TORONTO — Here are five observations from the Warriors’ 118-109 loss in Thursday’s Game 1 of the NBA Finals to the Raptors, only their second Game 1 loss of the Steve Kerr era.



1. Elevated competition



Four days before the Raptors popped them by nine in the Finals opener, a prominent member of the Warriors posed a question: “Why the fuck are we such big favorites?”



Vegas had opened with a series line that confused him. You’d have to bet $275 on the Warriors to win $100.



“Did they watch the Blazers series?” he asked.



The Warriors trailed for more time than they led against Portland. They fell down 17, 18 and 17 at separate times in the final three games of that misleading sweep. Thursday’s opener was the fourth straight game they’ve trailed by double-digits.



The Blazers — tired, banged up, newbies to the stage, appearing content to call it a season — bumbled away...