The NBA remains on break for most of this week following its annual All-Star Game, and many of the biggest sportbooks in the industry have taken this time to update their futures odds to win the Eastern and Western Conferences as well as this season's NBA Championship.

The competition in all three races is as tight as it has been in a number of seasons, so it definitely pays to shop the odds in search of the best value on the board. I have turned my attention to the latest NBA futures betting odds withBovada, 5Dimes and Sportsbook.ag.

Eastern Conference Futures

The minute that LeBron James decided to return to Cleveland, the Cavaliers were immediately opened as favorites to win the East this year. It has been an up-and-down climb for this team through most of the first half of the regular season, but King James and Co. are starting to finally find that championship form with 14 SU wins in their last 16 games heading into the break. Bovada has listed the Cavs at +110 favorites to win the East, but you can get slightly better odds with Sportsbook.ag at +120, and the best value on the board is with 5Dimes at +135.

The Atlanta Hawks have been the best team in the East at 43-11, and they show no signs of letting up with a 6.5-game lead over Toronto in the standings heading into the second half of the season. The big question with this team is how it will hold up through the grind of the playoffs to go on and actually win the conference. Bovada has the Hawks listed as +225 second-favorites to win the East, but if you are looking to expand the value you can go with Sportsbook.ag at +250 or 5Dimes at +255.

Many NBA experts are still touting Chicago has the team to beat in the East once the playoffs get underway. The Bulls went into the break riding a SU four-game winning streak, including a huge win over Cleveland last Thursday, and they are nine games off the pace at 34-20 for the top seed in the conference. Their odds to make it into the NBA Finals by winning the East are +360 with Sportsbook.ag as third-favorites. The betting odds jump to +400 with Bovada, but the best value with this team is with 5Dimes at +410.

Western Conference Futures

The Golden State Warriors have set the pace in the Western Conference all season long, and at 42-9 they have opened a four-game lead in the standings. This is another team that has question marks on how it will hold up once the playoffs get underway, but the Warriors remain the favorite to win the West right across the board. Bovada has listed Golden State as a +190 favorite on its latest board, but you can get +220 betting odds with both Sportsbook.ag and 5Dimes.

The defending-champion San Antonio Spurs have been flying pretty low under the radar all season long, and, heading into the All-Star break, they are in seventh place in the standings at 34-19. You can't help but think that they are saving their energy for when the games really count, but the Spurs have shown flashes of making a move right now with a SU 7-3 record in their last 10 games. San Antonio remains a solid second-favorite to win the West with all three books, but the top value is with Bovada at +475. The betting odds for the Spurs with 5Dimes are +430, and they drop to +400 with Sportsbook.ag.

Memphis is currently in second place in the West at 39-14 and moving right along at 8-2 SU in its last 10 games. This is another team that does not have a wealth of experience playing in the later rounds of the conference playoffs, but the Grizzlies still offer some solid value as the third-favorite to win the West with all three books. They are actually even with Oklahoma City on Bovada's board at +500, and they have the same +500 betting odds with Sportsbook.ag. The best value of the three books for Memphis is with 5Dimes at +575.

NBA Championship Futures

When it comes to winning this season's NBA title, Cleveland is the at the top of the list with both Sportsbook.ag and 5Dimes at +400, but Bovada is going with Golden State as its favorite at +300. The betting odds for the Cavaliers with Bovada stand at +375, and you can currently get the Warriors as +415 second-favorites with 5Dimes. The best value on the board for Golden State is with Sportsbook.ag at +450.

Things drop off from there with Atlanta as a +750 third-favorite with both Bovada and Sportsbook.ag. The Hawks' betting odds with 5Dimes to win it all are set at +700, but San Antonio is actually third on its list at +550. The Spurs odds with Bovada are set at +800 along with Oklahoma City and Chicago. Sportsbook.ag also has the defending champs listed at +800, with the Bulls next on the list at +850 followed by the Thunder at +1100.

The Grizzlies betting odds to win this year's NBA Championship stand at +1000 with Bovada and at +1200 with 5Dimes and Sportsbook.ag.

Read more articles by Dave Schwab