The Oklahoma City Thunder captured their first NBA championship since moving to Oklahoma, and now Shai Gilgeous-Alexander and crew are the favorites to do it again in 2026. The Thunder open as championship favorites, with the Cleveland Cavaliers, New York Knicks and Houston Rockets next in line.

The Rockets moved from 18-1 to +850 after trading for 15-time all star Kevin Durant. The Eastern Conference champion Indiana Pacers fell from 10-1 to 14-1 after leading scorer Tyrese Haliburton went down with a right leg injury in Game 7 of the NBA Finals. The Boston Celtics, missing Jayson Tatum, also open at 14-1 as do the Los Angeles Lakers.

The Dallas Mavericks, who hold the No. 1 pick in the NBA Draft, are sixth in the Western Conference, with 22-1 championship odds.

Note: Odds as of publication. For the most up to date odds, visit ESPN BET.

2025-26 NBA championship odds