Can the Denver Nuggets go back-to-back?

Just after winning the first NBA Finals title in franchise history, the Nuggets are the early favorites to win the 2024 NBA Finals. Denver is +500 at BetMGM to win consecutive titles after closing out the Miami Heat in five games on Tuesday night.

It’s easy to see why Denver is the favorite after getting the top seed in the West during the regular season and going 16-4 in the playoffs. The Nuggets will return their entire starting five with Finals MVP Nikola Jokic, Jamal Murray, Aaron Gordon, Michael Porter Jr. and Kentavious Caldwell-Pope all back in the fold.

The Boston Celtics spent most of the 2022-23 season as the favorites to win the NBA title before losing to the Heat in the Eastern Conference finals. The Celtics are the No. 2 favorites for the 2024 title at +550, just ahead of the Milwaukee Bucks at +600. Like Denver, both Boston and Milwaukee return all of their key contributors for next season, though the Bucks will have a new coach. Mike Budenholzer was fired after the Bucks lost to the Heat in the first round and the team has hired Raptors assistant Adrian Griffin to take over.

The Phoenix Suns are the No. 4 favorite at +850 and look like a team to stay away from until there’s some roster clarity. While we know the Suns will have Kevin Durant and Devin Booker on the roster next season, it’s not certain who else will be joining them. Chris Paul’s status with the team is in limbo ahead of his impending contract option and the Suns could be inclined to trade DeAndre Ayton to reshape the roster.

The Suns have to make a decision on Paul’s contract by June 28. It’s a good idea to wait until at least then to bet on the Suns.

A trio of teams at +1200

If you consider the Nuggets, Celtics, Bucks and Suns as the top four contenders for the 2024 title, the next group of teams includes the Dallas Mavericks, Golden State Warriors and Los Angeles Lakers at +1200.

We can see the arguments for the Warriors and Lakers at those odds. We’re not sure about Dallas. The Mavericks don’t have much in the way of trade assets outside of the No. 10 pick to improve the roster and could even take a step back if Kyrie Irving decides he doesn’t want to stay in Dallas. The trade for Irving was a disaster as Dallas’ attempt to pair Luka Doncic with a second star backfired and forced the team to tank in the final days of the season to secure a top-10 pick.

The Lakers could be an intriguing destination for Paul if he doesn’t stay with the Suns. Paul hasn’t won an NBA title in his illustrious career and could see teaming with LeBron James and Anthony Davis as his best chance to win.

The Warriors need to figure out how to retain Draymond Green ahead of the NBA’s new salary cap rules. Thanks to Jordan Poole’s contract extension, Stephen Curry, Klay Thompson and Poole are set to make $120 million combined in 2023-24 while Andrew Wiggins will make over $24 million next season.

Miami Heat at +2000

The Heat are the No. 4 team in the East at +2000 after their improbable run through the play-in to the Finals. Miami got the No. 8 seed after losing to Atlanta and beating Chicago in the play-in tournament and beat the Bucks, Knicks and Celtics to make the Finals.

Barring a big trade, Miami looks set to run it back with largely the same team in 2023-24. Tyler Herro missed most of the playoffs this spring, and the Heat could look to move Kyle Lowry ahead of the final season of his deal that pays him nearly $30 million in 2023-24.

Early NBA Finals odds

• Denver Nuggets (+500)

• Boston Celtics (+550)

• Milwaukee Bucks (+600)

• Phoenix Suns (+850)

• Dallas Mavericks (+1200)

• Golden State Warriors (+1200)

• Los Angeles Lakers (+1200)

• Los Angeles Clippers (+1400)

• Philadelphia 76ers (+1400)

• Memphis Grizzlies (+2000)

• Miami Heat (+2000)

• Cleveland Cavaliers (+2500)

• Sacramento Kings (+3000)

• New Orleans Pelicans (+3500)

• New York Knicks (+4000)

• Atlanta Hawks (+6600)

• Minnesota Timberwolves (+6600)

• Oklahoma City Thunder (+6600)

• Toronto Raptors (+8000)

• Brooklyn Nets (+10000)

• Houston Rockets (+10000)

• Portland Trail Blazers (+10000)

• Chicago Bulls (+12500)

• Indiana Pacers (+15000)

• Orlando Magic (+15000)

• Utah Jazz (+15000)

• Washington Wizards (+15000)

• San Antonio Spurs (+20000)

• Charlotte Hornets (+50000)

• Detroit Pistons (+50000)