2025-26 NBA MVP Odds: Shai Gilgeous-Alexander, Nikola Jokic, Luka Doncic Open Season Atop MVP Odds
The Oklahoma City Thunder won it all last year, and Shai Gilgeous-Alexander swept the regular season and finals MVP awards. Can he go back-to-back in 2025-26? Let's take a look at the latest NBA regular season MVP award odds ahead of the NBA season tipping off.
Peter Alexis - October 21, 2025, 11:30 AM EDT
5 Minute Read2025-26 NBA MVP Odds: Shai Gilgeous-Alexander Favored to Repeat as NBA Regular Season MVP
The NBA season tips off Tuesday night, and all eyes are on the reigning champion Oklahoma City Thunder as they host the Houston Rockets. Leading the way once again is Shai Gilgeous-Alexander, who took home both the regular season MVP and Finals MVP awards last year after a remarkable campaign. His dynamic scoring and elite two-way play helped guide the Thunder to their first title since 1979, and he now enters the 2025–26 season as the +275 favorite to repeat as league MVP.
Behind him are two familiar names in Nikola Jokic (+300) and Luka Doncic (+400), both eager to reclaim the throne. Jokic’s Nuggets fell short in last year’s playoffs, while Doncic begins his first full season in Los Angeles as the new face of the Lakers. Rounding out the top five are Victor Wembanyama (+1200) and Giannis Antetokounmpo (+1400), two generational big men who both have plenty to prove after disappointing finishes to their 2024–25 seasons. With a mix of established superstars and rising talent, this year’s MVP race could be one of the most competitive in recent memory.
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2025 NBA MVP Odds
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NBA MVP Odds Breakdown
Shai Gilgeous-Alexander (+275) Click here to see which sportsbook has the best odds
SGA remains the man to beat after putting up 32.7 points, 6.4 assists, and 1.7 steals per game last season. His efficiency and clutch play in big moments set him apart, and now that Oklahoma City has championship experience, the expectations are even higher. If the Thunder stay near the top of the Western Conference, there’s little doubt Gilgeous-Alexander will remain the frontrunner.
Nikola Jokic (+300) Click here to see which sportsbook has the best odds
Nikola Jokic sits right behind him at +300, aiming for a fourth career MVP after wins in 2021, 2022, and 2024. The Nuggets were eliminated in the second round last postseason, and Jokic didn’t seem quite as dominant down the stretch as in years past. Still, his all-around brilliance and Denver’s steady success keep him firmly in the mix, especially if he can guide the team back to a top-two seed in the West.
Luka Doncic (+400) Click here to see which sportsbook has the best odds
Luka Doncic (+400) begins a new chapter as the full-time leader of the Lakers, following last season’s blockbuster trade from Dallas. He now has complete control of the offense with LeBron James easing into a reduced role. If Doncic can put up his usual gaudy stats while keeping Los Angeles among the conference’s elite, voters may finally reward him with his first MVP trophy.
Victor Wembanyama (+1200) Click here to see which sportsbook has the best odds
Victor Wembanyama (+1200) was on track to win the award last season before his campaign was derailed by a shoulder injury. The Spurs shut him down for precautionary reasons, but the 7-foot-4 sensation is healthy and ready to dominate again. He’s the most unique player in basketball and, if he stays on the floor, has the tools to challenge the league’s top stars statistically and stylistically.
Giannis Antetokoumpo (+1400) Click here to see which sportsbook has the best odds
Finally, Giannis Antetokounmpo (+1400) remains a constant presence in the MVP conversation. The two-time winner hasn’t taken home the honor since 2020, but his relentless energy and unmatched physicality still make him one of the best players in the world. With Damian Lillard no longer in Milwaukee, Giannis will shoulder even more of the offensive load. If the Bucks exceed expectations and stay near the top of the East, he could surge right back into MVP contention.
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