NBA Odds

NBA Power Rankings Based on Championship Odds (Who Has Preseason Value to Win NBA Finals?)

Peter Dewey
Denver Nuggets guard Jamal Murray (27).
Denver Nuggets guard Jamal Murray (27). / Kim Klement-USA TODAY Sports

NBA training camp is here, and were less than a month away from the start of the 2022-23 regular season.

There have been some key injuries that have already come out, with Keldon Johnson (San Antonio Spurs), Shai Gilgeous-Alexander (Oklahoma City Thunder) and Robert Williams III (Boston Celtics) all banged up entering the season. Williams is expected to miss 8-12 weeks, the most of any of the three players.

In addition to that, Chicago Bulls guard Lonzo Ball offered a concerning update on the knee injury he suffered last season, and it looks like he's still a long way away from returning.

As each NBA team rounds in form, and as the status of more players gets revealed, we will be able to have a better grasp on the futures market ahead of the 2022-23 season. I already explained why the Denver Nuggets are a sneaky bet to win it all this season at +2000 odds.

But now, it's time for our weekly Power Rankings. Where does each team stand as camp opens? Here's the latest:

1. Golden State Warriors (+700)

Golden State Warriors guard Klay Thompson.
Golden State Warriors guard Klay Thompson. / Kyle Terada-USA TODAY Sports

The Warriors deserve the top spot after winning the NBA title last season.

2. Milwaukee Bucks (+650)

The Bucks could take advantage of the Boston Celtics' messy offseason and move to favorites in the East.

3. Boston Celtics (+550)

Boston Celtics head coach Ime Udoka.
Boston Celtics head coach Ime Udoka. / Kyle Terada-USA TODAY Sports

Boston's odds dropped from +500 to +550 following Ime Udoka's season-long suspension.

4. Los Angeles Clippers (+700)

The addition of John Wall, if healthy, could push the Clippers over the top in the Western Conference.

5. Brooklyn Nets (+700)

Ben Simmons, Kyrie Irving and Kevin Durant is about as good of a trio as you can ask for. Can they all stay on the court when it counts is the question.

6. Denver Nuggets (+2000)

Denver Nuggets center Nikola Jokic.
Denver Nuggets center Nikola Jokic. / Isaiah J. Downing-USA TODAY Sports

My early value pick to win the NBA Finals, the Nuggets finally have a formidable supporting cast around Nikola Jokic again.

7. Philadelphia 76ers (+1600)

The Sixers have the talent to make a playoff run, but Doc Rivers, James Harden and Joel Embiid all have a history of coming up short in the postseason...

8. Miami Heat (+1800)

The Heat didn't make many changes this offseason, but Jimmy Butler made a big change in his hairstyle.

9. Phoenix Suns (+1000)

The Suns reportedly are looking to trade Jae Crowder, and Deandre Ayton sounded less-than thrilled to be back in Phoenix at media day.

10. Dallas Mavericks (+2700)

The Mavs would be much higher had they kept, or replaced, Jalen Brunson, but the team is relying on its internal guards to improve in the 2022-23 season.

11. Cleveland Cavaliers (+3300)

Cleveland Cavaliers guard Darius Garland.
Cleveland Cavaliers guard Darius Garland. / David Richard-USA TODAY Sports

There's a lot to like about this young Cavs team, and they could leap from play-in to playoff lock this season.

12. Memphis Grizzlies (+2400)

Ja Morant and company are looking to duplicating a great 2021-22 season, but the West certainly has improved with the Clippers, Lakers, Pelicans and Nuggets getting healthy.

13. Minnesota Timberwolves (+3300)

The Rudy Gobert move was a gamble for the future, but it should make the Wolves much better defensively in present.

14. Los Angeles Lakers (+2500)

Los Angeles Lakers forward LeBron James.
Los Angeles Lakers forward LeBron James. / Gary A. Vasquez-USA TODAY Sports

Whenever you have LeBron James, you're going to be a threat to win the title. It's that simple.

15. New Orleans Pelicans (+5000)

Zion Williamson looks in great shape, and that's a great sign for the Pelicans, who are looking to make the leap from play-in to playoff lock in the 2022-23 season.

16. Atlanta Hawks (+5000)

I love the addition of Dejounte Murray for Atlanta, and it certainly is in the playoff conversation in the East.

17. Toronto Raptors (+4200)

Toronto Raptors guard Fred VanVleet.
Toronto Raptors guard Fred VanVleet. / John E. Sokolowski-USA TODAY Sports

The Raptors may be young, but Vegas believes in them, moving their odds from +4500 to +4200 in the last week.

18. Portland Trail Blazers (+16000)

Damian Lillard's return should make the Blazers much more fun to watch this season.

19. Chicago Bulls (+5000)

The Bulls may be in trouble, as they were 24-23 last year without Lonzo Ball, and he apparently still can't run or jump in his recovery from a knee injury.

20. New York Knicks (+16000)

RJ Barrett thinks the Knicks are going to shock the world this season. Knicks fans would settle with a play-in berth.

21. Charlotte Hornets (+17000)

The more I look at this Hornets team, the more I wonder if they're going to regress to a top-five pick. Even head coach Steve Clifford is concerned...

22. Washington Wizards (+24000)

Can I interest you in a full season of Bradley Beal and Kristaps Porzingis? No? OK, moving on...

23. Sacramento Kings (+49000)

Sacramento Kings center Domantas Sabonis.
Sacramento Kings center Domantas Sabonis. / Kelley L Cox-USA TODAY Sports

The Kings could make a push for a play-in spot with the Spurs and Jazz both in tank mode.

24. Detroit Pistons (+50000)

It's probably in Detroit's better interest to get a top pick, but Cade Cunningham may be too good for the Pistons to land there this season.

25. Orlando Magic (+50000)

Orlando Magic forward Paolo Banchero.
Orlando Magic forward Paolo Banchero. / Kim Klement-USA TODAY Sports

The Paolo Banchero era is underway in Orlando, and time will tell if he's the superstar this franchise desperately needs.

26. Utah Jazz (+50000)

The Jazz are about as far from contending as you could be, and they likely will trade more vets by the end of the 2022-23 season.

27. Indiana Pacers (+50000)

Indiana Pacers center Myles Turner.
Indiana Pacers center Myles Turner. / Wendell Cruz-USA TODAY Sports

Maybe the Pacers get out to a hot start and keep Buddy Hield and Myles Turner, but I'm not counting on it.

28. Oklahoma City Thunder (+50000)

If SGA's injury lingers into the season, we're going to see another full-blown tank from OKC.

29. San Antonio Spurs (+50000)

I think we all should just take Gregg Popovich's advice ahead of the 2022-23 season.

30. Houston Rockets (+50000)

I don't want to knock the Rockets by putting them here, but there is just so much youth and a lot of unknowns on this roster.

Find Peter Dewey’s full betting record here.