With massive moves at the 2025 NHL trade deadline, we've seen a big shakeup at the top of Stanley Cup Odds.
The Florida Panthers and Dallas Stars made the biggest moves at the deadline, and now they're the top two squads in 2025 Cup odds, per Site. After that top tier, we've got the Oilers, Avalanche, and Capitals also hanging around the top of 2025 Stanley Cup odds.
Are the Stars or Panthers going to run away with things after a massive deadline? Or is there still value down the board?
2024-25 Stanley Cup Odds
| Teams | Odds |
|---|---|
| Florida Panthers | +525 |
| Dallas Stars | +550 |
| Edmonton Oilers | +700 |
| Colorado Avalanche | +900 |
| Washington Capitals | +900 |
| Carolina Hurricanes | +1100 |
| Vegas Golden Knights | +1100 |
| Tampa Bay Lightning | +1200 |
| Toronto Maple Leafs | +1200 |
| Winnipeg Jets | +1200 |
Odds as of Março 12th, 2025 19:40pm EDT. |
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Stars & Panthers: Cup Favorites After Big Trades
The Panthers are the reigning champs and they got even better at the 2025 trade deadline. I'm not sure we'll see much of an impact in the rest of the regular season, but by the we get to the playoffs this team is fully loaded. The Panthers will get back Brad Marchand, Matt Tkachuk, and a suspended Aaron Ekblad for the games that really matter. Florida also added Seth Jones and some depth in forward Nico Sturm and goalie Vitek Vanacek.
The Stars also loaded up. This was a great team with Cup aspirations before the trade deadline and they just added arguably a top-10 forward in hockey in Mikko Rantanen. The Stars currently sit second in the West and went to the Conference Final last year, but now they're better than ever.
It's hard to see a team with Rantanen, Jason Robertson, Roope Hintz, Miro Heiskanen, Jake Oettinger, and elite depth not making a deep run. This team is rightfully at the top of 2025 Cup odds and I'd argue they should be the favorites.
Stanley Cup Odds Best Value Bet: Winnipeg Jets
The Jets should be Stanley Cup favorites in my opinion. So, stuck in a messy tier two of odds, they're still insane value. Winnipeg has best record in hockey, recently rattled off an 11-game win streak, and seem destined to finish as the top team in the West.
This team looks unbeatable. They have the most goals for in the league, the fewest against, and added even more thump at the deadline.
I know Winnipeg has flopped in the playoffs before, but this year just seems different. Kyler Connor and Mark Scheifele lead a group on pace for five 20-plus goal scorers, Josh Morrissey might be the NHL's most underrated defensemen, and Connor Hellebuyck proved he can rise to the occasion of big games at the 4 Nations. Add meaty lads like Brandon Tanev and Luke Schenn at the deadline, and this team has it all to be the Cup favorites.
2025 Stanley Cup Betting Handle & Data
We've got some recent betting data from Site, and the Avalanche have jumped to the top of the most-bet teams. It was Edmonton and Toronto as the Cup champ ticket leaders for most of the season, but bettors love the Colorado value these days.
If you look at where the money is going, you can see the sharps aren't exactly in line with those Edmonton and Toronto picks. Smart money has the underperforming Rangers and my best pick in the Jets as the most-wagered squads this season. The Rangers are a deep cut, for sure, but I could see a New York surprise run if they get things together down the stretch.
Most-Bet Teams (Total Bets)
- Avalanche 8.8%
- Oilers 8.5%
- Maple Leafs 8.1%
Most-Bet Teams (Total Money)
- Jets 12.0%
- Rangers 10.%
- Oilers 8.8%
Last 10 Stanley Cup Winners
| Year | Cup Champions | Opening Odds |
|---|---|---|
| 2024 | Florida Panthers | +2000 |
| 2023 | Vegas Golden Knights | +1800 |
| 2022 | Colorado Avalanche | +600 |
| 2021 | Tampa Bay Lightning | +900 |
| 2020 | Tampa Bay Lightning | +675 |
| 2019 | St. Louis Blues | +3000 |
| 2018 | Washington Capitals | +1125 |
| 2017 | Pittsburgh Penguins | +1100 |
| 2016 | Pittsburgh Penguins | +1300 |
| 2015 | Chicago Blackhawks | +700 |
Over the past 10 years, the average opening odds for the eventual Stanley Cup champions are +1320. So don't always bet on the chalk.
The Blues are the big exception with +3000 before the ’18-19 season began, netting early bettors $3,000 on a $100 bet, but it gets better! By the All-Star break that year, the Blues were at the bottom of the NHL standings – their odds of winning the Stanley Cup were +10000. That means a $100 bet would have returned a whopping $10,000 in profits. Wild.
