The NBA has finalized the schedule for this year’s draft lottery, and the date has been set for August 20th.

This report comes straight via renowned NBA insider Shams Charania, who also confirmed that the lottery will adapt a virtual format for the first time in history:

That’s just a little over a week from today, which will certainly intensify every team’s preparations for the upcoming draft, which is scheduled for October 16. This gives teams around two months to iron out their game plans for an event that will have a tremendous impact on the future of their respective franchises.

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At the moment, the Golden State Warriors, the Cleveland Cavaliers, and the Minnesota Timberwolves all have the best odds of winning the first overall pick, with all three sides owning a 14.0 percent chance. The Atlanta Hawks and the Detroit Pistons round out the Top 5, with a 12.5 percent and a 10.5 percent chance, respectively.

As we all know, however, the odds do not always dictate what actually happens during the lottery. Last year, the New Orleans Pelicans beat the odds by winning the first overall pick, despite having just a 6.0 percent chance. The New York Knicks, Cleveland Cavaliers, and the Phoenix Suns all had the best odds last year (14.0 percent each), but they ended up with the third, fifth, and sixth picks, respectively.

Simply put, nothing is set in stone, and based on history, we should be in store for a surprise or two come lottery night.