NBA Playoffs 2011: New Odds and Projections for Each Team's Championship Hopes

The Los Angeles Lakers are out of the 2011 NBA Playoffs.

So now who's the favorite to win it all?

Zach Randolph has the Grizzlies riding high, Dirk Nowitzki has the Mavericks playing with utter confidence, Dwyane Wade is propelling Miami and Derrick Rose is living up to his recent MVP credential.

There will be a new NBA champion crowned at the coronation of this season, so let's see how these seven teams stack up.

7. Atlanta Hawks

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ATLANTA, GA - MAY 06: Josh Smith #5 of the Atlanta Hawks drives to the basket against Luol Deng #9 of the Chicago Bulls in Game Three of the Eastern Conference Semifinals in the 2011 NBA Playoffs at Phillips Arena on May 6, 2011 in Atlanta, Georgia. NOT

Odds: 35-1

The Atlanta Hawks did the unthinkable when they advanced past the Orlando Magic in the first round, but the Derrick Rose led Chicago Bulls present a much different challenge.

Without Kirk Hinrich (hamstring) shelved, the team will continue to rely on heavy minutes from point guard Jeff Teague, who has responded well thus far.

The team has been most hurt by Josh Smith's maddeningly inconsistent production, and if he continues to take ill-advised jump shots, the Hawks will be shooting for next season once again.

6. Oklahoma City Thunder

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OKLAHOMA CITY, OK - MAY 03: Forward Kevin Durant #35 of the Oklahoma City Thunder and Zach Randolph #50 of the Memphis Grizzlies in Game Two of the Western Conference Semifinals in the 2011 NBA Playoffs on May 3, 2011 at Oklahoma City Arena in Oklahoma C

Odds: 25-1

Kevin Durant and the youthful Oklahoma City Thunder have enjoyed a nice turnaround from just a few seasons ago, but General Manager Sam Presti still has some work to be done with this team.

The addition of Kendrick Perkins provided key elements of toughness and leadership that they had lacked prior to the trade, but the subtraction of a reliable third offensive option (Jeff Green) is starting to hurt them dearly.

Even if the Thunder manage to get past the surging Grizzlies, they don't match up very well with Dallas' deep attack. 

5. Boston Celtics

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BOSTON, MA - MAY 07: Kevin Garnett #5 of the Boston Celtics gets ready before Game Three of the Eastern Conference Semifinals in the 2011 NBA Playoffs on May 7, 2011 at the TD Garden in Boston, Massachusetts. NOTE TO USER: User expressly acknowledges and

Odds: 20-1

After the series against the Knicks ended in four-game sweep, this team looked like the Celtics of 2009-10 that made another appearance in the Finals.

But now, this just isn't the same squad. Rondo's recently dislocated left elbow puts a serious cramp in their style, even if he is able to manage the injury and play with one hand.

Kevin Garnett looks like a man who is sometimes thinking about retirement. Although he came out with a commanding effort in Game 3 in Boston, he was more MIA in South Beach than a retired Morty Seinfeld in Del Boca Vista.

They need to win three of the next four games against Miami. I don't see it happening. 

4. Chicago Bulls

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ATLANTA, GA - MAY 06: Derrick Rose #1 of the Chicago Bulls runs the ball up the court against the Atlanta Hawks in Game Three of the Eastern Conference Semifinals in the 2011 NBA Playoffs at Phillips Arena on May 6, 2011 in Atlanta, Georgia. NOTE TO USE

Odds: 10-1

Derrick Rose has been an incredible story to monitor all season, but just how much longer can a one-man show continue to support the infrastructure?

Carlos Boozer is playing ineffectively through torn toe ligaments, and it's taken all of Rose's effort in every one of their postseason wins to pull it out.

I have no idea how they'd beat either Boston or Miami in the next round, and regardless of who advances from the Western Conference, it would present an issue. 

3. Memphis Grizzlies

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OKLAHOMA CITY, OK - MAY 03: Forward Zach Randolph #50 of the Memphis Grizzlies reacts against the Oklahoma City Thunder in Game Two of the Western Conference Semifinals in the 2011 NBA Playoffs on May 3, 2011 at Oklahoma City Arena in Oklahoma City, Okla

Odds: 10-1

Unexpected isn't adequate enough to express the Memphis postseason success. When the team lost superstar Rudy Gay to a season-ending shoulder injury, many simply discounted the Grizzlies to finish outside of postseason contention.

But Zach Randolph didn't give up on anything. He, along with veteran Tony Allen, have propelled this team to unfamiliar territory. After entering these playoffs without ever having won a game in the franchise's postseason history, the Grizzlies now have a real chance of advancing to the Western Conference Finals.

These boys are not backing down from anyone. 

2. Dallas Mavericks

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DALLAS, TX - MAY 06: Forward Dirk Nowitzki #41 of the Dallas Mavericks reacts after making a three-point shot against the Los Angeles Lakers in Game Three of the Western Conference Semifinals during the 2011 NBA Playoffs on May 6, 2011 at American Airlin

Odds: 5-1

Dirk Nowitzki and the Dallas Mavericks absolutely took it to the two-time defending champion Los Angeles Lakers with a four-game sweep and now will look to make their first Finals appearance since 2006.

Arguably the deepest team still in contention, the Dallas bench was a critical factor in propelling them past the Lakers. And as the postseason progresses, it will continue to be an even more valuable asset.

This team is humble and hungry, and with the amount of talent that they possess, that could prove to be a lethal combination. 

1. Miami Heat

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BOSTON, MA - MAY 07: Dwyane Wade #3 and LeBron James #6 of the Miami Heat walk on the court near the end of the game against the Boston Celtics in Game Three of the Eastern Conference Semifinals in the 2011 NBA Playoffs on May 7, 2011 at the TD Garden in

Odds: 8-5

This is Miami's time to shine.

If they can advance past Boston, there's no doubt that they'd be the best team remaining in the East. And with the Lakers now out of the picture, LeBron could really begin to silence some of his critics if he ascertained the championship ring.

The key for Miami will be elite play from D-Wade and LeBron, who need to be the top two players on the court every night for this team to reach its maximum potential.