There have been several NBA teams that have won the championship against long odds. Bookmakers, NBA odds, NBA picks, and parlays went on a roller coaster ride during most of these Finals series.
Here is a list of the Top 5 NBA Teams that won the Larry O’Brien trophy against all nba odds :
5. New York Knicks (NBA Finals 1969–70)
Some examples include the 1969–70 New York Knicks, who were not considered to be among the league’s elite teams but managed to win the championship by defeating the heavily favored Los Angeles Lakers in the Finals. With the likes of the dominant Wilt Chamberlain, Jerry West and Elgin Baylor, the LA Lakers look poised to win the title, but Walt Frazier and the Knicks went on to upset the Lakers 4–3 and win the title. The Knicks team also featured future legendary NBA coach Phil Jackson

4. Dallas Mavericks (NBA Finals 2010–11)
The Dallas Mavericks became the first team in NBA history since the implementation of the 7-game series format to enter Game 3 tied at one, lose Game 3, and still win the Finals. The previous 11 times such a situation occurred, the Game 3 winner went on to win the series. Led by Dirk Nowitzki, the Dallas Mavericks beat the Miami Big 3 of Dwyane Wade, LeBron James and Chris Bosh 4–2 in what is regarded one of LeBron’s worst NBA Finals defeat. The Miami Heat went on to win the next two NBA Championships which makes the achievement all the more incredible.

3. Philadelphia 76ers (NBA Finals 1982–83)
The 1982–83 Philadelphia 76ers were also a team that won the championship against long odds, as they were led by a rookie head coach and were not expected to compete for the title with the likes of dominant teams in the LA Lakers and the Boston Celtics, and even more so to defeat the Los Angeles Lakers 4–0 in one of the biggest upsets in NBA Finals history. Moses Malone came way with the Finals MVP.

2. Toronto Raptors (NBA Finals 2018–19)
In 2019, the Toronto Raptors, led by Kawhi Leonard, faced the Golden State Warriors who were coming off two back-to-back NBA Championships. NBA odds and NBA picks in most sportsbooks had the Golden State Warriors as favouries with 1–2 odds while Toronto stood at unlikely odds of 12–1. The Raptors won the series 4–2 to deny the Warriors a legendary threepeat.

- Cleveland Cavaliers (NBA Finals 2015–16)
Finally, The Cleveland Cavaliers and Golden State Warriors (Best NBA Record of all time 73–9) faced off in the NBA Finals in 2016, with the Cavaliers winning the championship in seven games. The series was highly competitive, with the Warriors starting out in dominant fashion, taking a
3–1 Series lead. Major odds sharks understandably had the Warriors as favorites, but in the end, the Cavs were able to edge out the Warriors thanks to a strong defensive effort and incredible scoring attack led by LeBron James and Kyrie Irving, coming back and winning the series 4–3 in one of the most unbelievable comebacks in NBA history against all odds. NBA Betting odds and picks took a see-saw ride throught the course of the series and a lot of NBA parlays took major hits.

Overall, there have been many teams in NBA history that have overcome long odds to win the championship, proving that anything is possible in sports and especially NBA Basketball.