Updated NBA Championship odds

Jun 20, 2013; Miami, FL, USA; Miami Heat small forward LeBron James (6) celebrates after game seven in the 2013 NBA Finals at American Airlines Arena. Miami defeated San Antonio 95-88 to win the NBA Championship. Mandatory Credit: Robert Mayer-USA TODAY Sports
Jun 20, 2013; Miami, FL, USA; Miami Heat small forward LeBron James (6) celebrates after game seven in the 2013 NBA Finals at American Airlines Arena. Miami defeated San Antonio 95-88 to win the NBA Championship. Mandatory Credit: Robert Mayer-USA TODAY Sports
Jun 20, 2013; Miami, FL, USA; Miami Heat small forward LeBron James (6) celebrates after game seven in the 2013 NBA Finals at American Airlines Arena. Miami defeated San Antonio 95-88 to win the NBA Championship. Mandatory Credit: Robert Mayer-USA TODAY Sports
Jun 20, 2013; Miami, FL, USA; Miami Heat small forward LeBron James (6) celebrates after game seven in the 2013 NBA Finals at American Airlines Arena. Miami defeated San Antonio 95-88 to win the NBA Championship. Mandatory Credit: Robert Mayer-USA TODAY Sports

Now that the NBA season is winding down and we are getting closer and closer to the playoffs, our friends over at Bovada have sent us their latest odds.

The two-time defending champion Miami Heat, who started the season as the favorites to win the title, remain the favorites, but the Indiana Pacers, who took the Heat to seven games in the 2013 Eastern Conference Finals, are right behind them.

They are followed by the Oklahoma City Thunder and last year’s Western Conference Champions, the San Antonio Spurs, who also took the Heat to seven games.

The Pacers are a league-best 46-13 while the Heat are just two games back (and only one in the loss column) at 43-14. The Thunder lead the Western Conference with a record of 45-15 and the Spurs are 43-16, 1.5 games back (and only one in the loss column).

Odds to win 2014 NBA Championship

Miami Heat

11/5

Indiana Pacers

5/2

Oklahoma City Thunder              15/4

San Antonio Spurs                    11/1

Los Angeles Clippers                12/1

Houston Rockets                      16/1

Golden State Warriors               20/1

Portland Trailblazers                  20/1

Chicago Bulls

50/1

Brooklyn Nets                           66/1

Dallas Mavericks

66/1

Memphis Grizzlies                     66/1

Toronto Raptors                        66/1

Phoenix Suns

75/1

Washington Wizards                  100/1

Atlanta Hawks

250/1

Cleveland Cavaliers                   250/1

Detroit Pistons

250/1

Minnesota Timberwolves            250/1

New York Knicks                       250/1

Charlotte Bobcats                     500/1

Boston Celtics

750/1