Current NHL Stanley Cup Odds: Favourites & Contenders

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By Jim Tomlin
June 18, 2025 10:25am
Fact Checked by Peter Mooney

The most exciting time of the NHL season is here. Here’s all you need to know about Stanley Cup odds this season. 

Stanley Cup Odds: Current Favourites

The odds for the Stanley Cup Playoffs are changing all the time. If you want to know what the latest odds are saying, you’re in the right place.

🏆 Oilers+650📈
🥇Panthers+700📈
🥈 Stars+900📈
🥉 Hurricanes+900📈
🏒 Avalanche+1000📈
🏑Golden Knights+1200📈
🏒 Lightning+1400📈
🔥Maple Leafs+2000📈

Who is favoured to win the 2026 Stanley Cup?

The Florida Panthers are back-to-back Stanley Cup champions after beating the Edmonton Oilers for the second consecutive season. Now, there is a new crop of contenders to look at. The Oilers are still the top bet, while the two-time champions have the second-best odds. Will anyone else challenge the Oilers or Panthers for the Stanley Cup next season?

Stanley Cup News

  • 📅 The Panthers eliminated Oilers in six games, clinching the Stanley Cup for the second straight season, and eliminating the Oilers again. 
  • 📅 The Oilers eliminated the Stars in five games, advancing to the Stanley Cup for the second consecutive season, and will face the Panthers again.
  • 📅 The Panthers eliminated the Hurricanes in five games, advancing to the Stanley Cup for the third consecutive season, and will now face the Dallas Stars. 
  • 📅 The Panthers eliminated the Maple Leafs in seven games and will now face the Hurricanes for the second time in three years. 
  • 📅 The Stars win an overtime thriller against the Jets to advance to the Western Conference Finals for a second straight showdown with the Oilers.  
  • 📅 The Hurricanes shut down the Capitals in Game 5 to advance to their second Eastern Conference Finals appearance in two years. 
  • 📅 The Oilers shut out the Golden Knights for the second game in a row, clinching a second consecutive trip to the Western Conference Finals with a Game 5 win. 
  • 📅 The Panthers shut out the Maple Leafs to even up their Best-of-7 Second Round Series, with the series shifting back to Toronto. 
  • 📅 The Maple Leafs rally from another deficit to beat the Florida Panthers again, and now hold a 2-0 lead in their Best-of-7 Second Round Series with the defending champions. 
  • 📅 The Jets win an exciting double overtime Game 7 showdown with the St. Louis Blues, rallying from a 3-1 deficit to advance to the Second Round, where they will play the Stars.
  • 📅 The Stars rally from a 2-0 third-period deficit, scoring four goals, thanks to a hat trick from Mikko Rantanen, as the Stars player eliminates the Colorado Avalanche, his former team, to help Dallas advance to the Second Round.
  • 📅 The Oilers win their Best-of-7 First-Round Series against the Los Angeles Kings with a win in Game 6, finalizing a series that saw them come back from a 2-0 deficit. They will play the Vegas Golden Knights in the Second Round. 
  • 📅 The Maple Leafs win their Best-of-7 First-Round Series against the Ottawa Senators, advancing to the Second Round for a battle with the defending champion Florida Panthers. 
  • 📅 The Capitals win their Best-of-7 First-Round Series against the Montreal Canadiens, advancing to the Second Round for a showdown with the Carolina Hurricanes. 
  • 📅 The Hurricanes win their Best-of-7 First-Round Series with the New Jersey Devils 4-1, becoming the first team to advance to the Second Round. 
  • 📅 Stanley Cup odds in March have the Dallas Stars as favourites to win at +650.

Stanley Cup Favourites

There’s a lot that goes into picking Stanley Cup favourites. Sports betting odds, player performance, team synergy, injuries and coaching are all integral factors. Let’s  take a closer look at some of the favourites from each conference:

Western Conference Favourites

Edmonton Oilers

The Oilers have a famed history in the league and are in a good position to win another Stanley Cup this season. Their strong defense, paired with some serious offensive point-scorers, makes for an intimidating combination for any team they face. 

  • ✅ Strengths: The Oilers have one of the strongest offenses in the league, led by three-time Hart winner Connor McDavid and star Leon Draisaitl. They also possess a defense that can hold its own with the best, led by Evan Bouchard. After a faulty first few games, the depth finally arrived in droves, with Zach Hyman and Ryan Nugent-Hopkins exploding for multiple points in Game 6, propelling them to the next round. 
  • ❌ Weaknesses: While having one of the best goal scorers in the league, Edmonton lacks overall depth when putting the puck in the net, with Ryan Nugent-Hopkins and Zach Hyman suffering a dropoff from great campaigns last season. Stuart Skinner struggled mightily to start the playoffs but has rebounded majestically in the Western Conference Final with a .939 save percentage.  

