NBA championship odds: 76ers still a relative long shot to win the title

Indisputable fact: The Philadelphia 76ers played their best basketball of the season over the final three weeks of 2022.

Also an indisputable fact: Philadelphia’s NBA championship odds are barely better today than in late November, when the team was struggling to keep its head above .500.

Not only that, but the Sixers — who are 13-5 over their last 18 games — currently are looking up at more teams on the NBA title odds board than they were six weeks ago.

How is this possible? Because two squads that are duking it out at the top of the Western Conference standings have been winning with even more regularity in recent weeks than Philadelphia.

Both those squads zoomed past the Sixers in odds to win the 2022-23 NBA Finals.

Additionally, an Atlantic Division rival that currently is riding the NBA’s longest winning streak of the season has seen its championship odds cut in half.

With most of the league closing in on the halfway point of the regular season, here’s an updated look at where things stand in the NBA championship odds market.

Odds updated as of 11 a.m. ET on Jan. 3.

When we last examined NBA title futures, the 76ers had capped a three-game winning streak with a 104-101 home win over the Atlanta Hawks on Nov. 28.

At that moment, Philadelphia was 12-9 on the season, and its odds to win the NBA title at BetMGM were sitting at +1800 — tied with the Cleveland Cavaliers and Memphis Grizzlies for seventh in the sportsbook’s futures market.

Doc Rivers’ team then proceeded to go 0-for-3 on a road trip to Cleveland, Memphis and Houston, dropping the Sixers back to .500 at 12-12.

Four days later, Philadelphia returned home and knocked off LeBron James and the Los Angeles Lakers in overtime. It was the first win in what turned out to be a perfect 7-0 homestand.

After tacking on a Christmas Day victory over the Knicks in New York, the Sixers had a season-best eight-game winning streak.

Despite going 2-2 its ensuing four games — including Monday’s 120-111 home triumph over the New Orleans Pelicans — Philadelphia is one of only eight teams in the NBA that has won at least 60 percent of its games.

Making that reality all the more impressive: The team’s starting backcourt — point guard Tyrese Maxey and shooting guard James Harden — missed significant time with injuries. Maxey alone returned just last week after sitting out 18 games with a broken foot.

Also, superstart center Joel Embiid — the NBA’s second-leading scoring at 33.5 points per game — has missed multiple contests with various ailments.

Perhaps those injuries have raised a red flag in the NBA championship betting community. Because three of the eight teams with better championship odds than Philadelphia — the Los Angeles Clippers (21-17), Phoenix (20-18) and Golden State (19-18) — have worse records than the Sixers.

» READ MORE: Joel Embiid isn’t among the NBA MVP favorites. What gives?

Also impacting Philadelphia’s place in the NBA championship odds pecking order: the stellar pay of the Grizzlies, Denver Nuggets and Brooklyn Nets.

Entering Monday, Denver (24-13) held a one-game lead over Memphis and New Orleans (both 23-13) in the Western Conference. That lead shrunk to a half-game Monday, when the Nuggets were sniped 124-111 at Minnesota.

Still, Denver — which is 11-3 since Dec. 8 — has seen its NBA title odds shrink from +1800 in late November to +1300.

That puts the Nuggets in a tie with Memphis for the seventh-shortest NBA title odds.

Like Denver, the Grizzlies are running hot. They went 10-4 in December, then started 2023 with a blowout home win over Sacramento on New Year’s Day.

As dominant as Denver and Memphis have been of late, they look like the second coming of the Orlando Magic compared with Brooklyn.

The Nets ran their winning streak to 12 in a row with Tuesday’s 139-103 thrashing of the San Antonio Spurs. Now 25-12, Brooklyn is just one game back of Boston in the race for the NBA’s best record.

As a result of their sizzling run, Kevin Durant, Kyrie Irving and Co. also have bolted up the NBA championship odds board into the third position.

The Nets, who were the +1600 sixth choice at BetMGM in late November, have dipped to +800 at BetMGM — which is just off their preseason price of +700.

The Celtics (26-11) are still holding onto the top spot at BetMGM at +350 (down from +500 six weeks ago).

Sandwiched between Boston and Brooklyn: The Milwaukee Bucks (23-13), whose +500 NBA title odds are unchanged from late November.

Which brings us to an interesting twist with regard to the current 2022-23 NBA championship odds market: The top three squads on BetMGM’s futures board — Boston, Milwaukee and Brooklyn — all hail from the Eastern Conference.

The next five teams — the Clippers, Suns, Nuggets, Warriors and Grizzlies — all reside in the Western Conference.

Next in line: Philadelphia, which is shooting for its first NBA Finals appearance since 2000 and first championship since 1983.

Whether or not the 76ers get that elusive title remains to be seen. However, if you’re a believer in the 2022-23 Sixers, now is probably the right time to back up your conviction with a wager on Philly to win it all.

With odds of +1600, the Sixers certainly have more value than most of the teams in front of them on BetMGM’s betting board.

» READ MORE: Full sports betting coverage from The Philadelphia Inquirer

The Inquirer is not an online gambling operator, or a gambling site. We provide this information about sports betting for entertainment purposes only.