The Panthers will set out to defend their title and repeat as champions after a thrilling Game 7 win over the Edmonton Oilers. Who will win the Stanley Cup next year? Will the Panthers repeat?
Continue reading to discover the favorites to win, the odds, analysis, and my 2025 Stanley Cup predictions!
The following Stanley Cup betting odds are courtesy of Bovada:
After a thrilling and highly entertaining opening round, the 2025 Stanley Cup odds are on the move for Round 2. The Florida Panthers (+450) and Dallas Stars (+450) are co-favorites to win the Stanley Cup, but there isn’t much room between the top contenders.
The Panthers and Stars share an 18.2% implied probability to lift the Cup! In other words, there isn’t a whole lot of confidence in the markets. Behind the leading favorites, the Carolina Hurricanes (+500) and the Edmonton Oilers (+500) have the same chance at 16.7%.
Even the fifth-highest team on the board, the Toronto Maple Leafs (+750), aren’t far behind with an 11.8% implied probability. The Stanley Cup Playoffs are all about parity, and perhaps even more than in past years, it’s on full display!
You can find up-to-date Stanley Cup 2024-2025 betting odds at Bovada by navigating to Sports > Hockey > NHL Futures > Stanley Cup.
Before delving into my predictions for the Stanley Cup in 2025, let’s analyze the top favorites to win, according to the latest odds on NHL betting sites.
After the Florida Panthers entered the playoffs with question marks surrounding their health, they got some bodies back at the right time. Most notably, Matthew Tkachuk returned for the first-round series against the Tampa Bay Lightning.
Sam Reinhart and Aleksander Barkov were dealing with injuries late in the regular season, but have received a clean bill of health, too. Additionally, defenseman Aaron Ekblad cleared his 20-game suspension and was back on the ice for Game 3.
Now, after dispatching the Lightning in five games, the defending Stanley Cup champs are co-favorites to win it all again. The Panthers’ odds to win the Stanley Cup improved from +650 to +450 after sending the Lightning home. That isn’t a bad Lightning squad, so you have to give the Panthers plenty of credit for ousting Tampa in five games.
BATTLE OF FLORIDA ✅
The Panthers have eliminated the Lightning in five games! pic.twitter.com/2BpBl539Yx
— TSN (@TSN_Sports) May 1, 2025
Tkachuk had a fantastic showing in the first round of the playoffs. He returned from injury to deliver three goals, two assists, and a +1 rating. The 27-year-old Arizona native looks fresh and primed to lead the Panthers back to the Stanley Cup Finals. The injury might have been a blessing in disguise to give him more time to recoup and rest for the playoffs.
Overall, the Panthers notched 3.8 goals per game while conceding 2.4 goals in the first round. They operated well as a team, and the time off for some of their key players, including Tkachuk, didn’t impact any chemistry. That isn’t great news for a Maple Leafs squad that hasn’t been able to get past the Panthers in recent playoff history.
The defending champions finished third in the Atlantic after going 3-6-1 in their last ten regular season games. That being said, the Panthers are a different team when they’re healthy, and that’s why you see this sudden surge of money on them to win the Stanley Cup recently.
It’s always tough to go back to the Stanley Cup Finals in consecutive seasons, and even tougher to repeat. Since 1997-98, only three teams have won back-to-back Stanley Cups. Aside from those concerns, the Panthers are a tough and physical team.
That formula is to be tough to beat in the playoffs, so continue to watch out for the Panthers against the Toronto Maple Leafs in the second round!
The Dallas Stars entered the regular season as one of the favorites to win the Stanley Cup. At +1000, they had the third-shortest odds behind the Edmonton Oilers and Florida Panthers. Dallas was my preseason 2025 Stanley Cup betting pick, so that prediction is doing quite well!
In the first round of the playoffs, the Stars pulled off a miraculous comeback in Game 7 to oust the Colorado Avalanche. They erased a 2-0 deficit to take the lead late in regulation at home in Texas.
Mikko Rantanen sparked the comeback against his former team with two goals, and then Wyatt Johnston netted the game-winner on the power play with 3:56 remaining in the 3rd period.
