The fact that the Los Angeles Lakers didn’t earn a playoff spot in the regular season and barely escaped an upset at the hands of the Golden State Warriors in the play-in tournament hasn’t affected the team’s perceived title chances. L.A. is still favored to reach the 2021 NBA Finals, and they are a historic first-round favorite.

The Lakers are the first No. 7 seed in at least 30 years to be favored over the No. 2 seed in a postseason series, according to ESPN. Los Angeles opened as a -300 favorite at Caesars William Hill to beat the Phoenix Suns in their upcoming best-of-seven series.

The odds moved slightly Thursday morning. The Lakers have -270 to beat the Suns. Phoenix is a +220 underdog to win the series.

Only the 2003 Lakers and 1995 Chicago Bulls have been bigger favorites in a playoff series without home-court advantage. Both of those teams were No. 5 seeds and advanced to the next round.

A No. 8 seed has never been favored over a No. 1 seed.

Only four teams seeded No. 7 or No. 8 have ever won a best-of-seven first-round series. The last such upset happened nine years ago when reigning MVP Derrick Rose got hurt and his Bulls were upset by the Philadelphia 76ers.

These Lakers are no typical No. 7 seed. Los Angeles fell down the standings after Anthony Davis and LeBron James suffered injuries and missed a combined 63 games.

Including Wednesday’s win over the Warriors, the Lakers are 31-15 when James plays. That .673 winning percentage would’ve been good enough to make L.A. the West’s No. 3 seed over the course of a full regular season.

The Suns won more than 70% of their games and finished a game behind the Utah Jazz for the best record in the NBA. Chris Paul could finish as a top-five MVP contender. Devin Booker is an All-Star and leads the team with 25.6 points per game.

Phoenix snapped one of the league’s longest playoff droughts after missing the postseason in 10 straight years. Los Angeles is coming off a championship run, and James is still the NBA’s best player when healthy.

The Suns beat the Lakers twice in three tries during the regular season. Davis missed one loss, while both he and James didn’t play in the other defeat.

There is speculation that James still hasn’t fully recovered from the high ankle sprain that cost him 27 games. If both he and Davis are close to 100%, the Lakers will be tough to beat.

The Lakers are +200 favorites to win the West. The Los Angeles Clippers are their biggest competition at +240.

The Jazz are third in the West with +300 odds. The Suns are relative long shots to reach the NBA Finals at +800.

Steph Curry LeBron James
LOS ANGELES, CALIFORNIA - JANUARY 18: LeBron James #23 of the Los Angeles Lakers is guarded by Stephen Curry #30 of the Golden State Warriors during the first half at Staples Center on January 18, 2021 in Los Angeles, California. (Photo by Harry How/Getty Images)
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