NBA Power Rankings Based on Championship Odds (Boston Back on Top Following Christmas)

There are several teams on winning streaks in the NBA, with the Brooklyn Nets and Philadelphia 76ers leading the charge with nine and eight-game streaks themselves.

However, Christmas Day was about the Boston Celtics and their absolute domination of the Milwaukee Bucks. Milwaukee needs an answer on offense with Khris Middleton out, and Boston is starting to rebound after a rough patch in mid-December.

In the Western Conference, Nikola Jokic is making another MVP case with the Denver Nuggets (winners of four straight) holding the No. 1 seed. What can't he do?

Each week, we break down the NBA through the power rankings, relating championship odds to each team's actual spot. Here's where everyone stands heading into the New Year:

NBA Power Rankings Based on NBA Finals Odds

1. Boston Celtics (+360) Last Week: No. 2

Boston dominated the Bucks on Christmas, and Jayson Tatum looks like a legit MVP candidate through the first half of the season.

2. Denver Nuggets (+1400) LW: No. 4

It doesn't seem to matter who is on the floor around Nikola Jokic, he's going to make this Denver team a winner this season.

3. Milwaukee Bucks (+650) LW: No. 1

The Bucks desperately need Khris Middleton back, but they are still one of the best teams in the league right now.

4. Brooklyn Nets (+800) LW: No. 6

The Nets are major movers, going from +1300 to +800 to win the title. Jacque Vaughn has really transformed this team since taking over as head coach.

5. Memphis Grizzlies (+1300) LW: No. 3

Memphis lost to Golden State on Christmas Day, but Desmond Bane's return is a huge lift for this team moving forward.

6. New Orleans Pelicans (+2100) LW: No. 7

The Pelicans are getting wins without Zion Williamson and Brandon Ingram, a welcome sight after they struggled without them in the 2021-22 campaign.

7. Los Angeles Clippers (+1000) LW: No. 8

Here come the Clips! Paul George and company now hold the No. 4 spot in the West heading into Tuesday's action.

8. Cleveland Cavaliers (+2000) LW: No. 5

Cleveland's calling card has been winning at home, but it's dropped a couple home games in a row to the Raptors and Nets.

9. Philadelphia 76ers (+1800) LW: No. 10

The Sixers have won eight straight with James Harden back in the lineup, pushing them into the No. 5 spot in the East.

10. Phoenix Suns (+1400) LW: No. 9

Phoenix is facing an uphill battle with Devin Booker (groin) out of the lineup.

11. Sacramento Kings (+16000) LW: No. 14

Domantas Sabonis' thumb injury is a concern for the Kings, but they have played well so far in the 2022-23 campaign.

12. Dallas Mavericks (+4200) LW: No. 18

Are their holes on this Mavericks team? Absolutely. Can Luka Doncic continue to plug a good amount of them? It certainly seems like it.

13. New York Knicks (+20000) LW: No. 13

No movement this week for the Knicks, who followed an eight-game winning streak by losing three straight.

14. Atlanta Hawks (+6500) LW: No. 14

Atlanta holds the No. 7 spot in the East, but it has a lot of room for growth still this season, especially with Dejounte Murray back in the lineup.

15. Portland Trail Blazers (+8000) LW: No. 15

The Blazers have played a bottom 10 defense this season, which is going to hold them back in the playoff picture.

16. Miami Heat (+4200) LW: No. 12

Miami can't shake the injury bug, and the team is back to ninth in the Eastern Conference because of it.

17. Utah Jazz (+25000) LW: No. 19

The Jazz are talented enough to be a play-in team, but bad losses (like Monday to the Spurs) are likely going to continue as the season progresses.

18. Indiana Pacers (+49000) LW: No. 20

Tyrese Haliburton is keeping the Pacers alive in the Eastern Conference play-in, showing why he's an All-Star candidate.

19. Golden State Warriors (+1300) LW: No. 11

Jordan Poole is attempting to keep the Warriors afloat without Steph Curry, but they need a serious run to get back in contention this season.

20. Minnesota Timberwolves (+12000) LW: No. 16

The Wolves keep volleying back and forth on this list, and they likely will until Karl-Anthony Towns is able to return.

21. Toronto Raptors (+6000) LW: No. 21

Toronto still has good NBA Finals odds, but this team doesn't look like a contender right now, even with Pascal Siakam playing elite basketball.

22. Chicago Bulls (+30000) LW: No. 25

The Bulls put together a three-game win streak to end the week to move ahead of a few teams in this week's rankings.

23. Orlando Magic (+100000) LW: No. 24

The Magic have covered the spread in 10 straight, going 8-2 straight up. They still are near the bottom of the East, but the team's young talent is showing right now.

24. Oklahoma City Thunder (+100000) LW: No. 23

The Thunder are still a player or two away, but they are within striking distance of the play-in still this season.

25. Los Angeles Lakers (+10000) LW: No. 22

With Anthony Davis out, the Lakers' season is hanging in the balance right now. The team has lost four straight to fall to 13th in the West.

26. Washington Wizards (+80000) LW: No. 26

The Wizards have fallen off a cliff since a fast start, ranking in the bottom half in the NBA in several key categories.

27. San Antonio Spurs (+100000) LW: No. 27

The Spurs are tanking but not doing it well, winning five of their last 10 games to move ahead of Houston in the West.

28. Houston Rockets (+100000) LW: No. 27

Houston has made some strides this season, but the team is still bottom five in the league in defensive rating.

29. Charlotte Hornets (+100000) LW: No. 29

Charlotte is 2-8 in its last 10 games, and the team has taken a massive step back from last season.

30. Detroit Pistons (+100000) LW: No. 30

Detroit has the worst record in the NBA, and it should turn its focus to development and the NBA draft.

Find Peter Dewey’s full betting record here.

Game odds refresh periodically and are subject to change.