The Cleveland Cavaliers remain the favorite to win the 2015 NBA Finals, but the young and hard-charging Golden State Warriors and Toronto Raptors are quickly rising up Las Vegas sports books.

LeBron James and the Cavs began the season as 5/2 favorites, and those odds have slightly shifted down to 7/2, but both Golden State and Toronto made huge leaps according to the latest odds from

Spurred by their 16-game win streak and the Western Conference’s best record of 22-3, the Warriors odds of winning the franchise’s first title in 40 years rose from 16/1 to 5/1. Star point guard Stephen Curry, who’s fifth in the league in scoring (23.9 ppg) and seventh in assists (7.6), has also arguably surpassed James as the prohibitive favorite to win the MVP award.

Golden State also possesses maybe the most balanced team in the league, ranking second in scoring and ninth in defense, and has benefited from a breakout year from small forward Draymond Green. The Warriors are still behind defending West champs San Antonio, who sit at 9/2 behind Cleveland but is also 17-9 and currently seventh in the conference.

The Raptors have surged to the top of the Eastern Conference despite the loss of guard and No. 2 scorer DeMar DeRozan. Notching 19.4 points per game, DeRozan went down with a torn tendon in his groin on Nov. 28. Point guard Kyle Lowry has picked up the slack, as Toronto has gone 7-2 in December and boast the third-highest scoring offense in the league. At 20-6, Toronto will get a boost when DeRozan returns. He was projected to miss only a month due to the injury.

Another team threatening for the NBA title is the Dallas Mavericks. Already first in the NBA with 110.1 ppg and seventh with 23.6 assists per game, the Mavs acquired the league’s leading assist man Rajon Rondo from the Boston Celtics on Thursday and now are at 15/2 to win a second championship in five seasons. Dallas began the season with 16/1 odds, but adding a defensive floor general like Rondo means they can contend with the likes of the Warriors' Curry, the Los Angeles Clippers' Chris Paul and the Oklahoma City Thunders' Russell Westbrook.

The full list of each team’s odds is below.

Odds To Win NBA Title

Cleveland Cavaliers  7/2

San Antonio Spurs  9/2

Golden State Warriors  5/1

Dallas Mavericks  15/2

Oklahoma City Thunder  8/1

Chicago Bulls  9/1

Memphis Grizzlies  12/1

Los Angeles Clippers  14/1

Houston Rockets  18/1

Toronto Raptors  20/1

Portland Trail Blazers 28/1

Washington Wizards  33/1

Atlanta Hawks  40/1

Miami Heat  75/1

New Orleans Pelicans  100/1

Phoenix Suns 100/1

Brooklyn Nets  150/1

Milwaukee Bucks  200/1

Sacramento Kings 200/1

Boston Celtics 500/1

Charlotte Hornets  500/1

Denver Nuggets  500/1

Indiana Pacers  500/1

Los Angeles Lakers 500/1

New York Knicks  500/1

Orlando Magic  500/1

Minnesota Timberwolves  1000/1

Utah Jazz  1000/1

Detroit Pistons 5000/1

Philadelphia 76ers  5000/1