This article is part of our NBA Picks series.

The 2022 NBA season wrapped up just over a month ago with the Golden State Warriors topping the Boston Celtics in six games take home the NBA title. Looking ahead to the 2022-23 campaign, the oddsmakers view each of last year’s Finals representatives as strong bets to repeat.

The Celtics are currently installed as favorites, with their 2023 NBA championship odds sitting at +450 at the DraftKings Sportsbook. The Warriors are tied with the Clippers at +600 for the lowest Western Conference title odds. Close behind are the Milwaukee Bucks (+700), Phoenix Suns (+850) and Los Angeles Lakers (+1100).

In addition to championship odds, check out the 2023 NBA MVP odds, NBA Rookie of the Year odds and NBA futures bets page.

2022-23 NBA Championship Odds

Odds via DraftKings Sportsbook as of July 27

NBA Championship Odds: Best Bets

Milwaukee Bucks (+700)

The Bucks won the title two seasons ago and may have been well on their way to a repeat had Khris Middleton not gone down at the worst possible time in Round 1 against the Bulls. Even without Middleton, the Bucks pushed the eventual Eastern Conference champion Boston Celtics to a hard-fought, seven-game series. Milwaukee returns virtually all of its key contributors, headlined by two-time NBA MVP, Giannis Antetokounmpo. In terms of Eastern Conference title odds, the Bucks are +310 at DraftKings. The value on DraftKings is solid at +700, as the odds if you were to sign up with BetMGM Bonus Code and wager on BetMGM are +650.

Miami Heat (+1200)

In order to even reach the Finals, Miami would have to get by Milwaukee and Boston, but there’s reason to believe the Heat could be a value bet at this point in the offseason. As currently constructed, the Heat are a bona fide title contender – they just took Boston to a Game 7 this past season – but they’re rumored to be a potential landing spot for Kevin Durant or Donovan Mitchell. If Miami is able to acquire one of those players without giving up Jimmy Butler and Bam Adebayo, the Heat could quickly rise to favorite status in the Eastern Conference.

NBA Championship Odds: Favorite Longshot Bet

New Orleans Pelicans (+3500)

The Pelicans are a longshot for a reason, but there’s no denying that this is a roster stocked with high-end talent. The return of Zion Williamson will provide a massive boost for a franchise that got a taste of the playoffs this past season. The current roster may not be quite good enough to truly contend for a title, but if you’re betting the Pelicans at this number, you’re hoping that they push their chips in on a Kevin Durant trade. Is it unlikely? Absolutely. But is it completely out of the question? I don’t think so.