Sports Odds History is what Basketball Reference uses as their Preseason Odds. Here is a table of the odds on favorite to win the championship along with the second-best odds, ordered by largest gap to smallest:

Season Favorites Next Best Odds Gap Outcome of Favorite
2018-19 Warriors (-168) Celtics (+620) 788 57-25, Lost Finals
2017-18 Warriors (-187) Cavaliers (+515) 702 58-24, Won Finals
2016-17 Warriors (-128) Cavaliers (+385) 513 67-15, Won Finals
1997-98 Bulls (+140) Jazz (+600) 460 62-20, Won Finals
2024-25 Celtics (+300) Knicks (+725) 425 TBD
2000-01 Lakers (+180) Blazers (+600) 420 56-26, Won Finals
1996-97 Bulls (+100) Lakers (+500) 400 69-13, Won Finals
2013-14 Heat (+200) Thunder (+550) 350 54-28, Lost Finals
2001-02 Lakers (+200) Spurs (+500) 300 58-24, Won Finals
2020-21 Lakers (+275) Bucks (+550) 275 42-30, Lost 1st Round
2003-04 Lakers (+140) Spurs (+400) 260 56-26, Lost Finals
1992-93 Bulls (+120) Blazers (+350) 230 57-25, Won Finals
1987-88 Lakers (+120) Celtics (+350) 230 62-20, Won Finals
2011-12 Heat (+225) Lakers (+450) 225 46-20, Won Finals
2015-16 Cavaliers (+280) Warriors (+480) 200 57-25, Won Finals
1989-90 Pistons (+300) Suns (+500) 200 59-23, Won Finals
1986-87 Celtics (+160) Rockets (+350) 190 59-23, Lost Finals
2021-22 Nets (+240) Lakers (+400) 160 44-38, Lost 1st Round
1991-92 Bulls (+250) Blazers (+400) 150 67-15, Won Finals
2002-03 Lakers (+180) Kings (+300) 120 50-32, Lost 2nd Round
2022-23 Celtics (+500) Warriors (+600) 100 57-25, Lost ECF
2005-06 Spurs (+250) Heat (+350) 100 63-19, Lost 2nd Round
2004-05 Spurs (+400) Kings (+500) 100 59-23, Won Finals
1994-95 Suns (+350) 4 Teams (+450) 100 59-23, Lost 2nd Round
1993-94 Knicks (+200) Suns (+300) 100 57-25, Lost Finals
1990-91 Pistons (+350) Lakers (+450) 100 50-32, Lost ECF
1985-86 Lakers (+160) Celtics (+250) 90 62-20, Lost WCF
2014-15 Cavaliers (+275) Spurs (+350) 75 53-29, Lost Finals
2010-11 Heat (+175) Lakers (+250) 75 58-24, Lost Finals
2009-10 Lakers (+225) Cavaliers (+350) 75 57-25, Won Finals
2012-13 Heat (+225) Lakers (+275) 50 66-16, Won Finals
2006-07 Mavericks (+400) Spurs (+450) 50 67-15, Lost 1st Round
1999-00 Blazers (+350) Lakers (+400) 50 59-23, Lost WCF
1998-99 Lakers (+300) Jazz (+350) 50 31-19, Lost 2nd Round
1995-96 Bulls (+350) Magic (+400) 50 72-10, Won Finals
1988-89 Lakers (+350) Pistons (+400) 50 57-25, Lost Finals
2019-20 Clippers (+425) Lakers (+450) 25 49-23, Lost 2nd Round
2023-24 Celtics (+450) Nuggets (+450) 0 64-18, Won Finals / 57-25, Lost 2nd Round
2008-09 Lakers (+350) Celtics (+350) 0 65-17, Won Finals / 62-20, Lost 2nd Round
2007-08 Spurs (+450) Mavericks (+450) 0 56-26, Lost WCF / 51-31, Lost 1st Round
1984-85 Lakers (+200) Celtics (+200) 0 62-20, Won Finals / 63-19, Lost Finals

Some extra notes:

  • The odds on favorite ended up in the finals 28/44 times (counting the 4 co-favorites twice), winning 19 and losing 9.
  • None missed the post-season, and only 4 favorites lost in the 1st round of the playoffs
  • The 2021-22 Nets had the lowest winning percentage of a favorite at .537 (44-38) and are the only favorite to not win a single playoff game, making them statistically the most disappointing favorite of the last 41 years.
  • The upcoming season with the 2nd best odds Knicks at +725 would be the lowest odds of the team leading “the field”
  • The 2017-2019 Warriors are the only teams to be minus favorites, making them the most foregone conclusions in history, and it’s not really close.
  • The 2022-23 Celtics at +500 were the “worst” favorites in the last 41 years

What stands out to you?