Dallas Stars

The Stars have had an incredible season this year, currently sitting among the top teams in the league. They might not have the top celebrities in the league, but that doesn’t mean they should be discounted. Goalie Jake Oettinger, in particular, plays a reliable game to shut down their opponents. Oettinger will get a good test against the Jets in the Second Round. 

  • ✅ Strengths: The Stars are favorites and near the top of the Central division by having depth at nearly every position, and just got even better with the acquisition of Mikko Rantanen. Oettinger is also one of the best goalies in the NHL. Oettinger was brilliant in Game 3, stopping 27 of 28 shots. They also averaged three goals per game against the Avalanche in their series. 
  • ❌ Weaknesses: One of the Stars' biggest weaknesses is their power play, which finished the season 17th in the extra-man attack. They have had mixed results against the Edmonton Oilers, going 3 for 9 but getting all those conversions in Game 1. 

Eastern Conference Favourites

Florida Panthers

The Panthers have been a formidable force throughout the season. After winning its first Stanley Cup last year, the team has proven its strength and is hungry for another championship victory. Sam Reinhart leads the charge, being among the top goal-scorers in the league this year. 

  • ✅ Strengths: The Panthers averaged 3.8 goals per game, torching the Lightning and Andrei Vasilevskiy in every occurrence except for Game 3. Additionally, their defense was remarkable, holding the NHL's leading scorer, Nikita Kucherov, to four total points while preventing him from scoring any goals. The defense stumbled in Game 1 against the Maple Leafs, allowing five goals, and again in Game 2, allowing four goals, but bounced back over the final five games. 
  • ❌ Weaknesses: The Panthers have not always hit their shots. Despite usually taking the second-most shots in the league, the Panthers ranked just 28th in shooting percentage. So far, it has not been an issue in the playoffs, but it could become one when facing better opponents. 

Carolina Hurricanes

The Carolina Hurricanes are still a top-5 Stanley Cup favourite, even after trading Mikko Rantanen away after an unsuccessful six-week stint. They will ride their special teams. 

  • ✅ Strengths: The Canes have consistently been remarkable on the penalty kill, finishing the season as the best at killing penalties. That will be important as the playoffs roll through. So far, they are perfect, killing all the penalties they have faced in the first two games. They finished their Best-of-7 First-Round Series with the New Jersey Devils by going killing all 15 penalties they faced. They shut down the Capitals in Game 1. 
  • ❌ Weaknesses: Although the Canes have scored many goals, they have struggled on the power play, finishing the regular season just 25th on the extra-man attack. They have also struggled to convert on their shooting opportunities this season, ranking 22nd in shooting percentage. 

Betting Strategies

There are a number of fun ways to bet on the Stanley Cup this year. Different bet types offer bettors ways to focus on different aspects of the game. In this section, we’ll go through all the various bet types so you know what to expect. 

Stanley Cup Futures Bets

While most bets entail betting on events right around the corner, future bets focus on events way down the line. Futures are most popular for major sporting events, like the Stanley Cup final. If you’re interested in betting futures for the Stanely Cup Playoffs, you should get to it sooner rather than later. 

Stanley Cup Moneyline Bets

Moneyline bets are about as simple a bet as you can get. This bet type looks at who will be the outright winner of a match. Choose correctly, and you’ll have yourself a successful bet. 

Stanley Cup Point Spread Bets

You can think of point spreads as more complicated versions of moneylines. In addition to considering which team will win, bettors must decide on the margin of victory for the winning team, which is the spread. 

Stanley Cup Totals Bets

Totals, also known as over/unders, ask bettors to decide whether the total score of the game will be more or less than a number proposed by the sportsbook. Guess correctly, and your bet wins. 

Stanley Cup Player Props

Player props are a fun way to bet on the Stanley Cup without having to think about which team will win the game. Instead, these bets are all about player performance, whether it’s goals scored or penalties. 

Stanley Cup MVP Odds

Betting on the Stanley Cup MVP allows bettors to wager on who they think will be the most valuable player for the tournament. While star players might seem like an obvious pick, long-shots could earn you more winnings if you choose correctly. 

Live Betting Odds For The Stanley Cup

Live betting is an exciting way to wager in real-time. Most bets must be placed before the start of a match, and are finalized once the game is finished. Live betting gives bettors the flexibility to bet at any time while taking into account dynamic odds that change throughout the game. 

NHL Futures Betting

The Stanley Cup are a key focus of NHL futures betting. There are a few particular NHL futures that are particularly popular: 

Outright Winner

If you’re confident in which team will take home the Stanley Cup this season, you can check out betting on the outright winner.  Keep in mind, this bet requires a lot of long-term foresight, as team performance, injuries, and trades can all impact the outcome.

Winner of Each Conference

Betting on conference winners is a fun way to diversify your betting and focus on which teams will make it to the Stanley Cup Finals. It allows you to back a strong contender without needing them to win it all, making it a less risky but still rewarding futures bet.

