NBA Title Odds 2023-24: Damian Lillard Trade Makes Giannis, Bucks Betting Favorites

The Milwaukee Bucks have vaulted to the top of the 2023-24 NBA championship odds ledger after reportedly acquiring seven-time All-NBA guard Damian Lillard from the Portland Trail Blazers in a three-team deal that also included the Phoenix Suns on Wednesday.

Per FanDuel Sportsbook, Milwaukee has +360 odds ($100 bet to win $360) to take home the Larry O'Brien Trophy. The reigning NBA champion Denver Nuggets and Boston Celtics both sit second at +480. The Phoenix Suns (+600), Los Angeles Lakers (+1400) and Golden State Warriors (+1600) round out the top six.

ESPN's Adrian Wojnarowski relayed the parameters of the deal, which also included Bucks guard Jrue Holiday going to the Blazers and Suns big man Deandre Ayton heading to Portland.

Adrian Wojnarowski @wojespn

Lillard goes Milwaukee as part of a 3-team deal with Jrue Holiday, Deandre Ayton, Toumani Camara, a 2029 unprotected MIL 1st, and unprotected MIL swap rights in 2028 and 2030 to Blazers. Phoenix lands Jusuf Nurkic, Grayson Allen, Nassir Little and Keon Johnson. https://t.co/Ge0H91AiIA

It's easy to see why the Bucks now have the shortest odds to win the title. They sport two superstars in two-time NBA MVP Giannis Antetokounmpo and Lillard, who is coming off averaging a career-high 32.2 points per game.

Milwaukee also has a deep roster that includes talents such as three-time All-Star Khris Middleton, defensive standout and center Brook Lopez and Bobby Portis, who has been one of the best reserves in basketball during his time with the Bucks.

That being said, traversing out of the Eastern Conference won't be easy.

The Boston Celtics, who have made the Eastern Conference Finals three of the past four years, figure to be the Bucks' biggest adversary on paper.

Other potential standout players and teams in the way include reigning NBA MVP Joel Embiid and the Philadelphia 76ers and playoff superstar Jimmy Butler and the defending Eastern Conference champion Miami Heat.

Of course, the Western Conference has their powerhouses, too. The Denver Nuggets have retained their core four led by two-time NBA MVP Nikola Jokić, and the Los Angeles Lakers are on the rise after a fantastic playoff run.

But the Bucks are in very good shape now with two players easily capable of scoring 30 a night flanked by a deep roster that's stout on both ends. We'll see how it all plays out soon enough beginning Oct. 26 when the Bucks open versus the 76ers.