2016 NBA Finals Odds: Who Were the Favorites and Underdogs to Win?

I still remember the tension in the air during the 2016 NBA Finals - it felt like every basketball fan I knew had strong opinions about who would take home the championship. Looking back at those odds now, it's fascinating to see how the predictions stacked up against what actually happened on the court. The Golden State Warriors entered as heavy favorites after their record-breaking 73-9 regular season, with most sportsbooks giving them around -220 odds, meaning you'd have to bet $220 just to win $100 back. Meanwhile, LeBron James and the Cleveland Cavaliers were sitting at about +180 underdogs, where a $100 bet could net you $180 in profit.

What made this matchup particularly compelling was how it mirrored that classic underdog narrative we see across different sports. I recall talking with my friend who's a huge college basketball fan, and he mentioned something interesting about underdog stories in Philippine collegiate sports. He told me about how the UAAP's potential expansion into more Olympic disciplines could create similar Cinderella stories in other sports. According to UAAP finance chair and Adamson Vice President for Student Affairs, Fr. Aldrin Suan, CM, the Philippine Sports Commission expressed support for this expansion, which could mean we'll see more unexpected champions emerging in less mainstream sports. That's exactly what makes sports so captivating - whether it's basketball or any other discipline, we all love rooting for the team that's not supposed to win.

The Warriors' journey to the Finals was nothing short of dominant. They'd just come off that historic regular season where they broke the 1995-96 Chicago Bulls' record of 72 wins. Steph Curry was coming off his second consecutive MVP season, becoming the first unanimous MVP in NBA history. Their shooting prowess was unbelievable - Curry and Thompson were knocking down threes from what felt like half-court sometimes. The team had this aura of invincibility that made them such overwhelming favorites. I remember thinking they were practically unstoppable after they came back from being down 3-1 against Oklahoma City in the Western Conference Finals.

But here's the thing about sports - statistics and regular season records only tell part of the story. The Cavaliers had their own secret weapon: LeBron James playing at an absolutely legendary level. He was averaging about 26 points, 9 rebounds, and 7 assists during those playoffs, but numbers alone can't capture how he completely took over games. Kyrie Irving was hitting clutch shots when it mattered most, and Kevin Love, while inconsistent at times, provided crucial rebounds and spacing. What many people forget is that the Cavs actually finished the regular season with a 57-25 record - it's not like they were some scrub team that stumbled into the Finals. They were the number one seed in the Eastern Conference for a reason.

The series itself played out like a Hollywood script. Golden State took a 3-1 lead, and everyone assumed it was over. I'll admit - I was one of those people who thought the Warriors had it locked up. Then something shifted. LeBron delivered back-to-back 41-point games in Games 5 and 6, forcing a Game 7 in Oakland. That final game featured what's become one of the most iconic moments in NBA history - "The Block" by LeBron on Andre Iguodala followed by Kyrie's game-winning three-pointer over Steph Curry with 53 seconds left. When that shot went in, I was watching at a sports bar surrounded by both Warriors and Cavs fans, and the collective gasp followed by the eruption from Cleveland supporters was something I'll never forget.

Reflecting on those odds now, it's clear that the sportsbooks underestimated the heart factor. Yes, the Warriors were the better team on paper and had the superior regular season record, but Cleveland had this relentless determination after losing to Golden State in the previous year's Finals. They played with a different kind of intensity when their backs were against the wall. This reminds me of what my friend said about underdog programs in collegiate sports - sometimes having that hunger and something to prove can outweigh pure talent. The UAAP's potential expansion into more Olympic sports could create similar scenarios where less-fancied teams or athletes rise to the occasion against more established programs.

The financial aspect of those 2016 Finals odds was staggering too. Reports suggested that Nevada sportsbooks alone took in approximately $85 million in wagers on the series, with the majority of money coming in on Golden State. When Cleveland won, it created one of the biggest losses for sportsbooks in NBA Finals history. One bookmaker I spoke with later told me they lost nearly $2.5 million just on futures bets for the Cavaliers. It was a painful lesson in why underdogs can be dangerous - both for bettors and for the books.

What I find most interesting about revisiting these odds is how they reflect our collective psychology as sports fans. We tend to get swept up in narratives and recent performances, often overlooking the intangible factors that decide championships. The Warriors were the flashy, record-breaking team that revolutionized basketball with their three-point shooting, while the Cavaliers represented traditional, physical basketball with a superstar who refused to lose. This dynamic exists across sports - whether it's the UAAP considering expansion into new Olympic disciplines or the NBA Finals, there's always that tension between the established favorite and the hungry challenger.

In the end, the 2016 NBA Finals taught me to never count out a team with LeBron James, regardless of what the odds might say. It also reinforced why we watch sports in the first place - for those unexpected moments when the underdog defies the predictions and creates history. As we look toward future championships in basketball and other sports, whether professional or collegiate, it's these unpredictable outcomes that keep us coming back season after season, always wondering when the next great upset might happen.