The Miami Heat are the No. 1 seed in the Eastern Conference, but being listed as an underdog in the series has not fared well for similar teams in the past.
The Celtics are the No. 2 seed, but a -185 favorite to win the series over the Heat at BetMGM. Miami is +150 to advance to the NBA Finals.
Historically, No. 1 seeds needing an "upset" to advance has not worked out.
Since 1990, No. 1 seeds listed as betting underdogs in the series are just 4-15 overall. Top seeds in this situation have lost nine consecutive series going back to 2003.
It gets even harder once teams reach the Conference Finals or Finals. Just once in 15 tries has an underdog No. 1 seed won a series when the Jazz beat the Lakers in the 1998 Western Conference Finals.
The last time this happened was in the 2018 Western Conference Finals. The top-seed Houston Rockets lost a 3-2 series lead to the Golden State Warriors. Of course, Chris Paul was injured and missed the final two games of the series, which was a major factor.
In the 2017 Eastern Conference Finals, the Celtics were the higher seed, but lost to LeBron James and the Cavaliers in five games.
This is the first time the Heat have been in this spot as the top seed, but Miami beat the Chicago Bulls in the 2011 Eastern Conference Finals as the betting favorite. The Big Three of LeBron, Dwyane Wade and Chris Bosh beat Derrick Rose's No. 1 Bulls in five games.
How No. 1 Seeds Have Performed as Underdogs in the Playoffs
Data via BetLabs
| Year & Round | Higher Seed | Lower Seed | Higher Seed Result |
|---|---|---|---|
| 2022 ECF | Heat | Celtics | ? |
| 2018 WCF | Rockets | Warriors | L |
| 2017 ECF | Celtics | Cavaliers | L |
| 2015 ECF | Hawks | Cavaliers | L |
| 2014 ECF | Pacers | Heat | L |
| 2013 WC Semis | Thunder | Grizzlies | L |
| 2011 ECF | Bulls | Heat | L |
| 2005 WCF | Suns | Spurs | L |
| 2004 WCF | Timberwolves | Lakers | L |
| 2003 ECF | Pistons | Nets | L |
| 2003 EC Semis | Pistons | Sixers | W |
| 2003 WC Semis | Spurs | Lakers | W |
| 2002 Finals | Nets | Lakers | L |
| 2002 WCF | Kings | Lakers | L |
| 2001 Finals | Sixers | Lakers | L |
| 2001 WCF | Spurs | Lakers | L |
| 1998 WCF | Jazz | Lakers | W |
| 1995 EC Semis | Magic | Bulls | W |
| 1993 Finals | Suns | Bulls | L |
| 1993 ECF | Knicks | Bulls | L |
