The road to the Stanley Cup is never a straight line; it twists and turns with every big moment throughout the season. Even now, as we approach the 30-game mark, we’ve already seen some major momentum shifts among the league’s top teams. This is why the NHL futures market is always changing.
Stanley Cup odds are shifting constantly to account for the latest developments around the league. Wins and losses play a part, but key injuries, big trades and even goaltending performance can impact a team’s chances of going all the way.
Whether you’re a sports bettor looking for value or just a hockey fan following the action, following the Stanley Cup odds is the quickest way to see which teams are gaining momentum and which ones are falling behind.
Let’s take a quick look across the current NHL landscape and highlight the favourites to win this year’s Stanley Cup. We’ll also cover a few rising contenders, as well as some teams that are beginning to fade from the market.
Cup Favourites
Colorado Avalanche +350
19-1-6, 1st in Central Division
With just one regulation loss, the Avalanche have been an absolute juggernaut so far this season. They lead the NHL in both goals for (106) and goals against (56), showcasing the team’s unique blend of offensive firepower and stifling defence. While Nathan MacKinnon and Cale Makar were expected to dominate, Colorado has gotten great production from guys like Martin Necas, Artturi Lehkonen and a revitalized Gabriel Landeskog. With solid depth and two of the best players in the world, the Avalanche are the clear favourite to win the Stanley Cup.
Florida Panthers +800
12-12-1, 8th in Atlantic Division
Sometimes a team’s Stanley Cup odds are based more on past results rather than current performance. That seems to be the case with this year’s Panthers squad, as the two-time defending champions own the second-shortest Cup odds despite playing .500 hockey over their opening 25 games. Aleksander Barkov and Matthew Tkachuk remain out indefinitely, but Florida is battling hard with veterans like Brad Marchand and Sam Reinhart leading the way. If this team can keep its head above water until Tkachuk returns to the lineup, we could see them make a run at a third-straight Stanley Cup.
Major Threats
Carolina Hurricanes +825
16-7-2, 2nd in Metropolitan Division
A perennial contender in recent years, the Hurricanes have found their usual place near the top of the Eastern Conference standings. Carolina is getting steady production from Sebastian Aho and Seth Jarvis, while offseason addition Nikolaj Ehlers is providing the team with greater scoring depth. They also remain one of the steadier teams defensively, allowing a league-low 612 shots against to this point. The Hurricanes will almost certainly be in the mix when the playoffs roll around, but it remains to be seen if they can finally break through to reach the 2026 Stanley Cup Final.
Vegas Golden Knights +850
12-6-8, 2nd in Pacific Division
Already one of the better teams in the NHL, the Golden Knights are once again expected to contend for the Stanley Cup. Loaded with talented forwards like Jack Eichel, Mark Stone and Tomas Hertl, the addition of Mitch Marner this summer has made them even more dangerous. Vegas ranks among the top teams in the league in shots per 60 and suppressing high-danger chances, a sign they’re competitive at both ends of the ice. Only two seasons removed from their 2023 Cup win, the Golden Knights have all the tools needed to do it again.
Fading Fast
Winnipeg Jets +2800
13-12-1, 6th in Central Division
After starting the season with high expectations, things are quickly beginning to spiral in Winnipeg. Fresh off their first Presidents Trophy in franchise history, the Jets were dealt a major blow when they lost goaltender Connor Hellebuyck to injury. Without the defending Hart Trophy winner, Winnipeg has floundered. Kyle Connor and Mark Scheifele continue to produce, but their once-feared blue line has regressed and backup netminder Eric Comrie has struggled with consistency. There’s still time to get this season back on track, but the Jets’ Cup odds are getting longer by the day.
Toronto Maple Leafs +3300
12-11-3, 6th in Atlantic Division
Few NHL teams have seen their Stanley Cup odds shift as much as the Leafs this season. Toronto has been one of the league’s better regular season teams in recent years, but has been unable to raise their game in the postseason. With Mitch Marner shipped off to Vegas and Auston Matthews struggling to get going, this Leafs squad seems to be searching for an identity. It doesn’t help that Anthony Stolarz has been shaky in net, which has undoubtedly contributed to Toronto’s inability to close out games. With doubt spreading throughout the GTA, it looks like Toronto’s 58-year Cup drought will continue for another season.