Opening 2024 NBA Championship Odds for All 30 Teams

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The Denver Nuggets sent the Mile High City into euphoria on Monday night with a hard-fought Game 5 victory over the Miami Heat, giving the Nuggets their first title in franchise history in the process.

Sportsbooks wasted no time establishing a power rankings of sorts for the 2023-24 NBA season, posting the 2024 NBA championship odds before the final whistle even sounded.

NBA Championship Odds 2024

The Nuggets are slight favorites to repeat, sitting at +500 with the Boston Celtics (+550) and Milwaukee Bucks (+650) both nipping at their heels.

Denver started the 2022-23 season as roughly a +1700 bet to win the 2023 NBA title, meaning bettors who wagered $100 on the Nuggets at the start of the season wound up with a $1700 profit on Monday night.

Free Agency, Draft Unlikely to Alter Landscape

While there are some notable names heading for free agency this offseason - including James Harden and Kyrie Irving - they are not the needle-movers they once were when it comes to NBA futures.

When odds on Harden's next team were released after the 76ers were knocked out of the postseason, the Houston Rockets - one of his former teams - was at the top of the list. The Rockets are currently +10000 longshots, and that likely factors in the potential of landing The Beard.

The consensus No. 1 pick in the 2023 NBA Draft, Victor Wembanyama, is a 7'3 phenom, but he is not expected to come in and dominate for the draft lottery-winning San Antonio Spurs, at least not in year one.

Recent NBA Champions

The Nuggets' 2023 title gave the Western Conference its seventh championship in the past ten years, and tenth in the past 15. The West is seen as the stronger, or at least more-balanced, conference overall by oddsmakers. Five of the top-seven favorites are from the West, with only the Bucks and Celtics cracking that septet from the East.

The third-favorite from the Eastern Conference is the Philadelphia 76ers at a distant +1300. The reigning Eastern Conference champions, the Miami Heat, barely crack the top ten at +1800.

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