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