Stanley Cup Odds 2023

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The journey for the 2023 Stanley Cup is underway. The defending champion Avalanche began the season as Stanley Cup odds favorites with a price around +380 at most sportsbooks. The Maple Leafs and and Panthers were the only other teams with odds of +1000 or lower at the start of the campaign. 

Stanley Cup odds 2023

Check out Stanley Cup odds for every team in the NHL below.

Here is a 2023 Stanley Cup futures report for all 32 teams in the NHL. Odds are from Caesars Sportsbook on June 21:

Odds to Win Stanley Cup Tier 1: Favorites

Colorado Avalanche (+380): Colorado put their cap space to use this offseason, extending key role players Arturri Lehkonen and Valeri Nichushkin. They also upgrade their weakest position by trading for a well-regarded young goalie in Alexandar Georgiev.

Toronto Maple Leafs (+850): Toronto will return largely the same roster that excelled during the regular season but fizzled out with yet another first-round gut punch. The Maple Leafs will roll with an intriguing combination in net this season, with Ilya Samsonov and Matt Murray forming a somewhat unlikely but talented pair.

Florida Panthers (+850): The Florida Panthers remain the clear #3 in the 2023 Stanley Cup odds despite a strange offseason that saw them trade away last year’s leading scorer. In their biggest offseason transaction, Florida traded Jonathan Huberdeau, Cole Schwindt, MacKenzie Weegar, and a 2025 first-round pick to Calgary for Matthew Tkachuk. The roster also experienced extensive turnover on defense. With so much uncertainty, this number feels awfully short.

Odds to Win Stanley Cup Tier 2: Contenders

Carolina Hurricanes (+1100): While the Hurricanes’ core of Aho, Teravainen, Staal, Svechnikov, and Slavin remain firmly intact, Carolina shuffled the rest of its roster and should be better for it. Nino Neiderreiter, Vincent Trocheck, and Tony DeAngelo are gone. But Carolina reloaded, adding Brent Burns on defense and Max Pacioretty on offense. The market made a move on Carolina, bringing this number from +1400 to +1100. And it wouldn’t be surprising to see this number in the triple digits when the puck drops on the season.

Tampa Bay Lightning (+1200): Tampa Bay didn’t have much money to work with going into the offseason. But they were able to hand out eight-year extensions to Erik Cernak, Anthony Cirelli, and Mikhail Segachev. However, Ondrej Palat, Ryan McDonagh, and Jan Rutta all left via free agency. The Lightning’s ability to sustain success has been on display the past few years, so it would be unwise to doubt them.

Edmonton Oilers (+1600): The Oilers’ number has crept down from +1800 in June, potentially due to loud Patrick Kane trade rumors, but more likely due to the acquisition of Jack Campbell in net. If the Oilers did add Kane, it would be incredible to see what their offense could do on a nightly basis. It would also go a long way to fix their lack of depth on offense.

Calgary Flames (+1800): The Flames were a top-five team per expected goal rate last season but will have to overcome the loss of Johnny Gaudreau and Matthew Tkachuk. While Gaudreau was signed by Columbus, Calgary was able to flip Tkachuk for a nice haul, landing a quality young defender in MacKenzie Weegar and Florida’s top scorer last year, Jonathan Huberdeau.

Pittsburgh Penguins (+1800): The Penguins were a fringe top-five team during the regular season but didn’t have enough juice to make an impact in the playoffs. This roster is only getting older and slower, so while at +1800, they are technically a contender, they need an injection of youth that isn’t coming.

Minnesota Wild (+1900): The Wild were a fringe top-ten team throughout most of the regular season, and their exit in Round 1 to the St. Louis Blues was hardly surprising. The Wild were +2500 to win the Cup heading into last season and lost a key contributor in Kevin Fiala, making +1900 look awfully short.

New York Rangers (+2000): The New York Rangers have youth on their side, as well as an elite goaltender. Unfortunately, they lost Ryan Strome, Andrew Copp, and Frank Vatrano, who all played key roles in their playoff run. With Shesterkin, New York is always going to have a chance to win the Stanley Cup. But he can’t do it alone, and you will likely find a better number than +2000 during the season.

