The journey for the 2023 Stanley Cup is entering the stretch run before the playoffs arrive in April. The defending champion Avalanche began the season as Stanley Cup odds favorites with a price around +380 at most sportsbooks. Colorado now sits at +650 with the second-shortest odds despite three teams ranking ahead of them in the Western Conference. The Boston Bruins have been the best team in both the East and the entire league and have the shortest Stanley Cup odds at +380.
Stanley Cup odds
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 to Win Stanley Cup Tier 1: Favorites
Boston Bruins (+380): With +2800 odds in the preseason, the Boston Bruins have dominated the NHL with a 53-11-5 record, giving them +380 odds to win the Stanley Cup at DraftKings. It’s not as though Boston wasn’t already a near-elite team for the past decade. But it’s all come together on both ends of the ice for the Bruins who lead the NHL in Goals For % by a wide margin at 64.55%. The advanced metrics aren’t quite as in love with Boston though, as they rank #8 in 5-on-5 xGF at 53.35%.
Colorado Avalanche (+650): Colorado hasn’t been nearly as dominant as they have been for the previous two seasons. But the market hasn’t downgraded them much as far as Stanley Cup odds go. The Avs have an xGF of only 51.33% at 5-on-5 this season, and their actual GF% ranks 10th overall at 53.61%. Colorado has dealt with its fair share of injuries, but their lack of production this season is not reflected in the current Stanley Cup odds.
Carolina Hurricanes (+850): Carolina is second to only the Bruins in total points with 98 and their +52 goal differential ranks 3rd in the NHL. The Hurricanes lead the league in 5-on-5 xGF by a wide margin at 60.10% and rank sixth in actual GF rate at 56.35%. The 3.65% delta suggests some positive regression may be in order for Carolina, but their odds to win the Stanley Cup have increased from +650 a month ago.
Toronto Maple Leafs (+900): Until the Maple Leafs can get past the first round of the playoffs, they’re always going to be questioned in the market. The problem for Toronto is that despite an elite group of offensive players and a quality defense that ranks 4th in GA/60 at 5-on-5, the Maple Leafs are always at a disadvantage in goal when playing against elite competition. Ilya Samsonov is perfectly average at just about everything. But a team need’s more in the net in order to hoist the Cup.
Odds to Win Stanley Cup Tier 2: Contenders
New Jersey Devils (+1200): From +50000 to +1200, the Devils have made a bigger jump up the odds board than any other team this season. And the metrics back up the meteoric rise. New Jersey has allowed the third-fewest high-danger chances (594) while generating the second-most HDCF (816) in the league.
Edmonton Oilers (+1300): The Oilers have the third-highest goal differential in the West at +40 and are third place in the Pacific, four points behind Vegas and LA. Edmonton has a high probability of advancing through the West. But winning the Stanley Cup is another story with average goaltending.
Vegas Golden Knights (+1400): The Golden Knights lead the Pacific Division and their +39 goal differential ranks 4th in the West. Vegas should be able to take advantage of home ice in the playoffs and have a decent chance of reaching the Stanley Cup Final.
Tampa Bay Lightning (+1400): When it comes to the Stanley Cup Playoffs, the Lightning will always have an ace up their sleeve with goaltender Andrei Vasilevskiy, arguably the best in the NHL.
New York Rangers (+1400): The New York Rangers have youth on their side and an elite goaltender. With Shesterkin, New York is almost always going to have an edge in the net. But he can’t do it alone, and this team will need reinforcements at the trade deadline if they want to make a Cup run.
Dallas Stars (+1500): On the back of Jason Robertson’s breakout season, the Dallas Stars have established themselves as a true contender sitting atop the Central at 71 points. Dallas’ +41 goal differential leads the Western Conference and is third overall in the NHL (NJ +43, Boston +81).
Odds to Win Stanley Cup Tier 3: Anything can happen in the playoffs
Minnesota Wild (+2200): Minnesota opened the season at +1900, so their odds to win the Cup have barely budged after three months. At 40-22-8 the Wild are third in the Central and their 88 points are tied for fourth-most in the Western Conference.
Los Angeles Kings (+2500): The Kings were a surprise playoff contestant after a highly successful 44-27-11 record a season ago. And per advanced metrics such as xG and RAPM, LA was a legitimate top-ten team. The Kings have followed up their breakout season with a similarly impressive 2022-23 campaign, ranking 11th in xGF at 52.75%.
Seattle Kraken (+3000): From +10000 to begin the season, the Seattle Kraken have been one of the biggest surprises this season. The additions of Andre Burakovsky and Oliver Bjorkstrand have been a nice boost, helping Seattle to a 59.54 GF% on the season (#2 in the league). But it’s been fools gold to an extent, as Seattle ranks 17th overall in expected goals for at 50.74%.
Florida Panthers (+3000): From +850 and among the top three favorites, no team has dropped down the odds board like the Florida Panthers.
Odds to Win Stanley Cup Tier 4: So you’re saying there’s a chance?
Pittsburgh Penguins (+4500): The Penguins have an aging roster that has stayed relevant through pure force and experience. However, in a loaded Eastern Conference Pittsburgh has little chance of reaching the Stanley Cup Final.
