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2025 NBA Championship odds, favorites after Draft Round 1: Top 5 odds movers include Knicks, Lakers

We’re through the first round of the NBA Draft, and the 2024-25 league championship odds have been adjusted accordingly at the leading online sportsbooks.

The early offseason trades have, of course, been factored in as well (we see you, Mikal Bridges, in that shiny new blue and orange Knicks jersey).

Below we take a closer look at some of more notable risers and fallers on the sportsbooks’ 2025 NBA championship oddsboards:

Knicks odds to win 2025 NBA Championship up to +850 at DraftKings

New York, which made it to Game 7 of the Eastern Conference semifinals despite juggling a horde of postseason injuries, has made the most noise of any contender early this offseason, acquiring Bridges and striking a five-year deal to retain OG Anunoby.

As a result, their title odds at DraftKings Sportsbook nearly have been trimmed in half, moving from +1600 to +850.

Key playoff contributor Isaiah Hartenstein could depart in free agency, but if fellow bigs Julius Randle and Mitchell Robinson return to full health, the Knicks will be a true title contender.

Odds for Philadelphia 76ers to win in 2025 up to +1100 at Caesars

New York’s Atlantic Division-rival Philadelphia also has climbed on championship oddsboards, moving up from +1600 at Caesars.

The Sixers are in good shape salary cap-wise and could add a significant piece or two this summer to pair with All-Stars Joel Embiid and Tyrese Maxey.

Philly kick-started the upgrades in the draft, snaring talented Duke guard Jared McCain with the 16th-overall pick.

2025 NBA championship odds: Memphis Grizzlies up to +3000 at Caesars

Largely due to Ja Morant’s suspension and injury issues that limited the All-Star guard to only nine games last season, the Grizzlies plummeted to 27 wins last season after notching 56 and 51 victories, respectively, the prior two campaigns.

For 2024-25, though, Memphis appears poised to bounce back in the opposite direction with a return to form for Morant, the first-round addition of two-time-reigning Wooden Award-winner Zach Edey and that they re-sign pending free agent Luke Kennard, as expected.

Making noise in the loaded Western Conference will be tough, but the Grizzlies’ early jump from +5000 to +3000 at Caesars certainly is warranted.

Los Angeles Lakers NBA Championship down to +4000 odds at FanDuel

The Lakers’ move down from +2500 at FanDuel is a bit puzzling on the surface as they ostensibly snared a first-round draft steal in getting Tennessee scorer Dalton Knecht at No. 17 overall.

But the odds trepidation most certainly has to do with the uncertainty over pending free agent LeBron James’ future, as the Lakers are uncertain to land his son Bronny in the second round.

Even if the NBA’s all-time leading scorer stays put and signs a final extension, he’ll hit age 40 this December. And any kind of marked decline pared with L.A.’s limited ability to make other significant moves could very well close the Lakers’ current title window.

2025 NBA championship odds: Houston Rockets down to +12500 at Bet365

Houston is a team on the upswing after adding 19 wins to its victory total and finishing 41-41 last season.

But oddsmakers seemingly aren’t all that impressed with the Rockets’ selection of shooting guard Reed Sheppard with the third-overall pick — at least relative to some of the moves made so far by Houston’s Western Conference competition. 

The Rockets did acquire AJ Griffin from the Atlanta Hawks in exchange for its second-round pick on Thursday, but splashier moves will be needed for the team’s odds to start shifting back in the other direction.

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