Along with the release of the 2023-24 NBA schedule comes betting odds for all five games on Christmas Day. The Milwaukee Bucks, Denver Nuggets, Boston Celtics, Miami Heat and Phoenix Suns have opened as the favorites on the 2023 NBA Christmas Day schedule.

The Bucks are two-point favorites at FanDuel Sportsbook against the New York Knicks on Christmas Day. Milwaukee kicks off the 2023 NBA Christmas Day schedule as one of the holiday's two road favorites. The Celtics are also favored away from home, laying a point against the Los Angeles Lakers. The Celtics-Lakers rivalry renews on Christmas Day and Feb. 1 next season.

The Suns are the biggest Christmas Day favorites, according to the opening odds at FanDuel. The Dallas Mavericks are 5.5-point underdogs in their visit to Phoenix. The Suns-Mavs game is the final contest on the holiday schedule.

The Mavericks are the only team that will play on Christmas Day after missing the playoffs. The Bucks are the one playoff team on the schedule that failed to make it out of the first round.

The Miami Heat are three-point favorites over the Philadelphia 76ers in the second-to-last game of the day. The Heat-Sixers betting line probably has the best chance of changing dramatically before tip-off. Miami could trade for Damian Lillard at some point within the next few months. It's hard to know exactly what the Sixers' roster will look like amid Philadelphia's refusal to trade James Harden and the guard's dissatisfaction with still being part of the organization.

The Denver Nuggets are five-point favorites over the Golden State Warriors in the second game of Christmas Day.