2026-27 NBA MVP odds: Wembanyama the favorite, who’s chasing him, and a dark horse to watch

Victor Wembanyama has been installed as the favorite for the 2026-27 NBA MVP award, according to Forbes, which reported on August 24 that Wembanyama is priced at +200 ahead of the upcoming season. That figure was confirmed by SportsbookReview, which listed Wembanyama as a +200 favorite ahead of Shai Gilgeous-Alexander (+350), Nikola Jokic (+400) and Luka Doncic (+650). Covers.com, in an update from July 13, echoed the same read on the market, stating that “Victor Wembanyama opens as the clear favorite after posting another dominant season, but this market remains extremely competitive.”

The new odds come after Wembanyama finished third in last season’s MVP vote. Shai Gilgeous-Alexander was crowned the 2025-26 NBA MVP in May, according to BasketNews, edging out Nikola Jokic and Wembanyama, the two other finalists. The final vote tally, shared on Facebook and consistent with BasketNews’ reporting, showed Gilgeous-Alexander winning with 939 points, followed by Jokic at 634 and Wembanyama at 589. Heading into 2026-27, that hierarchy at the top of the odds board has essentially flipped, with Wembanyama now viewed as the man to beat.

Edwards emerges as a dark horse

Beyond the four names bunched at the top, Anthony Edwards of the Minnesota Timberwolves has been singled out as a dark-horse candidate for the 2026-27 award. Bleacher Report listed Edwards at +900 in an August 16 piece that concluded with a final prediction naming him its dark-horse pick. Covers.com placed him at +1567, corresponding to a 6% implied probability, while SportsbookReview had him at +1500.

The case for Edwards rests partly on his improved efficiency. Yahoo Sports noted on July 29 that he “took a massive leap as a shooter” last season, posting career-best marks of 49% from the field and a career-high mark from 3-point range.

Giannis in Miami, Cunningham still in the mix

The MVP market has also been scrambled by one of the offseason’s biggest trades. Giannis Antetokounmpo, a two-time MVP, was dealt from the Milwaukee Bucks to the Miami Heat, USA Today reported on June 23, in a deal that also sent forward Bobby Portis to Miami. Wearing a new uniform, Antetokounmpo still shows up on the 2026-27 odds board, listed by Covers.com at +1900 with a 5% implied probability.

Detroit’s Cade Cunningham also remains part of the conversation despite a serious health scare last season. Cunningham was one of the breakout stories of the 2025-26 MVP race before a collapsed lung sidelined him starting March 19, according to The Athletic, with ESPN confirming on April 6 that he had entered a return-to-play protocol.

Shams Charania reported in March that the Pistons were “optimistic” Cunningham could recover in time for the start of the playoffs. He now sits at +1700 in SportsbookReview’s 2026-27 MVP odds, a sign that oddsmakers still see him as a factor once the new season tips off.