Denver Nuggets the early favorites to defend title in 2024

Updated June 15, 2023
Updated June 15, 2023By Dean Etheridge

The Denver Nuggets were crowned 2022/23 NBA Champions on Monday night. But already, the NBA futures markets for the 2023/24 season are live, and the Nuggets are the favorites. There will now be a target on their backs, and there will already be plenty of people placing their 2024 NBA Championship wagers on the Nuggets. So, will they be up for the challenge?   

Denver Nuggets Early Favorites To Win 2024 Nba Championship

The 2022/23 NBA Champions have only just been crowned, and they’re probably not even finished celebrating yet. But even with the new season around four months away, attention behind the scenes will have turned towards defending their championship.

Already the betting for the 2023/24 season has gone live, it had before the 2023 finals had concluded. And if the bookmakers are right, the pressure will be on the Nuggets and their head coach Michael Malone, as the champs are the favorites to defend their NBA Championship title and win again in 2024. 

Betting to win the 2024 NBA Championships

2024 NBA Championship Winner BettingBetOnlineBetUSBovada
Denver Nuggets+400+400+400
Boston Celtics+650+650+650
Milwaukee Bucks+800+800+800
Dallas Mavericks+900+900+900
Phoenix Suns+900+900+900
Golden State Warriors+1200+1200+1200
LA Lakers+1400+1400+1400
Philadelphia 76ers+1400+1400+1400
Los Angeles Clippers+1600+1600+1600
Memphis Grizzlies+1800+1800+1800
New Orleans Pelicans+2000+2000+2000
Miami Heat+2200+2200+2200
Cleveland Cavaliers+2500+2500+2500
New York Knicks+3300+3300+3300
Sacramento Kings+3300+3300+3300
Minnesota Timberwolves+4000+4000+4000
Atlanta Hawks+5500+5500+5500
Toronto Raptors+6600+6600+6600
Brooklyn Nets+8500+8500+8500

The top NBA finals betting sites favored the Nuggets throughout the 2023 playoffs. And as you can see from our NBA odds table, the best NBA finals betting sites have made the Denver Nuggets their favorites to win again in 2024. 

The Nuggets are just +400 to defend the title they won for the first time on Monday night. Does that sound a little short? Following the Nuggets is the Boston Celtics at +650, with the Milwaukee Bucks at +800 making up the three favorites. Behind the leading trio, comes the Dallas Mavericks and Phoenix Suns, both at +900.

The odds on our NBA betting table come from the best NBA betting sites. You can read more about them on our online sportsbook reviews page.

2023 NBA Draft

Obviously, with the NBA Draft to come at the end of the month, that market will no doubt see changes. Plenty of trades are expected, and with prospects like Victor Wembanyama waiting to be picked up, the Draft could well shake the market up.

But most of the main favorites have the majority of their rosters in place, and will only be trading around the fringes. Yes, we may well see that big-style Kevin Durant trade take place that shakes up the market, but there shouldn’t be too much happening that turns the market on its head. 

Check back next week to see how well that last statement has aged! Now, let’s take a look at some of the early favorites.

Are the Denver Nuggets a value bet to repeat at +400?

As we mentioned earlier in the piece, the odds of just +400 on the Denver Nuggets to repeat their NBA Championship win seems a little short. The Nuggets had never won a national championship title before, so would it be wise to back them at +400 to do it all again?

Denver NuggetsTo win 2024 NBA Championship
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Yes, if they’re in this same form next year at the playoff stage, then they would be worth picking. But a lot can change in that time.

Throughout the 2022/23 season, NBA fans and armchair critics kept on expecting the Nuggets to fall away and level off. Occasionally, it’s nice to see that team go and prove everybody wrong, and that’s exactly what the Nuggets did.

And with Michael Malone in charge, and Nikola Jokic running the show out on the court, they will always be a dangerous side to face. But we’re not convinced they are worth the risk at +400. Wait for the season to start, and when the Nuggets hit that inevitable lean spell, then get on them.

Do we keep faith with the Boston Celtics?

After their near miss in the 2022 NBA finals, plenty seemed to think that 2023 was going to be Boston’s year. Throughout nearly the whole NBA season, the best NBA bookmakers had them as their favorites.

Yes, 2022 was a great effort, and the Celtics can rightly feel proud of their run to the finals. But in 2023, to get to the playoffs as one of the teams to beat, and then put up such a poor showing against Miami in the Eastern Conference finals must have been heartbreaking for their fans, not to mention those who had bet on them to win the finals. 

And then after going 3-0 down to Miami, and fighting back to take the Eastern Conference to a deciding match, it must have been agonizing for their fans to watch them lose the seventh match by 19 points at TD Garden. So, we have to ask – can we trust them to come good again in 2024?

Who are the early value Picks?

As we’ve seen with the Denver Nuggets this year, it’s not always the betting favorites that win. And at this early stage of proceedings, it will be foolish to go big on anybody, as too much can change.  

But for anybody looking for early 2024 winners picks, there are some bargains out there, with teams whose odds you can only see going in one direction. 

For starters, the losing finalists Miami Heat are +2200. Under the guidance of Erik Spoelstra, they’ve made it to the final in 2020 and 2023. Should they not be shorter? 

And another team whose odds may shorten when the season gets going is the Cleveland Guardians (+2500). The Guardians are another team expected to improve, but have yet to step up. Could this be the season?

Miami HeatTo win 2024 NBA Championship
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Cleveland Guardians To win 2024 NBA Championship
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About the Author

Dean Etheridge
Dean Etheridge

Dean is primarily a fan of English football who regularly attends games, and combining his hobby with his job, he is now a full-time sports betting writer. Rather than going down the educational route into sports journalism, Dean learned his trade by writing for his English football betting website since 2009, where he now boasts nearly 15 years of experience. After writing about football daily for years, Dean has taken the skills he learned and now uses them to great effect writing for numerous affiliate sites across the internet. A general all-around sports enthusiast with a passion for English football and cricket, Dean is also well able to turn his hand to writing about golf, tennis, F1, boxing, snooker, darts, and North American sports. Combining his extensive knowledge and experience with British humor and wit, Dean has developed into a trusted voice within the sports betting industry.

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