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Last Updated: February 27, 2025 8:38 PM EST • 6 min 43 sec read.
With the Edmonton Oilers sputtering, is there any chance of another team taking the top spot as the Stanley Cup odds favorite? The Oilers remain atop the odds leaderboard at our best NHL betting sites, but they’re doing their utmost to allow other teams back into it.
That said, the Carolina Hurricanes wouldn’t be able to find consistency if it slapped them in the face, and the Florida Panthers haven’t sourced last year’s Stanley Cup-winning pedigree. 
On the other hand, Dallas, Washington, and Winnipeg are gleaming examples of what a Stanley Cup favorite should look like. They are the best of the bunch despite trailing the Oilers and Hurricanes. 
Here are some noteworthy takeaways from the Stanley Cup odds:  
The Oilers are ensnared in their worst rot of the season, losing six of eight games. That’s okay, though. If there’s any best time to endure a slide of this severity, it’s now. That way, they can get right for March and April and enter the postseason at their free-flowing best. 
Kris Knoblauch’s team has been terrible defensively lately, and that will need to change for this team to have any chance in the postseason. I’m not worried, though, as I expect them to figure things out soon. The season is too long not to endure at least one rough patch. 
I’m still aboard the Oilers’ locomotive. 
Best Stanley Cup odds: +600 via FanDuel | Implied probability: 14.29%
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The Hurricanes’ Stanley Cup odds finally decreased after an extended patch of inconsistency. As things stand, I wouldn’t trust Carolina as far as their wimpish wind could throw things. The Hurricanes are, at best, a light breeze, and it’s been that way for about three months. 
Since Nov. 9, the Hurricanes have the 18th-ranked points percentage (.543). That’s nowhere near good enough for a perceived Stanley Cup odds contender. I’ve veered away from this team until they prove otherwise. 
Their odds lengthened from +700 to +800 over the last week.
Best Stanley Cup odds: +800 via FanDuel | Implied probability: 11.11%
The Jets have won 11 straight, giving off a too-good-to-true aura, mirroring how I feel about the Capitals. The Flames ended their home-point streak at 16 games (11-0-5). Excluding that defeat, the Caps are undeniably the class of the Eastern Conference, the only team that never lets their foot off the gas. 
The Great 8 can’t be stopped, evidenced by the Alexander Ovechkin goals record odds. However, their Cup odds are finally improving consistently, draining the extra value from when the oddsmakers had them undervalued as contenders.  
You can still make the most of the +1200 odds DraftKings offers. That number is down from +1400 last week. Remember, they traded at +2500 six weeks ago at our best sports betting sites. So, can they play like this in the postseason? At the moment, there are no red flags to speak of.
Best Stanley Cup odds: +1200 via DraftKings | Implied probability: 7.69%
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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 2025 Stanley Cup odds favorites. Their best odds stand at +650, representing an implied win probability of 13.33%, 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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