Gilbert, owner Dan Gilbert's bowtie-wearing son, was on stage for another the victory. After he won it in 2011, the Cavs used the pick to take eventual Rookie of the Year Kyrie Irving.
The Orlando Magic fell back one spot to No. 2, while the Washington Wizards vaulted from the No. 8 spot to third.
Ten years after winning the lottery that landed them LeBron James, the Cavaliers picked up another opportunity to help speed up the rebuilding process since his departure to Miami in 2010.
The potential No. 1 pick this year, Kentucky freshman Nerlens Noel, is no James. But he could be a nice addition for the Cavs once he's recovered from a torn ACL — if they keep the pick.
Dan Gilbert and the rest of the Cavs entourage — all wearing bowties as well — celebrated their latest victory, which came with 15.6 percent odds after they finished with the NBA's third-worst record at 24-58.
Dan Gilbert called Nick, born with Neurofibromatosis (NF), a nerve disorder that causes tumors to grow anywhere in the body at any time, his “hero” after the 2011 win.
Nick wore a stern look before this one, saying he expected he was done coming here and that he believed the Cavs would be in the playoffs next season.
They got a nice jump on that goal.