Stanley Cup Odds & Favorites 2025: Hurricanes Back on Top; Oilers Surging

The Carolina Hurricanes (+480) are the Stanley Cup odds favorites after advancing to the second round, and the Edmonton Oilers odds surged after winning Game 5 in Los Angeles.

Gary Pearson

Last Updated: April 30, 2025 9:12 AM EDT • 7 min read

2025 Stanley Cup odds. — Pictured: Carolina Hurricanes center Sebastian Aho scores the game-wining goal in the second overtime. Photo by James Guillory via Imagn Images

Storm surge, anyone?

The Carolina Hurricanes resembled a Category-5 storm in Game 5 while advancing past the injury-ravaged New Jersey Devils.

With the double-overtime victory and passage into the second round, the Hurricanes are the Stanley Cup odds favorites, trading just ahead of the Florida Panthers.

Meanwhile, the Edmonton Oilers are surging after winning three straight against the Los Angeles Kings in the most improbable fashion. Here are the Stanley Cup odds as the end of the first round nears.

👉 See the latest Conn Smythe Trophy odds for our best picks on the NHL playoffs MVP.

🔢 Stanley Cup odds 2025

Our Stanley Cup odds update in real time throughout the NHL playoffs. See the NHL odds for the best odds on each game this postseason.

🏆 Stanley Cup odds favorites 2025

Hurricanes Stanley Cup odds: +480

The Hurricanes are the first team into the second round. However, I don't feel exceedingly confident about Rod Brind'Amour's team.

Carolina ousted an injury-ravaged New Jersey Devils club. While the Hurricanes were busy pummelling Jacob Markstrom in Game 5 with 54 shots en route to advancing, I'm not sold on a few facets.

The team was woeful on the road for most of the season, and its No. 1 goaltender went down with yet another injury. The oft-injured Frederik Andersen is key to any Stanley Cup run, and he's never proven durable or resilient enough in the postseason. The team's Cup odds are too short to get behind.

Best Stanley Cup odds: +480 via Caesars | Implied probability: 17.24%

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🐆 Panthers Stanley Cup odds: +520

The Panthers are on the cusp of the second round while needing one victory. Aaron Ekblad will miss the next two games after his suspension for a high hit on Brandon Hagel in Game 4.

Ekblad returned for two games following his 20-game suspension. Meanwhile, Matthew Tkachuk avoided disciplinary action after his late hit on Jake Guentzel.

That spicy action is quintessentially Florida.

Toss in Sam Bennett and Brad Marchand, and you have a bash-brothers quartet that will not only get under the opposition's skin and inflict pain, but also hurt them on the scoreboard. With Sergei Bobrovsky rounding into his playoffs-best, the Panthers are a solid pick.

Best Stanley Cup odds: +520 via Caesars | Implied probability: 16.13%

🛢️Edmonton Oilers Stanley Cup odds

Best Stanley Cup odds: +900 via DraftKings | Implied probability: 10%

I've been backing the Oilers to win the Cup since the preseason. My faith in the team waned after Mattias Ekholm went down with an injury that will keep him out for most, if not all, of the playoffs. However, the more I watch them, the more I feel anything is feasible with a healthy Connor McDavid and Leon Draisaitl.

The collective has been improving recently, with role players starting to step up. Evander Kane is almost back to his best, and Calvin Pickard has held his own since taking over for Stuart Skinner.

Even Trent Frederic is slowly becoming more integral as a role player. After seeing what the Oilers did to the Los Angeles Kings in the third period of Games 3 and 4, it's easy to keep dreaming of a championship in Alberta's capital.

👀 Stanley Cup Playoffs betting insights

Here is how the betting action looked at BetMGM as of April 30.

Line Movement (Round 1 to Now)

Hurricanes +800 ➡️ +425
Panthers +750 ➡️ +500
Maple Leafs +1200 ➡️ +900

Highest ticket %	Highest handle %	Biggest liabilities
Avalanche (12.1)	Avalanche (13.1)	Blues
Maple Leafs (10.8)	Maple Leafs (12.1)	Canadiens
Golden Knights (8.3)	Jets (9.2)	Jets

🧠 Stanley Cup predictions, expert picks

Odds to win the Eastern Conference

The Hurricanes and Panthers, unsurprisingly, lead the odds to win the Eastern Conference and make the Stanley Cup Final. The Toronto Maple Leafs and Washington Capitals round out the four first-round series favorites.

