In the city that never sleeps, the vibes have never been better.
The New York Knicks won the NBA championship on Saturday night, defeating San Antonio in five games and earning the franchise’s first title since 1973. It was a long drought that multiple generations of fans had hoped to see end.
And boy, did Jalen Brunson deliver.
But the Spurs’ basketball court in San Antonio wasn’t the only place where Knicks fans won on Saturday night. The Knicks’ championship became a virtual gold rush for BetMGM players, as thousands of New York fans monetized their team belief with a successful championship bet.
It was a big win for Knicks odds bettors – and a big loss for the sportsbook.
“The Knicks winning the title ended up making a lot of our customers very happy,” said BetMGM sports trader Anthony Parenti. “Before the NBA Finals began, the sportsbook was cheering for the Knicks because the Spurs were the biggest remaining liability on the futures market.”
But as the Knicks piled up comeback after comeback, the sportsbook’s liability actually flipped. Bettors quickly stopped believing in the inevitability of Victor Wembanyama and the Spurs.
“By the time New York took a 2-0 series lead,” Parenti said, “our liability had flipped.”
That liability was partially primed by a $20,000 wager placed during the first-round playoff series against the Hawks, when the Knicks were 22-to-1 to win the title – their longest odds of the entire season.
That winning bettor collected $440,000 of profit after Saturday’s Game 5 win.
There were all kinds of interesting wrinkles in the public’s big Knicks win, including a noticeable increase in the amount of money being wagered per bet. According to BetMGM’s trading team, the average NBA Finals bet this year was about 29% more than Finals bets in 2025.
For now, bettors will turn to the 2027 NBA championship odds market, where the Knicks are +250 to win the East and 7-to-1 to repeat as champions. The Celtics check in as the early Eastern Conference favorites at +225.
Unsurprisingly, Knicks fans are happy to roll their winnings back into next year’s futures market at such friendly prices. Knicks tickets currently account for 14% of next year’s early championship market, which is more than any other team.
New York Knicks @ +325 New York Knicks @ +900If you’re in New York, check out updated New York sportsbook promos for potential Bonus Bets, Odds Boosts, and more. If you don’t have a BetMGM account, you might be eligible for a sportsbook welcome offer.
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