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Nuggets open as early 2024 betting favorites to repeat as NBA champs

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James Foglio
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James Foglio Sports Editor

James is a Basketball Insiders contributor. He earned his bachelor's degree in English and Creative Writing at Southern New Hampshire University. James enjoys watching sports and helping gamblers win money.

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Updated13 Jun 2023

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Denver Nuggets open as early 2024 betting favorites to repeat as NBA champs

The Denver Nuggets (+400) have opened as early betting favorites to repeat as NBA champs in the 2023-24 season. According to the BetOnline sportsbook, the Boston Celtics (+650) have second-shortest odds to win next season’s title, followed by the Milwaukee Bucks (+800) and Dallas Mavericks (+900). Check out the full list below.

Early 2024 NBA Championship Odds: Denver Nuggets (+400) Betting Favorites

NBA Team Odds Play
Denver Nuggets +400 Denver Nuggets open as early 2024 betting favorites to repeat as NBA champs
Boston Celtics +650 Denver Nuggets open as early 2024 betting favorites to repeat as NBA champs
Milwaukee Bucks +800 Denver Nuggets open as early 2024 betting favorites to repeat as NBA champs
Dallas Mavericks +900 Denver Nuggets open as early 2024 betting favorites to repeat as NBA champs
Phoenix Suns +900 BetOnline
Golden State Warriors +1200 Denver Nuggets open as early 2024 betting favorites to repeat as NBA champs
Los Angeles Lakers +1400 Denver Nuggets open as early 2024 betting favorites to repeat as NBA champs
Philadelphia 76ers +1400 BetOnline
Los Angeles Clippers +1600 Denver Nuggets open as early 2024 betting favorites to repeat as NBA champs
Memphis Grizzlies +1800 Denver Nuggets open as early 2024 betting favorites to repeat as NBA champs
New Orleans Pelicans +2000 Denver Nuggets open as early 2024 betting favorites to repeat as NBA champions
Miami Heat +2200 Denver Nuggets open as early 2024 betting favorites to repeat as NBA champions
Cleveland Cavaliers  +2500 Denver Nuggets open as early 2024 betting favorites to repeat as NBA champions
New York Knicks +3300 NBA Sportsbooks Release Odds on Next Player to Score 50+ Points in Playoff Game
Sacramento Kings +3300 NBA Sportsbooks Release Odds on Next Player to Score 50+ Points in Playoff Game
Minnesota Timberwolves +4000 NBA Sportsbooks Release Odds on Next Player to Score 50+ Points in Playoff Game
Atlanta Hawks +5500 NBA Sportsbooks Release Odds on Next Player to Score 50+ Points in Playoff Game
Toronto Raptors +6600 BetOnline
Brooklyn Nets +8500 BetOnline
Oklahoma City Thunder +8500 NBA Sportsbooks Release Odds on Next Player to Score 50+ Points in Playoff Game
Houston Rockets +10000 NBA Sportsbooks Release Odds on Next Player to Score 50+ Points in Playoff Game
Portland Trail Blazers +10000 BetOnline
San Antonio Spurs +10000 NBA Sportsbooks Release Odds on Next Player to Score 50+ Points in Playoff Game
Chicago Bulls +12500 Championship
Utah Jazz +12500 NBA
Indiana Pacers +15000 BetOnline
Orlando Magic +15000 BetOnline
Washington Wizards +20000 NBA Sportsbooks Release Odds on Next Player to Score 50+ Points in Playoff Game
Charlotte Hornets +30000 NBA Sportsbooks Release Odds on Next Player to Score 50+ Points in Playoff Game
Detroit Pistons +40000 NBA Sportsbooks Release Odds on Next Player to Score 50+ Points in Playoff Game

Denver Nuggets become third team in 10 years to win first NBA championship, joining the Cleveland Cavaliers and Toronto Raptors

Moreover, the Denver Nuggets celebrated their first championship in their 47-year history. Prior to Denver’s 94-89 Game 5 win over the Miami Heat, a BetMGM gambler had placed a $25,000 wager on the Nuggets to win by 6-10 points at +400 odds. He or she lost this bet by just one point.

This is the first time that bettors have seen five different NBA champions in five years since 1977-81 (2019 Toronto Raptors, 2020 Los Angeles Lakers, 2021 Milwaukee Bucks, 2022 Golden State Warriors, and 2023 Denver Nuggets). A few sportsbooks show the Bucks and Nuggets with the same odds to win the 2024 championship.

Additionally, the Nuggets are now the ninth team to lose only one game in the conference finals and NBA Finals combined to win the championship. Denver is also the first team since the 2017 Golden State Warriors to have just one loss over the course of both playoff series in the same postseason.

The Nuggets join recent NBA championship teams of the past 10 years to either win their first title or end a championship drought: 2015 Warriors (first in 40 years), 2016 Cavs (first ever), 2019 Raptors (first ever), and 2021 Bucks (first in 50 years).

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