New York Islanders (+5000): The Islanders have one more win through 71 games than they had a year ago and their +12 GD is an improvement over -6 last season. NYI sits in the top Wild Card position in the East but is unlikely to make a run to the Stanley Cup Final.
Winnipeg Jets (+5500): The Jets have a +13 goal differential and sit in the second Wild card position in the West. Winnipeg is the epitome of average, ranking 17th in all strengths xGF at 50.56%.
Calgary Flames (+5500): The Flames have taken a step back from their top-five performance a season ago. But Calgary still ranks 5th in net expected goals per 60 minutes at +0.46. While Calgary has talented skaters, their below-average goaltending will ultimately destroy any chances of winning the Stanley Cup.
Odds to Win Stanley Cup Tier 4: Lucky to be called a longshot
Nashville Predators (+20000): The Predators are in the middle of the pack in the Central Division and have a -11 goal differential through 69 games. Nashville is outperforming their 5-on-5 expected goal rate (51.92% GF to 49.68 xGF) and should continue to be an average team without much upside.
Washington Capitals (+30000): The Capitals squeaked into the playoffs last year 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.
Ottawa Senators (+30000): The Senators have underperformed their 5-on-5 xGF rate more than any other team this season. Their 125 goals scored is dwarfed by a 149.5 xGF. Similarly, Ottawa’s 156 goals allowed far outpace their 144 xGA.
Detroit Red Wings (+30000): The Red Wings have a -26 goal differential and sit seventh in the Atlantic Division through 69 games. Detroit is below average on both offense and defense, and are likely multiple years away from being a true contender.
Buffalo Sabres (+30000): Through 69 games, the Sabres have exceeded expectations with a -8 goal differential and a 49.37 xGF%. The Sabres’ offense is among the best in the league. And while the defense has disappointed, a young core gives reason for hope in Buffalo.
Odds to Win Stanley Cup Tier 5: No chance
Vancouver Canucks (+60000): The Canucks are having another forgettable season, mostly due to terrible defense. Vancouver has some interesting pieces on offense, but a lot of work is necessary in puck prevention.
St. Louis Blues (+60000): The Blues have been one of the most disappointing teams in hockey with a -34 GD in 69 games played. St. Louis will be looking at a thorough rebuild in the offseason.
Philadelphia Flyers (+60000): At 25-32-12, the Flyers haven’t been as awful this season as they have in recent years. But in a loaded Metropolitan Division, Philadelphia has been thoroughly uncompetitive.
Montreal Canadiens (+100000): The Canadiens have the fifth-worst goal differential in the league at -64, which is an improvement over last season’s second-worst tally of -98. You have no business betting on Montreal’s Stanley Cup odds.
Arizona Coyotes (+100000): Arizona is no longer the embarrassment of the NHL, that title goes to the Ducks. But the Coyotes still have a long way to go if they want to sniff competitiveness.
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.
| Team | NHL Stanley Cup Odds: June 27 | NHL Stanley Cup Odds: August 25 | NHL Stanley Cup Odds: March 21 |
|---|---|---|---|
| Boston Bruins | +2200 | +2800 | +380 |
| Colorado Avalanche | +400 | +380 | +650 |
| Toronto Maple Leafs | +800 | +850 | +900 |
| Carolina Hurricanes | +1400 | +1100 | +850 |
| New Jersey Devils | +7500 | +5000 | +1200 |
| Edmonton Oilers | +1800 | +1600 | +1300 |
| Vegas Golden Knights | +1400 | +2000 | +1400 |
| Tampa Bay Lightning | +900 | +1200 | +1400 |
| New York Rangers | +2000 | +2000 | +1400 |
| Dallas Stars | +4500 | +4500 | +1500 |
| Minnesota Wild | +1800 | +1900 | +2200 |
| LA Kings | +4500 | +3500 | +2500 |
| Florida Panthers | +1000 | +850 | +3000 |
| Seattle Kraken | +10000 | +10000 | +3000 |
| Pittsburgh Penguins | +2000 | +1800 | +4500 |
| New York Islanders | +3500 | +4000 | +5000 |
| Calgary Flames | +1800 | +1800 | +5500 |
| Winnipeg Jets | +6000 | +6000 | +5500 |
| Nashville Predators | +5500 | +3500 | +20000 |
| Buffalo Sabres | +5000 | +15000 | +30000 |
| Washington Capitals | +3500 | +4000 | +30000 |
| Ottawa Senators | +7500 | +5500 | +30000 |
| Detroit Red Wings | +5000 | +6000 | +30000 |
| St. Louis Blues | +2200 | +4000 | +60000 |
| Vancouver Canucks | +4500 | +5000 | +60000 |
| Philadelphia Flyers | +6000 | +15000 | +60000 |
| Arizona Coyotes | +50000 | +100000 | +100000 |
| San Jose Sharks | +10000 | +18000 | OTB |
| Anaheim Ducks | +7500 | +15000 | OTB |
| Montreal Canadiens | +15000 | +200000 | OTB |
| Chicago Blackhawks | +10000 | +100000 | OTB |
| Columbus Blue Jackets | +10000 | +10000 | OTB |
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 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.