Vegas Golden Knights (+2000): After missing the postseason for the first time, Vegas fired head coach Peter DeBoer and replaced him with Bruce Cassidy. The Golden Knights also lost Max Pacioretty and Mattias Janmark to free agency. Vegas has plenty of talent left on the roster, but this doesn’t feel like a Stanley Cup-winning team.

Odds to Win Stanley Cup Tier 3: So you’re saying there’s a chance?

Boston Bruins (+2800): Bruce Cassidy was available to Vegas because he was fired by the Bruins despite leading the league in xGF a year ago at 57.51%. Boston is old and boring, but they get the job done with an above-average offense and smothering defense. Patrice Bergeron was re-signed for one year, and there are rumors that David Krejci could return. But Boston will enter the season with a hobbled roster as Brad Marchand and Charlie McAvoy deal with injuries.

Los Angeles Kings (+3500): The Kings were a surprise playoff contestant this year after a highly successful 44-27-11 regular season. And per advanced metrics such as xG and RAPM, LA was a legitimate top-ten team this season. With the 16th longest odds, there could be some value on LA as a darkhorse Cup pick. The Kings are projected to have over $19 million in cap space.

Nashville Predators (+3500): The Predators had an impressive offseason, and the market reacted accordingly, bringing this number down from +5500. Nashville not only signed budding star Filip Forsberg to an eight-year deal, but they also added Nino Niederreiter and Ryan McDonagh. While the big value on this number is gone, the Preds could still be worth a sprinkle at +3500.

St. Louis Blues (+4000): The Blues are a fun team to watch and outperformed their xG metrics all season long before finally running into the buzzsaw that is the Colorado Avalanche. As currently constructed and as talented on offense as the Blues are, this doesn’t look like a team ready to reach the top tier and challenge Colorado.

New York Islanders (+4000): The Islanders finished the regular season 35-37-10 with a -6 goal differential. As a result, head coach Barry Trotz was fired following the season. To replace him, NYI hired Trotz’s longtime assistant Lane Lambert. The Islanders retain the core of their roster but have shown no reason to believe they can hoist the Cup in 2023.

Washington Capitals (+4000): The Capitals squeaked into the playoffs as the second wild card in the East and acquitted themselves nicely by taking Florida to a Game 7. Realistically though, Washington is not a Cup contender with their current roster.

Dallas Stars (+4500): Dallas was the top wild card seed in the West and took Calgary to Game 7, earning their reputation as an above-average team that isn’t quite a Cup contender. The Stars lost John Klingberg but signed Mason Marchment, who had a successful season as a scorer for the Panthers.

Vancouver Canucks (+5000): After firing head coach Travis Green and replacing him with Bruce Budreau in December, the Canucks went 35-15-10 and fell just five points short of a playoff berth. The Canucks have no serious free agent casualties but will have to allocate money to Brock Boeser as a restricted free agent. Vancouver should have over $10.5 million to work with this off-season.

New Jersey Devils (+5000): The Devils had an incredibly forgettable regular season, going 27-46-9. Their -59 goal differential was one of the worst in the league. But advanced metrics pegged New Jersey closer to league average than a true bottom feeder. The Devils signed Ondrej Palat and should have a bounce-back season. But there is little to zero chance of that New Jersey hoists the Cup in 2023.

Ottawa Senators (+5500): The Senators finished the 2021-22 season with a -39 goal differential and finished second to last in the Atlantic Division. However, Ottawa had an aggressive offseason, adding a young star in Alex DeBrincat from the rebuilding Blackhawks and signing veteran leader Claude Giroux. The Senators also upgraded at goalie and should be a much more competitive team this year.

Detroit Red Wings (+6000): The Red Wings were loaded with cap space, and they put it to use signing multiple quality pieces in Ben Chiarot, David Perron, and Andrew Copp. They also improved their goalie depth and have turned the corner from a rebuilding team to one that plans to compete for a playoff spot.

