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Shai Gilgeous-Alexander scored the decisive points late in a second overtime period as the defending champions started their championship campaign with a narrow win over the visiting Rockets.

Last season's MVP scored a team-high 35 points, including two from the free-throw line with just 2.3 seconds remaining in the second overtime, securing the champions a winning beginning.

The Rockets' big man top-scored with a game-high 39 and also hit a career-high five shots from beyond the arc.

But Chet Holmgren, who contributed 28 points of his own, played a major role alongside the game's hero.

"Determination and defense," Gilgeous-Alexander said of their showing. "We know that when we execute on defence we give ourselves a opportunity no matter what's going on—shots, missed attempts, good luck or misfortune. We did sufficient defence to get the win. We're pretty rusty, but it's a good start."

Before the game, Oklahoma's title banner was raised at their home court, while the squad were presented with their championship rings.

The Thunder defeated the Indiana Pacers in the previous season's best-of-seven NBA Finals. It was their first title since the franchise moved in 2008 to OKC from Seattle, who had claimed the 1979 title.

The Pacers will have the opportunity to get some payback on Friday when they host the Thunder, while the Rockets return to action on the identical day at the Detroit Pistons.

Elsewhere, a huge performance of 43 points, 12 boards and nine assists from the Slovenian star was insufficient to stop his current team the Lakers from suffering a 119-109 defeat against the Warriors.

Miami's star scored 31 points and Stephen Curry chipped in 23 points for the road team.

Los Angeles were missing the league's top scorer James as he is recovering from a back issue.