NBA Championship odds 2024: Nuggets and Celtics early favorites

Our NBA Championship odds for the 2023-24 season are now here after the Denver Nuggets took out the Miami Heat in the 2023 NBA Finals.

Where are the defending champs in relation to other top-end contenders? What about the Miami Heat after their shocking run to the Finals?

A lot of this is going to change with NBA free agency opening in July. Trades will likely play a major role when it comes to who Vegas has as favorites moving forward.

But for now, let’s look at the initial NBA Championship odds following Denver’s closeout Game 5 win over Miami, via Odds Shark.

Related: Top 100 NBA free agents of 2023

NBA Championship odds 2024

NBA Championship odds 2024: Nuggets and Celtics early favorites
Mark J. Rebilas-USA TODAY Sports
Team NBA Championship Odds
Denver Nuggets +450
Boston Celtics +650
Milwaukee Bucks +800
Phoenix Suns +850
Dallas Mavericks +900
Golden State Warriors +1200
Philadelphia 76ers +1200
Los Angeles Lakers +1400
Los Angeles Clippers +1600
Memphis Grizzlies +1800
New Orleans Pelicans +2000
Miami Heat +2200
Cleveland Cavaliers +2500
New York Knicks +3300
Sacramento Kings +3300
Minnesota Timberwolves +4000
Atlanta Hawks +5500
Toronto Raptors +6600
Oklahoma City Thunder +8500
Brooklyn Nets +8500
Portland Trail Blazers +10000
San Antonio Spurs +10000
Houston Rockets +10000
Chicago Bulls +12500
Utah Jazz +12500
Indiana Pacers +15000
Orlando Magic +15000
Washington Wizards +20000
Charlotte Hornets +30000
Detroit Pistons +40000

Related: Sportsnaut’s updated NBA power rankings

NBA: Finals-Miami Heat at Denver Nuggets
Isaiah J. Downing-USA TODAY Sports
  • Denver Nuggets: There’s absolutely no reason to believe that Denver can’t repeat as NBA champions. Nikola Jokic, Jamal Murray and Michael Porter Jr. are all under contract for next season. Denver’s depth likely won’t be an issue, especially with 2022 first-round pick Christian Braun likely set to take on a larger role.
  • Boston Celtics: Fresh off losing to Miami in the Eastern Conference Finals, Boston is likely going to maintain the status quo this summer. That includes signing stars Jayson Tatum and Jaylen Brown to super-max contract extensions. Boston is as talented as any team in the NBA. It’s all about consistency and core pieces playing better in crunch time.
  • Milwaukee Bucks: After boasting the best record in the NBA this past regular season, Milwaukee was on the receiving end of one of the biggest upsets in playoff history. Following said loss to Miami in the first round, the Bucks fired head coach Mike Budenholzer. With Adrian Griffin now manning the bench, the pressure is squarely on Giannis Antetokounmpo and Co.
  • Phoenix Suns: Speaking of pressure, Devin Booker and Kevin Durant are going to be under a microscope in the desert next season. Their NBA Championship odds add another layer to this. With Chris Paul likely gone and Frank Vogel replacing Monty Williams on the bench, it’ll be interesting to see what happens moving forward.
  • Dallas Mavericks: Dallas is going to be one of the teams most impacted by free agency. Kyrie Irving is set to hit the open market after being acquired from Brooklyn in February. Should he depart, the Mavs will have a hard time finding an equal running partner for Luka Doncic despite their struggles after the aforementioned trade.
  • Golden State Warriors: As long as Stephen Curry is playing at an elite level, the Warriors’ NBA Championship odds are going to be right up there with other contenders. However, the Dubs now find themselves in a different position than in the past. General manager Bob Myers has departed. Draymond Green will hit free agency next month. Meanwhile, the Warriors’ aging core is coming off a second-round exit at the hands of the Lakers in the NBA Playoffs.
  • Philadelphia 76ers: James Harden. That’s the big-ticket story around Philadelphia heading into free agency. Will the former NBA MVP opt to leave the 76ers for another team? If so, who will front office head Daryl Morey find to replace him? What we do know is that Joel Embiid will remain in Philadelphia and be coached by Nick Nurse following the firing of Doc Rivers.
  • Los Angeles Lakers: Fresh off a surprising run to the Western Conference Finals, everything is up in the air for the Lakers. Will LeBron James retire? What about the futures of impending free agents D’Angelo Russell and Austin Reaves? The answers to these questions will tell us a lot moving forward.
  • Los Angeles Clippers: When healthy, the duo of Kawhi Leonard and Paul George is among the best in the entire NBA. Unfortunately, the two aging stars just have not been able to stay healthy. In fact, they both missed the 2023 NBA Playoffs. At +1600, the Clippers’ NBA Championship odds could be enticing. Just beware of the aforementioned injuries.
  • Memphis Grizzlies: This is one team that will be impacted the most by what happens around the Association following the NBA Finals. Star guard Ja Morant is facing a lengthy suspension after multiple incidents with a firearm. Even if he’s not suspended for the entire 2023-24 season, Memphis seeding out west could be impacted big time.

NBA Championship odds 2024: Dark horses

nba championship odds: new york knicks
Jim Rassol-USA TODAY Sports
  • Miami Heat (+2200): For those who are surprised that Miami’s odds are not up there with other contenders, don’t be. This might have been one of the least-talented conference title teams in recent memory. That’s just a testament to the job Erik Spoelstra has done as head coach. We fully expect front office head Pat Riley to add another big-time running partner for Jimmy Butler this summer. That’ll impact Miami’s odds moving forward.
  • New York Knicks (+3300): Fresh off an appearance in the Eastern Conference Semifinals, things are looking up big time for the Knicks. They have a legit star in Jalen Brunson. What happens with Julius Randle and R.J. Barrett this summer will dictate whether New York is seen as a legit title contender in 2023-24.
  • Sacramento Kings (+3300): Sacramento is coming off its best season in a quarter century. Mike Brown earned NBA Coach of the Year honors. De’Aaron Fox morphed into an absolute star. It all equated to a premature exit in the first round at the hands of the Golden State Warriors. With that said, Sacramento’s future is bright. At +3300, the team might be a fun under-the-radar bet.

NBA Championship history (past decade)

nba championship history: golden state warriors
Cary Edmondson-USA TODAY Sports
  • 2022-23: Denver Nuggets
  • 2021-22: Golden State Warriors
  • 2020-21: Milwaukee Bucks
  • 2019-20: Los Angeles Lakers
  • 2018-19: Toronto Raptors
  • 2017-18: Golden State Warriors
  • 2016-17: Golden State Warriors
  • 2015-16: Cleveland Cavaliers
  • 2014-15: Golden State Warriors
  • 2013-14: San Antonio Spurs

This article was originally published on and is republished here with permission.

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