The Indiana Pacers pulled off another upset win in Game 3 to take a 2-1 lead in the NBA Finals over the Oklahoma City Thunder.
The NBA Finals odds still favor the Thunder to get the job done, but things are much closer than they were just a game ago, with OKC rising from -550 to -230 while the Pacers shortened from +400 to +190.
Let's take a closer look at the latest NBA odds.
🏆 NBA Championship odds
Who will win the NBA Championship?
Oklahoma City Thunder (-230)
The Thunder’s 68 wins put them in good company throughout their run in the NBA playoffs. Only five other NBA teams have boasted a higher win percentage than OKC’s .829 win rate, and four of those clubs went on to claim the NBA Championship. Oklahoma City’s +12.8 net rating is second all-time behind only the 1995-96 Chicago Bulls.
Even though they're staring a 2-1 series deficit in the face with home-court advantage gone, the Thunder are still expected to prevail by the oddsmakers when it's all set and done.
Indiana Pacers (+190)
The Pacers entered the playoffs as long shots after finishing fourth in the Eastern Conference, a full 14 games behind the top-seeded Cavaliers. They've since dispatched the Bucks and Cavs in five games apiece and then bounced the Knicks in six.
Their run has been characterized by a number of historically improbable comebacks, with the latest occurring in Game 1 of the Finals. Indy rallied from 15 down in the fourth quarter, with Tyrese Haliburton's winning bucket with 0.3 seconds left to give the Pacers their first and only lead of the game serving as the exclamation point.
In Game 3, the Pacers overcame a 5-point fourth-quarter deficit.
📈 2025 NBA Finals odds over time
Here's a visual representation of how the NBA championship odds have evolved over the course of this season.
⚡My NBA Finals pick: Thunder win series, 4-2
The Thunder will win the NBA title, but not after the Pacers push back with two wins.
Indiana can match OKC’s depth and speed and don’t make too many mistakes, which is something Oklahoma City thrives on for offense. But in the end, the Thunder’s talent takes over, with Shai Gilgeous-Alexander leading the way.
Oklahoma City wins this series in six games, which is paying +375 at bet365.
Pick made before Game 1.
💰 Sportsbook betting splits and insights
Highest ticket percentage:
• Celtics 11.4%
• Lakers 11.3%
• Nuggets 10.8%
Highest handle percentage:
• Thunder 19.8%
• Celtics 13.5%
• Lakers 9.7%
"Before the NBA Finals began, the Thunder winning was the ideal outcome for the sportsbook," said Christian Cipollini, Trading Manager, BetMGM. "After Game 1, action is more balanced and now the Pacers lifting the Larry O’Brien Trophy is the best result for BetMGM."
All data courtesy of BetMGM.
👑 2025 NBA Finals MVP odds
The 2024-25 season was a coming-out party for Shai Gilgeous-Alexander, whose prolific scoring and prodigious playmaking powered the Thunder to the best record in the NBA. The three-time All-Star led the league with 32.7 points per game and scored 50 points or more three times over a seven-game stretch. His ability to score any time against anyone has OKC favored to be the last team standing in June.
Visit our NBA Finals MVP Odds page for more detailed analysis.
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NBA Championship Odds FAQs
The Oklahoma City Thunder are the favorites for the 2025 NBA title.
The Boston Celtics won the 2024 NBA title, defeating the Dallas Mavericks 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 available at around +1400 to win the 2025 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.
