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Last Updated: December 10, 2024 4:35 PM EST • 6 min 4 sec read.
To be a Stanley Cup odds favorite, a team must have gone through a slump or a sour patch of some sort. That now feels like a rite of passage.
The four Stanley Cup odds co-favorites—the Edmonton Oilers, Dallas Stars, Carolina Hurricanes, and Florida Panthers—have all struggled at one point this season. Such are the demands and rigors of an 82-game schedule.
The Oilers’ once firm grip on the favorite status has finally loosened at our best NHL betting sites. The Panthers are the hottest of the co-favorites, while the Stars and Hurricanes are currently bumbling and stumbling along. 
But in the end quality prevails, and all four should be in the mix come the spring. 
Here are some noteworthy takeaways from the odds thus far:  
Don’t wake a hibernating bear. That adage doesn’t really jive with the Oilers, who have seemingly and finally awoken naturally after oversleeping a couple of months. 
The Connor McDavid-led Oilers have won five of their last six games. It’s not just the results, but how the team is playing that will inject confidence into any Edmonton backer. 
I’ve sung this team’s praises since spring last season, and they possess everything—aside from an elite goaltender—needed to do one better than that heartbreaking result in Florida. The Oilers are 6-2-1 in their last eight road games and are tied with the Toronto Maple Leafs and Los Angeles Kings for the third-best overall points percentage (.676) since Oct. 30. 
They’re also starting to heat up at home, winning five of the previous six at Rogers Place. I doubt their odds will lengthen more than this, so jump aboard the wagon if you’re inclined.  
Best odds: +1000 via Caesars | Implied probability: 9.09%
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I still believe in the Winnipeg Jets’ Stanley Cup pedigree, but the Capitals must be featured. Their +3500 odds currently represent the best Stanley Cup futures value. Spencer Carbery, the Jack Adams odds favorite, has done a masterful job pulling the strings in his first year as the team’s head coach. 
The Caps were thrown a T-Rex-sized bone last season and stumbled into the playoffs with a minus-36 goal differential (the worst in 33 years). Now the Caps boast the best goal differential (plus-35) over two months into the season. 
Washington is even excelling without the Great 8, winning six of the last seven in their captain’s absence.
The Caps have won nine consecutive road games, setting a franchise record. They notched impressive victories along the way, besting Toronto, New Jersey, Tampa Bay, Florida, Vegas, and Colorado.
If the Caps can maintain this torrid pace, a winning $10 bet would profit $350. 
Best odds: +3500 via DraftKings | Implied probability: 2.78%
A curse worse than being on the cover of the Madden video game? Yeah, that might just exist. 

The NHL awards the Presidents’ Trophy to the team with the best regular-season record, which rarely leads to winning the Stanley Cup.
The last time a team finished with the best regular-season record and hoisted Lord Stanley’s Cup was over a decade ago in 2012-13, when the Chicago Blackhawks achieved the double. 
But you can bet on which team will drive for show in the regular season and fail to putt for dough in the postseason.
Here’s a look at the number of Stanley Cups won by division since the NHL adopted the four-division format for the 2013-14 season.
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, Carolina Hurricanes, Florida Panthers, and Dallas Stars are the 2024-25 Stanley Cup odds co-favorites. Their best odds stand at +1000, representing an implied win probability of 9.09%, 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 regular season will officially begin on Oct. 4, 2024, when the Buffalo Sabres and New Jersey Devils play the first of two games in Prague.
Florida will begin its season against Boston on Oct. 8, 2024, the first night of regular-season hockey on North American soil. 
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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