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Updated 2022 NBA Title Odds: Bulls, Heat Championship Odds Shift Entering Free Agency

Avery Yang

The first day of NBA free agency has ended and the league’s landscape is already shifting in the East.

The Heat had the splashiest day after reportedly signing former All-Star guard Kyle Lowry and defensive stalwart PJ Tucker while also re-upping with restricted free agent Duncan Robinson and All-NBA forward Jimmy Butler.

The Bulls, too, nabbed headlines after reportedly acquiring Lonzo Ball in a sign-and-trade and picking up free agent Alex Caruso.

At DraftKings, both teams’ odds to win the 2022 NBA Championship shortened considerably. Miami moved from +3500 to +2700 while Chicago’s line shortened from 100/1 to 80/1.

They were the only two teams at the sportsbook to have their futures odds change on Day 1 of free agency.

2022 NBA Title Odds

Odds as of Aug. 3 via DraftKings

Team Odds
Nets +200
Lakers +400
Bucks +950
Warriors +1000
Suns +1600
Jazz +1600
76ers +1600
Clippers +1800
Nuggets +2000
Mavericks +2800
Heat +2800
Hawks +3500
Celtics +5000
Trail Blazers +5000
Raptors +8000
Pelicans +8000
Bulls +8000
Knicks +10000
Pacers +10000
Grizzlies +10000
Hornets +10000
Wizards +15000
Timberwolves +25000
Spurs +25000
Kings +25000
Pistons +50000
Cavaliers +50000
Rockets +50000
Thunder +50000
Magic +50000

FanDuel shortened Miami’s odds by more than half — the Heat are now 16/1 to win it all after having been as long as 35/1 hours before the start of free agency.

The Bulls saw their odds shorten from 120/1 to 60/1 at the sportsbook.

Generally, odds shuffled all over the place at FanDuel. The Los Angeles Lakers’ odds shortened from +440 to +370; the Milwaukee Bucks’ line shortened from +850 to +800; the Golden State Warriors’ line shortened from +1300 to +1100; and the Denver Nuggets are now +1700 to win it all after having been +2400.

The only teams at the sportsbook that saw their odds worsen were the Philadelphia 76ers (16/1 to 18/1) and Atlanta Hawks (35/1 to 37/1). The Hawks’ odds dropped even amid news that Trae Young officially re-signed his five-year maximum extension worth $207 million.

Teams like the Los Angeles Clippers (+1300), Phoenix Suns (+1300) and Dallas Mavericks (+3000) saw their lines stay the same at FanDuel.

Below is a list of other major transactions that have reportedly occurred on the first day of open business:

  • Chris Paul has agreed to re-sign with the Suns to a four-year contract that could be worth up to $120 million.
  • Shai Gilgeous-Alexander agreed to a five-year, $172 million max extension with the Oklahoma City Thunder.
  • Derrick Rose agreed to re-sign with the New York Knicks with a three-year, $43 million contract.
  • Tim Hardaway Jr. agreed to a four-year, $74 million deal with the Mavericks.
  • Evan Fournier agreed to a four-year, up to $78 million deal with the Knicks.
  • Blake Griffin agreed to re-sign with the Brooklyn Nets for a season.
  • Richaun Holmes agreed to a four-year deal with the Sacramento Kings that could be worth as much as $55 million.
  • Jarrett Allen agreed to re-sign with the Cleveland Cavaliers on a five-year, $100 million deal.
  • Two former Lakers reportedly returned to the team. Both Dwight Howard and Trevor Ariza agreed to one-year deals.
  • Jeff Green agreed to a two-year, $10 million deal with the Denver Nuggets.
  • Mike Conley agreed to re-sign with the Utah Jazz on a three-year, $72.5 million contract.
  • Devonte’ Graham agreed to a four-year, $47 million sign-and-trade with the New Orleans Pelicans.
  • TJ McConnell agreed to a four-year, $35 million deal with the Indiana Pacers.
  • Doug McDermott agreed to a three-year, $42 million contract with the San Antonio Spurs.
  • JaVale McGee agreed to a one-year, $5 million deal with the Suns.
  • Nicolas Batum agreed to re-sign with the Clippers for two years.
  • Nerlens Noel agreed to a three-year, $32 million deal with the Knicks.
  • Cameron Payne agreed to a three-year, $19 million contract with the Suns.
  • Will Barton agreed to a two-year, $32 million deal with the Nuggets.
  • Alec Burks agreed to a three-year, $30 million contract with the Knicks.
  • Boban Marjanovic agreed to sign with the Mavericks.
  • Reggie Bullock agreed to a three-year, $30.5 million deal with the Mavericks

We will continue to update this story as players negotiate throughout the free agency period.