NBA Championship Odds Update: Celtics Remain the Favorite

The 2023-2024 NBA season is well underway and teams have begun to make their cases to win the Larry O'Brien Trophy. Each team in the league has played at least 37 games, so we are approaching the midway point in the season.

Plenty of things can change between now and the playoffs. The trade deadline is right around the corner while injuries and other factors can alter the trajectory of multiple teams in the coming months.

Taking all of that into account, let's look at the NBA Finals odds on FanDuel Sportsbook.

Here is a list of the top 15 teams in odds with a breakdown of the top-five contenders.

Boston Celtics (+290)

The Boston Celtics made a couple of big swings in the offseason, adding Kristaps Porzingis and Jrue Holiday to an already-talented roster. The duo of Jayson Tatum and Jaylen Brown rivals any tandem in the league, and Joe Mazzulla looks more comfortable in his second year coaching the Celtics.

Through their first 40 games, the Celtics are the lone team in the NBA that is top three in offensive and defensive efficiency, per numberFire's metrics. Boston owns the best record at 31-9 and leads the league in plus-minus (+9.8).

The Celtics have yet to lose at home this season, producing a perfect 19-0 record at TD Garden. If the Celtics have any weakness, it's the fact they have tallied an average 12-9 record on the road.

With arguably the deepest rotation in the NBA, the Celtics are also tied for the seventh-lowest turnover rate (12.9%), fifth in true-shooting percentage (60.3%), and they've remained relatively healthy.

The Celtics began the season as favorites to win the NBA title, and they've even improved their odds since the season tipped off.

Denver Nuggets (+420)

As long as Nikola Jokic is on the court for the Denver Nuggets, the reigning champions are going to be threats to repeat. While the Nuggets are the No. 3 seed in the Western Conference, they are tied for the most wins in the conference with the No. 1 seed Minnesota Timberwolves.

Jamal Murray dealt with an injury that sidelined him for 11 straight games earlier this season, but he's been active for 16 consecutive contests for Denver. In that 16-game span, the Nuggets produced a 12-4 record with six of those victories coming by at least 12 points.

The Nuggets are seventh in offensive rating (118.6) and 11th in defensive rating (113.0) through their first 41 games. Following the departure of Bruce Brown Jr. before this season, Denver will need Michael Porter Jr. and Aaron Gordon to continue stepping up more on both ends of the court.

There is room for improvement on the defensive end of the court for the Nuggets, but they don't make many mistakes on the offensive end with a league-best 2.34 assist/turnover ratio.

With inexperienced teams currently pacing the Western Conference in seeding, there is solid value in taking the Nuggets to win back-to-back NBA Finals.

Milwaukee Bucks (+460)

Within the blockbuster trade that sent Holiday to the Portland Trail Blazers (before he was traded to the Celtics), the Milwaukee Bucks landed All-Star Damian Lillard. After a few rough patches early on, the Bucks have settled into the second-best record in the Eastern Conference at 28-12.

Giannis Antetokounmpo remains one of the most dominant players in the league, producing career-best marks in points per game (31.2) and field-goal percentage (60.8%) thus far. The addition of Lillard has aided Milwaukee in posting the second-best offensive rating (121.1) and the best true shooting percentage (61.7%) in the league.

After having a narrow loss to the Celtics early in the season, the Bucks recently notched an impressive 135-102 blowout win over the top seed in the Eastern Conference. Khris Middleton began the year on a strict minutes restriction due to a knee injury, but he has seen his minutes increase recently under first-year head coach Adrian Griffin.

When the Bucks are healthy, they can undoubtedly compete with the best teams around the league. Milwaukee is another team that can benefit from securing home-court advantage in the postseason, amassing a 19-4 record at Fiserv Forum.

Los Angeles Clippers (+1100)

When the Los Angeles Clippers acquired James Harden from the Philadelphia 76ers, the trade was met with plenty of skepticism. It was a slow start for Harden and the Clippers, but the team has seemingly built a strong rapport in recent weeks.

Los Angeles went on a five-game losing streak immediately after trading for Harden. Since the start of December, the Clippers have produced a positive 17-4 record, which included wins over the Nuggets, the Dallas Mavericks, and the Phoenix Suns (twice).

Adding Harden to a team that already had Kawhi Leonard and Paul George has helped the Clippers improve to fifth in offensive efficiency, via numberFire's metrics. Having another All-Star caliber player to generate for himself and others has made Los Angeles a dangerous team in the Western Conference.

Similar to other recent years, the success of the Clippers is going to be largely dependent on Leonard and George remaining healthy. On top of that, the defense leaves a lot to be desired when Harden or Russell Westbrook is on the floor.

Philadelphia 76ers (+1200)

Replacing Doc Rivers with Nick Nurse and allowing Tyrese Maxey to become the starting point guard following the trade of Harden has led the 76ers to the third-best record in the Eastern Conference so far. Not to mention, it helps to have Joel Embiid still playing at an elite level after securing his first NBA MVP award last season.

Upon averaging 33.1 points, 10.2 rebounds, 4.2 assists, and 1.7 blocks per game on 54.8% shooting last season, Embiid is posting career-highs in points (34.9) and assists (5.9) per game again this season. The two-time scoring champ is fifth in the NBA MVP odds on FanDuel Sportsbook, so there's a chance he could go back-to-back years taking home the hardware.

Despite Embiid missing 10 games already, the 76ers are sixth in offensive efficiency and fourth in defensive efficiency, per numberFire's metrics. Philadelphia is also registering the ninth-best assist/turnover ratio (2.03) and the third-best net rating (8.3) in the NBA.

The 76ers haven't made it past the first or second round of the playoffs since 2001. Even though they've fallen short in recent years, Philadelphia is hoping Embiid and an emerging Maxey is enough to combat the other talented teams in the Eastern Conference.

Looking for more NBA betting opportunities? Check out all of the NBA odds at FanDuel Sportsbook.

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The above author is a FanDuel employee and is not eligible to compete in public daily fantasy contests or place sports betting wagers on FanDuel. The advice provided by the author does not necessarily represent the views of FanDuel. Taking the author's advice will not guarantee a successful outcome. You should use your own judgment when participating in daily fantasy contests or placing sports wagers.