NBA Awards Odds 2023: Favorites, sleepers for Sixth Man of the Year, Most Improved Player, Defensive Player of the Year

With three months left in the 2022-23 NBA regular season, the award races for MVP, Defensive Player of the Year, Sixth Man of the Year, Most Improved Player, and Rookie of the Year are starting to take shape, and the betting markets are reacting accordingly.

Defensive Player of the Year, Sixth Man of the Year, and Most Improved Player tend to fall between the cracks, at least compared to MVP and ROY, but there's value to be had betting on those specific futures markets. As of right now, Jaren Jackson Jr. is the odds-on favorite to win DPOY, Lauri Markkanen is the favorite to win MIP, and Russell Westbrook has played well off the bench for the Lakers this season and is the favorite to win Sixth Man of the Year.

However, these three players might not stay favorites for long, and with plenty of season left, it's worthwhile to look at other legitimate contenders for all three awards. Below, we'll look at the latest odds from BetMGM before breaking down the favorites and top values.

MORE NBA AWARD ODDS: MVP | ROY

NBA Sixth Man of the Year Odds 2023

All odds courtesy of BetMGM

NBA Sixth Man of the Year 2023 Odds: Favorite

Russell Westbrook, Lakers (+115). Westbrook is a slight favorite over Celtics guard Malcolm Brogdon to win Sixth Man of the Year (+175) as we start this month. No one knew how the 34-year-old guard would play or react to coming off the bench this season for the Lakers, but he's surprisingly thriving in the role. The former league MVP is averaging 15.8 points, 7.5 assists, and 6.3 rebounds in 28.7 minutes per game.

These are noticeable lows for Westbrook, but he's giving the Lakers another playmaker off the bench that they need to be competitive. Last season, Heat guard Tyler Herro won the Sixth Man of the Year award, averaging 20.2 points, 5.8 rebounds, and 4.3 assists per game. Herro also shot 43.7 percent from the field and 37.2 percent from three-point range. We shouldn't expect Westbrook to replicate those shooting percentages, but if he can continue to stuff the stat sheet, the money will continue to pour in on him.

NBA Sixth Man of the Year 2023 Odds: Best value bet

Tyrese Maxey, 76ers (+600). At the beginning of the regular season, no one thought Maxey would be in the Sixth Man of the Year conversation, as he was Sixers' starting two-guard. However, Maxey missed 18 games due to injury, leading to De'Anthony Melton taking over. As for Maxey, he's embraced the idea of coming off the bench, which is good news for the Sixers, who are one of the best teams in the East.

In nine games off the bench this season, the former first-round pick is producing 14.7 points per game while shooting 44.3 percent from the field and 35.6 percent from deep. It's a noticeable drop-off from his numbers as a starter (22.5 ppg, 45.3% FG, 39.6% 3pt), but Maxey could make a run at the award, especially if Philly can stay within the top-three seeds in the East. However, keep this in mind, only three players since the 2000-01 season have won the Sixth Man of the Year award at 22 or younger (Herro, James Harden, and Ben Gordon).

Other sleepers to consider for Sixth Man of the Year: Norman Powell, Clippers (+900); Bennedict Mathurin, Pacers (+2500)

NBA Most Improved Player of the Year 2023 Odds

NBA Most Improved Player of the Year 2023 Odds: Favorite

Lauri Markkanen, Jazz (-150). The Most Improved Player of the Year award has been under scrutiny over the past few seasons, especially with Ja Morant winning it last season and Luka Doncic finishing inside the top three back in the 2019-20 season over Devonte' Graham. However, we shouldn't have any issues this season, as it's currently a two-player race between Markkanen and OKC's Shai Gilgeous-Alexander (+135). 

Markkanen has been playing out of his mind in his first season with the Jazz. Many fans and analysts thought that Utah would be in the Victor Wembanyama sweepstakes and possibly trade Markkanen for more assets to help their rebuild. But Markkanen has quieted that noise, as he's averaging career highs across the board with 24.9 points, 8.7 rebounds, and 1.8 assists per game. Markkanen is also on the cusp of a 50/40/90 season, shooting 52 percent from the field, 43.2 percent from three, and 87.5 percent from the free-throw line. It's an impressive stat line for a player who averages 16.8 ppg over his career and could be an All-Star this season.

NBA Most Improved Player of the Year 2023 odds: Best value bet

Jalen Brunson, Knicks (+2500). The former Villanova standout has played well as the Knicks' starting point guard this season, averaging 22.8 points, 6.2 assists, and 3.5 rebounds per game. He also has an offensive rating (ORtg) of 121 (second-highest in his career) and a 4.2 OWS (offensive win shares). 

Even though those stats are impressive, Brunson will need a lot of things to happen for him to win this award. He will need Markkanen and Gilgeous-Alexander to go on cold streaks and/or miss time with an injury. It wouldn't be a shock to see SGA get shut down early as OKC starts to tank, but the Jazz have won enough to keep them at least in the play-in conversation most of the year. If Brunson keeps the Knicks in the playoff picture, he will receive some votes.

Other sleepers to consider for the Most Improved Player of the Year: Tyrese Haliburton, Pacers (+4000); Alperen Sengun, Rockets (+4000)

NBA Defensive Player of the Year Odds 2023

NBA Defensive Player of the Year 2023 Odds: Favorite

Jaren Jackson Jr., Grizzlies (-185). The oddsmakers believe that this is Jackson Jr.'s award to lose, as he's continued to improve and dominate on the defensive end, averaging a league-leading 3.3 blocks per game and is ranking third in overall blocks (114) behind Brook Lopez and Nic Claxton (126). JJJ is that two-way big man that the Grizzlies were hoping for when they drafted him in 2018.

The young power forward is currently third in the entire NBA in defensive box plus/minus (2.6). However, he leads the league in defensive rating (DRtg) with 103.6 and is first in block percentage (10.8). It's been a stellar season for Jackson Jr., but he will have some competition for the award, as Claxton (+350) has been a nice surprise in the middle for the Nets this season. There's no value in betting on Jackson Jr. at -185 until there's a slip in his defensive metrics over the next few weeks.

NBA Defensive Player of the Year 2023 Odds: Best value bet

Brook Lopez, Bucks (+1000). Lopez had early momentum for Defensive Player of the Year after a hot start that saw him post defensive ratings of 102 and 107 in October and November. Nevertheless, the veteran center was overtaken by Jackson Jr., Adebayo, and Claxton.

However, at his current 10/1 odds, Lopez isn't a bad bet for the award, as he's ranked near the top in a few noticeable categories. For starters, he's tied for the league lead in blocks (126) with Claxton and ranked third in blocks per game (2.5). The 34-year-old big man is also ranked fifth in block percentage (6.9) and has a defensive rating (DRtg) of 109. Unlike Jackson Jr., Lopez often gets overshadowed by a teammate on defense (Giannis Antetokounmpo), but bettors should keep an eye on him to hopefully move up the board by the All-Star break.

Other sleepers to consider for Defensive Player of the Year: Giannis Antetokounmpo, Bucks (+3300); Evan Mobley, Cavaliers (+5000)