The Denver Nuggets won their first NBA Championship on Monday night, and Vegas loves their chances of defending their title next season.

Following their title-clinching 94-89 Game 5 win over Miami, the Nuggets have been listed as +475 favorites by Caesars Sportsbook to lift the Larry O’Brien trophy in 2024.

Only three other teams have single-digit odds: the Celtics (+575), the Bucks (+700) and the Suns (+850).

The Lakers (+1100), Warriors (+1100) and Sixers (+1200) are next on the list.

This postseason, Denver firmly shut down the notion that it was merely a strong regular season team and won the NBA Finals in five games after posting the best record (53-29) in the West.

But the bookmakers were still skeptical of Nikola Jokic and Co. entering these playoffs, as they were given just the sixth-best odds of winning the title despite their strong regular season.

Jokic in particular silenced any doubts over his postseason capabilities, as he became the first player in NBA history to lead the playoffs in total points, assists and rebounds.

The Nuggets will largely return their core next season, with Jokic, Jamal Murray, Michael Porter Jr., Aaron Gordon and Kentavious Caldwell-Pope all under contract.

Sixth man Bruce Brown has a player option for $6.8million but it looks likely that the underpaid forward will command a deal elsewhere that’s too big for Denver to match.

Regardless, with Jokic and Murray locked down for at least the next two years (Murray will be an unrestricted free agent in 2025), the Nuggets will like their chances of snagging another ring – especially with the Western Conference full of question marks.

The Grizzlies are bracing for a long suspension of Ja Morant, the Suns appear headed towards a summer of turnover after a disappointing second round exit, and the Lakers’ immediate future is uncertain after LeBron James floated retirement. 

The next NBA season will tip off in October.