The 2025 NBA playoffs are underway and the eight Eastern and Western Conference first-round series have already yielded enough compelling games to make oddsmakers adjust what they thought before the postseason began.
The Oklahoma City Thunder still have the best odds to win the NBA championship heading into playoff action on Thursday, April 24. Several teams have seen their chances downgraded by the results from Games 1 and 2. Others have emerged as contenders after a successful start to these playoffs. A pecking order is emerging with three clear favorites, a four-pack of Western Conference contenders and a couple serious threats from the Eastern Conference, and at least five obvious longshots.
Here’s an updated power ranking of all 16 NBA playoff teams taking part in a first-round series based on odds to win the 2025 NBA championship:
NBA playoff odds 2025: Power ranking all 16 teams
Favorites
- 1. Oklahoma City Thunder (+170)
- 2. Boston Celtics (+190)
- 3. Cleveland Cavaliers (+550)
The Oklahoma City Thunder continue to be the NBA championship favorite and have seen their odds slightly improve after taking control of the Memphis Grizzlies in historic fashion during their Western Conference first-round series. But the defending champion Boston Celtics remain close behind up 2-0 in their series against the Orlando Magic, and the Cleveland Cavaliers also won both of their home games to start the 2025 NBA playoffs against the Miami Heat.
Contenders
- 4. Los Angeles Lakers (+1600)
- 5. Golden State Warriors (+1800)
- 6. Los Angeles Clippers (+2500)
- 7. Minnesota Timberwolves (+4500)
- T8. New York Knicks (+5000)
- T8. Denver Nuggets (+5000)
- 10. Houston Rockets (+6000)
- 11. Indiana Pacers (+6600)
Nobody’s NBA championship odds have improved more since the 2025 playoffs started than the Minnesota Timberwolves after their Game 1 win over the Los Angeles Lakers, although the Lakers remain at the top of this heap of contenders in the minds of oddsmakers after rebounding in Game 2. The Pacers are also on an upward trajectory in the minds of bettors after taking a 2-0 series lead on the Milwaukee Bucks. Same goes for the Houston Rockets now that they split the first two games of their first-round series with the Golden State Warriors and Jimmy Butler is injured. The New York Knicks and Denver Nuggets each saw their championship odds slide after their respective opening two games of the playoffs.
Longshots
- T12. Detroit Pistons (+25,000)
- T12. Milwaukee Bucks (+25,000)
- T14. Miami Heat (+150,000)
- T14. Orlando Magic (+150,000)
- T14. Memphis Grizzlies (+150,000)
Nobody’s championship odds have declined more than the Memphis Grizzlies and Milwaukee Bucks during the opening two games of the 2025 NBA playoffs. The Grizzlies were already considered a longshot. The Bucks, despite the return of Damian Lillard in Game 2, now fit into that category after falling into a 0-2 hole in their series with the Indiana Pacers.