Updated NBA Championship Odds After First Round (Celtics Set as Overwhelming Favorites)

We had some overlap between the first and second rounds of the NBA Playoffs. Game 1 between the Denver Nuggets and Minnesota Timberwolves took place before Game 7 between the Orlando Magic and Cleveland Cavaliers.

But now that the Cavs have advanced with a Game 7 victory, the entire field for the second round has been officially set. That means it's time to take a look at the latest odds to win the 2024 NBA Championship.

NBA Championship Odds

Celtics Still Set as Overwhelming Favorites

The Boston Celtics, after getting past the Miami Heat, as still set as overwhelming favorites to win the NBA Championship at +110 odds. If you translate those odds to implied probability, there's a 47.62% chance the Celtics win it all.

As you might expect in a series between the team with the shortest odds and the team with the long championship odds, the Celtics are expected to dominate the Cavaliers in Round 2.

Even the defending champions, the Denver Nuggets, are well behind the Celtics at +480. They have fallen 1-0 to the Minnesota Timberwolves and if they fail to come back and win the series, the Celtics' path to the title will become even more clear.

Pacers and Cavaliers Given Little Chance to Win NBA Championship

There is a significant gap in the odds between the top six teams and the bottom two. The Knicks have the sixth-best odds to win the title at +1000, but then the next team on the list, the Indiana Pacers, is listed at +6500. The Cavs are behind them at +7000.

That gives the Pacers and Cavaliers a 1.52% and 1.41% chance to win the championship respectively. Despite being one of the final eight teams still in contention, oddsmakers are giving them almost no shot to win it all.

Odds refresh periodically and are subject to change.