The champagne was flowing in the Denver Nuggets locker room on Monday night after they defeated the Miami Heat to win the NBA Championship. But before Nikola Jokic and company could even wake up from their hangover the 2024 NBA title odds were already out. The Nuggets are favored to repeat as NBA Champions next year, with several other contenders close behind. Let’s take a look at the NBA futures bets and odds for the 2023-24 title.
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2024 NBA Title Odds: Markets Favor Nuggets for Repeat
Per DraftKings,
Denver Nuggets +500
Boston Celtics +550
Milwaukee Bucks +650
Phoenix Suns +850
Golden State Warriors +1200
Los Angeles Lakers +1200
Dallas Mavericks +1300
Philadelphia 76ers +1300
Los Angeles Clippers +1500
Miami Heat +1800
The Nuggets are the favorites, but close behind are the Boston Celtics and Milwaukee Bucks in the Eastern Conference. The Phoenix Suns, with new head coach Frank Vogel and a full year of Kevin Durant and Devin Booker together are the biggest threat to the Nuggets in the West, at least according to the betting market.
2024 NBA Title Betting Value
Before last year’s NBA Finals even began, the Golden State Warriors and Boston Celtics were favored to win the following year’s title. By the end of their six-game series, the books were split on which one of them would win next year’s title. Both owned odds of 6-1 to win as a repeat matchup seemed possible.
The Denver Nuggets came in at 15-1.
Currently, the Denver Nuggets own 5-1 odds to win next year’s title. While I like their roster construction, buying a ticket on them now would be buying high. Instead, look at the 10-1 to 30-1 range, which is where the Nuggets were at this time last year. Some teams that stand out include the Philadelphia 76ers at 13-1, especially now that they’ve moved on from Doc Rivers, and the Sacramento Kings at 30-1.
The Nuggets may end up as repeat champions, but that’s not something you should bet on now. You’re likely to find a book offering something longer than 5-1 later, sometime before the season starts.
