The first major domino of the NBA offseason has fallen, as Giannis Antetokounmpo was at long last traded by the Milwaukee Bucks.
The Miami Heat fell from +3300 to +1800 in the NBA championship odds after bringing in The Greek Freak in a deal featuring multiple first-round picks.
Still sitting atop the NBA odds board are the San Antonio Spurs and the Oklahoma City Thunder. Check out the full list of odds below.
🏆 Latest 2027 NBA Championship odds
| Team |  |
|---|---|
 Spurs |
+250 |
 Thunder |
+260 |
 Celtics |
+625 |
 Knicks |
+700 |
 Heat |
+1800 |
 Nuggets |
+2500 |
 Pistons |
+2500 |
 Lakers |
+3000 |
 Timberwolves |
+3300 |
 Pacers |
+3500 |
Odds updated as of 6-23, courtesy of bet365, one of our best betting sites. Sign up with our bet365 promo code, or get one of our other sportsbook promos.
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Despite falling short in dramatic fashion in the NBA Finals, the Spurs had double-digit leads in four of the five games and looked dominant for large stretches of the series. With Victor Wembanyama and the rest of the young core taking another step, it's not that shocking to see San Antonio atop the 2026-27 odds board at +250.
Right behind them are the Thunder (+260), who fell to the Spurs in the Western Conference Finals. The East is expected to run through the Celtics (+625) and Knicks (+700) in 2026, even after the Heat (+1800) traded for Giannis Antetokounmpo.
BUCKS BOTCHED IT! https://t.co/EP8lKDl1xz pic.twitter.com/Gx1H8N8xT5
— Joe Osborne (@JTFOz) June 23, 2026
Dallas Mavericks NBA Championship odds
Just two months after winning the National Championship, Dusty May came to terms with the Dallas Mavericks to make the coveted college-to-pro move.
BREAKING: University of Michigan coach Dusty May has agreed to become the new head coach of the Dallas Mavericks, sources tell me, @AdamSchefter, @PeteThamel. Major college-to-pro jump for the 2026 NCAA championship coach and swing for the Mavericks and Masai Ujiri. pic.twitter.com/rwlwhRtNfo
— Shams Charania (@ShamsCharania) June 22, 2026
While the Mavs still have +12500 odds at bet365 to win, this offers an interesting outlook for the franchise. Cooper Flagg looked like the real deal in his rookie season, and Kyrie Irving is set to return after missing last season with an injury.
Dallas isn't winning a title next season, but things are starting to look up after the team's disastrous Luka trade...
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.
🏀 NBA Finals winners since 2000
| Year | Team | Opening Odds |
| 2026 | New York Knicks |
+700 |
| 2025 |  Oklahoma City Thunder |
+950 |
| 2024 |  Boston Celtics |
+550 |
| 2023 |  Denver Nuggets |
+1400 |
| 2022 |  Golden State Warriors |
+1200 |
| 2021 |  Milwaukee Bucks |
+500 |
| 2020 |  Los Angeles Lakers |
+1800 |
| 2019 |  Toronto Raptors |
+6600 |
| 2018 | Golden State Warriors |
-168 |
| 2017 | Golden State Warriors |
+215 |
| 2016 |  Cleveland Cavaliers |
+300 |
| 2015 | Golden State Warriors |
+2500 |
| 2014 | San Antonio Spurs |
+1000 |
| 2013 | Miami Heat |
+250 |
| 2012 | Miami Heat |
+225 |
| 2011 |  Dallas Mavericks |
+3000 |
| 2010 | Los Angeles Lakers |
+250 |
| 2009 | Los Angeles Lakers |
+350 |
| 2008 | Boston Celtics |
+1000 |
| 2007 | San Antonio Spurs |
+450 |
| 2006 | Miami Heat |
+350 |
| 2005 | San Antonio Spurs |
+400 |
| 2004 |  Detroit Pistons |
+1500 |
| 2003 | San Antonio Spurs |
+1100 |
| 2002 | Los Angeles Lakers |
+200 |
| 2001 | Los Angeles Lakers |
+180 |
| 2000 | Los Angeles Lakers |
+400 |
Odds courtesy of Sports Odds History.
NBA Championship Odds FAQs
The San Antonio Spurs (+250) are the favorites to win the 2027 NBA Championship.
The New York Knicks won the 2026 NBA title, defeating the Spurs 4-1 in the NBA Finals.
NBA Championship odds above are in American format, meaning a $100 bet at odds of +250 would profit $250 if it wins.
Oddsmakers at sportsbooks create odds to win the NBA Championship based on the team's implied probability to win the title. The team with the lowest odds has the best chance to win the NBA Championship.
The Los Angeles Lakers are currently +3000 to win the 2027 NBA title.
Odds typically update in real time based on playoff outcomes, injuries, and market movement.
Most legal sportsbooks offer NBA Finals futures, including bet365, FanDuel, BetMGM, Caesars, and DraftKings.
