The NHL preseason is finally here. Opening night is just around the corner and the Stanley Cup odds market continues to evolve at the top of the board. This page will be your source for Stanley Cup odds all season long. We track how the board has evolved starting in the offseason, to the final puck drop. Read recaps on every team and shop around for the best Stanley Cup prices.
Colorado and Boston originally opened as +800 co-favorites. But after making impact splashes in free agency, the Carolina Hurricanes have taken over at the top, priced as low as +700. Shopping around for the best price has never been more important than right now, as Colorado remains the favorite at a variety of other sportsbooks, while Carolina can be found as high as +1100. Toronto remains priced as low as +900 and as high as +1100, while New Jersey and Edmonton have a similar range of prices. Shop around across the best sportsbooks in the US below, and find a preview of each team as we head into a new season.
View live odds to win the Stanley Cup for every NHL team below.
Stanley Cup odds
Check out updated Stanley Cup odds for every team in pro hockey below. The Colorado Avalanche (+800) opened as the NHL favorite to win it all in 2024.
Stanley Cup Odds: The Favorites
Colorado Avalanche
After winning the 2022-23 Stanley Cup, the Avalanche were favorites to repeat right up until their first-round exit to the Kraken. And despite a less-than-impressive regular season followed by the first-round flop, the market is still in love with the talent on Colorado’s roster despite a quiet free agency period. The Avs re-signed Andrew Cogliano and Jack Johnson but said goodbye to J.T. Compher, Evan Rodrigues, Alex Newhook, Erik Johnson, and Lars Eller.
Carolina Hurricanes
The Hurricanes led the NHL in 5-on-5 xGF% by a wide margin at 59.88% last season. They also return their entire core that nearly made it to the Stanley Cup final despite not having Andrei Svechnikov. Carolina put its extensive cap space to use early in free agency, inking defender Dmitry Orlov, forward Michael Bunting, and re-signing goalie Antti Raanta.
Toronto Maple Leafs
After winning a playoff series for the first time in over a decade, the arrow appears to be pointing up for the Maple Leafs. Toronto will retain the majority of its star-studded roster and added a big fish in free agency nabbing forward Tyler Bertuzzi.
Edmonton Oilers
The Oilers are repeatedly priced higher than they should be due to the combination of perennial points leaders Leon Draisaitl and Connor McDavid. As lethal as those two are, Edmonton never has enough depth or puck-preventing talent to transform the team into a Cup contender.
New Jersey Devils
The Devils had an incredible regular season ranking second in 5-on-5 xGF rate and fourth in net goals per 60 minutes. New Jersey’s +65 goal differential ranked second only to Boston. While New Jersey lacks an elite goaltender, they have cap space to spend and started using it by resigning Timo Meier for eight years with an $8.8 million cap hit.
Stanley Cup Odds: The Contenders
Vegas Golden Knights
Only four franchises have won consecutive Stanley Cups and it has not been done since the Detroit Red Wings won in 1997 and 1998. The Golden Knights have the benefit of playing in the relatively weaker Western Conference and didnt’ lose any impact players to free agency. Vegas is moving on from Reilly Smith, trading him to the Penguins for a 3rd round pick. The Golden Knights did not make any major additions in free agency.
Dallas Stars
The Stars had an impressive run this past season and should be primed for another successful season. Max Domi is their only key contributor who left via free agency, signing with Toronto. But Dallas added one of the most impactful free agents signing star center Matt Duchene. The Stars also added 25-year-old former first-rounder Sam Steel, who the Wild could not afford, as well as veteran Craig Smith.
New York Rangers
The Rangers had one of the best regular seasons in the NHL last year, ranking 5th in goal differential at +58. But despite adding Vladimir Tarasenko and Patrick Kane at the trade deadline, NYR could not make it past the first round of the playoffs. Kane and Tarasenko remain free agents, and Alexis Lafreniere is an RFA. The Rangers have made a handful of veteran signings so far, but no true impact additions have been made.
Boston Bruins
In its dominant 2022-23 season, Boston had a net goals advantage of +1.41 at 5-on-5, which was nearly double the second-place team at +0.76 (Seattle Kraken). However, Patrice Bergeron has retired and Boston was forced to clear up cap space by trading Taylor Hall to Chicago. The Bruins added some veterans on the cheap to open free agency, bringing in, James vs Riemsdyk, Milan Lucic, Kevin Shattenkirk, and Patrick Brown.
Tampa Bay Lightning
It feels like the championship window has closed for the aging Tampa Bay Lightning after a first-round exit to Toronto. Alexander Killorn is gone to the Anaheim Ducks, but the Lightning signed six players on the opening day of free agency. Tampa Bay brought in five forwards including Conor Sheary, and Luke Glendenning.
