Thunder open NBA season as heavy repeat favorites

The Oklahoma City Thunder will raise their championship banner on Tuesday night already owning lofty expectations for the 2025-26 NBA season.

The Thunder have held steady as the clear title favorites at sportsbooks, including at +240 at BetMGM. However, there has been significant movement behind the reigning champs since the market opened.

Oklahoma City is only third at the book with 12.1% of the total money wagered on this season's NBA champion. The most money has backed Denver, with the Nuggets shifting from +1600 to +550 while garnering 17.5% of the money. Second are the Los Angeles Lakers with 15.9% while seeing their odds actually lengthen slightly from +1500 to +1600.

The book's biggest liability to open the season are the Golden State Warriors, who have been backed by 9.0% of the money while seeing their odds shorten from +3000 to +2500. Another popular choice has been the Dallas Mavericks, who have drawn 9.3% at +3500.

"The star-studded Lakers, Warriors, Nuggets and Mavericks are all popular picks to win the NBA Championship this year. While the Thunder are receiving support from bettors to go back to back, the team's low odds make them a good outcome for the sportsbook," BetMGM trading strategy manager Halvor Egeland said.

The Thunder are also the favorites at BetMGM, where they are being offered at +245 ahead of the Nuggets (+600), Cleveland Cavaliers (+75), New York Knicks (+900) and Houston Rockets (+1100).

2025-26 NBA TITLE ODDS*

TEAM (OPENING ODDS), (CURRENT ODDS)

Oklahoma City Thunder (+240) (+240)

Denver Nuggets (+1600) (+550)

Cleveland Cavaliers (+700) (+750)

New York Knicks (+700) (+900)

Minnesota Timberwolves (+1400) (+1300)

Houston Rockets (+800) (+1400)

Los Angeles Lakers (+1500) (+1600)

Los Angeles Clippers (+2500) (+1800)

Orlando Magic (+1800) (+1800)

Golden State Warriors (+3000) (+2500)

Detroit Pistons (+6600) (+3300)

Dallas Mavericks (+3500) (+3500)

Philadelphia 76ers (+3500) (+4000)

Atlanta Hawks (+25000) (+4000)

Milwaukee Bucks (+10000) (+5500)

Boston Celtics (+1600) (+6000)

San Antonio Spurs (+2500) (+6600)

Indiana Pacers (+6600) (+10000)

Toronto Raptors (+20000) (+10000)

Memphis Grizzlies (+15000) (+12500)

Miami Heat (+25000) (+20000)

New Orleans Pelicans (+25000) (+30000)

Phoenix Suns (+30000) (+50000)

Sacramento Kings (+30000) (+50000)

Chicago Bulls (+30000) (+50000)

Portland Trail Blazers (+50000) (+50000)

Utah Jazz (+100000) (+100000)

Charlotte Hornets (+50000) (+100000)

Brooklyn Nets (+50000) (+100000)

Washington Wizards (+100000) (+100000)

*BetMGM

The loaded Western Conference sees the Thunder begin the season as the +170 favorites at BetMGM followed by the Nuggets (+375), Minnesota Timberwolves (+700) and the Lakers, Rockets and Los Angeles Clippers each at +900.

The Eastern Conference is considered far more open, especially with the Boston Celtics minus Jayson Tatum and the Indiana Pacers without Tyrese Haliburton due to Achilles injuries. The Cavaliers are the +220 favorite, followed closely by the Knicks at +250. The Orlando Magic hold the third-shortest odds at +550 to win the Eastern Conference, while the Atlanta Hawks are +900.

--Field Level Media