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Bulls open at 12-1 to win 2016 NBA title

Fred Hoiberg’s first Bulls team has been given a 12-to-1 chance of winning the 2015-16 NBA championship, according to newly released odds from The Westgate LV SuperBook on Monday.

The Cavaliers are a loss away from dropping the 2015 NBA finals, but they remain the favorite to win in 2016 at 9-to-4.

The Bulls are one of six teams with a 12-to-1 chance or better of claiming next year’s title, behind the Cavs, Warriors (5-to-1), Thunder (5-to-1), Clippers (10-to-1) and alongside the Spurs (12-to-1).

Chicago is 11-to-2 to win the Eastern Conference.

The Bulls fired coach Tom Thibodeau this offseason after falling to the Cavaliers in Game 6 of the Eastern Conference semifinals. The firing followed months of rumored discontent in the front office.

Vegas was high on the Bulls before the start of last season at 6-to-1 to win a title. Only the Cavs and Spurs had better odds.

With a new coach and some uncertainty about what personnel will return, Vegas appears to be much less sure about the Bulls of 2016.

Here are the full championship odds, as relayed by CBS Sports:

Cavaliers 9-4
Warriors 5
Thunder 5
Clippers 10
Spurs 12
Bulls 12
Hawks 20
Pelicans 20
Rockets 20
Wizards 30
Pacers 30
Grizzlies 30
Raptors 30
Blazers 40
Mavericks 40
Heat 30
Celtics 80
Bucks 80
Pistons 80
Jazz 80
Suns 80
Lakers 80
Nuggets 80
Knicks 80
Nets 100
Kings 100
76ers 200
Magic 200
Wolves 200
Hornets 200