Kevin Durant Golden State Warriors
Kevin Durant #35 of the Golden State Warriors dunks the ball during Game 1 of the Western Conference Semifinals against the New Orleans Pelicans at ORACLE Arena on April 28, 2018 in Oakland, California. Lachlan Cunningham/Getty Images

The first of four playoff rounds is complete, and eight teams remain in contention to win the 2018 NBA Finals. The Golden State Warriors and Houston Rockets entered the postseason as the clear favorites to win this year’s championship, and nothing in the last few weeks has changed that perception.

Golden State still has the best betting odds to successfully defend their title, and they are nearly odds-on favorites to win a third championship in four years. Houston is their chief competition and arguably the league’s only other legitimate contender.

The picture is far less clear in the Eastern Conference. The Toronto Raptors still have the best odds as the East’s No.1 seed, though the Philadelphia 76ers aren’t far behind. The Cleveland Cavaliers have the third-best odds after needing seven games to get by the Indiana Pacers.

The Warriors had little trouble with the San Antonio Spurs in the first round, winning the series in five games after taking a 3-0 series lead. The Rockets defeated the Minnesota Timberwolves in five games, as well, and both teams won Game 1 of their respective second-round series handily.

The difference is that Golden State did all of that without their most important player. Stephen Curry still hasn’t returned from the sprained MCL that’s kept him out of action since March 23. The Warriors were hoping to have him back for the start of the Western Conference semifinals, but they routed the New Orleans Pelicans 123-101 in Game 1 as the two-time MVP watched from the bench.

Curry could return for Game 2 Tuesday. He missed 31 regular-season games, allowing Houston to grab the West’s No.1 seed. If the two teams meet at full strength in the conference finals, Golden State will be favored.

Houston defeated the Utah Jazz 110-96 in Game 1 of their second-round series behind 41 points from James Harden.

Predicting which team the Western Conference winner might face in the NBA Finals is more difficult than it has been at any time this decade. LeBron James is far from a guarantee to win the East, despite doing so for seven straight years.

James had a historic first-round series, scoring at least 44 points three times, and Cleveland still barely survived against the No.5 seed Pacers. The Cavs are underdogs against Toronto in their second-round series, while Philadelphia has been the East’s most impressive playoff team with a five-game series win over the Miami Heat.

The Boston Celtics are the conference’s only long shot to reach the NBA Finals, despite their No.2 seed. Without Kyrie Irving, Boston needed seven games to beat the Milwaukee Bucks.