Newly released 2027 NBA championship odds have the runner-up San Antonio Spurs as the co-favorites with the 2025 champion Oklahoma City Thunder.
Key Takeaways
- The Spurs and Thunder have a combined near-60% probability of winning the Finals.
- The Celtics are listed ahead of the Knicks as the Eastern Conference favorites.
- Since 2018, no team has won the championship more than once.
The Thunder and the Spurs spent the majority of 2026 as the championship odds leaders. The Spurs' seven-game upset of the reigning champions in the Western Conference finals made them the heavy favorites over the New York Knicks before the Finals, but they lost in five games.
FanDuel’s +250 odds imply that both teams have a 28.5% chance of lifting the next Larry O’Brien Trophy. This marks the first time since the 2012-13 season that two teams have opened at +250 or shorter, when the Miami Heat and Thunder had the same odds, according to Sports Odds History.
Interestingly, the Spurs and Thunder both play in the Western Conference. The teams inherently reduce each other's chances of winning the title because only one can reach the Finals.
The 2023-24 champion Boston Celtics are third in title odds at +600 (14.3% chance). NBA analysts Bill Simmons and Marc Stein reported that two-time MVP Giannis Antetokounmpo could be on his way to helping them in their championship pursuit.
Marc Stein confirms Simmons reports on Giannis and the C's:
— CelticsMuse (@CelticsMuse) June 15, 2026
“Bill beat me to it, he was the first one to talk about Giannis’ interest in Boston and from everything I’ve heard the last 2-3 weeks, his report was spot on.”
(@ALLCITY_NBA) https://t.co/WaIplQxvqB
It’s common for league champions to open as favorites in futures markets for the following season. However, the Knicks - whose 13-game winning streak set the second-longest mark in a single postseason - are only fourth at +750 (11.8% chance). Those odds are longer than the +700 price at which they opened last season, per Sports Odds History.
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Odds, trends
NBA conference odds also project two-horse races in the East and the West.
In the Western Conference, the Thunder (+140) have a very small advantage over the Spurs (+145). The combined implied probability of those two outcomes is 82.5%, meaning that nearly five times out of six, either one of these teams should win the conference.
The Celtics (+210) lead the Eastern Conference in futures odds, just ahead of the Knicks (+260). The combined implied probability is a hair over 60%, or three-in-five.
Only one other team in either conference has odds in the triple digits; the Detroit Pistons, the East's best team in the regular season, are listed at +900.
The NBA is riding an eight-year streak without a repeat champion. It hasn’t had a back-to-back conference winner during that time either, and only three teams - the Celtics, Heat, and Golden State Warriors - won their respective conference twice.
If bettors assume the streak of new champions continues, the NBA championship odds favorite would be the Pistons (+2,500).
The Minnesota Timberwolves (+3,300), Pacers (+3,500), and Cleveland Cavaliers (+3,500) would be next in line. Any one of those teams winning the Finals would mark the longest preseason underdog champion since the 2014-15 Warriors (+2,800).
