With six different NBA champions over the last six years, it’s clear no franchise has grasped the reins as the latest NBA dynasty. Oddsmaker think the newly crowned champion Celtics could change that as Boston is opening as a favourite to repeat in 2025, while the Denver Nuggets and Dallas Mavericks round out the top three.

Let’s take a look at the top contenders to win the Larry O’Brien Trophy in 2025.

2024-25 NBA championship odds

Boston Celtics (+300)

The Boston Celtics were opening-night title favourites in each of the last two season before they finally won their NBA-record 18th championship in franchise history, breaking a tie with the L.A. Lakers. The Celtics absolutely steamrolled through the league this year, finishing the regular season with an NBA-best 64-18 record before losing just three games in the playoffs.

But, what does history say about Boston’s chance to repeat? There hasn’t been a repeat NBA champion since the Golden State Warriors in 2017 and 2018 and no solo opening night favourite has won since the 2018 Warriors (the Celtics were actually co-favourites with the Denver Nuggets last year).

Still, Boston’s core is locked up longterm, or soon to be locked up, and with the exception of Jrue Holiday, the big-name players are all 28 or younger. Jayson Tatum, who finished two rebounds shy of a triple-double in Game 5, is poised to sign a longterm contract this off-season and Finals MVP Jaylen Brown is already locked in through the 2028-29 season. Two-time NBA champion Jrue Holiday just signed a four-year deal in April and Kristaps Porzingis is under contract for the next two seasons.

Other contenders

Denver Nuggets (+750)

Denver will be Boston’s biggest competition from the West. Three-time NBA MVP Nikola Jokic was poised to bring the Nuggets back to the NBA Finals for a second consecutive season, but Jamal Murray‘s calf injury and the complete disappearance of Michael Porter Jr. in the West Finals tanked the team.

With Jokic and a healthy Murray, Denver will be a dangerous team next season. Moving on from Porter could open up a spot to add a significant depth piece and re-signing Kentavious Caldwell-Pope will solidify a championship calibre starting lineup. Nuggets vs. Celtics in 2025 would be a dream NBA Finals matchup.

Dallas Mavericks (+900)

Dallas entered the playoffs as a No. 5 seed in the West and went on an impressive run to knock off the Clippers, Thunder and Timberwolves before falling flat against the Celtics. Superstar Luka Doncic will once again lead the team in 2024-25 and the only notable pending UFA is Derrick Jones, who averaged 9.1 points per game in the playoffs.

It seems like a stretch to think the Mavs make another run to the Finals next season. The lack of supporting cast around Doncic was exposed against Boston and Kyrie Irving clearly isn’t the answer. It was a great run this year, but without major upgrades, this isn’t a championship team.

Milwaukee Bucks (+1000)

The Milwaukee Bucks are just two years removed from beating the Celtics in the NBA Finals, but a key piece of that championship team, Holiday, just won a ring in Boston. Milwaukee, however, will remain a contender for years with Giannis Antetokounmpo leading the charge. At just 29-years-old, the Greek Freak is already considered one of the best power forwards of all-time. Despite being injured at the end of the year and into the playoffs, he’s coming off a season that saw him average the second-most points per game during the regular season (30.4) and set a new career high in assists per game (6.5) and field goal percentage (.611).

The Bucks also have an elite option in eight-time NBA All-Star Damian Lillard, who just played his first season in Milwaukee after spending the first 11 years of his career in Portland. Lillard’s stats took a dip last season, but that’s to be expected as he went from the No. 1 option in Portland to No. 2 behind Antetokounmpo. There’s still a lot of game left in Lillard and combining him with a healthy Antetokounmpo in the playoffs is a matchup nightmare for opposing coaches.

Last 10 NBA champions

NBA championship betting trends

• Over the last 10 years, there has only been one sweep (2018) and one seven-game series (2016) in the NBA Finals.
• Four of the last six NBA Finals have ended in six games.
• The No. 1 overall playoff seed has won 52 of 78 all-time NBA Finals’ (.667).
• The 1969 Boston Celtics (No. 4) and the 1995 Houston Rockets (No. 6) are the only No. 4 seeds or higher to win the NBA Finals.