LA Kings
The Kings went 47-25-10 this past season as a young team on the rise. LA is $7.3 million under the cap and had no pending free agents among their stable of skaters. LA appears to be on the verge of becoming a power in the Western Conference and now might be the time to buy.
Florida Panthers
After slaying three consecutive Stanley Cup favorites in the playoffs, the Panthers ran out of gas in a disappointing Stanley Cup final. The Panthers will return the majority of their roster next season, minus Antony Duclair, and signed eight players with the $10 million they had in cap space. Duclair was traded for Steven Lorentz and a 5th-round pick, saving $2 million in the deal. Florida went on to sign D Dmitry Kulikov, F Evan Rodrigues, G Anthony Stolarz, D Mike Reilly, D Niko Mikkola, C Kevin Stenlund, and D Oliver Ekman-Larsson.
Stanley Cup Odds: So You’re Saying There’s a Chance
Pittsburgh Penguins
The Penguins have slowly faded from NHL elites to the edge of the contender tier. But as long as Sydney Crosby is lacing up his skates, the Penguins are going to try to build a competitive roster. Pittsburgh had a slow start to free agency, resigning goalie Tristan Jarry, and bringing in solid D-man Ryan Graves. But the big splash came a month later when the Penguins traded for elite defenseman Erik Karlsson in a three-team deal.
Calgary Flames
The Flames had a disappointing season a year removed from being one of the NHL’s elite teams. Calgary will return all major contributors to their roster but are only $1.25 million under the cap.
Minnesota Wild
The Wild finished 46-25-11 but their record overshadowed a very average team when looking at the advanced metrics. Minnesota’s 5-on-5 xGF% ranked 17th overall at 51.04% and their actual net goals per 60 at 5-on-5 also ranked 17th at 0.1 goals. Minnesota didn’t have much to spend this offseason but added Vinni Lettieri and Jacob Lucchini, in addition to extending Brandon Duhaime.
Buffalo Sabres
The Buffalo Sabres are slowly working their way back into relevancy. After being one of the worst teams in the NHL for as long as most can remember, the Sabres flirted with the playoffs and finished 42-33-7 this past season. Buffalo has just one player over 30 on the roster (Jeff Skinner, 31) and buffed up its defense by adding former Bruin Connor Clifton and former Av Erik Johnson in free agency.
Seattle Kraken
The Kraken not only made the playoffs in their second season as a franchise, but they also beat the defending champion Avalanche in the first round. Seattle has a well-balanced roster and will have over $20 million to play with in the offseason.
New York Islanders
The Islanders secured the top Wild Card spot in the East a year after missing the playoffs. But NYI has the fifth-oldest roster in the league and made no new additions. However, with Mathew Barzal still in his prime, the Islanders could be a sleeper to go on a playoff run.
Ottawa Senators
With the fourth-youngest roster in the league before free agency began, the Ottawa Senators are primed to continue their positive progression. Ottawa improved to 39-35-8 with a -10 GD after going 33-42-7 the previous season with a -39 GD. The Senators finished six points behind Florida for the final Wild Card and could push for a playoff berth this season.
Winnipeg Jets
The Jets lost out on young star Pierre-Luc Dubois who signed an eight-year deal with the Kings. Dubois will be 25 next season and is coming off a 27-goal, 36-assist campaign. Winnipeg snuck into the playoffs in the weak Western Conference but will get at least one more season out of Connor Hellebuyck. If they fall out of contention early though, Hellebuyck will be one of the top names on the trade block.
Vancouver Canucks
The Canucks have the sixth-youngest roster in the NHL and are about $6.5 million under the cap heading into the offseason. Vancouver finished 38-37-7 a year after going 40-30-12, failing to make the jump forward that fans had hoped for with a -34 swing in goal differential.
Detroit Red Wings
The Red Wings are a team on the rise and have a wide range of Stanley Cup odds ranging from +4500 to +7500. Detroit put their hefty salary cap war chest to use and could be a dark horse pick if you’re willing to get risky on a Stanley Cup futures bet. Before free agency began the Red Wings re-upped D-man Gustav Lindstrom and signed Klim Kostin. They then added ten new skaters including J.T. Compher.
St. Louis Blues
The Blues signaled their rebuild after trading star forward Ryan O’Reilly at the deadline last season. St. Louis’ 37-38-7 record doesn’t look quite as bad as their -38 goal differential and the Blues made no significant additions when free agency opened.
Washington Capitals
A year after a 100-point campaign, the Washington Capitals heavily regressed to 80 points and a 35-37-10 record this past season. Washington has the second-oldest roster in the league and has under $7.5 million in cap space.
