The New York Knicks made arguably the biggest deal of 2024 NBA Trade Deadline day, acquiring Bojan Bogdanovic and Alec Burks from the Detroit Pistons. Las Vegas certainly seems to think so, as the latest Knicks updated NBA Finals odds after the deal makes it clear the oddsmakers think the team is now more of a title contender than before.

After the Knicks NBA trade deadline move for Bogdanovic and Burks, New York went from +2200 to win the NBA Finals to +1600 odds, according to FanDuel.

On Thursday, the day of the deadline, the Knicks sent Quentin Grimes, Evan Fournier, Malachi Flynn, Ryan Arcidiacono, and two second-round picks to the Pistons for Bojan Bogdanovic and Alec Burks.

The reason the Knicks updated NBA Finals odds dropped so much is that this is a great deal for New York. The team didn’t give up much at all, with Grimes at 20.2 minutes per game the biggest piece. What they got back is a fine depth player in Burks and a big-bodied shooter and scorer in Bogdanovic who should immediately become a key part of the rotation.

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While this Knicks trade made the team better for sure, it didn’t necessarily get the team to where it needs to be to win a championship, at least according to the odds.

At +1600, the Knicks are now tied with the Phoenix Suns as the team with the fifth-best odds to win it all. The Boston Celtics (+260), Denver Nuggets (+440), Los Angeles Clippers (+550), and Milwaukee Bucks (+550) are still all ahead of the Knicks, despite their excellent trade.