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The NBA betting season is almost here with the NBA tipping off the 2020-21 season on December 22. If it feels like the offseason went by quickly, that’s because it did; the previous season only wrapped things up on October 11 when the Los Angeles Lakers defeated the Miami Heat for their record-tying 17th NBA title in franchise history. With such a short break between seasons, betting fans have already begun analyzing the latest NBA odds with the hopes of winning real money on the league’s next championship team. To help give you a leg up on the competition, Bovada has put together this NBA betting preview which takes a look at the best bets to win the 2021 NBA championship. 

NBA Championship Favorites

Los Angeles Lakers +240

Coming off last season’s impressive championship run, the Lakers have plenty of reasons for betting on themselves to repeat in 2021. LeBron James will be entering his 18th NBA season at the age of 36, yet he continues to defy the odds with his exceptional play; James averaged 25 points, 10 rebounds and 8 assists per game last season and shows no signs of slowing down any time soon. Despite still working out the details of his next contract, the purple and gold should also have Anthony Davis back in the mix for another title run in 2021. With two of the five best basketball players in the world, the Lakers have strong oddds to win next year’s NBA championship. 

Brooklyn Nets +500

NBA betting fans may be surprised to see the Brooklyn Nets with such great odds to win the 2021 NBA championship; the team was just swept in the first-round of the NBA playoffs, and has finished above .500 just once in the past six seasons. Yet all of those concerns seem to drift away with the news of a healthy Kevin Durant preparing to make his long-awaited Nets debut. With Durant and fellow All-Star Kyrie Irving running the floor for Brooklyn this year, the Nets have a good shot of winning the east and fighting for the Larry O’Brien trophy in the upcoming NBA Finals.   

Milwaukee Bucks +650

With the best record in the NBA over each of the past two seasons, the Milwaukee Bucks have earned their spot among the league’s most elite teams. The Bucks odds of winning 2021 NBA title are tied to reigning back-to-back MVP Giannis Antetokounmpo, but things are looking up in Wisconsin as Milwaukee recently landed point guard Jrue Holiday. The former Pelican is an elite playmaker who can create his own shot, something the Bucks desperately need. With Holiday now in the lineup along with Bucks small forward Khris Middleton, the Bucks may finally have the talent needed to win it all in 2021. 

NBA Championship Contenders 

Boston Celtics +1600

Coming off a loss in last year’s Eastern Conference Finals, the Boston Celtics are already a popular betting pick to win next season’s NBA title. The Celtics have an incredibly talented lineup including power forward Jason Tatum, who just signed a five-year max contract extension worth up to $195 million. Add players like point guard Kemba Walker and small forward Jaylen Brown, and you can see why Boston has such great odds to win right now. The Lakers just tied the Celtic’s all-time mark for championships, so now would be a perfect time for Boston to win another title and take the record back from their cross-country rivals. 

Miami Heat +1600

Despite falling just short in last season’s NBA finals, a young Heat squad took great strides in their development and showed the league that the future is bright in Miami. The Heat have also taken steps to ensure their success for years to come by signing elite big man Bam Adebayo to a five –year max contract extension. Led by the intense play of star forward Jimmy Butler and the veteran leadership of point guard Goran Dragic, you can bet that the Heat will be hungry for redemption when they return to the court next season. 

Golden State Warriors +1600

The Warriors impressive championship run may seem like a lifetime ago, but in reality we are only one season removed from Golden State’s five consecutive appearances in the NBA Finals. While the lineup may have changed a bit over the past couple of seasons, the Warriors still have plenty of talent, including two-time NBA MVP Steph Curry. Golden State’s odds to win the 2021 title got a lot bigger with the news that shooting guard Klay Thompson will miss yet another seasons due to injury, but with Draymond Green, Andrew Wiggins and the third-overall pick from this year’s draft, James Wiseman, the Warriors could end up providing excellent value for NBA championship betting. 

NBA Championship Underdogs 

Dallas Mavericks +2200

The Mavs are a curious betting option when looking at Bovada’s odds to win the 2021 NBA championship. While Dallas has averaged just 33 wins over the past four seasons, the Mavericks are quickly becoming a fan favorite thanks to their young Slovenian point guard, Luka Doncic. Despite being just 21-years old, Doncic has taken the NBA by storm and continues to improve his already elite level of play. Taking the reins from now-retired Mavs legend Dirk Nowitzki, Doncic’s strong ball handling skills and clutch shooting gives him all the makings of a future NBA champion. Combined with talented center Kristaps Porzingis, the Mavs provide great odds and make for an intriguing dark horse to win the 2021 NBA title. 

Phoenix Suns +3300

The Suns have not received much attention from NBA betting circles in recent seasons, and for good reason; Phoenix has gone an entire decade without making it to the postseason, having last accomplished the feat during the 2009-10 season. Despite all of those losing years, the Suns roster for 2021 has the team optimistic about the upcoming season. Phoenix has some great young talent in the form of shooting guard Devin Booker and center Deandre Ayton, and with the acquisition of veteran point guard Chris Paul, the Suns’ huge odds to win the 2021 NBA championship just became a lot more appealing. 

New Orleans Pelicans +7000

For those of you that love betting on massive underdogs in the hopes of scoring a huge payday, look no further than the New Orleans Pelicans. While New Orleans has only made it past the first round of the playoffs twice in the franchise’s 18-year history, things have been a bit different since landing Zion Williamson with the first overall pick in the 2019 NBA draft. Already boasting a supporting cast that includes Lonzo Ball and Brandon Ingram, the Pelicans have been busy this offseason adding shooting guard Eric Bledsoe and center Steven Adams. With such a physical and talented lineup, the Pelicans current odds provide NBA betting fans with incredible value.