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Last Updated: February 23, 2025 7:30 AM EST • 6 min 31 sec read.
The Edmonton Oilers are back atop their perch as Stanley Cup odds favorites at our best NHL betting sites, nudging the Carolina Hurricanes down to second on the leaderboard. 
The Florida Panthers are receiving the third-shortest odds, while the Dallas Stars are in fourth. Seven teams are battling to secure a top-five spot with the NHL back in action. 
Here are some noteworthy takeaways from the Stanley Cup odds:  
I’ve been bullish about the Oilers since the midway mark of last season, and now there’s even more reason to pump their already-inflated tires. 
They have the second-best record since Nov. 8 (28-11-3). Their two megastars are Hart Trophy odds front-runners, and the Oilers are unstoppable at home. Their defensive play has been much better, too. Edmonton will be a menace come playoff time as long as this team stays relatively injury-free – especially its headline acts.
A $10 bet will lead to a $60 profit if the Oilers can win their first Cup in 25 years. And barring a spectacular goaltending performance, I can’t see any team beating them in a seven-game series. 
Best Stanley Cup odds: +600 via FanDuel | Implied probability: 14.29%
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Carolina hasn’t exactly been the hottest team in the league, but it’s built for the postseason. It has one of the league’s most impressive offenses.
But it has struggled to find consistency. Every time you think they’re ready to put a run together, something trips them up. At least Frederik Andersen is back. And it’s only a matter of time before Rantanen picks up his offensive production with his new team. 
This team is lined with vets who know how to get it done, having reached the postseason in six straight seasons, including a couple of trips to the Eastern Conference Final. Bringing in a superstar like Rantanen will make the Hurricanes even more challenging to knock off when the time comes. 
However, I feel their +700 odds are way shorter than they should be based on current form. A $10 wager could turn a $70 profit if the Canes can capture their first cup in 19 years. 
Best Stanley Cup odds: +700 via FanDuel | Implied probability: 13.33%
The Caps are back to their best. They boast the NHL’s best points percentage (.727) due to a league-best defense and the second-best offense. 
The Great 8 can’t be stopped, evidenced by the Alexander Ovechkin goals record odds. Their Cup odds are finally improving, gradually draining the extra value from when the oddsmakers had them undervalued as contenders.  
You can still make the most of the +1400 odds DraftKings offers. However, remember that the odds at our best sports betting sites are losing value. They were trading at +2500 about five weeks ago. If you believe in the Caps’ unheralded journey, back them while decent value persists. 
Best Stanley Cup odds: +1400 via FanDuel | Implied probability: 6.67%
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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 
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.
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. 
The Edmonton Oilers are the 2024-25 Stanley Cup odds favorites. Their best odds stand at +600, representing an implied win probability of 14.29%, according to our odds converter.
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. 
The NHL playoffs began on Saturday, April 20, 2024. Expect them to start around the same time this season.
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.

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.
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. 
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. 
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