The opening day of the WNBA's free agency period witnessed a significant transaction that sent ripples across the league, particularly impacting championship aspirations and betting odds. The Atlanta Dream made a high-profile move by acquiring two-time All-Star Angel Reese and a 2028 second-round pick swap from the Chicago Sky. In exchange, the Sky received first-round draft picks in 2027 and 2028, signaling a strategic shift for both franchises.

This blockbuster trade immediately and dramatically altered the Atlanta Dream's championship outlook. According to ESPN Research, the Dream's odds shortened from an initial 18-1 to 10-1, and further improved to +900 shortly after the announcement. This marks a substantial improvement from their earlier offseason odds, which stood as long as 25-1. However, despite this considerable boost, the Atlanta Dream remain just outside the elite tier of true championship contenders, as indicated by the current betting odds.

The landscape of WNBA championship favorites is led by the reigning champions, the Las Vegas Aces, who are positioned at +340. Trailing closely behind are the Indiana Fever at +380. The perennially strong Minnesota Lynx are listed at +400, followed by the New York Liberty at +475. Last season's runners-up, the Phoenix Mercury, now rank sixth at 13-1, having been surpassed by the Atlanta Dream in the latest odds adjustments. This highlights the competitive nature of the league and the immediate impact of key player movements.

Further down the board, the odds also shed light on the league's newest additions and rebuilding efforts. The expansion teams, Toronto Tempo (250-1) and Portland Fire (300-1), are considered long shots, though not the longest, perhaps drawing inspiration from the overachieving Golden State Valkyries, who defied expectations with 40-1 odds in their inaugural 2025 season. Conversely, the longest odds are currently assigned to the rebuilding Chicago Sky (400-1), who parted ways with Reese, and the Connecticut Sun (500-1), a franchise set to relocate to Houston after the upcoming season. All odds mentioned are provided by DraftKings Sportsbook and are subject to change, reflecting the dynamic nature of sports betting and team performance expectations.