that point quite yet, but it could be coming in the next few years. He’s been at the forefront of a lot of off-the-court drama recently, which I could see being a big motivation for him to come back even stronger next season. If that’s the case, I’d want to have a Pelicans 36-1 championship ticket in my pocket. 

Past NBA Finals winners 

Understanding NBA Finals odds

When one door closes, another one opens. That's the case in the futures betting market too. It's never too early to turn our attention to the upcoming season, and the sportsbooks have done this by posting championship odds. This early into the offseason, these odds are reflective of what the market projects these teams will look like at the start of next season. However, these numbers will fluctuate quite a bit throughout the next couple of months, and even throughout all of next season.

The NBA Draft and free agency are two major upcoming events that will have a massive impact on the futures market. For the sake of understanding how to bet NBA futures, consider the Portland Trail Blazers who are priced at 125-1 to win the title next season. If you think they're going to make a major offseason trade that significantly improves their chances of bringing home a championship, you'd want to bet them now because you're getting great value on a team whose odds will certainly shrink if that happens. Similarly, if there is a team near the top of the futures market that you think is being overvalued, you'd want to wait to bet on them to see if you could get a better price either later this summer or once the season starts. For instance, the Nuggets are a team that I would suggest waiting to bet on. Their stock is at an all-time high after winning the title, which is why they're the favorite for next year. But if Denver has a bit of a championship hangover and gets off to a slow start next year, its odds will get longer and you'll be able to grab them at a number that gives you a much better payout.

How to bet NBA Finals odds 

If you are new to the sports betting world and have no idea how to place these bets, you have absolutely nothing to worry about. BetQL has you covered and we'll explain everything right here. Taking an NBA Finals winner future bet simply means you are betting on who is going to win the NBA Finals at the end of the season to take home the championship. Keep in mind, the bet won't be paid out until a winner is crowned. It's easy to place a wager on NBA Finals futures, as we explain below:

• Log on to BetMGM Sportsbook
• Head to the NBA tab
• Click on the futures tab
• Scroll down to "Outright Winner"

You can place these bets at any sportsbook of your choosing, but I recommend using whatever book gives you the best number to get the maximum value on your bet. If one book is offering +400, while the other is offering +550 and you want to bet it, always take the +550.