Once the playoff bracket was set, and Miami barely got in to the field as the 8 seed, I gave them just a 0.7% chance to make the Finals, and only 0.1% to win the title. Out of 10,000 simulations, that's roughly 10 wins. That's it.
Their chances are a lot higher now! And their impressive abnormal(?) performance in the postseason necessitates a few assumptions to be changed in my play-by-play simulation of the Finals. I mean, I had them as the worst rated team in the field - and they did have a negative point differential in the regular season!
Per current injury reporting, I'm assuming Tyler Herro comes back for Game 3, while other injuries (like Victor Oladipo) eliminate those players from the series. I'm taking in to account Denver's significant home court advantage, which I've analyzed before, and so has Zach Lowe and others at ESPN.
The final component I had to decide on - do I use regular season data to underpin the model, or each team's postseason performance?
I didn't exactly have Denver as a juggernaut before the playoffs - they were the 4th strongest team in the West, behind Phoenix, Golden State, and Memphis. And when I use regular season only, I get a competitive series, with Denver as a slight favorite:
But the Heat have been on a run for the ages, and their "new normal" is maybe this elevated postseason play. So I reran everything off of playoff statistics only... only to see Denver strengthen:
Denver's chances as the favorite actually increase. My results aren't as aggressive as the betting markets (80%) and FiveThirtyEight, which has Denver as a 74% favorite.
Ultimately I project Denver in 7 (I was wrong last year, when I had Boston in 6).
While Jimmy Butler has been otherworldly, Nikola Jokic has been even more dominant. Here is the projected average box score, using the playoff data as the input:
Jokic averages a triple double in the Finals 52.4% of the time. That's insane. I have him dropping 50+ 2.7% of the time, compared to 0.2% for Butler, and 0.01% for Jamal Murray (no other player recorded 50+ once in any simulation).
Compared to regular season data as the input:
Bam regresses quite a bit using playoffs only, Butler and Murray are both actually quite consistent, but Jokic rocketing up the leaderboard is the difference.