The Oklahoma City Thunder are opening the 2025â26 NBA season in rare company.
ESPN reports that after capturing their first championship in franchise history last season, the defending champions enter their title defense as heavy favorites to repeat â listed at 2-to-1 odds at ESPN BET, the shortest preseason title odds since the 2017â18 Golden State Warriors.
The Thunder begin their campaign Tuesday, October 21, against the Houston Rockets, which will rely on a jumbo lineup to try to thwart the Thunder, and oddsmakers expect another dominant run.
âTheyâre head and shoulders above everyone,â veteran NBA oddsmaker Jeff Sherman told ESPN. âTheyâll be favored in just about every game unless something unforeseen happens.â
Oklahoma City Thunder in Rare Air
According to Statmuse, Oklahoma City was an underdog in only four games all of last season and posted a 3-1 record in those games, rolling to 68 regular season wins and a Finals victory over the Indiana Pacers. The continuity around Shai Gilgeous-Alexander, Chet Holmgren, and Jalen Williams has sportsbooks expecting a similar trajectory, and perhaps the start of a modern dynasty.
Oddsmakers also point to Oklahoma Cityâs balance of youth and experience as a reason for the historic betting confidence. The Thunder feature multiple All-Stars entering their prime, a top-five defense, and one of the NBAâs most efficient offenses. After a 68-win championship season, sportsbooks see little reason to doubt a repeat.
Behind the Thunder, the Cleveland Cavaliers and Denver Nuggets share the second-best odds at +650, according to ESPN BET. The New York Knicks sit at +1000, while the Houston Rockets and Los Angeles Lakers round out the top tier at +1500.
Bettors Still Backing the Nuggets
Despite Oklahoma Cityâs commanding position, early bettors are flocking to the Nuggets, according to ESPN. Nearly half of all money wagered on this yearâs title winner at ESPN BET has been placed on Denver. The Nuggets have also drawn the most total bets and money at BetMGM, moving their odds from around 15-to-1 earlier in the offseason down to +650.
After a strong summer of roster moves and a healthy Nikola Jokic, Denver is widely viewed as the biggest obstacle to a Thunder repeat. Jokic is also the betting favorite to win MVP at +215 at ESPN BET, followed closely by Gilgeous-Alexander at +250 and Los Angeles Lakers star Luka Doncic at +440.
What It Means
Oklahoma Cityâs meteoric rise from a rebuilding franchise to the leagueâs betting powerhouse is one of the most remarkable arcs in modern NBA history. The Thunderâs championship core is young, intact, and deep, a combination that has oddsmakers and analysts expecting sustained dominance.
The Thunderâs front office also spent the offseason strengthening the rotation around its young core, extending Jalen Williams and bringing back key contributors from last yearâs Finals run. The Thunder also extended young guards Cason Wallace and Nikola Topic. With one of the leagueâs deepest benches and an MVP-caliber star in Shai Gilgeous-Alexander, Oklahoma Cityâs odds reflect more than hype; they mirror a franchise built for sustained dominance.
But with historic expectations comes new pressure. Every game will test whether Oklahoma City can maintain its edge as the NBAâs next potential dynasty.
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