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NBA Cup Odds 2025: Bucks Beat Thunder for In-Season Tournament Title

Matthew Winick

Last Updated: December 18, 2024 8:31 AM EST • 3 min 43 sec read.

Milwaukee Bucks forward Giannis Antetokounmpo (34) celebrates as we wait for the 2025 NBA Cup odds.
Milwaukee Bucks forward Giannis Antetokounmpo (34) celebrates with the most valuable player and championship trophies. Photo by Kyle Terada-Imagn Images.

The Milwaukee Bucks were crowned champions of the 2024 Emirate NBA Cup after stomping the Oklahoma City Thunder by a 97-81 score in the final on Dec. 17.

The Bucks and Thunder were long among the favorites by the NBA Cup odds from our best NBA betting sites. It was a stark turn from a year ago when the Los Angeles Lakers won the inaugural NBA In-Season Tournament as long shots.

Attention across the league will now turn to the NBA championship odds. The Thunder remain second on that oddsboard behind the reigning champion Boston Celtics. The Play-In Tournament odds will soon start to take shape with that tournament running April 16-19 before the postseason.

Emirates NBA Cup odds 2025

The 2025 NBA Cup odds will likely be released early in the offseason, following the 2024-25 NBA Finals. We'll have them added to this page as soon as possible.

How to bet on the NBA Cup

Betting on the NBA In-Season Tournament (NBA Cup) odds is pretty straightforward. First, pick a sportsbook offering odds on the tournament. Check the odds for different teams; for example, if the Lakers are at +400 and the Celtics are at +600, the Lakers are favored to win.

Decide how much you want to bet and place your wager. If you bet $100 on the Lakers at +400 and they win, you’ll get $500 back ($400 profit + $100 stake). Keep an eye on team performances during the tournament to see how your bet is shaping up.

Now, why do odds move in future markets? It’s all about team performance and public perception. If a team starts playing better or worse than expected, their odds will adjust. Injuries to key players or changes in team dynamics can also affect the odds.

Additionally, if a lot of people are betting on a particular team, sportsbooks might shift the odds to balance their risk. Expert analysis and media coverage can also sway public opinion, influencing how people bet and causing odds to move.

How to read NBA Cup odds

Reading NBA In-Season Tournament (NBA Cup) odds is easy. Odds are usually displayed in formats like +400 or -150. Positive odds (e.g., +400) indicate how much profit you'd make on a $100 bet.

So, a $100 bet at +400 odds would win you $400, plus your original $100 stake, totaling $500. Negative odds (e.g., -150) show how much you need to bet to win $100. For example, a $150 bet at -150 odds would win you $100, plus your $150 stake, totaling $250.

These odds also give you a sense of the implied probability of a team winning the tournament. Lower odds (e.g., +200) suggest a higher likelihood of winning, while higher odds (e.g., +1000) indicate a lower likelihood. Sportsbooks adjust these odds based on factors like team performance, injuries, and public betting trends.

For example, if the Lakers have +400 odds and the Celtics have +600 odds, the Lakers are considered more likely to win. If you bet $100 on the Lakers and they win, you’d get $500 back ($400 profit + $100 stake). Understanding these odds helps you gauge potential returns and make informed betting decisions.

NBA Cup FAQs

Who won the NBA Cup?

The Milwaukee Bucks beat the Oklahoma City Thunder 97-81 on Tuesday, Dec. 17 to win the 2024 Emirates NBA Cup.

How does the NBA In-Season Tournament work?

All 30 teams have been randomly drawn into groups of five within their conference based on win-loss records from the 2023-24 regular season.

Beginning Tuesday, Nov. 12 and continuing through Tuesday, Dec. 3, each team will play four designated group stage games on “Cup Nights” – one game against each opponent in its group. Two games will be played at home and two on the road.

Eight teams will advance to the knockout rounds: the team with the best standing in group stage games in each of the six groups and two “wild cards." 

The knockout rounds will consist of single-elimination games in the quarterfinals (played in NBA team markets on Tuesday, Dec. 10 and Wednesday, Dec. 11). The semifinals and championship will be played in Las Vegas on Dec. 14 and Dec. 17, respectively.

Who is the NBA Cup favorite?

The Oklahoma City Thunder entered the NBA Cup Final as 4.5-point favorites over the Milwaukee Bucks.

What do you get for winning the NBA In-Season Tournament?

The teams will compete for a prize pool and the NBA Cup championship trophy.

When will the NBA Cup be decided?

The 2024 NBA In-Season Tournament finished with the final on Dec. 17. The 2025 NBA Cup schedule will be released along with the full 2025-26 NBA schedule.

Do NBA In-Season Tournament games count toward team records?

All 67 games across both stages of the NBA Cup will count toward the regular season standings except the championship.

Each team will continue to play 82 regular season games in the 2024-25 season, including those games that are part of group play and the knockout rounds. 

NBA betting odds pages

NBA Finals OddsNBA Defensive Player of the Year OddsNBA Clutch Player of the Year Odds
NBA MVP OddsNBA Sixth Man of the Year OddsNBA Cup Odds
NBA Rookie of the Year OddsNBA Most Improved Player OddsNBA Win Totals
NBA Finals MVP OddsNBA Coach of the Year OddsFIBA World Cup Odds
NBA Play-In Tournament Odds

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Written By:
Matthew Winick
Matthew Winick is a freelance basketball writer for Sportsbook Review. He spent over three years working full-time as a Basketball News Editor at theScore, with a special focus on the world of college hoops. He also has experience working with theScore Bet in college basketball picks, strategies, and analysis. When he's not writing articles, Matthew is updating his college basketball spreadsheets and rankings, and waxing poetic about the mid-major squads that not enough people are talking about. He uses an analytical and personnel-based approach to tackling basketball betting, with an emphasis on rate stats and pace. A Toronto, Canada import now living in New York City, Matthew still holds a soft spot for his Toronto Raptors, but is a secretly-converted New York Knicks truther. You can find his basketball rambling on X @matthewwinick.