NBA Playoffs 2025 odds and favourites

***UPDATE*** The Oklahoma City Thunder have won the 2025 NBA Championship, with 103-91 Game 7 win sealing a 4-3 series victory over the Indiana Pacers.

Ladbrokes previews the 2025 NBA Playoffs, taking a look at the favourites' odds to win the NBA Finals and which players to keep an eye on for prop bets.

Ladbrokes currently has the Oklahoma City Thunder as the favourites to win the NBA finals at odds of 2/5, with the 2024/25 NBA MVP Shai Gilgeous-Alexander likely a huge factor in that.

The Indiana Pacers are the underdogs at 2/1, but Tyrese Haliburton and company are relishing the challenge, currently leading 2-1 heading into Game 4.

The playoffs have thrown up some big surprises, with the LA Lakers, Cleveland Cavaliers and Boston Celtics among the contenders that have been eliminated, and the Pacers might be about to pull off the biggest shock of all.

There are 30 teams in the NBA, which is split into two conferences - East and West - with 15 teams each. The playoff format can be confusing for those new to the sport!

The top six teams in each conference with the best regular season records qualify automatically for the playoffs.

The 7th-10th placed teams compete against each other in the Play-In, with two from each conference then joining the playoffs. So each conference sends eight teams to the postseason, with sixteen competing in total.

The number 1 seed plays the 8th seed, 2nd plays 7th, 3rd plays 6th and 4th plays 5th. Each playoff round is best of seven games.

The winner of the Western Conference and the winner of the Eastern Conference then meet in the NBA Finals. Now let's have a look at the main contenders.

Odds: 2/5

Key Player: Shai Gilgeous-Alexander

The Oklahoma City Thunder are the current favourites to win the NBA Finals at odds of 2/5. They comfortably secured the #1 seed in the Western Conference, finishing with an impressive record of 68-14.

MVP Shai Gilgeous-Alexander has led the charge for the Thunder with a remarkable 32.7 points per game, the highest in the NBA this season. With Chet Holmgren anchoring the paint, they’re playing fearless basketball and will take some stopping.

After sweeping the Memphis Grizzlies 4-0 in the first round, the Thunder beat the Denver Nuggets 4-3 in a thrilling series, before advancing to the NBA Finals by beating the Minnesota Timberwolves 4-1.

Odds: 2/1

Key Player: Tyrese Haliburton

After being swept by the Celtics in last year's Conference Finals, the Pacers went one better this year by defeating the New York Knicks in 6 games to advance to the NBA Finals. They showed impressive poise against the much-hyped Knicks, having also knocked out the #1 seed Cleveland Cavaliers, so the Pacers have nothing to fear.

Indiana has had contributions from across the court. Pascal Siakam is remarkably consistent, but Tyrese Haliburton is the fulcrum of this team and rises to the big occasion. He showed it again with his dramatic game-tying score in Game 1 against the Knicks, which the Pacers went on to win in overtime, a crucial victory which set the tone for the series.

View the latest NBA odds here.

All odds and markets are correct as of the date of publication.