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2023 NBA In-Season Tournament: Odds and how to watch must-see inaugural tournament

The 2023-24 NBA season has tipped off, bringing with it a host of changes and new opportunities. This year, all 30 NBA teams will take part in the inaugural NBA In-Season Tournament, which begins on Friday, Nov. 3 and runs through Dec. 9.

This tournament is a new yearly competition for 30 teams starting with the 2023-24 NBA season and will feature a format that is similar to European soccer competitions, consisting of a group stage, knockout round, semi-finals, and a final, which will take place at the T-Mobile Arena in Las Vegas.

The victorious team of the first-ever tournament will be awarded $500,000 for each player and the newly created NBA Cup, which they can add to their trophy collection. An MVP award and All-Tournament team will also be named at the end of the tournament. Here is an explanation of how the new tournament will work.

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How to watch the in-season tournament

ESPN and TNT will broadcast 14 Group Play games and seven Knockout Round games. The remaining matchups can be watched on NBA League Pass.

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NBA In-Season Tournament Betting odds

The NBA In-Season Tournament betting odds have the Celtics, Bucks and Nuggets listed as favorites, according to DraftKings basketball odds.

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Odds: Top-10 Favorites:

How the In-Season Tournament works

Group play

The upcoming In-Season Tournament will feature a total of 30 NBA teams who will be divided into five groups within their respective conferences based on their regular season record from the 2022-23 season.

Each team will play four games in the Group Play stage, one against each opponent in their group, on designated “Tournament Nights”. The Tournament Nights will be scheduled every Tuesday and Friday from November 3 to November 28, except for November 7 when no games will be played.

The Group Play stage will consist of two home and two away games for each team. These games will also count towards the regular season standings.

The top teams from the six Group Play stage will advance to the Knockout Rounds, with their standings based on their record.

The second-place teams in Group Play with the best record will be awarded one wild card for each conference and will advance to the Knockout Rounds.

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NBA In-Season Group Play breakdown

Western Conference:

Group A: Memphis Grizzlies, Phoenix Suns, LA Lakers, Utah Jazz, Portland TrailBlazers

Group B: Denver Nuggets, LA Clippers, New Orleans Pelicans, Dallas Mavericks, Houston Rockets

Group C: Sacramento Kings, Golden State Warriors, Minnesota Timberwolves, Oklahoma City Thunder, San Antonio Spurs

Eastern Conference:

Group A: Philadelphia 76ers, Cleveland Cavaliers, Atlanta Gawks, Indiana Pacers, Detroit Pistons

Group B: Milwaukee Bucks, New York Knicks, Miami Heat, Washington Wizards, Charlotte Hornets

Group C: Boston Celtics, Brooklyn Nets, Toronto Raptors, Chicago Bulls, Orlando Magic

Knockout Round

The Knockout Round features single-elimination games, with the winners advancing to the quarterfinals scheduled for Dec. 4 and Dec. 5. The quarterfinals, semifinals, and championships will all be played in a single-elimination format.

The winners of the quarterfinal matchups will play a semifinal game at a neutral venue on Dec. 7, and the championship will take place at the T-Mobile Arena in Las Vegas on Dec. 9.

New threads for the tournament

Nike and the NBA have launched NBA In-Season Tournament custom uniforms that are described to showcase the unique stories, history and heritage of each franchise.

“It’s fitting that our 2023-24 Nike NBA City Edition uniforms will make their on-court debut during our inaugural NBA In-Season Tournament, as teams build upon the moments that define their franchises through their quest for the NBA Cup,” said Christopher Arena, Head of On-Court and Brand Partnerships at the NBA.

According to the official release, the uniforms will be available for sale at NBAStore.com, Nike.com and selected retailers globally.

More: As the NBA's in-season tournament starts, what you need to know – from schedules to prizes

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This article originally appeared on USA TODAY: NBA In-Season Tournament: Odds, how to watch, and more crucial info