Stanley Cup Odds & Favorites 2025: Oilers Back on Top; Hurricanes, Panthers, Stars Chasing
The Edmonton Oilers are the Stanley Cup odds favorites. Sounds like déjà vu, right?
The main difference is that this time, Edmonton deserves its favorite status based on play and not just reputation and potential. Then again, our best NHL betting sites knew the Oilers had too much quality to remain in a comatose state.
They've won eight of the last 10, which would have been nine had Stuart Skinner not laid an egg against the defending champ Florida Panthers.
Speaking of the defending champs, they are among the chasing pack with the Carolina Hurricanes and Dallas Stars. None of those teams are playing particularly well, but that should change soon.
Stanley Cup odds 2024-25
Here are some noteworthy takeaways from the odds thus far:
- The Washington Capitals are finally seeing dividends in their Stanley Cup odds, which shortened from +3000 to +2000 at BetMGM
- The Winnipeg Jets have steadied the ship, and their odds remain stable at +1800
- Connor McDavid, one of the Hart Trophy odds front-runners, is scoring 1.89 points per game since returning from an injury on Nov. 6, the most with at least 15 games in that stretch
- The New York Rangers' odds have decreased from +1100 to +2200 thanks to a disastrous skid in which they lost 10 of 13
Stanley Cup favorites 2024-25
Oilers (+850)
Don't wake a hibernating bear. That adage doesn't really jive with the Oilers, who have finally awoken naturally after oversleeping by a couple of months.
The McDavid-led Oilers have won eight of their last 10 and five of six at home. It's not just the results but how the team is playing that will inject confidence.
Aside from his lackluster outing against the Panthers, Skinner has shown excellent improvement. The Oilers are a top-10 club on defense; they score more often and finish on chances with more ruthlessness.
Zach Hyman is getting hot, Leon Draisaitl has the most goals and is the Rocket Richard Trophy odds favorite, McDavid is doing what he always does, and the team has seen an uptick in secondary scoring.
I've sung this team's praises since spring last season, and they possess everything - aside from an elite goaltender - needed to do one better than that heartbreaking result in Florida. The Oilers are 6-2-1 in their last eight road games and are tied with the Toronto Maple Leafs and New Jersey Devils for the second-best overall points percentage (.690) since Oct. 30.
Their odds have shortened, too, which will probably be the theme going forward, at least to some extent. They moved from +1000 to +850 at Caesars over the last seven days.
Best odds: +850 via Caesars | Implied probability: 10.53%
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My Stanley Cup team to watch
Capitals (+3000)
I still believe in the Jets' Stanley Cup pedigree, but the Capitals must be featured.
Their +3000 odds represent the best Stanley Cup futures value. Spencer Carbery, the Jack Adams odds favorite, has done a masterful job pulling the strings in his first year as the team's head coach.
The Caps were thrown a T-Rex-sized bone last season and stumbled into the playoffs with a minus-36 goal differential (the worst in 33 years). Now, they are tied with the Jets for the best goal differential (plus-36) over two months into the season.
Washington is even excelling without the Great 8, winning eight of the last 10 in their captain's absence. Dallas finally snapped their streak of 10 straight road wins, which set a franchise record.
Their odds are finally seeing the movement expected from a club with the league's best points percentage (.733). The Caps' Stanley Cup odds shortened from +3000 to +2000 at BetMGM over the last seven days, and a similar scenario is taking shape across our best sportsbooks.
ESPN currently offers the best price on the Caps, where a winning $10 bet would profit $300.
Best odds: +3000 via ESPN Bet | Implied probability: 3.23%
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Projected 2025 NHL Draft order
There's a quick caveat to the NHL Draft order, as the team that finishes last in the standings doesn't automatically get the No. 1 draft pick. The NHL draft lottery features the 16 teams that do not make the Stanley Cup playoffs.
Teams can move as many as 10 spots up the NHL draft order compared to where they finished in the regular season standings.
Therefore, 11 teams are in the mix for the No. 1 pick. However, the last-placed team is more likely to secure the first pick.
*Teams in the running for the No. 1 pick
| Pick | Team |
|---|---|
| 1 | Nashville Predators* |
| 2 | Chicago Blackhawks* |
| 3 | San Jose Sharks* |
| 4 | Montreal Canadiens* |
| 5 | Buffalo Sabres* |
| 6 | Anaheim Ducks* |
| 7 | Detroit Red Wings* |
| 8 | Columbus Blue Jackets* |
| 9 | New York Islanders* |
| 10 | Pittsburgh Penguins* |
| 11 | Seattle Kraken* |
| 12 | Philadelphia Flyers |
| 13 | St. Louis Blues |
| 14 | New York Rangers |
| 15 | Ottawa Senators |
| 16 | Colorado Avalanche |
| 17 | Boston Bruins |
| 18 | Utah Hockey Club |
| 19 | Calgary Flames |
| 20 | Tampa Bay Lightning |
| 21 | Edmonton Oilers |
| 22 | Vancouver Canucks |
| 23 | Florida Panthers |
| 24 | Dallas Stars |
| 25 | Toronto Maple Leafs |
| 26 | Carolina Hurricanes |
| 27 | Los Angeles Kings |
| 28 | New Jersey Devils |
| 29 | Vegas Golden Knights |
| 30 | Winnipeg Jets |
| 31 | Minnesota Wild |
| 32 | Washington Capitals |
Stanley Cup odds history
| Year | Team | Preseason odds |
|---|---|---|
| 2024 | Florida Panthers | +2000 |
| 2023 | Vegas Golden Knights | +1800 |
| 2022 | Colorado Avalanche | +600 |
| 2021 | Tampa Bay Lightning | +900 |
| 2020 | Tampa Bay Lightning | +675 |
| 2019 | St. Louis Blues | +3000 |
| 2018 | Washington Capitals | +1125 |
| 2017 | Pittsburgh Penguins | +1100 |
| 2016 | Pittsburgh Penguins | +1300 |
| 2015 | Chicago Blackhawks | +700 |
| 2014 | Los Angeles Kings | +1200 |
Stanley Cups won by division
Here's a look at the number of Stanley Cups won by division since the NHL adopted the four-division format for the 2013-14 season.
