Joel Embiid was the betting favorite to win NBA MVP, and a pretty significant favorite at that. Embiid's time at the top spot lasted two weeks.

The NBA MVP betting market is fascinating. By this point in the season we usually have a good idea who is going to win. This year, it's practically a dead heat.

Nikola Jokic has regained his spot as the betting favorite. He's +110 odds at BetMGM. Embiid isn't far behind at +125. Giannis Antetokounmpo has a great argument but at +450 odds, it seems he's on the outside.

This has turned out to be one of the best NBA MVP races in recent history, with seven games to go for each of the top two contenders.

Nikola Jokic is the MVP favorite again

Embiid took over as the favorite on March 16. Jokic's Denver Nuggets had been in a short slump, which opened the door for Embiid. Embiid's odds went all the way to -200, before settling back to -150 on Monday. That's when Jokic and Embiid were supposed to face off in Denver. It was supposed to be Jokic's chance to even up the head-to-head meetings, after Embiid outplayed him in January and his Philadelphia 76ers won.

But Embiid didn't play in Denver. He was ruled out with a calf injury. That might be smart for Embiid and the 76ers shortly before the playoffs start, but it clearly didn't help his MVP case.

Jokic had 25 points, 17 rebounds and 12 assists as the Nuggets won, 116-111. It would have been much worse for Embiid to play Monday and be outplayed by Jokic than sitting out. But as Embiid sat, Jokic put up a triple double and the odds flipped.

The good news for Embiid is there's still time for the odds to flip again.

Who will win NBA MVP?

The biggest factor working against Jokic is that he has won two straight MVPs. Don't underestimate voter fatigue. Or East Coast bias.

Embiid has a good case for MVP. He leads the NBA in scoring. He has been a force all season and he did outplay Jokic in the one meeting. The gap in the odds isn't wide. One signature performance from Embiid in the final seven games could flip the odds yet again. The question is how many games Embiid will play down the stretch. Philadelphia has an eye on the playoffs and Embiid has a long injury history.

Voters can make a reasonable case for any of the three players still in the MVP mix (Antetokounmpo is putting up monster numbers for the team with the best record in the NBA, which should be more relevant than it has been), and the race does seem like a toss-up with a couple weeks to go.

The odds change this week might not be the last one. This is a heck of an MVP race.