The defending Eastern Conference champions look slightly different this year after losing Max Strus and Gabe Vincent to free agency. Miami was disgruntled superstar Damian Lillard’s preferred destination for a trade before the PG landed with the Bucks. Sportsbooks have the Heat’s odds to win the championship listed at +1000.
Interestingly, only a few books are offering a line on the team’s win total, preferring to wait for the uncertainty surrounding Lillard to clear up. First-round pick Jaime Jaquez showed a lot of promise in the Summer League before hurting his shoulder.
Miami Heat Odds
View the updated Miami Heat odds below, including moneyline, point spreads, and totals for their next game.
View Heat NBA title odds below.
Heat Roster
Additions: Josh Richardson (signed), Thomas Bryant (signed), Jaime Jaquez (draft)
Subtractions: Max Strus (free agent), Gabe Vincent (free agent), Victor Oladipo (free agent), Omer Yurtseven (free agent)
Here is the current roster for the Miami Heat.
Heat 2023-24 Schedule
The Miami Heat have opened the 2023-24 regular season. Here is the Heat’s complete schedule, including a Christmas Day matchup against the Philadelphia 76ers.
Who Are The Best Players On The Heat?
Jimmy Butler and Bam Adebayo are both two-way stars who have led the current version of the Miami Heat since Adebayo made a leap as a third-year player in the NBA’s bubble season. Both bring identical defensive tenacity, mid-range scoring and willing passing to keep the Heat offense humming despite a distinct lack of threatening outside shooting. With Butler potentially aging out of stardom soon at age 33 — and with an exceptionally heavy minutes load early in his career — Adebayo figures to be the franchise player going forward.
Tyler Herro also factors in here as a sometime starter, sometime bench ace who can fill a variety of roles on offense. However, playoff opponents have consistently picked on Herro’s defense throughout his career. Unless that gets shored up at some point, he’ll remain a tier below the top guys on any highly competitive Heat team.
Heat Props
Player props are an increasingly popular way to bet on sports. However, unlike major markets (game lines, totals), prop markets can change significantly from one sportsbook to another. Luckily for bettors, TheLines has a built-in prop tool that enables you to find the best prices on any players you’re looking to bet.
Just type a player’s name into the search bar, and the player prop lines will populate from all over the market.
Also, keep an eye on TheLines’ YouTube channel, where the Coast 2 Coast crew breaks down NBA player props multiple times per week.
Miami’s 2022-23 Season recap
Unlike the past few seasons, it’s been a bumpy ride for the Heat, with the team under .500 at 16-17 as late as Dec. 23. Miami Heat odds reflect their current place in the NBA standings. Jimmy Butler and Kyle Lowry have missed their usual 20 or so games, and the Heat never really threatened for a top-four seed. An aging roster and a seeming end to the constant supply of both undrafted gems and star imports has left the team treading closer to the middle of the NBA than the top.
Bringing in Kyle Lowry the prior season is looking like a bust of a move as Lowry’s numbers have declined noticeably, while health remains an ongoing concern for much of the roster.
They do at least look certain to win the (awful) Southeast Division as Atlanta simply couldn’t get its act together long enough really threaten the Heat. When Atlanta mounted a final challenge in early March, the Heat beat them in back-to-back games to move to 35-31. But hitting nearly their high point at 40-34 simply led to an immediate three-game skid as Miami remains mired in the play-in race, albeit strong favorites for a home game.
How To Bet On Miami Heat Odds
There are many ways to bet Miami Heat odds during the NBA season.
The most common are the three major markets: spread bets, moneyline bets and over/under bets. Let’s take a look at some examples from an upcoming game against the Mavericks.
- Heat -1.5: This is the point spread. Since the Heat are favorite (denoted by the minutes sign), they are giving five to the Mavericks. That is, they must win the game by at least two to cash the bets.
- Heat -115: This is the moneyline. Again, the Heat are favorites (minutes sign), so the bettor gives a price. That is, they risk $115 for every $100 they want to win on the Heat.
- Over/Under X: This is the betting total. Bettors taking the over must see at least 235 points scored in order to win their bets. Those on the under must see 234 or fewer.
Any of these bets can usually be combined with other bets in parlays. A same game parlay with multiple wagers from one Heat game also gives the option of combining multiple bets in hopes of a bigger payout.
Smaller Markets, Other Heat Betting Options
Getting past the basics, player props are probably the next most popular way to bet the NBA. Since few if any team sports are more individual player-driven than the NBA, player props for the association are a very popular option. Rather than simply betting the Heat to beat the Mavericks or cover the spread, one can bet that Jimmy Butler will score more than, say, 24.5 points. Or, they can bet that he will snag more than 5.5 rebounds. People love to bet props on their favorite players and in nationally televised games.
We’ve already discussed futures bets above. These allow a bettor to make a wager that the Heat can accomplish some feat at a later date: win the Southeast Division, the Eastern Conference, the NBA Finals, surpass a certain number of wins, etc.
