NBA championship odds are on the board with the start of the regular season closing in.
The Spurs are the 23% favorite at Polymarket, with the Thunder next at 19%. The defending champion Knicks are next at 13%, followed by LeBron James and the Sixers at 11%.
Let's take a look at the latest NBA odds.
🏆 Latest 2027 NBA Championship odds
| Team |  |
|---|---|
 Spurs |
23% |
 Thunder |
19% |
 Knicks |
13% |
 76ers |
11% |
 Timberwolves |
5% |
 Celtics |
5% |
 Heat |
3% |
 Nuggets |
3% |
 Pistons |
3% |
 Raptors |
3% |
Odds updated as of 10-6. Odds from Polymarket. For help understanding probabilities, see our odds calculator.
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There's not been much change since the LeBron James signing brought the Sixers' title odds to a robust 11%. The Spurs went from 22% on August 1 to 23% on October 1, while the Thunder fell from 20% to 19%.
NBA Championship trends
- Since the Warriors' 2018 repeat, the NBA has seen eight different champions in eight years. This is the longest such streak since the late 1970s.
- 23 of the last 26 champions ranked in the Top 10 in Defensive Rating during the regular season.
- 24 of the last 26 champions were Top 5 in either Offensive or Defensive efficiency.
- Since 2019, nearly every champion has been led by a non-U.S. superstar or a team built on international depth.
🏀 Recent NBA Finals winners
Here's a look at the last 10 NBA championship winners, courtesy of SportsOddsHistory:
| Year | Team | Opening Odds |
| 2026 | New York Knicks |
12.5% |
| 2025 |  Oklahoma City Thunder |
9.5% |
| 2024 |  Boston Celtics |
15.4% |
| 2023 |  Denver Nuggets |
6.7% |
| 2022 |  Golden State Warriors |
7.7% |
| 2021 |  Milwaukee Bucks |
16.7% |
| 2020 |  Los Angeles Lakers |
5.3% |
| 2019 |  Toronto Raptors |
1.5% |
| 2018 | Golden State Warriors |
62.7% |
| 2017 | Golden State Warriors |
31.7% |
Odds are correct at the time of publishing and are subject to change.
Not intended for use in MA.
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NBA Championship Odds FAQs
The San Antonio Spurs are favored to win the 2027 NBA Finals.
The New York Knicks won the 2026 NBA title, defeating the Spurs 4-1 in the NBA Finals.