| Division | Stanley Cups won |
|---|---|
| Atlantic | 3 |
| Metropolitan | 3 |
| Central | 3 |
| Pacific | 2 |
NHL teams with the most Stanley Cups
| Team | Stanley Cup wins | Stanley Cup appearances |
|---|---|---|
| Canadiens | 24 | 35 |
| Maple Leafs | 13 | 21 |
| Red Wings | 11 | 24 |
| Bruins | 6 | 20 |
| Blackhawks | 6 | 13 |
| Oilers | 5 | 7 |
| Penguins | 5 | 6 |
| Islanders | 4 | 5 |
| Rangers | 4 | 11 |
| Avalanche | 3 | 3 |
| Devils | 3 | 5 |
| Lightning | 3 | 3 |
How to read Stanley Cup odds
Stanley Cup odds reflect the probability of each NHL team winning the championship and are typically presented in American odds format (+XXX). Lower odds signify a higher probability, while higher odds indicate a lower probability.
For example, a $100 bet at +500 odds would win you $500, plus your original $100 stake, totaling $600.
A team with +750 odds to win the Stanley Cup is given an 11.76% implied probability of doing so with a $100 winning bet returning a $750 profit, plus your $100 stake ($850 total).
A team with +1500 odds would have higher or longer odds, and a lower implied probability of 6.25%, but a win on a $100 bet would return a profit of $1,500 if it hits.
How to bet on Stanley Cup futures odds
There are many facets to take into consideration when making your Stanley Cup futures bet or bets, including the following:
Roster and personnel updates: Injuries, suspensions, and, to a lesser extent, hot and cold streaks of a team's most influential players all impact a team's Stanley Cup futures odds. Also, make sure the roster isn't too old or too young. Both can have severe implications in the playoffs.
Playoff experience: It's best to back a team with players suited for the NHL playoffs or a wealth of playoff experience. For example, Matthew Tkachuk is born to play in the postseason, usually elevating his level at the most meaningful time of year.
He has all the attributes required to thrive in the playoffs, including an ability to handle, even dominate, the physical rigors of a two-month postseason run.
The Vancouver Canucks were one of the 2023-24 Stanley Cup favorites midway through last season. However, they had a palpable lack of playoff experience, with only two players who'd previously won a Stanley Cup. Avoid backing teams like that as your futures pick.
Compare sportsbook prices: Find the sportsbook offering the best value on your Stanley Cup futures pick. Also, lock your pick in when you feel the odds are at their highest.
For example, if you believed in the Edmonton Oilers throughout the 2023-24 season, regardless of form, it would have been best to place the wager when the team fired former head coach Jay Woodcroft.
That was when they hit rock bottom, which would have yielded longer odds and a higher potential return.
Stanley Cup Final FAQs
Who is the Stanley Cup Final favorite?
The Edmonton Oilers are the 2024-25 Stanley Cup odds favorites. Their best odds stand at +850, representing an implied win probability of 10.53%, according to our odds converter.
Who won the Stanley Cup last year?
The Florida Panthers defeated the Edmonton Oilers in seven games, winning 2-1 in Game 7 on home ice to claim the Stanley Cup last year.
When do the NHL playoffs start?
The NHL playoffs began on Saturday, April 20, 2024. Expect them to start around the same time this season.
When does the Stanley Cup Final start?
The 2024 Stanley Cup Final began Saturday, June 8 and finished on June 24. Those are rough dates to expect the 2024-25 final to be played.
Has a team ever come back from 3-0 to win the Stanley Cup?
The 1942 Toronto Maple Leafs rallied from a 3-0 deficit to topple the Detroit Red Wings and win the Stanley Cup, becoming the only professional North American sports franchise to pull off that feat.
The Edmonton Oilers forced Game 7 in the 2023-24 Stanley Cup Final, but lost 2-1 on the road.
When does the 2024-25 NHL regular season start?
The regular season will officially begin on Oct. 4, 2024, when the Buffalo Sabres and New Jersey Devils play the first of two games in Prague.
Florida will begin its season against Boston on Oct. 8, 2024, the first night of regular-season hockey on North American soil.
When was the last back-to-back Stanley Cup winner?
The Tampa Bay Lightning won back-to-back Stanley Cups in 2020 and 2021. Previously, the Pittsburgh Penguins won it in 2016 and 2017, and the Detroit Red Wings in 1996 and 1997.
When was the last three-peat?
The New York Islanders were the last team to win the Stanley Cup in three successive seasons. They won four in a row from 1980 to 1983.
NHL betting odds pages
| Stanley Cup Odds | Hart Trophy Odds | Calder Trophy Odds |
| Norris Trophy Odds | Vezina Trophy Odds | Rocket Richard Odds |
| Jack Adams Award Odds | Conn Smythe Trophy Odds | NHL Draft Odds |
Here are our best NHL betting sites:
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