Odds to win the Western Conference

The Dallas Stars are once again the betting favorites to represent the Western Conference in the NHL Final. They won Monday's Game 5 by a convincing 6-2 count at home and will have their first chance to advance to the second round on Thursday.

📖 Opening Stanley Cup odds

Panthers: +900
Avalanche: +1000
Stars: +1000
Oilers: +1000
Hurricanes: +1100
Golden Knights: +1200
Devils: +1300
Rangers: +1300
Maple Leafs: +1600
Bruins: +2000
Lightning: +2000
Canucks: +2000
Kings: +2200
Jets: +2200
Predators: +3500
Red Wings: +4000
Wild: +4000
Islanders: +4000
Senators: +4000
Penguins: +4000
Blues: +4500
Sabres: +5000
Flyers: +5000
Flames: +6600
Kraken: +8000
Utah: +10000
Capitals: +10000
Canadiens: +15000
Blue Jackets: +25000
Ducks: +30000
Blackhawks: +30000
Sharks: +30000

📜 Stanley Cup betting history

Here are recent Stanley Cup winner and their preseason betting odds:

Year	Team	Preseason 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
2014	Los Angeles Kings	+1200

📋 How to read Stanley Cup odds

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.

🎟️ How to bet on Stanley Cup futures odds

The first and most important step is to sign up for one of our best NHL betting sites , including FanDuel, DraftKings, bet365, Caesars, and BetMGM.

The aforementioned sportsbooks offer various bets, odds, and opportunities, so shop around before you sign up for the best sportsbook promos. It's also a good idea to sign up for a couple of your favorites sportsbooks, as you can earn sign-up incentives while using them for the varying strengths.

Once you've signed up, navigate to the NHL page under Stanley Cup. You can then choose the team or teams you believe have the best chance of winning it all. Remember, these odds fluctuate throughout the season and playoffs, so keep a watchful eye on the market and make your pick at the most opportune moment.

❓ Stanley Cup Final FAQs

Who is the Stanley Cup Final favorite?

The Carolina Hurricanes are the 2025 Stanley Cup odds favorites. Their best odds stand at +480, representing an implied win probability of 17.24%, according to our odds converter.

Who won the Stanley Cup last year?

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.

When did the NHL playoffs start?

The playoffs started on Saturday, April 19.

When does the Stanley Cup Final start?

The 2024 Stanley Cup Final began Saturday, June 8 and finished on June 24. Those are rough dates to expect the 2025 final to be played.

Has a team ever come back from 3-0 to win the Stanley Cup?

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.

When was the last back-to-back Stanley Cup winner?

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.

When was the last Stanley Cup three-peat?

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.

🥅 NHL betting odds pages

Stanley Cup Odds	Hart Trophy Odds	Calder Trophy Odds
Norris Trophy Odds	Vezina Trophy Odds	Rocket Richard Odds
Jack Adams Award Odds	Conn Smythe Trophy Odds	NHL Draft Odds

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Written By:
Gary Pearson

Gary Pearson has written professionally since 2010, focusing on sports betting since 2014. Before entering the sports betting space, he contributed to the Canadian Press, FanSided, the Hockey Writers, the Calgary Herald, and other publications. His work has also been featured in Sports Illustrated and Bleacher Report. Gary, who consumes sports like a blue whale devours plankton, has a penchant for writing predictions and analyses across several sports, including hockey, soccer, football, tennis, and more. He bets regularly, preferring single-game picks, props, and live betting. While there isn't a sport he has yet to dabble in, Gary prefers betting on soccer, hockey, and football. He studied at various post-secondary institutions, including the University of Calgary, SAIT Polytechnic, and Griffith University, located in Brisbane, Australia. Gary has a marketing degree and completed his bachelor's degree in journalism at Griffith University. He feels strongly that life experience is as essential as post-secondary education, helping formulate more accurate predictions and analyses. Gary believes that competing at a high level of amateur sports during his formative years helped him better understand an athlete's psyche and the nuances and complexities of a team's dynamic, both on and off the playing surface. He feels that knowledge is immeasurably important when offering his analytical expertise. He has lived on five continents and currently resides in Canada.