Winnipeg Jets (+6000): The Jets were about as average as it gets in the NHL this past season. Winnipeg had a -5 goal differential but was able to get their record above .500 at 39-32-11. That record was good for a respectable 89 points, and we should expect similar results again this season.

Odds to Win Stanley Cup Tier 4: Longshots

Columbus Blue Jackets ( +10000): Columbus outplayed expectations this season going 37-38-7, finishing just behind the Islanders in the Metropolitan. The Blue Jackets had no key losses and made the big splash of the offseason by adding Johnny Gaudreau. But this team is still multiple years away from competing for the Cup.

Seattle Kraken (+10000): If you can believe it, the market had this team priced as a favorite to go to the postseason heading into their inaugural season. Unfortunately for Seattle, their offense was even worse than expected. And the defense they hoped would carry the team never truly showed up. Seattle will have another uphill battle this season, but the additions of Andre Burakovsky and Oliver Bjorkstrand should help them get closer to playoff contention.

Buffalo Sabres (+15000): Despite a -58 goal differential, the Sabres were able to scratch out 75 points this past season going 32-39-11. This team isn’t anywhere near Cup contention, but what Buffalo has in their favor is a strong farm system that could potentially blossom into a playoff contender in the next couple of years.

Anaheim Ducks (+15000): The Ducks were surprisingly competitive throughout the first half of the season. But ultimately, their true talent caught up with them. Anaheim played to a -39 goal differential, finishing second to last in the poor Pacific Division. Anaheim added Ryan Strome and Frank Vatrano from playoff teams, but they are far from a contender for the Cup.

Philadelphia Flyers (+15000): At -87, the Flyers had the third-worst goal differential in the NHL last year. This team is nowhere near contention, and you’re better off making paper airplanes with your cash than wagering it on Philly.

San Jose Sharks (+18000): The Sharks have a bad roster, and it’s full-on rebuild time in San Jose.

Odds to Win Stanley Cup Tier 5: No chance

Chicago Blackhawks (+100000): The Blackhawks are cleaning house and won’t be in contention for many years to come.

Arizona Coyotes (+100000): No team allowed more goals per game this season at even strength than the Coyotes 3.36 GAA/60. That number is not likely to change, and Arizona will continue to be the embarrassment of the NHL for at least another season.

Montreal Canadiens (+20000): The Canadiens had the second-worst goal differential in the league at -98, and you have no business betting on their Stanley Cup future odds.

Below are how NHL odds are changing throughout the course of a year. Listed first are Stanley Cup odds from June 27, the day after the Colorado Avalanche won it all.

TeamNHL Stanley Cup Odds: June 27NHL Stanley Cup Odds: August 25
Colorado Avalanche+400+380
Toronto Maple Leafs+800+850
Florida Panthers+1000+850
Carolina Hurricanes+1400+1100
Tampa Bay Lightning+900+1200
Edmonton Oilers+1800+1600
Calgary Flames+1800+1800
Pittsburgh Penguins+2000+1800
Minnesota Wild+1800+1900
New York Rangers+2000+2000
Vegas Golden Knights+1400+2000
Boston Bruins+2200+2800
LA Kings+4500+3500
Nashville Predators+5500+3500
St. Louis Blues+2200+4000
New York Islanders+3500+4000
Washington Capitals+3500+4000
Dallas Stars+4500+4500
Vancouver Canucks+4500+5000
New Jersey Devils+7500+5000
Ottawa Senators+7500+5500
Detroit Red Wings+5000+6000
Winnipeg Jets+6000+6000
Columbus Blue Jackets+10000+10000
Seattle Kraken+10000+10000
Buffalo Sabres+5000+15000
Anaheim Ducks+7500+15000
Philadelphia Flyers+6000+15000
San Jose Sharks+10000+18000
Chicago Blackhawks+10000+100000
Arizona Coyotes+50000+100000
Montreal Canadiens+15000+200000

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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 2022 Stanley Cup at +650. A bettor putting $100 on Colorado would win $650 (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.