Nashville Predators
The Predators finished with a respectable 92 points this past season. But their -9 goal differential left much to be desired. Nashville is middle of the pack in the NHL with an average age of 28.2 and have over $15.5 million in cap space this offseason. The Preds have an elite goaltender in Juuse Saros, which is half the battle when it comes to winning the Cup. They have one big free agent decision in 24-year-old Cody Glass but will otherwise return all impact players.
Stanley Cup Odds: Don’t Bet These Teams
Columbus Blue Jackets
Columbus is coming off a horrific season that saw them get outscored 330-214. The Blue Jackets missed out on the Connor Bedard sweepstakes and have less than $5 million to play with this offseason.
Chicago Blackhawks
What the Blackhawks have going for them is the first overall pick in the NHL Connor Bedard as well as the second-most cap space in the league at over $37.5 million. However, it will take Chicago at least another season or two before this team is back in contention.
Philadelphia Flyers
The Flyers have been stuck in NHL purgatory for a few years now, and that is likely to continue for at least another couple of years. Philly has only $7.8 million in cap space to rebuild a team that had a -55 goal differential last season.
Anaheim Ducks
The Ducks had the worst goal differential in the NHL at -129 and have no chance of competing for the Stanley Cup this season. Anaheim does have the most cap space in the NHL at just over $39 million, so there is a light at the end of the tunnel if they can spend wisely.
Montreal Canadiens
The Canadiens are currently over the cap by $1.25 million after finishing ahead of only Columbus in the Eastern Conference. Do not waste your money betting on Montreal to win the Stanley Cup.
San Jose Sharks
San Jose is coming off a 22-44-16 season with a -87 GD and made no splashes in free agency. The Sharks are going to be bad for at least a couple more seasons, if not longer.
Arizona Coyotes
Arizona has been a bottom dweller for as long as anyone can remember and next season should be no different. What the Coyotes have going for them is the third-youngest roster in the league and plenty of cap space.
Stanley Cup Odds: How the Lines are Changing
Here we’ll take a look at how Stanley Cup odds have changed over the course of the 2023 – 2024 season at DraftKings Sportsbook.
| Team | Stanley Cup Odds June 22 | Stanley Cup Odds July 12 |
|---|---|---|
| Carolina Hurricanes | +1200 | +900 |
| Toronto Maple Leafs | +900 | +900 |
| Colorado Avalanche | +800 | +1000 |
| New Jersey Devils | +1200 | +1000 |
| Edmonton Oilers | +1000 | +1000 |
| Vegas Golden Knights | +1200 | +1200 |
| Boston Bruins | +800 | +1300 |
| New York Rangers | +1400 | +1300 |
| Dallas Stars | +1600 | +1400 |
| Florida Panthers | +1600 | +1600 |
| Tampa Bay Lightning | +1600 | +2000 |
| LA Kings | +2500 | +2200 |
| Minnesota Wild | +3000 | +3000 |
| Calgary Flames | +2000 | +3000 |
| Pittsburgh Penguins | +3000 | +3000 |
| Buffalo Sabres | +3500 | +3500 |
| Seattle Kraken | +4000 | +3500 |
| Ottawa Senators | +4000 | +4000 |
| New York Islanders | +5000 | +5000 |
| Vancouver Canucks | +6000 | +6000 |
| St. Louis Blues | +6000 | +6000 |
| Washington Capitals | +6000 | +6000 |
| Detroit Red Wings | +7500 | +6000 |
| Winnipeg Jets | +7500 | +7500 |
| Nashville Predators | +7500 | +7500 |
| Philadelphia Flyers | +15000 | +15000 |
| Columbus Blue Jackets | +15000 | +15000 |
| Chicago Blackhawks | +25000 | +20000 |
| San Jose Sharks | +25000 | +25000 |
| Arizona Coyotes | +25000 | +25000 |
| Anaheim Ducks | +25000 | +25000 |
| Montreal Canadiens | +25000 | +25000 |
Best NHL betting sites
Those betting using mobile options can simply navigate to the hockey section of the betting app to find Stanley Cup futures.
Bettors looking to place those Stanley Cup wagers may want to check out the odds at FanDuel Sportsbook. The site offers plenty of options in betting for the Stanley Cup winner as well as wagering on individual matchups.
DraftKings Sportsbook also offers a nice betting experience and all the futures action a hockey fan might want. For both sites, simply click on “hockey” and then the “futures” tab to make a selection. There are some great bonus offers at both FanDuel and DraftKings for those looking to get in on the action.
If sports betting isn’t legal in your state yet, daily fantasy sports is another great way to have some skin in the game. Sign up for an account at DraftKings and get $25 free.
How to bet the NHL
Betting on the NHL, and hockey, in general, is somewhat of a cross between baseball and basketball betting. It’s similar to basketball in that it can be slightly more predictable, particularly over the long term when looking at the proper statistics and trends. It leans toward baseball in following suit with generally modest odds and lines, and like with starting pitchers, the lines hinge on the projected starting goaltenders. The terms and bet types remain the same as in the other main sports.
