The latest Chicago Bulls odds are less optimistic than they were a week ago. The team has made a few moves around the edges but hasn’t committed to a big free agency splash.
On the other hand, the rest of the league is only getting better. That has the latest odds for the Chicago Bulls taking a hit.
Wagering on the NBA is always an option thanks to the year-round nature of Illinois sports betting. The current slate of basketball odds could be appealing if you’re feeling strongly about the team one way or the other.
What free agents did the Bulls sign?
NBA free agency is the highlight of the league’s summer. This year’s window opened on June 30, so teams around the association are jumping at the chance to sign new players.
So far, the biggest move for the Chicago Bulls has been bringing back two-time All-Star and gold medalist Zach LaVine. LaVine signed a five-year max contract worth over $215 million to return to Chicago.
That move was a huge win for fans, ultimately ensuring that the team as they know it wouldn’t collapse over the summer.
Despite that, as far as next season goes, it essentially puts the Bulls back where they started. That’s what has oddsmakers pessimistic about the team’s chances next year.
Chicago finished the regular season with a 46-36 record after running out of gas down the stretch. That ultimately led to a first-round playoff exit against the Milwaukee Bucks.
In addition to bringing back LaVine, the Bulls signed a pair of veterans in Andre Drummond and Goran Dragic. However, with the core of the team remaining largely the same, Illinois sportsbooks have the team’s odds in the middle of the pack for next season.
Chicago Bulls latest betting odds
Before the start of free agency, DraftKings Illinois had the Bulls sitting at +3,500 to win the 2023 NBA Championship. That gave the team the 13th-best odds of coming out on top next season.
Things have taken a dip since then.
In short, that’s because other teams around the league are swinging for the fences when it comes to offseason improvements.
The Timberwolves went all-in for Rudy Gobert, who was a rumored offseason target for the Bulls. The Hawks traded for an All-Star of their own in Dejounte Murray. Toss in Kevin Durant requesting a trade, and there’s a lot of upheaval taking place around the league.
Chicago sitting on its hands has sportsbooks in Illinois dropping the team’s odds. DraftKings currently has the Bulls sitting at +4,500 to win the 2023 title, which is a noticeable drop from its original spot.
Of course, those odds are likely to change between now and the start of next season. Here’s a look at the current live odds for the team: