When the NBA season started, very few people expected the Golden State Warriors to claim their fourth title in eight years. After all, the Warriors missed the playoffs two years in a row.
Stephen Curry, Klay Thompson, and Draymond Green battled through injuries and cynicism all year, and they were rewarded with another banner after taking down Boston in Game 6.
Prior to the season, the FiveThirtyEight RAPTOR model had the Warriors at just 0.1% to win the NBA Finals, and yet here they are. Sports bettors recognized Golden State’s potential, especially early in the playoffs. Because of that, most sportsbooks are experiencing an NBA Finals hangover after paying out these plus-money tickets.
Let’s break down the Warriors’ championship run and the betting ramifications that came from it.
Warriors Win, Sportsbooks Pay
Golden State’s success came with a big hit to sportsbooks like BetMGM. “The Warriors winning the NBA Championship and Stephen Curry winning the NBA Finals MVP were bad outcomes for the sportsbook. The Warriors and Curry both received strong support from bettors throughout the playoffs,” said Jason Scott, VP of Trading at BetMGM.
The Warriors saw 16.8 percent of bets to win the NBA championship. That was second-most, as the Suns marginally claimed more betting tickets. However, the Warriors had the highest betting handle (30%) according to BetMGM. Not only that, but bettors were also quick to bet Curry to claim his first NBA Finals MVP. Per BetMGM, the superstar point guard led this category in betting tickets (17.7%) and handle (34.1%) by a wide margin.
A Look At Golden State’s Odds
When a preseason darkhorse claims the NBA championship, it’s fun to document their odds over time. Take a look at how Golden State’s odds altered at different stages through their historic run.
- Open: +1200
- November: +900
- December: +600
- January: +450
- February: +450
- March: +450
- 1st Round: +1000
- 2nd Round: +300
- Conference Finals: +120
- NBA Finals: -160
Golden State was plagued by injuries at the start of the postseason, which moved its odds to +1000. Stephen Curry missed several weeks with a foot injury leading up to the playoffs. His status was unclear, and it remained to be seen what version of the superstar player would show up in the first round.
Curry quickly erased those concerns with a solid performance in Round 1 against Denver. The Warriors moved past MVP Nikola Jokic and the Nuggets in five games, and Curry thrived along the way. Golden State’s odds promptly dropped from +1000 to +300. The rest is history, as the Warriors took care of Memphis and Dallas in five games before outlasting Boston in the NBA Finals.
Big Payout On The Warriors
BetMGM reported one Warriors’ NBA Championship bet that stung more than others. An individual put down $125,000 on Golden State to claim the title. The bet was placed prior to the Conference Finals matchup against Dallas, and it ended up paying $450,000 upon the Warriors completing the feat.
It’s worth noting that Golden State opens with the best odds to win the 2022-23 NBA Championship. Golden State checks in at +550 odds, while Boston (+650) and Brooklyn (+700) are next in line.
