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2023 NBA Finals: Betting trends for Miami Heat-Denver Nuggets series - ESPN

For the first time since the 1976 ABA/NBA merger, both NBA Finals participants entered the playoffs with at least 10-1 odds to win it all. Neither the Denver Nuggets nor the Miami Heat were among the top five favorites entering the playoffs. Now they are the final two teams standing.

Odds from Caesars Sportsbook. Historic series odds from SportsOddsHistory.com.

Miami Heat (+300) vs. Denver Nuggets (-380)

Miami entered the playoffs with 150-1 odds, the longest odds for any team to reach the championship game for any NBA/NFL/NHL/MLB team in the last 30 seasons. The last time a team reached the NBA Finals with even 100-1 odds was the 1981 Houston Rockets. Only the Nets, Hawks and Timberwolves entered the 2023 postseason with longer title odds.

The Heat odds dipped to 250-1 following their play-in loss to the Atlanta Hawks. They already cashed 100-1 tickets to win the East at that point. But since they clinched the 8 seed, they became the first team since the 1999 New York Knicks to win three straight series upsets as an underdog en route to the NBA Finals. The last team to win all four playoff series as an underdog was the 1995 Houston Rockets.

Their +750 odds against the Bucks created the second-largest series upset in the last decade. Their +430 odds against the Celtics made the largest upset in the Conference Finals since 2009.

The Heat have also pulled off nine moneyline upsets this postseason, tied for the most upsets by any team in a single postseason in over three decades. No team has won more games as an underdog entering the Finals in that span. During the regular season, the Heat only won eight games as an underdog.

The Heat were just 31-48-4 ATS during the regular season, which would be the worst regular-season

Read more on espn.com