With only four teams left in the 2026 NBA playoffs, both conference finals offer intriguing subplots and plenty of star power. Both Western Conference finalists, the Oklahoma City Thunder and San Antonio Spurs, remain the top contenders to win the championship. The East features a matchup between the conference’s two preseason co-favorites: the New York Knicks and Cleveland Cavaliers.
Oklahoma City and San Antonio are still the clear betting favorites, while New York maintains a solid distance ahead of Cleveland. The Thunder (-165 on DraftKings, -160 on BetMGM) are favored against the field, while San Antonio (+310 on DK, +300 on BetMGM) is the nearest contender. The Knicks (+550 on both) and Cavaliers (+2000 on DK, +2200 on BetMGM) are further back.
Western Conference set for a memorable clash
Since the middle of March, the Thunder and Spurs have been the top two favorites to win the NBA Finals. Two months and two playoff series later, the series every basketball fan begged for is finally here.
Oklahoma City has been dominant so far during its quest to repeat. The Thunder are a perfect 8-0 this postseason, even while missing injured starting forward Jalen Williams since April 22. Cleared to return for the San Antonio series, an available Williams gives the Thunder yet another weapon on one of the deepest collectives in recent memory.
After securing his second straight MVP award, guard Shai Gilgeous-Alexander will continue to be a focal point in the Western Conference finals for San Antonio’s athletic defense.
Even before the NBA playoffs began, the Spurs significantly closed the gap on the reigning NBA champions in the title odds. San Antonio was down to +4500 odds in December but climbed up the board with a consistently solid regular season.
San Antonio superstar Victor Wembanyama is capable of taking over the Western Conference finals when he’s on the floor. Wembanyama didn’t play more than 28 minutes in a game against the Thunder during the regular season. The Spurs still went 4-1 against Oklahoma City — including a victory in the semifinals of the NBA Cup. A healthy San Antonio brings talent to match the Thunder and shouldn’t be intimidated by the defending champions, despite a lack of deep playoff experience.
Because of a difficult conference finals matchup against San Antonio, Oklahoma City holds slightly worse NBA championship odds than at the same point in 2025 (-175 last year, compared to -160 this season). Luck of the draw saw the Thunder miss the Western Conference’s No. 2 and No. 3 seeds last postseason as No. 6-seed Minnesota made an unexpected conference finals run.
A year later, Oklahoma City faces a true test from the Spurs in what could be a memorable Western Conference finals.
New York big favorite over Cleveland
In the Eastern Conference, the Knicks enter the conference finals as heavy favorites (-275 to advance on BetMGM) over the Cavaliers. When 2026 NBA title odds opened last June, New York and Cleveland opened with identical +700 title odds and stayed the two favorites in the East for most of the regular season.
Cleveland’s odds slipped in March when the Boston Celtics unexpectedly emerged as a title contender with the healthy return of star Jayson Tatum from injury. After eliminating the top-seeded Detroit Pistons in the second round, the Cavaliers are the clear underdog of the remaining four NBA playoff teams. Cleveland’s odds jumped from +3500 to +2200 over the last week.
Rest and recovery will play an immediate role in the Eastern Conference finals. After eight days off following a sweep of the Philadelphia 76ers in the second round, New York enters the conference finals with a clear rest advantage over the Cavaliers.
While the Knicks rested and waited, Cleveland battled through two full seven-game series, winning Game 7 in Detroit on Sunday.
New York is also playing at an elite level so far this postseason. Since dropping Game 3 in the first round against Atlanta, the Knicks have won seven in a row, with six of those wins coming by at least 14 points. Regularly stepping on the gas, New York’s potent and balanced offense could be tough for Cleveland to keep up with. Point guard Jalen Brunson is playing at a high level and getting strong interior play from Karl-Anthony Towns.
The health of Knicks wing OG Anunoby will be something to monitor as the conference finals progress. Anunoby missed the final two games of New York’s second-round win over Philadelphia with a hamstring injury and will be important in helping to slow down Cleveland’s talented perimeter players.
Cleveland counters with plenty of firepower of its own and improved physical play from the interior of Evan Mobley and Jarrett Allen. The big men were tested against both Toronto and Detroit in the first two rounds and came away with series wins.
James Harden and Donovan Mitchell pressure opposing defenses on every possession with the ability to touch the paint. If Anunoby isn’t fully healthy, Harden and Mitchell could be tough for New York to slow down.
Although New York claimed the regular-season series 2-1 against Cleveland, the Cavaliers decisively won the only matchup after the Harden trade.
