NBA Power Rankings Ahead of 2023-24 Season (Who Are the Contenders?)
By Peter Dewey
The 2023-24 NBA season begins on Tuesday night with two games, and four of the top six teams in the NBA Finals odds will be playing in those matchups.
For NBA fans, the season can't come soon enough after we saw a crazy 2022-23 season that saw the second eight seed in NBA history (the Miami Heat) make the NBA Finals.
Entering this season, I am power ranking every single team based on their odds to win it all, and there a few "contenders" who may be overvalued in the odds early on this season.
Sure, the Boston Celtics, Milwaukee Bucks and Denver Nuggets should be in the mix, but should bettors be sold on the Dallas Mavericks, Philadelphia 76ers and others? That's what we're here to decipher as the season goes on.
If you’re looking for more NBA futures, I shared 15 (!!) futures that I’m betting on in the 2023-24 season in the first edition of “Peter’s Points.”
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NBA Championship Odds for Every Team
NBA Power Rankings Based on Odds
1. Denver Nuggets (+550)
The defending champions are third in the odds, but they bring back almost all of their core from last season's championship. As long Nikola Jokic and Jamal Murray are healthy, this team should be among the best in the West.
2. Boston Celtics (+400)
Adding Jrue Holiday and Kristaps Porzingis gives Boston a different look this season, and the team is favored to win the title. Jayson Tatum and Jaylen Brown are still one of the best duos in the NBA.
3. Milwaukee Bucks (+400)
Can Damian Lillard bring a title back to Milwaukee? Lillard teams up with Giannis Antetokounmpo as the Bucks look to get over last season's playoff collapse.
4. Phoenix Suns (+650)
Kevin Durant, Devin Booker and Bradley Beal have a ton of hype, but will the team's Big 3 stay healthy enough to compete for a title?
5. Los Angeles Lakers (+1300)
The Lakers have one of the deepest teams they've had in the LeBron James era, and the team is fresh off a WCF appearance. This could be King James' best chance to get a fifth ring.
6. Golden State Warriors (+1400)
The Warriors will likely go as far as Steph Curry carries them. The team added veteran Chris Paul, and Golden State is hoping a few young players can pop to get the team back in the conversation for the Finals.
7. Los Angeles Clippers (+2700)
As always is the issue -- the Clippers need to stay healthy to compete for a title this season. They have some favorable odds if that happens, but that's the riskiest bet of all.
8. Miami Heat (+3000)
Miami has made the NBA Finals twice in four seasons, and although it missed out on Damian Lillard, it's hard to count out Jimmy Butler and company this season.
9. Cleveland Cavaliers (+3000)
Cleveland had a disappointing first-round exit last season, but the team added Max Strus and Georges Niang to help fix its shooting issues on the wing. Donovan Mitchell certainly wants to take this team deeper to prove his star status.
10. Philadelphia 76ers (+2700)
The James Harden saga makes the Sixers a hard team to trust in the futures market. If Joel Embiid is healthy, the Sixers will still compete.
11. Sacramento Kings (+5000)
The Kings were the No. 3 seed in the West this season. Can they do that again? They'll need Domantas Sabonis and De'Aaron Fox to lead the way.
12. New York Knicks (+5000)
The Knicks have a ton of continuity from last season's team, and they'll need Jalen Brunson to continue to play like a star to make a deeper run than the second round of the postseason.
13. Dallas Mavericks (+2500)
Does the Kyrie Irving-Luka Doncic backcourt work in the 2023-24 season? Dallas needs it to, as the team is relying on a lot of young players elsewhere.
14. Memphis Grizzlies (+3000)
Ja Morant is suspended for 25 games, which significantly limits the ceiling for the Grizzlies, who have already lost Steven Adams for the season.
15. Oklahoma City Thunder (+8500)
OKC could make the biggest leap of any team this season, as the core of Josh Giddey, Jalen Williams, SGA and Chet Holmgren is extremely exciting.
16. New Orleans Pelicans (+5000)
New Orleans needs Zion Williamson and Brandon Ingram to stay healthy to truly compete for a playoff spot -- and potentially a title -- in the West.
17. Minnesota Timberwolves (+7000)
Anthony Edwards is a rising superstar, and he may be able to lead Minnesota to a top-six seed this season.
18. Brooklyn Nets (+13000)
Can Ben Simmons, Mikal Bridges and company get into the playoff conversation in the East again? The team certainly has the wing defenders to be a tough matchup.
19. Atlanta Hawks (+13000)
Trae Young and the Hawks have a new look without John Collins, but the team has the young wings to step in and potentially make this team better.
20. Indiana Pacers (+30000)
Indiana is a trendy playoff pick in the East, as Tyrese Haliburton and company could be a young team ready to break out.
21. Chicago Bulls (+20000)
Chicago is running back the Zach LaVine-DeMar DeRozan-Nikola Vucevic core after missing the playoffs last season. They'll need to be much better to avoid the play-in tournament.
22. Toronto Raptors (+15000)
The Raptors have a new coach, new point guard and a lot of uncertainty surrounding the future of Pascal Siakam and OG Anunoby. Both players could end up getting moved this season if Toronto struggles.
23. Orlando Magic (+50000)
Paolo Banchero, Franz Wagner and the Magic were really solid in the second half of the season last campaign, making them an interesting fringe playoff squad in the East.
24. San Antonio Spurs (+50000)
Victor Wembanyama may be one of the most exciting players ever, and he could lead a young Spurs team to a much better record than it had in the 2022-23 season.
25. Utah Jazz (+50000)
The Jazz ended up missing the playoffs last season, and they didn't add much this offseason. I'm not sold on Utah taking a step forward in the 2023-24 campaign.
26. Portland Trail Blazers (+50000)
The Blazers may have traded Damian Lillard, but they have a great mix of young talent and veterans that could make them a frisky team in the West.
27. Houston Rockets (+50000)
Houston added Fred VanVleet and Dillon Brooks, a sign that it is looking to compete around the young core of Jalen Green and Jabari Smith Jr.
28. Detroit Pistons (+60000)
Can Cade Cunningham stay healthy and lead the Pistons out of the basement of the East? Detroit fans certainly hope so, but these odds suggest the Pistons will be one of the worst teams in the NBA.
29. Washington Wizards (+100000)
Jordan Poole and the Wizards may end up selling some pieces during this season, but the team is more talented than you'd usually expect for having the NBA's worst odds.
30. Charlotte Hornets (+50000)
The Hornets are an absolute dumpster fire off the court, and while they have talent on the court, the team still doesn't have much in terms of proven players outside of LaMelo Ball.
Game odds refresh periodically and are subject to change.
Find Peter Dewey's NBA betting record here (futures included). You can also follow my daily plays on BetStamp here.