Early into the 2024-25 NBA regular season, oddsmakers continue to have the reigning titleholder Boston Celtics (+260) and Oklahoma City Thunder (+475) as the betting favorites to hoist the Larry O'Brien trophy at the end of the camapign. 

Here's a look at where all contenders across the Association rank in the race to be crowned champion. 

2025 NBA Championship odds

Why are the Boston Celtics favored to repeat?

It's early, and the fact remains that the league has had a unique champion every year since 2019, but even through just two games, Boston appears to be in a league of its own well above other threats in the improved Eastern Conference. 

Its offense is firing on all cylinders, evident by tying the all-time record for 3-pointers made in a game with 29, which should have been easily toppled had a cap not been put over the basket during the final quarter against the New York Knicks on Opening Night. Jayson Tatum is also playing with a boulder on his shoulder, averaging 30.3 points while shooting 48.2 percent from the field to go along with 7.6 rebounds, 4.6 assists, and 1.9 steals.

Kristaps Porzingis will return from injury in December, in all likelihood, and to the dismay of 29 other teams, Boston will be scarier and far more challenging to defeat. 

2025 NBA Championship Contender: Oklahoma City Thunder

As of November 4, the Thunder are one of only two teams (Cleveland Cavaliers) with an undefeated record. They've won their first seven games of the season without backup center Isaiah Hartenstein available, with all seven victories coming by 12 or more points. 

Oklahoma City has the No. 1 defense in all of basketball, allowing just 95.1 points per 100 possessions, which is 5.9 points better than the No. 2 Cavaliers. Shai Gilgeous-Alexander is playing at an MVP level once again, Chet Holmgren has surpassed Victor Wembanyama in the Defensive Player of the Year betting odds, and Jalen Williams is looking more and more like a superstar with each passing game. 

2025 NBA Finalists Odds

Odds as of November 4, 2024 at FanDuel

2025 Exact NBA Finals Result Odds

Odds as of November 4, 2024 at FanDuel

NBA Championship Betting Strategy

Much of what formulates odds for NBA title contenders obviously stems from regular-season success. However, once the postseason comes and goes, how far a team advances can greatly impact the championship odds heading into next year before free agency and the draft gets underway.

What Impacts NBA Championship Odds?

How To Bet On NBA Futures

An NBA futures bet tends to revolve around the outcomes of both the regular season and playoffs as opposed to specific games the day of.

Here are some examples of some of the more popular futures bets:

Last 10 NBA Championship Winners

The Celtics' win in 2024 marked the sixth-different champion in as many years, a feat which hadn't been accomplished by the league since 1975-80.

The last team to win consecutive championships was the Golden State Warriors in 2017 and 2018. That capped off a 10-year run in which only five different teams (Warriors, Lakers, Mavericks, Cavaliers, and Spurs) won a title.

NBA Teams With The Most Championships

Boston's 2024 win moved it past the Los Angeles Lakers for the most championship wins by a single franchise in league history. 

The Bulls are the most efficient, sweeping six titles during the 1990s, and the Warriors have the most recent title wins, with four in the last ten years.

NBA Teams That Have Never Appeared In A Finals

What a sad, sad list of teams. If you’re a fan of these squads, apologies in advance — your team (probably) isn’t breaking the curse this year. Never say never though! The Clippers and Pelicans have made exciting runs recently, we’re all rooting for them to make it eventually.

NBA Championship Odds Trends