2023 NBA Finals betting odds update: Celtics favored

Three years ago, the Celtics, Heat, Lakers, and Nuggets were the final four teams left in the “bubble” in the 2020 NBA postseason, marking one of the most bizarre chapters in league history.

Those four teams will face off again in pursuit of this year’s Larry O’Brien trophy in the NBA Finals.

Only this time, oddsmakers are expecting a different result.

Boston is dealing as the clear title favorite (+110) ahead of this year’s NBA conference finals, according to the latest odds at BetMGM.

The Nuggets (+240) and Lakers (+300) are dealing as near-equals out West, while the Heat (+1200) are the obvious long shots in this year’s field.

2023 NBA Finals betting odds: Conference Championships

The last time these four teams faced off on this stage was in 2020, when the Lakers blasted the Nuggets in five games, and the Heat outlasted the Celtics in six before injuries tipped the scales in Los Angeles’ favor in the NBA Finals.

There were no fans or any semblance of home-court advantage in that postseason.

This time, oddsmakers are clearly favoring both home teams to survive the semifinal round, though the betting market sees the underdog Lakers (+120) as a much more viable threat to advance than the eighth-seeded Heat (+375).

Let’s not forget that Boston was the heavy favorite to win it all at this point last year, too, which coincidentally came before another Eastern Conference Finals showdown with Miami.

The Celtics barely survived that seven-game series before ultimately blowing a 2-0 series lead in the Finals to the champion Warriors.

Betting on the NBA?

Golden State won’t be representing the West for just the third time in the last nine seasons.

Instead, the Lakers are looking for a record-setting 32nd trip to the NBA Finals and 17th championship, while the Nuggets are still seeking their first NBA Finals appearance in franchise history – with their last three trips to the conference finals ending in defeat to these very Lakers.

If the Heat defy all odds and win the title, they’d join the Raptors (2018-19), Warriors (2014-15), and Mavericks (2010-11) as the only NBA champions with preseason odds longer than 15/1.

They’d also be just the second team in the last 35 years to oust a conference finals favorite of -350 or shorter.