NBA bettors can also try teasers. Usually, NBA teasers involve buying four points from the sportsbook — for example, turning Heat -1.5 into Heat +2.5 against the Mavericks — but in exchange, the bettor must parlay that adjusted price with at least one more adjusted price. Generally speaking, it isn’t advised to bet NBA teasers. “Key numbers” don’t exist they way they do for NFL games. Therefore, buying points is usually a losing proposition.
Finally, there’s live betting. Live betting has gained more and more steam in recent years, particularly in the NBA. Live betting the NBA is a great way to take advantage of things like lineup changes and random scoring runs. Teams very frequently make up large deficits in the modern, 3-point-centric NBA. That makes live betting teams that fall behind early an attractive option.
Pay attention to plus-minus data as well to help find an edge. For example, of the high-minutes Heat players, Bam Adebayo (+8.7) and Tyler Herro (+7.9) have the best net ratings on the team. If the Heat send them to the bench for regular rest, that may be a great time to bet the Mavericks live.
Miami Heat Franchise History
The Miami Heat do not have a long history but they have managed to jam a lot of winning into a short amount of time.
The Heat began as an expansion franchise in 1988-89. They won a combined 33 games the first two seasons before settling into mediocrity for a few years.
Cruise line billionaire Mickey Arison changed that in 1995 when he purchased the team and brought in the one man who has shaped the course of the franchise every step of the way since: Pat Riley. The legendary former Lakers player and coach — and sometime Knick — immediately boosted the team. Miami made the playoffs in his first season coaching them, then won 61 games and made the Eastern Conference Finals the next season.
More playoff appearances followed, but after a rough 25-win season, Riley stepped away from coaching to focus on front-office duties. That 2002-03 season would prove a turning point for another reason as well as the Heat nabbed eventual franchise legend Dwyane Wade with the No. 5 pick. Immediately, the Heat made the playoffs. The next season, they added Shaquille O’Neal via trade to form a dynamite one-two punch with Wade. A 59-win season came up a bit short when Wade sustained a playoff injury.
However, things clicked in the playoffs the next season in 2005-06. Riley returned to the bench halfway through the season and coached the team to the finals. There, down 2-0, Wade completely took over the series and the Heat prevailed 4-2 over Dallas.
The Heat failed to do any playoff damage the next four seasons, which also included a 15-win outlier disaster. In true Heat — and Riley fashion — they went back on the prowl for star additions, with Wade now flying solo after a trade of O’Neal. Miami managed to land LeBron James and Chris Bosh in an historic offseason.
The new superstar trio immediately trucked through the East only to fall in a shocking upset to Dallas in the finals, frittering away a 2-1 lead in the series. They made amends the following two seasons, though. First, they beat an upstart Oklahoma City Thunder team in the 2012 NBA Finals, 4-1. Then, they authored a 66-win campaign the following season, which included a near-record 27-game winning streak. That season also ended in glory, although it took a legendary comeback in Game 6 against the San Antonio Spurs to force a Game 7, which Miami won. After one more finals appearance the next season, but a 4-1 loss to those same Spurs, James departed back to Cleveland in free agency.
Wade would also leave in free agency, and Bosh would experience a premature end to his career due to blood clots. Just like that, the championship era swiftly ended and the Heat won one playoff series over the next five seasons.
However, another star guard arrived in free agency to pull the franchise out of mediocrity. Jimmy Butler immediately led the team through the Eastern Conference playoffs in the bubble despite a No. 5 seed. They trounced the top-seeded Milwaukee Bucks and wound up facing old franchise pillar James in the finals, now with the Lakers. Despite an incredible performance from Butler, the overmatched Heat fell in six.
After a down season, Butler led the team back to the Eastern Conference Finals in 2021-22, where they came within one game of toppling the Celtics, losing at home in the finale.
FAQs About Miami Heat Odds
Who is favored to win the 2024 NBA title?
Sportsbooks currently have the Milwaukee Bucks () and Boston Celtics () as the favorites to win the 2024 NBA title.
What are the odds that the Heat will win the NBA championship this year?
Miami’s market price for winning the NBA championship is .
How likely are the Heat to make the playoffs?
Miami opened the 2023-24 regular season with a market price of -350 at FanDuel. That comes out to 77.8% probability.
Has a Heat player ever won MVP?
Yes. LeBron James won the franchise’s first NBA MVP award in 2011-12 and repeated the next season.
Where do the Miami Heat play?
Miami plays at Kaseya Center, located north of downtown and not far from the famous Miami Beach. It seats about 19,600 fans.
Who owns the Miami Heat?
Mickey Arison has owned the team since 1995.
Who coaches the Miami Heat?
Erik Spoelstra. He took over the team in April 2008 and is the second-longest tenured coach after Gregg Popovich.