Updated NBA Championship Odds After First Quarter of Season

This sprint of an NBA season that's leaving us endlessly entertained is nearly a quarter of the way over as most teams have already played 15 to 18 games in just under a month.

Before you know it the All-Star game will be over and done with, the trade deadline will have zoomed past, Dwight Howard will still be on the Magic and we'll be itching to get into the playoffs.

So, as the season rolls along, and as actual games have been played since I last addressed the issue, who has the best odds in the league at hanging a banner and getting some new jewelry for the start of next season?

Beyond that, who has increased their chance the most of winning a title since the start of the season and whose chances have been flushed down the toilet already?

So, here I have the odds that each team ends up with an NBA championship come season's end (all odds from sportsbook.com) compared to the odds that they had a month ago before the season started (preseason odds in parentheses).

Atlanta Hawks: 40/1 (60/1)

The Atlanta Hawks have been an interesting beast so far this season.

The team that took out the Orlando Magic in the first round of the playoffs last season look like they'll end up being a huge threat in the playoffs, but every third game or so it all falls apart. They start shooting poorly, they don't play defense and they struggle to beat the Bobcats or the Nets.

However, they have only lost to Houston, Chicago, Philly, Indiana and Miami (in a triple-overtime non-thriller) this season and boast a 12-4 record.

They look better than they did coming into the season, but they're still a puzzling team.

Boston Celtics: 30/1 (12/1)

Obviously the Boston Celtics were going to take a drop in odds, I'm just a bit surprised that the drop wasn't larger.

Sure, there's still the likely scenario that they put together their team and start winning again over the next few months, but does anyone honestly believe that this team can win a championship as they look right now?

Rajon Rondo is being forced to carry this team, as it seems that they just can't synch up and play well all together while the entire team is dealing with trade speculation at the same time.

Charlotte Bobcats: 500/1 (300/1)

Even thought they aren't the worst team in the NBA (yet), the Charlotte Bobcats still seem like they have a probability too high of winning a title.

This team is completely without direction when they hit the floor. Their mental and physical leader is an overweight, yet undersized center who is capable of racking up a triple-double but routinely gives little effort.

Still, after seeing them play twice at this point this season, I can't say I was bored watching them. They are perhaps the most entertaining 3-14 team I've ever seen.

Chicago Bulls: 4/1 (6/1)

An uptick in odds seems very fitting for the first-place Chicago Bulls who just so happen to have the best record in the league.

The Bulls are continuing to win, even though they are without Derrick Rose as the team is picking up the slack all around.

With two winning streaks of at least five games already and two of their three losses coming on the second night of a back-to-back, the Bulls have to be happy with their chances at making it to the Finals this season.

Cleveland Cavaliers: 300/1 (300/1)

If the playoffs were to start today, Cleveland would have the eighth seed and would be destined for a matchup with the Chicago Bulls, but they are sitting here with the worst odds of any current playoff team for a title.

Now, obviously the Cavs aren't winning a title, but for outplaying expectations so far this season, I expected at least a little bump up in odds.

However, after watching them get beat by a combined 76 points over the past three games, I can't exactly complain.

Dallas Mavericks: 15/1 (7/1)

The Dallas Mavericks are going to continue to be an interesting team as they grow into more of a team with the continuation of this season.

It seems obvious now that their goal for next year is to come away with a big-name free agent, but that doesn't mean winning a title is on the back-burner for this year.

After early struggles and Lamar Odom playing like he didn't know what a basketball was, let alone how to put it in a hoop, Dallas has rebounded to 10-7 and is sitting in the seventh spot in the West.

They should continue to put up wins as they continue to mesh together and will probably end up with a top-four seed in the West, giving them a nice opportunity at repeating as champs this season.

Denver Nuggets: 20/1 (60/1)

The Denver Nuggets have run out to a 12-5 record, good enough for second place in the Western Conference and are looking like a very good team going forward.

Re-signing Nene really put a centralizing figure on the team (even though he may not be a "star-caliber" player) and the prospect of them gaining Wilson Chandler after the CBA season ends and possibly J.R. Smith if he wants to come back makes them seem even more dangerous.

With the high rate of play from guys like Ty Lawson and Al Harrington, Danilo Gallinari improving and Andre Miller staving off old age, their jump in the odds is completely understandable. 

Detroit Pistons: 500/1 (300/1)

With just four wins so far this season, the Detroit Pistons couldn't look much worse.

They are scoring just 85 points per game, putting them dead last in the league in that category and are failing to get contributions all around, pulling down a league-worst 37 rebounds a game and dropping just 18 assists a game, good for 26th in the league.

Golden State Warriors: 300/1 (200/1)

Sure, there were some whispers and grumbles before the season started about the Warriors potentially being a playoff-crashing team, but it's not surprising that the Warriors are where they are at this point.