Rantanen capped off the win with an empty-netter for an insurance marker in the waning seconds. Getting Rantanen hot isn’t what the Winnipeg Jets wanted to see! Still, their confidence will be high after off an even crazier Game 7 comeback to set up a date with the Stars!
The Stars are one of the most well-balanced teams remaining in the playoffs. In the regular season, they finished third in goals and sixth in goals against per game in the NHL. Before their Round 1 series started against the Avalanche, I claimed that the winner could very well win the Stanley Cup.
Unfortunately, one of them had to exit so early in the postseason. With Rantanen budding with confidence and chemistry building in Dallas, they should be a difficult out for the Jets.
After overcoming a tough Avalanche squad, the Stars are battle-tested and well-prepared for anything other teams could throw at them. Also, with Jacob Robertson and Miro Heiskanen expected to return, they’re in a great position now!
The Carolina Hurricanes are off to Round 2 after a textbook opening series win over the New Jersey Devils. Rod Brind’Amour’s group ended the Devils’ chances with a 5-4 OT win in Game 5. The Devils were dealing with a number of critical injuries, and the Hurricanes took advantage of their hobbling opponent.
SERIES WINNER IN DOUBLE OT 🗣️
Sebastian Aho scores in @Energizer double overtime to send the @Canes to the Second Round! #StanleyCup pic.twitter.com/ouRWZaO8Gq
— NHL (@NHL) April 30, 2025
They finished second in the Metropolitan Division with 99 points. It was expected to be a highly competitive division, but the Devils ran into injuries, the Rangers faltered, and the bottom of the Metropolitan featured bad Flyers and Penguins teams.
Aside from the Washington Capitals, the Hurricanes had no competition in the division. Led by a solid core, including Sebastian Aho and Seth Jarvis, they finished ninth in goals and tenth in goals against per game this season.
In the first round of the NHL Playoffs, the Hurricanes led the league with 2.20 goals against per game. If Frederik Andersen started Game 5, that number would have probably been lower! Andersen missed the series-clinching game with an injury but was lights out before exiting.
He posted a 1.59 GAA and 0.936 save percentage through four games against the Devils. The Hurricanes’ starting goaltender has returned to practice, but will he be at 100%? For the Hurricanes to have success against a high-flying Capitals team, the Hurricanes need Andersen in top form.
Handling a banged-up Devils squad doesn’t jump off the page, and shouldn’t be viewed as a huge accomplishment. With Andersen banged up, I’m even more leery about Carolina. The Hurricanes should probably be in the +650 range, so I will pass on their Stanley Cup Playoffs odds!
The Edmonton Oilers are back amongst the Stanley Cup betting favorites after a hard-fought win over the Los Angeles Kings. In a first round that was filled with late comebacks, the Oilers took part in the wild games!
Seconds away from a 3-1 deficit, the Oilers tied Game 4 up and secured a 4-3 victory. The Kings were demoralized after that loss and weren’t able to recover in a 4-2 series victory after going ahead 2-0 early on. Although the Oilers ultimately won by two games, it was a series that had the chance to go in either direction.
PLAY LA BAMBA, BABYYY!!! 🔵🟠 #StanleyCup
Leon Draisaitl's @Energizer overtime winner completes the comeback and ties this series 2-2! pic.twitter.com/f6FitOy21Q
— NHL (@NHL) April 28, 2025
They didn’t react favorably to the Kings’ physical defense and backchecking but were able to gut it out. Goaltending was a huge point of contention for the Oilers. After Stuart Skinner struggled with a 6.11 GAA and 0.81 save percentage through two games, the Oilers turned to Calvin Pickard.
Pickard was mediocre as well, wrapping up the first round with a 2.93 GAA and 0.893 save percentage. With their offensive firepower, the Oilers need some help from the man between the pipes to win the Cup. The Oilers scored 4.5 goals per game in the first round to lead all playoff teams!
However, they were second-last, yielding four goals per contest. This was against a Kings team that isn’t known for their offensive prowess. In any event, as long as Connor McDavid and Leon Draisaitl are healthy, the Oilers will have the best 1-2 punch on offense!
