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Latest NBA MVP Odds: Thunder Star Shai Gilgeous-Alexander Favored to Repeat

Publish Date: Feb 19, 2026
Fact checked by: Matt Moreno
Key Points
  • Shai Gilgeous-Alexander and Nikola Jokic opened as co-favorites to win NBA MVP at +275 at BetMGM.
  • Shai Gilgeous-Alexander won the award last season; Jokic won in 2020-21, 2021-22, and 2023-24.
  • When Jokic won for the 2020-21 season, he had +2500 odds entering the season, making him one of the biggest longshot winners in the history of the award.

Several teams appear to be destined for the playoffs, and it looks like Shai Gilgeous-Alexander will win the NBA MVP again. But there’s a lot of basketball left to play before anything gets decided. So, with the second half of the season getting underway, it’s a great time to revisit the latest NBA MVP odds.

The most current NBA MVP odds via BetMGM for Shai Gilgeous-Alexander give him at a 63.64% chance to repeat. But a number of other players are having standout seasons as well. If SGA were to stumble or if someone else steps up their game down the stretch, that could easily change.

Shai Gilgeous-Alexander #2 of the Oklahoma City Thunder drives to the basket during the game against Amen Thompson #1 of the Houston Rockets on October 21, 2025 at Paycom Center in Oklahoma City, Oklahoma.

(Photo by Jesse D. Garrabrant /NBAE via Getty Images)

NBA Regular Season MVP Odds: Shai Gilgeous-Alexander Favored Post All-Star Break

Let’s take a look at the odds for several of the top contenders for the NBA Regular Season MVP as the second half of the season gets underway:

  • Shai Gilgeous-Alexander -175
  • Nikola Jokic +300
  • Cade Cunningham +1300
  • Luka Doncic +2200
  • Victor Wembanyama +2800
  • Donovan Mithcell +10000
  • Jaylen Brown+10000
  • Anthony Edwards +15000
  • Jalen Brunson +20000
  • Kawhi Leonard +100000
  • Tyrese Maxey+100000
  • Kevin Durant +100000

SGA has the resume to back up midseason odds

At -175, Shai Gilgeous-Alexander  is a heavy favorite to win, and he does fit a lot of the unofficial but standard criteria for NBA MVP candidates:

  • His Oklahoma City Thunder will be the No. 1 seed for the Western Conference barring a total meltdown in the second half of the season.
  • 50+ wins is standard, and the Thunder have the best record in the NBA coming out of the break at 41-14.
  • Winners are typically the best player on an elite team—and he is.

MVPs are usually stat monsters, and SGA certainly qualifies as such. He is one of two players averaging 30+ points per game. His stats do not reach any historical benchmarks and he is certainly not a breakout star, but he has helped carry an injured roster through most of the season.

But if we just hand the award to him right now, well—that’s boring. So, rather than act as if he has it in the bag, let’s take a close look at a few guys who could overtake him.

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NBA Regular Season MVP Odds: My Picks Not Named SGA

However, before diving into those names, it is worth pointing out that some of the top candidates are in danger of not even qualifying for a shot to win the award. Players must play in at least 65 games and 20+ minutes in those games.

  • Jokic has already missed 16 games and can miss only one more.
  • Wembanyama has missed 14, giving him a three-game cushion.
  • Luka Doncic has missed 12, giving him five more he can miss.
  • SGA has a ten-game buffer still, having missed seven games
  • Cade Cunningham has missed four and can still miss 13 and qualify

Now, let’s talk about some of the top candidates not named Shai Gilgeous-Alexander:

Nikola Jokic +300

As a three-time winner, it is not shocking to see his name in the conversation. Jokic is a stat monster who does it all (scoring, rebounding, assists, etc.) for one of the best teams in the Western Conference (Denver) — he’s a triple-double machine. But he can only miss one more game. He has always played in more than 65 games, but he is not getting any younger.

Cade Cunningham +1300

He is averaging a respectable 25.3 points per game and 9.6 assists. Cunningham is a big part of the reason the Pistons have emerged as one of the best teams in the NBA this season (not to mention the No. 1 seed in the Eastern Conference). But I’m not sure he’ll get enough individual credit to make him a potential MVP.

Victor Wembanyama +2800

He is an offensive weapon, one of the better defensive players in the league and a large part of the reason the San Antonio Spurs have the second-best record in the Western Conference. As an offensive contributor, Wembanyama may not blow you away, but factor in his defensive prowess…

He has a great story, leading a historic franchise like the Spurs back to prominence. But I can see some voters passing on him simply because he’s so young. They’ll just go with SGA because he's been awesome, and give it to Wembanyama next year when he has an even better season.

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