The 5-10 Warriors are just ahead of the Hornets for last place in the West while the defense that Mark Jackson said he was planning on making a priority just hasn't panned out.

Scoring is down across the board, so you can't really look at them allowing 99.7 point per game (compared to 105.7 last season) as an improvement because they're still the 27th worst defensive team in the league, same as last season.

Houston Rockets: 100/1 (100/1)

The Houston Rockets are performing right around where we expected them to at this point.

After a few growing pains introducing Samuel Dalembert into the lineup and getting their rookies into the rotation, the Rockets are settled into that spot near the bottom of the playoffs in the West.

Throughout the rest of the season they should battle for that final playoff spot, but if they do make the playoffs it seems that it'll be a quick exit for the boys in red.

Indiana Pacers: 50/1 (60/1)

While there have been some growing pains for the Indiana Pacers who didn't shoot above 40 percent in a game until their fifth of the season, they've grown into what most of us expected them to be.

They're playing great defense, allowing just 89 points a game, while their offense is rounding itself into a nice, increasingly efficient machine, running them to a third-place 11-4 record.

Los Angeles Clippers: 15/1 (15/1)

While it's been fun to watch the Clippers early on in the season, it's been a bit disappointing as well. They seem to have developed a bit of a showboating nature and have been putting on their complaining hats more often than most teams when something doesn't go their way.

Meanwhile, injuries have shaken them up a bit and just them fitting together as a team has been a small struggle early on as they've run to a third place, 9-5 record.

It's still hard to say what this team is going to do, whether they'll actually have a chance at competing for a title this year or just fizzle out in the second round, but as of right now I would guess the latter.

Los Angeles Lakers: 10/1 (5/1)

Obviously the Lakers were going to take a bit of a drop in odds after a very rocky first month of basketball.

They have a weak bench and their offense is nowhere near where we thought it would be. Basically, they're struggling.

However, it makes sense to me that they haven't fallen very far. Early on, the biggest concern was that Kobe Bryant couldn't do Kobe Bryant things anymore, that he couldn't take over games and make them his own. Then, after scoring 40 points in four straight games, it was made obvious that he could.

Now that we know Kobe can do his thing, it just seems like a matter of time until the rest of the starting lineup comes around and starts playing well.

Memphis Grizzlies: 40/1 (30/1)

At this point, this seems about right for the Memphis Grizzlies. They struggled coming out of the gate before reeling off five wins in a row to go from 4-6 to 9-6, running them all the way up to fourth in the Western Conference.

The concern is, however, that they've done this all without Zach Randolph and are seemingly getting used to playing without him.

While it's good that Rudy Gay has gotten back into stride, Marreese Speights has stepped up and Marc Gasol is playing like he was in the playoffs last season, it's concerning when you wonder how they're going to be able to work Randolph back into the lineup.

I still think the Grizzlies could upset some people in the West like they did last year, but I'm not as confident that they could be party crashers in the Western Conference Finals. 

Miami Heat: 7/5 (9/5)

I'm a bit surprised at this one as Miami's odds at a title have gone up since the season started.

Sure, they've blown out opponents and seem to have a few more bench players that can produce compared to last season, but they're sitting in the sixth spot in the East.

It's not that I'm trying to say that Miami is worse than they looked to be at the beginning of the season, it's that the Eastern Conference is better than it looked.

I could very well see Miami getting a top three seed and then get a run for their money from someone like Philly or Indy in the playoffs. And then there's Chicago, who seem able to beat anybody at this point.

Milwaukee Bucks: 200/1 (200/1)

Milwaukee looks to be coming into their own recently ever since Andrew Bynum came back from Australia.

While they are losing in bunches and then winning a few games, they've been playing better and showing off the defense now that Luc Richard Mbah a Moute is back as well. Hell, they beat the Heat last night in part because Mbah a Moute helped pester Chris Bosh and his stone hands into eight turnovers.

Milwaukee could be coming into its own and could make its way back to "Fear the Deer" status that they had two seasons ago.

Minnesota Timberwolves: 100/1 (300/1)

The Minnesota Timberwolves have surprised many and are very fun to watch.

Media darling Ricky Rubio is looking like a future Steve Nash running around out there while showing off an amazing amount of confidence for a 21-year-old and could end up walking away from this season with a Rookie of the Year Award.

Aside from that, Kevin Love is developing into a full-fledged superstar (that win over the Clippers was a defining win on the season for him and the T-Wolves) and the team in general is just playing well together.

New Jersey Nets: 300/1 (50/1)

Ladies and gentlemen, the team that's made the biggest drop in odds since the season started, your New Jersey Nets.

New Jersey, according to oddsmakers, is now six times less likely to win a title compared to just under a month ago. It's funny what happens when teams are playing actual basketball.

The Nets have struggled to put anything together past their top few players, and when I say top few players, I mean Deron Williams.