NHL Teams With The Most Stanley Cups
| Team | Stanley Cups | Last Cup Win |
|---|---|---|
| Montreal Canadiens | 24 | 1993 |
| Toronto Maple Leafs | 13 | 1967 |
| Detroit Red Wings | 11 | 2008 |
| Boston Bruins | 6 | 2011 |
| Chicago Blackhawks | 6 | 2015 |
| Edmonton Oilers | 5 | 1990 |
| Pittsburgh Penguins | 5 | 2017 |
| New York Islanders | 4 | 1983 |
| New York Rangers | 4 | 1994 |
| New Jersey Devils | 3 | 2003 |
Toronto sure has a lot of Cups, but they haven't won or even been to a Stanley Cup Final since that last championship back in 1967. Breaking their drought of first-round exits in the 2023 playoffs, let’s pray for Leafs fans that their squad can get to the finals soon.
However, with modern parity in the NHL, it will be long before any franchise passes the Montreal Canadiens' 24 Stanley Cup banners, which they racked up over multiple decades in the mid-1900s.
NHL Teams That Have Never Won A Stanley Cup
With Florida's championship in 2024, there are now only 10 teams who haven't won a Cup. But that's still under a third of the league, who have yet to put their hands on the Stanley Cup.
Most of the teams on this list have come close. All but Arizona, Columbus, Minnesota, Seattle and Winnipeg have at least appeared in a Stanley Cup Final.
Technically the Ottawa Senators did win a few Stanley Cups, but that last championship took place before the invention of penicillin, not to mention the Senators didn't exist between 1934 (when they moved to St. Louis) and 1992. So, I'm not going to count those. Sorry Sens fans!
Stanley Cup Betting Odds and Trends
As hockey bettors, we're always hunting for an edge or trends that make our wagers a little easier on the mind -- when it comes to the Stanley Cup, there are a few notable patterns we can pick up on. The trophy is still anyone's game, but here are a few common trends over the last few years that could help you narrow down a pick:
- When it comes to picking a favored conference, it’s pretty split – out of the last 10 winners, 60% have been Eastern teams and the West claims 40%.
- The Cup is a repeat-friendly trophy. The Penguins and Lightning have both gone back-to-back in the last 10 years, and 16 teams total have had repeat victories since 1918.
- You’d think regular season domination would indicate a Stanley Cup favorite, but the President’s Trophy has only gone to the eventual winner of the finals eight times in its 35-year lifespan. Take a look at the 2023 Bruins – the best record in NHL history with a first-round exit. Yikes.
Odds Shark's NHL Betting Resources
How To Bet On Stanley Cup Odds
To bet on Stanley Cup odds, you’d make a futures bet on your sportsbook's NHL section of the website. You'll likely see a tab for futures options and the NHL finals should be a front-and-center option. Don't be afraid to review our NHL betting guide for a few friendly tips and tricks if you're debating a wager on the Stanley Cup!
Odds are available before the puck drops in the regular season -- certain teams will always be contenders, especially if they won the Cup the previous year. When sportsbooks set the lines, they look at offseason roster moves, coaching changes and past performance specifically of the prior season.
Where To Bet On The Stanley Cup Futures
You can find updated Stanley Cup odds at most sportsbooks – the lines may differ slightly depending on which book you use, so be sure you're getting the best value for your money. If you're looking for recommendations on choosing the best book head over to our NHL sites review page!
How To Read Stanley Cup Odds 2024
Let’s say you want to make afutures bet today. The Stanley Cup odds might look something like this:
- Colorado Avalanche +300
- Toronto Maple Leafs +550
- Vegas Golden Knights +800
- Carolina Hurricanes +900
- Edmonton Oilers +1100
If you feel strongly about the Leafs and believe they’ll end their Stanley Cup drought, you could wager $100 on them at +550 odds. If they triumph, you’d get a payout of $650 – your original $100 is returned along with winnings of $550. Our odds calculator will show you how much you’d win based on the odds and amount bet.
The Stanley Cup odds constantly change throughout the season – relevant news like trades, player injuries, and hot/cold streaks are a few examples of what can move a team’s line. If you see Stanley Cup odds you like, it’s best to bet on them ASAP – the Leafs may be +550 to win the Stanley Cup in October, but after a surge in December, their odds could lower to +300. Bet smart and bet early.
What Are Stanley Cup Futures
A futures bet is betting on the outcome of an event before it takes place – when it comes to the Stanley Cup, that means betting on who will hoist the league's top trophy well before it's awarded.
It’s simple on paper, but the wealth of options can make it tricky. Don’t worry if you’re risk-averse though. Odds are available well right up to the final game of the playoffs.
