A few months ago, I vividly remember having a few conversations with the homies about the chances of having a 2011-12 NBA season, with the shenanigans of the lockout looming. With three days until Christmas day, every basketball fan is getting the present they always wanted: NBA basketball.

Per the folks at GR88.com, they released the odds on who will win the 2011-12 NBA championship. Here are five things to consider while looking at these odds (and considering making illegal bets online on things like this.) Oh, that’s just me; okay. Nothing to see here.

*Quick Note: For novice bettors, the American odds system works like this. The Miami Heat are +225 to win the title, meaning you would have to wager $100 to win $225. You know, if betting online were legal. Wait, what? Nothing to see here.*

1. The Dallas Mavericks command no respect from Vegas:  Somehow fleecing your conference rival for one of their key big men, acquiring a former all-star wing and a savvy playoff-tested guard, all while being the defending NBA champs, doesn’t command the respect that one would expect. Yet, the Dallas Mavericks aren’t even the leading candidate to emerge out the West in their own division (Mavs +1000 to win the title.)

2. Vegas is counting on delusional Los Angeles Lakers fans  to be stupid: That Lakers (+450) bet would suggest that Vegas believes either A) the Lakers will either figure out a way to improve their roster, or B) they think they are Dan Gilbert and are asking the betting public to “trust them.” Unless you believe the Lake Show will pull off a blockbuster trade (which I don’t think they have the assets to do so), then stay away from this.

3. Take $10 and potentially come up on some Jordan’s, a flight to Vegas or your rent money: If betting were legal online, which it isn’t, I’d play $10 to get those Concord’s on the New York Knicks (+1900, $10 pays $190), I’d get a flight to Vegas on the Rudy Gay back Memphis Grizzlies (+3300, $10 pays $330) and my house note on the scrappy-but-dope Indiana Pacers (+7900, $10 pays $790.)

4. One time for crappy teams: If the Cleveland Cavaliers, by some miracle in Kyrie Irving’s soul, won the NBA title and I had the gall, the nerve, the audacity to bet $100 on them to win it all. I’d win roughly $25,000. However, my hatred for Dan Gilbert would never allow me to actually make that bet. In fact, there’s a chance I’ll bet against the Cavaliers in every single game this season. I’m just hateful like that.

5. Start drinking Russian Vodka: The Brooklyn New Jersey Nets (+5900) could be the biggest sleeper here. The bet would have to be predicated on your belief that the big Russian will try and Drago the Orlando Magic to get Dwight Howard. Regardless of any other piece they give up, technically the Nets will have cap room left over. Plus, what would be a better alley-oop combo? CP3 to Blake or D-Will to D12? Either way, the Light Skinned Coalition wins.

GR88.com’s Odds To Win the NBA Championship

Miami Heat +225

Los Angeles Lakers +450

Chicago Bulls +600

Oklahoma City +740

Dallas Mavericks +1000

Boston Celtics +1500

New York Knicks +1900

Los Angeles Clippers +2100

Orlando Magic +2400

Portland Trail Blazers +2900

Memphis Grizzlies +3300

San Antonio Spurs +3300

Atlanta Hawks +4900

New Jersey Nets +5900

Houston Rockets +5900

Denver Nuggets +6900

Indiana Pacers +7900

New Orleans Hornets +9900

Milwaukee Bucks +9900

Phoenix Suns +9900

Utah Jazz +9900

Philadelphia 76ers +9900

Golden State Warriors +11900

Sacramento Kings +14900

Washington Wizards +14900

Charlotte Bobcats +14900

Minnesota Timberwolves +19900

Detroit Pistons +24900

Cleveland Cavaliers +24900

Toronto Raptors +29900

*Big ups to the folks at GR88.com for the assistance on this post, and be sure to check their NBA Championship Odds and other relevant sportsbook releases.*