- Moneyline: The most straightforward and common bet type; pick the team to win the game, either in regulation, overtime, or a shootout. Odds will generally range from -250 to +250 but can extend closer to -500 or +500 in rare cases. A late goalie swap can drastically change the odds, and likelihood of a team winning.
- Puck line/Spread: Much the same as run lines in baseball betting, the standard puck line is set at +/- 1.5 goals. The favorite must win by at least two goals; the underdog needs to stay within one in a loss or win outright. Any game going to overtime would be a win for the underdog regardless of the final outcome.
- Total: The total, or Over/Under, is most commonly set at a base of 5.5, though as with all hockey odds, the projected goalie matchup is the biggest factor. A pair of backups starting against each other would usually boost the line to 6.5; a pair of elite goaltenders could drop the number to 4.5.
- Alternate lines: The alternate betting lines are more valuable in hockey than nearly all the other main sports. Buying yourself a goal against either the spread or total can greatly raise your chances of earning at least a small profit. Boosting your odds to a puck line of -2.5 or a total of 7.5 can return a much great profit with the increased risk.
- Props: Hockey prop bets range from which team will score first to whether or not certain players will score a goal in the game. Rather than backing an underdog on the puck line in what’s expected to be a tight game, look for whether or not the game will go to overtime. This will often offer more profitable odds.
- Futures: Stanley Cup futures typically come out immediately after the prior NHL season wraps up in June. Odds are regularly adjusted from then until the trophy ids awarded. Team expectations, performance, and public betting action all influence the odds. Injuries, trades and winning or losing streaks also carry great weight. Be sure to incorporate advanced statistics and know which teams are over-performing. Others could enjoy a late-season surge in order to capitalize on long odds. Futures are also available for player awards and stats, and conference and division winners.
How do Stanley Cup futures odds work?
First, let’s define a futures wager. These are made on the result of certain events or contests to happen in the future.
Fans enjoy these wagers because they offer a chance to cheer for a team (or a few) in the long run. They also have a chance at a nice payout for a smaller wager. In this case, a bet on a certain team to survive the playoffs and win the Stanley Cup.
In the NHL, eight teams from each conference qualify for the playoffs. Making a futures wager on one of those 16 teams is easy, both in a live sportsbook and online.
A sportsbook in a casino will have futures odds usually listed on a large screen somewhere in the sportsbook. These should be easy to find, but the staff at the betting windows can help.
Let’s look at an example using a $100 futures wager:
- FanDuel Sportsbook opened the Colorado Avalanche as the favorite to win the 2024 Stanley Cup at +800. A bettor putting $100 on Colorado would win $800 (and get the original $100 bet back) if the Avs were to pull it off.
Why do Stanley Cup odds change during a season or in the playoffs?
While a team might start off with certain odds, they can change at any time. The Dallas Stars may start as +2200 underdogs (with a $100 wager to win $2,200), but that can change later. Several factors could be in play to make those lines move.
- Futures odds are a fluctuating market. A team may have a surprising Round 1 upset victory and played well. That may spur oddsmakers to move those lines down.
- Odds are adjusted based on a team’s performance, injuries, opponents, and more during the season and postseason.
- Sportsbooks also adjust odds based on betting patterns. A large amount bet on a certain team may force oddsmakers to lower odds to reduce exposure to potential losses should that team pay off.
NHL futures betting history
Winning the Stanley Cup isn’t easy. Teams must survive three playoff rounds before battling it out in the Stanley Cup Final. That comes after the 82-game regular season with plenty of skating, checking, and road trips.
The goal is to be one of the eight teams in the postseason from each conference and then see what happens. The Vegas Golden Knights made a historic run to the Cup Final as an expansion team in 2018. But who were some of the biggest long shots in history to win the Cup?
- 2012 – The L.A. Kings entered the playoffs as the eighth seed and went 20-1 to take home their first title in 44 years. As the L.A. Times noted, the team caught fire “… thanks largely to their remarkable 10-1 road record, tying a league record for the most road wins in a postseason. And while winning 16 of 20 playoff games, the Kings outscored their opponents by an impressive 57-30.”
- 1995 – The New Jersey Devils were the fifth seed when the playoffs started. They struggled during a regular season shortened to 48 games due to a lockout. The Red Wings looked like an unstoppable force and few in the media predicted Jersey would win. But the Devils completed an unlikely 4-0 sweep.
- 1986 – With a team full of rookies including goalie Patrick Roy and forward Claude Lemieux, the Montreal Canadiens shocked the hockey world with a 4-1 finals victory over the Calgary Flames.
No doubt, bettors took home a nice score on these futures wagers.