Winner of Each Division

At an even smaller scale, NHL bettors can wager on which teams will finish on top of their divisions by the end of the regular season. While this is not directly a Stanley Cup Playoffs bet, it could inform your other Stanley Cup bets if you believe certain teams will perform particularly well. 

Which teams will meet in the Stanley Cup

Which two teams will make the Stanley Cup Final is the question one of the main questions on everyone’s minds throughout the NHL season. If you have a dream matchup that you think has a good chance of making it, you can use this kind of future bet to put your instincts to the test. 

Stanley Cup Trends

  • There has not been a dominant conference this century. Since 2000, Western Conference teams have won the Cup 13 times, and Eastern Conference teams have won 13 times.
  • Since 2000, the Tampa Bay Lightning, Pittsburgh Penguins, and Chicago Blackhawks have each won three Cups. The Colorado Avalanche, Detroit Red Wings, New Jersey Devils, Los Angeles Kings, and Florida Panthers have won two Cups, and the Carolina Hurricanes, Anaheim Ducks, Boston Bruins, Washington Capitals, St. Louis Blues, and Las Vegas Golden Knights have won one Cup apiece this century.
  • Over the past 12 seasons, four teams were first-time Cup winners. The Los Angeles Kings (2012), Washington Capitals (2018), St. Louis Blues (2019), Vegas Golden Knights (2023), and Florida Panthers (2024) all won their first Cup.
  • The best team during the regular season rarely wins the Cup. The previous time the best team during the regular season won the Cup was 2012-13, when the Blackhawks did it.
  • Lower seeds pull upsets in the postseason. The Kings are the only No. 8 seed to win the Cup (in 2012), but plenty of other low seeds advance to the Cup Final. Just two seasons ago, the Florida Panthers advanced to the Cup Final after earning the final wild-card spot in the Eastern Conference. In 2017, the Nashville Predators advanced to the Stanley Cup Final as the Western Conference's final wild card.

Stanley Cup Odds History

Its important to look at how betting odds have changed in history and what trends might be similar to this year,

Stanley Cup: Line Moves

The end of the 2024-2025 season saw over 50 line movements leading up to the Stanley Cup. This is a good example of how dynamic and volatile betting lines for the Stanley Cup Playoffs can be. Many things impact lines, including injuries, team performance, trades, coaching style, and more. 

How have odds for previous Stanley Cup winners matched up with their performance?

Hockey is an incredibly dynamic sport, and numerous complex interactions can occur to alter a team’s performance trajectory.  The odds for Stanley Cup winners generally perform well for the top favourites, but keep in mind this is not always the case. For example, the Vegas Knights had +1800 preseason odds of taking the cup in 2023, and went on to win their first championship. Generally, the odds are more reflective closer to the Stanley Cup Playoffs.

From OntarioBets.com

Stanley Cup Odds for Local Teams

Stanley Cup FAQ

The Oilers have the best odds to win the Stanley Cup at +650. Despite losing the Stanley Cup Final to the Panthers for the second straight season, the Oilers still have the best odds to win the Stanley Cup in 2026. 

The Florida Panthers won the Stanley Cup in 2025 in a 4-2 series win over the Edmonton Oilers. The series shifted in Game 5, when the Panthers dominated the Oilers in Edmonton before finishing them off in Game 6 at home.  

There are four rounds, each consisting of best-of-seven games. What does that mean? To win a series, a team has to win four games. The Stanley Cup Final starts in early June. While it is only a Best-of-7 series, with the off days, the Final can last as long as two full weeks.

The Montreal Canadiens are the team that has been crowned Stanley Cup champions the most. The franchise has won the Cup 24 times. The Toronto Maple Leafs are second, with 13, but have not won the trophy since 1967, marking one of the longest droughts in sports. 

The Toronto Maple Leafs have gone 58 years without winning the Stanley Cup. They last won it in 1967. They fell again in the Second Round, and will look to try and bounce back to snap one of the longest droughts in professional sports. 

The Stanley Cup is named after the former Canadian governor-general, Frederick Arthur Stanley. From 1884-86, he had the moniker of "Lord Stanley of Preston" in the Canadian-British colonies, and in 1892, he bequeathed a trophy to the country's best amateur hockey club. In 1909, it was awarded to professional teams in Canada, and, in 1909, as part of the new National Hockey League, it was formally named the Stanley Cup.

The best sites to bet on the Stanley Cup Finals are ultimately up to you, and all of the regulated sportsbooks have well-run sites to bet on the Stanley Cup Futures. OntarioBets.com likes BetVictor and BetMGM for betting on the Stanley Cup.

Author

Jim Tomlin
Jim Tomlin
Ontario iGaming Editor

Jim Tomlin is an editor and writer specializing in sports, gambling and the intersection of those industries. He has 30+ years of journalism experience and his work has appeared in the Tampa Bay Times, FanRag, Saturday Down South and Saturday Tradition.

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