2023-24 NBA championship odds: Celtics remain favorites, Thunder surging

National Basketball Association

Updated Jan. 16, 2024 2:12 p.m. ET

We’re into the 2024 portion of the 2023-24 NBA regular season, and the Boston Celtics (+290) remain alone at the top of the oddsboard as the favorites to win the title. Boston was at +340 at the beginning of January.

In addition to being the lone favorites, the Celtics have the best record in the league (31-9).

Behind them are the defending champion Denver Nuggets, who remained at +420.

Rounding out the top three are the Milwaukee Bucks, coming in at +460.

But one hot team made a huge leap up the betting board.

Let’s check out the title odds for every team, plus dig into the biggest movers.

CHAMPIONSHIP ODDS FOR 2023-24 NBA SEASON: *

Boston Celtics: +290 (bet $10 to win $39 total)

Denver Nuggets: +420 (bet $10 to win $52 total)

Milwaukee Bucks: +460 (bet $10 to win $56 total)

LA Clippers: +1100 (bet $10 to win $120 total)

Philadelphia 76ers: +1200 (bet $10 to win $130 total)

Phoenix Suns: +1300 (bet $10 to win $140 total)

Oklahoma City Thunder: +1800 (bet $10 to win $190 total)

Minnesota Timberwolves: +2100 (bet $10 to win $220 total)

Los Angeles Lakers: +2900 (bet $10 to win $300 total)

Dallas Mavericks: +3200 (bet $10 to win $330 total)

Miami Heat: +3600 (bet $10 to win $370 total)

Sacramento Kings: +3600 (bet $10 to win $370 total)

New York Knicks: +3700 (bet $10 to win $380 total)

New Orleans Pelicans +5000 (bet $10 to win $510 total)

Golden State Warriors: +5000 (bet $10 to win $510 total)

Cleveland Cavaliers: +6000 (bet $10 to win $560 total)

Indiana Pacers: +8000 (bet $10 to win $810 total)

Orlando Magic: +10000 (bet $10 to win $1,010 total)

Atlanta Hawks: +12000 (bet $10 to win $1,210 total)

Houston Rockets: +13000 (bet $10 to win $1,310 total)

Chicago Bulls: +24000 (bet $10 to win $2,410 total)

Toronto Raptors: +24000 (bet $10 to win $2,410 total)

Brooklyn Nets: +31000 (bet $10 to win $3,110 total)

Memphis Grizzlies: +37000 (bet $10 to win $3,710 total)

Utah Jazz: +50000 (bet $10 to win $5,010 total)

Portland Trail Blazers: +100000 (bet $10 to win $10,010 total)

Washington Wizards: +100000 (bet $10 to win $10,010 total)

Charlotte Hornets: +100000 (bet $10 to win $10,010 total)

San Antonio Spurs: +100000 (bet $10 to win $10,010 total)

Detroit Pistons: +100000 (bet $10 to win $10,010 total)

* Odds as of 1/16/2024

That team with the surging odds? OKC.

The Thunder currently have the second-best winning percentage in the Western Conference behind the Timberwolves.

Oklahoma City has moved up to +1800 after being at +3200 to close out the 2023 calendar year. The Thunder entered the season at +8000.

FOX Sports NBA Analyst Ric Bucher ranked OKC as No. 2 in his recent Power Rankings.

“The Thunder went 4-0 last week, nudging them past one of the Jazz’s victims, the Nuggets, into the No. 2 spot. The relative ease of OKC’s schedule — they beat Washington, Miami, Portland and a fading Orlando squad — kept them from dethroning the No. 1 Celtics, who went 3-1, their one loss being to the Bucks in Milwaukee after needing overtime the night before in Boston to vanquish the fourth-ranked Minnesota Timberwolves. That’s a challenging 48 hours,” Bucher said.

Bucher gave his prediction for the NBA Finals prior to the start of the season.

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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