Here come the San Antonio Spurs!
Winners of nine of their last 10 games, the Spurs have clawed their way into the NBA Championship conversation by crushing a cadre of top contenders.
Let’s break down the latest odds as the league races towards the playoffs.
🏆 2026 NBA Championship odds
| Team |  |
|---|---|
 Oklahoma City Thunder |
+130 |
 Denver Nuggets |
+550 |
 San Antonio Spurs |
+750 |
 Cleveland Cavaliers |
+1000 |
 Boston Celtics |
+1000 |
 Detroit Pistons |
+1400 |
 New York Knicks |
+1500 |
 Houston Rockets |
+2200 |
 Minnesota Timberwolves |
+3300 |
 Los Angeles Lakers |
+5000 |
Odds courtesy of bet365, one of our best betting sites. Sign up with our bet365 promo code, or get one of our other sportsbook promos.
The Thunder's odds have moved from +230 before the season began to +130 today. Rounding out the Top 5 are the Denver Nuggets (+550), San Antonio Spurs (+750), Cleveland Cavaliers (+1000), and Boston Celtics (+1000).
NBA Championship odds movement
Written off by many as a bubble team when the season began, the Spurs have moved within three games of the Oklahoma City Thunder in the Western Conference standings on the strength of an 11-game winning streak that just came to an end. That span included an impressive 116-106 victory over the aforementioned Thunder, whom the Spurs are now 4-1 against this season.
No longer an afterthought, San Antonio's odds have moved from +1000 to +750 over the past week, the biggest rise of any team in the Top 10.
The biggest fall, meanwhile, belongs to the Los Angeles Lakers, whose odds dropped from +4000 to +5000 over the same stretch. LA's nosedive coincided with three straight losses to the Celtics, Magic, and Suns. LeBron James & Co. have since put together back-to-back blowout wins, but it may be too little, too late for a team with a razor thin margin of error.
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📈 2026 NBA Finals odds over time
Here's a visual representation of how the NBA championship has odds evolved since the offseason.
🔮 NBA Championship prediction
| Bet | Odds | Bet Date | Units |
|---|---|---|---|
| Thunder | +240 | Oct. 21 | 1.0 |
| Thunder | +165 | Dec. 1 | 1.0 |
| Spurs | +1000 | Feb. 24 | 0.5 |
Oklahoma City has the cleanest runway to be the best team in 2026: an MVP-caliber engine in Shai Gilgeous-Alexander entering the heart of his prime, a two-way star wing in Jalen Williams, and a 7-footer in Chet Holmgren whose blend of rim protection, spacing, and feel supercharges modern schemes. That trio already drives elite half-court efficiency and a top-tier defense, and it’s backed by organizational continuity that reliably turns role players into playoff-useful pieces. Holmgren’s strength and timing appear to be fully NBA-hardened, unlocking more switching and fewer help-and-recover compromises, while SGA’s mid-range and foul-drawing remain matchup-proof in May and June.
Depth and optionality push the Thunder over the top. They can win big or small, play five-out without sacrificing rim protection, and toggle between pressure defense and conservative coverages depending on opponent. Crucially, they still have surplus picks and cap flexibility to plug the inevitable holes that show up in a long postseason, whether that’s a second unit scorer, another stretch big, or a specialist wing.
So, why did I decide to sprinkle half a unit on the Spurs in late February? Health. San Antonio is clicking at just the right time while Oklahoma City deals with injuries to SGA, Holmgren, Jalen Williams, and Ajay Mitchell. That's a lot of star power riding the pine. Consider San Antonio my insurance policy.
💰 Sportsbook betting splits and insights
Highest ticket percentage
• Nuggets 8.8%
• Thunder 8.7%
• Mavericks 8.2%
Highest handle percentage
• Thunder 17.9%
• Mavericks 16.3%
• Lakers 13.3%
Biggest liability
• Mavericks
• Lakers
• Warriors
Data courtesy of BetMGM.
2026 NBA Championship opening odds
- Thunder +230
- Knicks +900
- Pacers +900
- Timberwolves +1000
- Cavaliers +1100
- Rockets +1200
- Lakers +1600
- Spurs +1600
- Nuggets +1700
- Celtics +2000
- Warriors +2300
- Magic +2500
- Mavericks +4000
- Clippers +4000
- 76ers +4500
- Heat +5000
- Pistons +7000
- Bucks +7500
- Grizzlies +10000
- Raptors +15000
- Suns +17000
- Kings +20000
- Pelicans +20000
- Nets +25000
- Hawks +30000
- Bulls +40000
- Trail Blazers +40000
- Wizards +60000
- Hornets +60000
- Jazz +60000
NBA Championship trends
- Since the Warriors' 2018 repeat, the NBA has seen seven different champions in seven years. This is the longest such streak since the late 1970s.
- 22 of the last 25 champions ranked in the Top 10 in Defensive Rating during the regular season.
- 23 of the last 25 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 |
| 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 Oklahoma City Thunder are the favorites for the 2026 NBA title.
The Oklahoma City Thunder won the 2025 NBA title, defeating the Indiana Pacers 4-3 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 +4000 to win the 2026 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.
