2023-24 NBA championship odds: Celtics favored, Knicks jump after trade deadline

National Basketball Association

Updated Feb. 8, 2024 4:57 p.m. ET

The NBA trade deadline has come and gone, giving many contenders one last opportunity to bolster their roster to try and make a championship run.

The Boston Celtics (+260) remain the betting favorites to win the title. Boston was at +340 at the beginning of January and holds the league’s best record following the deadline.

Behind the Celtics on the title board are the defending champion Denver Nuggets at +440. The LA Clippers have continued their climb up the oddsboard, with them and the Milwaukee Bucks holding the third-best odds at +550, respectively.

So, which team was the biggest winner in the eyes of the bookmakers? While there were a plethora of trades made, the New York Knicks made the biggest jump in terms of the betting odds.

After trading for Bojan Bogdanovic and Alec Burks, the Knicks are now tied with the Suns on the title betting board at +1600. At the end of January, the Knicks sat at +3400 to win the title.

Let’s check out the updated title odds for every team.

CHAMPIONSHIP ODDS FOR 2023-24 NBA SEASON:*

Boston Celtics: +260 (bet $10 to win $36 total)

Denver Nuggets: +440 (bet $10 to win $54 total)

Milwaukee Bucks: +550 (bet $10 to win $65 total)

LA Clippers: +550 (bet $10 to win $65 total)

Phoenix Suns: +1600 (bet $10 to win $170 total)

New York Knicks: +1600 (bet $10 to win $170 total)

Oklahoma City Thunder: +2000 (bet $10 to win $210 total)

Cleveland Cavaliers: +2200 (bet $10 to win $230 total)

Minnesota Timberwolves: +2400 (bet $10 to win $250 total)

Philadelphia 76ers: +3000 (bet $10 to win $310 total)

Miami Heat: +4200 (bet $10 to win $430 total)

Dallas Mavericks: +4200 (bet $10 to win $430 total)

New Orleans Pelicans +4600 (bet $10 to win $470 total)

Los Angeles Lakers: +5000 (bet $10 to win $510 total)

Sacramento Kings: +5500 (bet $10 to win $560 total)

Golden State Warriors: +10000 (bet $10 to win $1,010 total)

Indiana Pacers: +10000 (bet $10 to win $1,010 total)

Orlando Magic: +24000 (bet $10 to win $2,410 total)

Atlanta Hawks: +24000 (bet $10 to win $2,410 total)

Chicago Bulls: +49000 (bet $10 to win $4,910 total)

Utah Jazz: +49000 (bet $10 to win $4,910 total)

Houston Rockets: +49000 (bet $10 to win $4,910 total)

Toronto Raptors: +60000 (bet $10 to win $6,010 total)

Brooklyn Nets: +60000 (bet $10 to win $6,010 total)

* Odds as of 2/8/2024

FOX Sports NBA analyst and writer Ric Bucher lauded the Cavaliers’ recent success, moving them into the top spot in his weekly NBA power rankings.

“The Cavs’ defense, in particular, has been next level, holding nine of their last 14 opponents to 101 points or less,” Bucher wrote. “Their offense, after adjusting to the loss of Darius Garland, found its groove in January, averaging 120 points a game and shooting nearly 50 percent as a team, both season highs.”

The Cavaliers didn’t make a major move at the deadline, but their title odds have moved significantly from +6000 to +2200 since the end of January.

Before the season, we asked Bucher for some futures bets.

FOX Sports NBA Analyst Ric Bucher’s picks:*

“Yes, the Nuggets lost a couple of key contributors in Bruce Brown and Jeff Green, but they also have a core that is in its prime, signed through next season — meaning no personal contract agendas — and is now bolstered by the collective understanding of exactly what it takes to win it all. That puts them on par with the current nuclei in Golden State and Milwaukee.

“The difference? Those teams are exiting their prime. The Nuggets are entering it. Oh, and they have a 7-foot riddle, Nikola Jokic, for which no one in the league appears to have the answer.”

Long-shot bet to make playoffs

“The Thunder are currently the 11th-best team in the Western Conference, based on their odds to win the conference title. That almost certainly won’t be where they are at season’s end. I would count on them being one of the eight playoff contestants, even if it requires coming in through the Play-In Tournament.

“The depth and versatility of their roster, led by All-Star point guard Shai Gilgeous-Alexander, defensive stopper Lu Dort, Inspector Gadget Chet Holmgren and crafty Josh Giddey, might be one of the league’s best-kept secrets.”

PICK: Thunder (+8500 at time of pick, bet $10 to win $860 total) to make playoffs

PICK: Celtics-Nuggets reach NBA Finals (+900 at time of pick, bet $10 to win $100 total)

PICK: Nuggets to win NBA title (+550 at time of pick, bet $10 to win $65 total)

*Editor’s note: Picks made prior to the start of the NBA season

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