New Orleans Hornets: 300/1 (200/1)

I suppose there's no real surprise here, as it seems the oddsmakers were expecting them to bottom out sooner rather than later.

Losing Eric Gordon for an extended period of time is really hurting this team. Even with Gordon, they aren't much of a threat.

New York Knicks: 20/1 (20/1)

It seems to me that there's a bit of a wait and see approach with the Knicks at this point for the oddsmakers.

If you were to look at this Knicks team and what they've done over the past month, it seems pretty evident that they aren't a championship-caliber team. They're playing uninspired on defense, lethargic on offense and just haven't been able to play as well as we thought they would have.

However, there's still the possibility that there are some growing pains going on, plus they could end up making a panic trade that actually makes them better, so who knows what could happen with this puzzlingly Knicks team.

Oklahoma City Thunder: 5/1 (5/1)

While the Oklahoma City Thunder have shown that they are the best team in the Western Conference, the oddsmen still didn't bump them up after a hot start.

The second-best team in the league has definitely impressed—despite their embarrassing loss to the Washington Wizards last week—and look most prepared to make a championship run in the Western Conference.

Orlando Magic: 30/1 (30/1)

It makes sense here that the odds wouldn't go up for the Orlando Magic to win the title after their hot start. Obviously, there's still that concern that the Magic could trade Dwight Howard and they could end up fizzling out at the end of the season.

However, don't take that as a message that they don't have a great shot at the title.

It seems to me that Orlando's core team is both young enough and has enough experience together to make a run at the title, which I think is what the team will try to do, rather than trading Howard.

Philadelphia 76ers: 20/1 (100/1)

I figured before the season that the 76ers would be a team looking to run an upset special come playoff time, but I didn't think they would look so good so early.

Philly is still leading the league in point differential, as they're scoring over 11 points more than their opponents on average with a stifling defense and a very good offense.

They are built well with a great leader in Andre Iguodala and skilled pieces around him that makes you think they could rock the boat when the playoffs start up, but I'm still not sold on them being able to make their way through the East into the Finals.

Phoenix Suns: 300/1 (100/1)

I thought that the Suns were given far too much credit coming into the season and it seemed like it would be an extreme long-shot for them to make the playoffs.

After all, they are continuing to rely on Steve Nash to carry them every step of the way, and I've got to say, even though they are coming into this point at 6-9—two-and-a-half games out of the playoffs—I'm still impressed with the old man.

The 37-year-old Nash is leading the league yet again in assists per game and has every possibility of shooting 50-40-90, something he did most recently two seasons ago.

Portland Trail Blazers: 30/1 (60/1)

Many people were high on the Portland Trail Blazers in the preseason, and for good reason.

LaMarcus Aldridge is an absolute stud and the team has a deep, quality bench.

While they've been a bit up-and-down early on, it's easy to see that they're capable of putting together a good run and surprising some people.

Sacramento Kings: 500/1 (300/1)

While the Kings have done well under Keith Smart so far, I expect that to fall off sooner rather than later, and the'll end up near the bottom of the league.

Sacramento is doing pretty much exactly what everyone expected them to do, struggling defensively and doing everything but fighting over who takes the shot on offense, with their 39 percent field goal rate.

San Antonio Spurs: 20/1 (25/1)

As the San Antonio Spurs continue to play well without Manu Ginobili, it makes you wonder if experience could be enough for them to make a run at the title at the end of the season.

Obviously, they're getting their younger players valuable playing time and guys like DeJuan Blair and Tiago Splitter are turning into important players, along with younger guys like Kawhi Leonard and Danny Green.

It wouldn't surprise me to see experience win out over speed and youth this season if San Antonio is able to make it into the playoffs at full health.

Toronto Raptors: 500/1 (300/1)

While the Toronto Raptors started out as a nice team, they've fallen off a bit since Andrea Bargnani got hurt.

The 4-13 Raptors are playing well on defense, but they just haven't been able to put together a consistent offense.

While they don't look like a great team, and this season will be another wash in the end, the Raptors look to be set up well for the future, especially if Andrea Bargnani moves down to power forward when Jonas Valanciunas comes over.

Utah Jazz: 100/1 (200/1)

The Utah Jazz looked like they would just be another young, struggling team early in the season, but an 8-2 stretch over the last 10 games is hard to ignore.

Suddenly, the fifth place Jazz look like a team that could upset one of the top four seeds once the playoffs roll around, and with rumors that Devin Harris is on the trade block, they could be looking to make a move for now, rather than later.

Washington Wizards: 500/1 (200/1)

It was obvious that the Washington WIzards were going to be bad coming into the season. Andray Blatche was their captain, their defense seemed to be very suspect and they didn't run very deep.

However, they completely soared past any terrible expectations we could have had. It took them eight failed attempts at a win before they finally beat the Toronto Raptors.

I thought Washington would at least be somewhat exciting this season, even in that aspect I've been wrong.

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