The New York Knicks enter the 2026-27 NBA season as underdogs despite capturing their first championship in 53 years. According to early odds from DraftKings sportsbook released Monday, the Knicks hold the fourth-best title chances at +650, trailing the San Antonio Spurs (+250), Oklahoma City Thunder (+260), and Boston Celtics (+550).

The Spurs, who were favored prior to this year’s Finals before falling in five games to the Knicks, are viewed as strong contenders with a young core featuring 22-year-old Victor Wembanyama, 21-year-old Stephon Castle, and 20-year-old Dylan Harper gaining valuable playoff experience. Oklahoma City, last season’s champion and the league’s top regular-season team at 64-18, returns with a core led by back-to-back MVP Shai Gilgeous-Alexander after falling in a seven-game Western Conference Finals series to the Spurs while managing injuries to key players Jalen Williams and Ajay Mitchell.

Boston, the 2024 NBA champion, finished as the No. 2 seed in the Eastern Conference at 56-26 despite losing several veterans in offseason trades and missing star forward Jayson Tatum for most of the season due to an Achilles injury. Now healthy, Tatum’s return bolsters the Celtics, who are also considered prime candidates to acquire Milwaukee Bucks superstar Giannis Antetokounmpo. DraftKings currently lists Boston as the favorite to win the Eastern Conference at +190, followed by the Knicks at +250 and the Detroit Pistons—who finished with the East’s best regular-season record at 60-22—at a distant +900.

The Knicks closed the 2026 postseason with a remarkable 16-3 record, rallying past the Atlanta Hawks, Philadelphia 76ers, Cleveland Cavaliers, and Spurs to secure the franchise's first NBA title since 1973. Their 283-point differential across 19 playoff games is the largest margin ever recorded in a single postseason. New York plans to retain its championship lineup, bringing back all five starters and key reserve Miles “Deuce” McBride. Free agency presents decisions regarding Mitchell Robinson and Landry Shamet, while Jose Alvarado holds a $4.5 million player option.

Financially, the Knicks currently project approximately $209 million in payroll commitments for the upcoming season, including Alvarado’s option and their anticipated payout for the No. 24 draft pick. This figure approaches the second salary cap apron, estimated at $222 million, leaving limited but some flexibility to maintain the core that delivered the title.

While the Knicks’ odds place them behind three franchises expected to contend aggressively, their championship pedigree and returning roster suggest they remain a formidable presence as the new season approaches.