Let’s continue with the best sleepers! Much has changed since I made my original Stanley Cup predictions, but my opinion remains the same for the best underdog wagers:
The Washington Capitals at +1000 odds to win the Stanley Cup is an insane value wager! Despite finishing tops in the Metropolitan Division, oddsmakers give the Capitals have just a 9.1% implied probability to win.
OVI GETS IT DONE! 💪
Alex Ovechkin's FIRST EVER #StanleyCup Playoffs @Energizer overtime winner gives the @Capitals the victory in Game 1! pic.twitter.com/4TQEtvZLjD
— NHL (@NHL) April 22, 2025
This is after Alex Ovechkin broke the NHL all-time goal record and the Caps finished the regular season at 51-22-9, and rolled over a talented Canadiens squad in five games. Nevertheless, the public hasn’t felt the most optimistic about the Capitals when it comes to the Stanley Cup Playoffs.
When you look past Ovechkin, this is a very good team loaded with depth. The Capitals are much more than the veteran, and that is often lost on people.
Washington were second in the NHL in goals scored per game this season. They got stellar production from Tom Wilson, Dylan Strome, and Pierre-Luc Dubois.
Even after dispatching the Canadiens, the public is hesitant to bet on the Capitals. Note that their Stanley Cup 2025 odds haven’t budged at all since defeating the Habs, so there is plenty of hesitation to bet on Ovechkin over the Hurricanes!
This is great news for bettors who are looking for top value on a longshot. The second round series against the Hurricanes is a toss-up, so if you’re going to give me +1000 odds to win the Cup, I’ll take that all day!
The Vegas Golden Knights were often overlooked this season. Despite winning the Stanley Cup in 2023 and another strong campaign in 2024-25, the public largely turned their backs on Vegas.
Nevertheless, they went 50-22-10 with 110 points and the Pacific Division title! The Golden Knights went 6-2-2 in their last ten regular season games and outlasted the Minnesota Wild in six games in Round 1. Despite this success, they continue to be overlooked!
It takes everyone 🫡#ForTheRealm | @BetMGM pic.twitter.com/AG3CsW6xJD
— y-Vegas Golden Knights (@GoldenKnights) May 5, 2025
Note that Vegas finished in the top 5 in goals and goals against per game. The pesky Knights were third in goals against at 2.61, with an offense averaging 3.34 goals per game. They can win in the defensive or offensive zone. This is the type of formula that could frustrate the one-dimensional Oilers.
The betting price for the Oilers vs. Golden Knights series is a toss-up, but Edmonton has much shorter odds to win the Cup! All the value is on the Golden Knights at +800, so consider this dangerous squad for your NHL Stanley Cup 2025 picks!
I will preface this by saying that the Stanley Cup chase is wide open. The opening round of the playoffs was highly entertaining, and I expect more of the same in Round 2. Regardless of what happens, we all win as hockey fans!
With that said, I’m going back to my original Stanley Cup pick on the Stars. Not only did I select the Stars in the preseason, but I’ve stated that whoever wins the Stars vs. Avalanche series could be well on their way to the Cup.
I believe the Stars have already gotten their toughest challenge out of the way in Nathan MacKinnon and the Avalanche. Additionally, Robertson and Heiskanen’s return to the ice can’t be understated. The Stars looked like a different team without Heiskanen at the end of the regular season, and the defense looked like they needed him desperately at times against the Avalanche.
With Heiskanen back and Jake Oettinger playing well in the crease, my concerns about the Stars collapsing in the defensive zone are alleviated now! While the Capitals and Golden Knights are excellent side bets at high odds, my top 2025 Stanley Cup betting pick are the Stars at +450!
Fortunately, there are many safe betting sites where you can place your wagers on the Stanley Cup odds to win in 2025! As our top pick for the best NHL markets and prices, consider checking out Bovada. In addition to NHL Stanley Cup 2025 betting odds, Bovada will have odds for every matchup, prop bets, and live betting!
New customers can deposit at Bovada to claim a 100% match bonus of up to $1,000 with promo code BV1000!
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