The Colorado Avalanche entered the 2026 NHL playoffs as the Stanley Cup favorite at +300 odds, according to BetMGM. The Avalanche are followed by the Carolina Hurricanes (+475) and Tampa Bay Lightning (+550).
The defending champion Florida Panthers did not get a shot to three-peat after missing the postseason. That’s great news for the Edmonton Oilers, who lost to the Panthers in the Stanley Cup Finals in the last two postseasons. With their nemesis gone, the Oilers are +1300 odds to win the Cup this year.
Now let’s break down contenders by tier for the 2026 Stanley Cup:
Cup Frontrunner: Avalanche
When the Avalanche won the Cup in 2022, “dynasty” was whispered up and down the front range of the Rocky Mountains. The follow-up never happened, and fans are still waiting for a second championship under head coach Jared Bednar. They won only one playoff series in the last three years, with two disappointing exits in the first round.
The Avalanche (55-16-11) looks like a team on a mission, leading the NHL with 121 points. Superstar Nathan MacKinnon posted a career-high 53 goals and added 74 assists.
Success in the playoffs comes down to the hottest goalie. The Avalanche boasts the best tandem in the league. Scott Wedgewood (31-6-6) is a stonewall in the crease, leading the NHL in goals against average (2.02) and save percentage (.921). Mackenzie Blackwood is a reliable backup (2.51 GAA). The Wedgewood/Blackwood combo and MacKinnon are the main reasons why the Avalanche are the outright favorite at +300.
Top Shelf: Hurricanes, Lightning
Jon Cooper led the Tampa Bay Lightning to back-to-back championships in 2020 and 2021, before the Avalanche denied them a three-peat in 2022. Based on betting trends, the Lightning and Avalanche are on another collision course for a rematch in the finals. The Lightning were one of the preseason favorites and entered the playoffs as the third Cup favorite at +500. Nikita Kucherov tied a career-high with 44 goals and finished second in the NHL in points. Andrei ‘Big Cat’ Vasilevskiy (39-15-4) posted the best record among goalies this season. Big Cat ranks second in goals against (2.31) and third in save percentage (.912).
The Hurricanes lived up to their preseason hype as the outright favorite (+750) to win the Cup. They completed the regular season as the best team from the Eastern Conference with 113 points and entered the playoffs as the second favorite (+475). Nikolaj Ehlers silenced skeptics when the veteran appeared in every game and tallied a career-high 71 points and 45 assists. He also scored 26 goals, for the third-best output of his career. Goalie Brandon Bussi is ranked sixth, allowing only 2.47 goals per game. Backup goalie Frederik Andersen finished the season on a hot streak.
Value Hunting: Sabres, Golden Knights, Stars, Wild
The Vegas Golden Knights won the Stanley Cup in 2023, but they’ve struggled in the playoffs, winning only one series since that magical run. Still, they enter the postseason among the favorites at +900. After a collapse in March, the Golden Knights fired head coach Bruce Cassidy when he lost the locker room. John Tortorella took over, and the Golden Knights finished the season with a 7-0-3 surge. They’re peaking at the right time, but their goalie situation is a little murky.
If you love a feel-good story, then the Buffalo Sabres (+1400) are your team. They had not qualified for the postseason in 14 years and were near the bottom of the futures board (+10000) when the season began. They skated to the second-best record in the East and secured their first division title since 2010. Tage Thompson fired up the fervent fan base with two goals and an assist in a comeback victory against the Boston Bruins to start their first-round series.
The Dallas Stars (+1000) had several near misses with three consecutive trips to the conference finals but zero appearances in the Stanley Cup Finals. The Oilers had their number the last two postseasons, but could this be the year the Stars finally get over the hump?
Don’t sleep on the Minnesota Wild (+1800), especially against a vulnerable Stars squad in the first round. What’s better than one Swedish goalie? How about two? Jesper Wallstedt and Filip Gustavsson anchor the Wild’s defense, while Kirill Kaprizov (45 goals) and Matt Boldy (42 goals) provide the offensive firepower.
Canadian Drought: Senators, Oilers, Canadiens
BetMGM offers a popular prop bet on the country of the Stanley Cup winner. With 13 American teams in the playoffs, the USA is heavily favored at -750. Only three teams from Canada are in the hunt for the Cup, which is why they’re an underdog at +525 to end a 33-year drought.
The Montreal Canadiens, Cup winners in 1993, were the last champions from Canada. The Canadiens improved from +3500 to +1500 after a Game 1 upset over the Lightning in overtime. The dynamic duo of Cole Caulfield (51 goals) and Nick Suzuki (101 points) makes the Canadiens must-see TV. Only MacKinnon scored more goals than Caulfield, who had his best season as a pro.
The Ottawa Senators entered the postseason at +1300 despite a brutal first-round draw against the Hurricanes. After dropping the first two games, their price tumbled to +4500.
The Canadian club best equipped to hoist the cup is the Oilers, who last won a championship in 1990. With a healthy Connor McDavid, the Oilers are perennial contenders. McDavid posted the second-highest scoring season of his career with 138 points. The Oilers opened the postseason at +1300, but their odds bumped to +950.
Long Shots: Penguins, Mammoth, Flyers
Bookies had little faith in the Pittsburgh Penguins, which is why they opened the season in the bottom five on the futures board (+20000). They have a well-balanced scoring attack, but their shaky goaltending is a liability. The Penguins square off against the Philadelphia Flyers in a first-round battle of Pennsylvania rivals. The Penguins saw their odds decline from +2500 to +8000 after falling behind 0-2 in the series.
Expectations for the Philadelphia Flyers were low this preseason (+15000). The gritty squad gutted out a Wild Card spot and began the postseason as the second-highest long shot (+7000) on the board. The Flyers made things interesting by beating the Penguins on their home ice to start the series. With the 2-0 lead, the Flyers saw their odds jump to +2800.
Meanwhile, playoff hockey arrives in Utah. The Mammoth qualified for the postseason for the first time since relocating to Salt Lake City. They’re a long shot at +3500 after drawing Vegas in the first round.
Better Luck Next Year: Bruins, Kings, Ducks
The outlook for the Boston Bruins this year was grim, with a preseason win total of 80 points. They easily cleared the Over with 100 points by holding their own in a top-heavy Atlantic Division. The Bruins face the mighty Sabres in the first round. After blowing a two-goal lead late in Game 1, the Bruins saw their price slide from +5500 to +8000.
The L.A. Kings snuck into the playoffs as a Wild Card, but have the worst home-ice record out of all playoff teams. At this time of year, fair-weather fans in L.A. are all-in on the Lakers, so don’t expect the Kings to get out of the first round. After a Game 1 defeat to the Avalanche, their odds plummeted from +6000 to +15000.
The Anaheim Ducks need some Disney magic if they expect to upset the Oilers in the first round. The Ducks opened the playoffs at +8000 and quickly slipped to +12500 after losing Game 1.
Finals Prediction: Avalanche over Hurricanes
Value Play: Sabres
Oh, Canada: Oilers (if I had to pick a Canadian team)
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