2025 Stanley Cup Odds After NHL Trade Deadline: Trade Deadline Winners and Losers
The trade deadline has come and gone, with several Stanley Cup odds contenders hoping they did enough to strengthen their chances in the lead-up to the playoffs.
While a few marquee names were dealt, most deals were made to plug holes, increase depth and add veteran leadership. But who were the winners and the losers of the 2025 trade deadline? And how did all the deals impact the Stanley Cup odds?
Let's take a look at the 2025 Stanley Cup odds after the trade deadline.
π Did the NHL trade deadline impact the Stanley Cup odds?
Our Stanley Cup odds, featuring betting lines from our best sportsbooks, update in real time.
π Who are the trade deadline winners?
Our NHL trade deadline winners and losers are purely based on whether a team improved or worsened its chances of winning the Stanley Cup this year.
We're focusing on the biggest deals of the last few days, those that should move the needle on the ice and potentially at our best sports betting sites.
π Florida Panthers Stanley Cup odds (+650)
Stanley Cup odds before trade deadline: +800
Seth Jones anyone? Yes, he's overpaid. But the Panthers solved that quagmire by making sure the Chicago Blackhawks will retain 26% of his $9.5 million yearly salary.
I don't love seeing the Panthers part ways with 23-year-old goaltender Spencer Knight, who should be an excellent starter in the league for years to come. While losing Knight isn't ideal, Jones can help transition the Panthers from fourth to fifth gear.
Jones is not a top-two defenseman, although that's the role he was forced to play with the bottom-feeding Blackhawks. He'll make an excellent top-four D-Man in Florida, fitting in nicely behind the top pair of Aaron Ekblad and Gustav Forsling.
The Panthers didn't stop there and added Boston Bruins captain Brad Marchand just ahead of Friday's deadline. Marchand pairs up with Matthew Tkachuk for a two-headed monster nobody will want to face in the postseason. The 36-year-old has 21 goals and 47 points through 61 games this season.
Florida's Stanley Cup odds moved from +800 to +650 after the news of the Marchand signing broke, making them the new Stanley Cup odds favorites.
Panthers trade deadline grade: A
β Dallas Stars Stanley Cup odds (+700)
Stanley Cup odds before trade deadline: (+900)
Like the hero that swoops in and saves the day, the Dallas Stars have pulled off the best magic act of the trade deadline. Mikko Rantanen stayed in Carolina longer than many expected, which is saying something considering he was there only about six weeks.
Rantanen was traded to the Dallas Stars and then signed an eight-year, $96 million deal. The contract has an average annual value of $12 million.
In return for Rantanen, the Hurricanes received forward Logan Stankoven, a first-round and third-round pick in the 2026 NHL Draft, and a first and third in the 2027 NHL Draft.
It's a hell of a coup from a team that lacked an elite offensive weapon. And it has spring-boarded the Stars' to near the top of the perch, trading just behind the Panthers. With a new lease on life, I have no doubt Rantanen will live up to his potential in Big D.
Stars trade deadline grade: A-
β‘ Tampa Bay Lightning Stanley Cup odds (+1200)
Stanley Cup odds before trade deadline: (+1200)
Julien BriseBois is among the most savvy, risk-forward general managers and never rests on his laurels.
When you have a core group of elite players like Nikita Kucherov, Victor Hedman, Andrei Vasilevskiy, Brayden Point, and Brandon Hagel, why would you look toward the future? There is no point in saving draft picks for the next generation when you have the chance to win a third Stanley Cup in six seasons.
Lightning acquire Oliver Bjorkstrand and Yanni Gourde
His latest moves are quintessential BriseBois, as he acquired Oliver Bjorkstrand and former Lightning players Yanni Gourde, and a 5th-round pick in the 2026 NHL Draft in a three-team trade. The Lightning had to part ways with Michael Eyssimont, a conditional first-round pick in the 2026 NHL Draft and the 2027 NHL Draft, and a second-round pick in the 2025 NHL Draft.
Again, that's a lot to give up, but not if you only have eyes for the present.
Bjorkstrand has 38 points in 62 games and can be an asset on the power play. He has a wicked shot and is still only 29 years old. Gourde returns to the club where he won two Stanley Cups.
He's an all-rounder, excellent in both ends of the rink. The former Seattle Kraken teammates currently comprise two-thirds of a solid, uncompromising, yet offensively capable third line.
Lightning trade deadline grade: A-
β°οΈ Colorado Avalanche Stanley Cup odds (+1000)
Stanley Cup odds before trade deadline: +1200
Avs get Brock Nelson from New York Islanders
Like the Edmonton Oilers, the Avalanche are thin up front beyond the first two lines. Acquiring the 33-year-old Brock Nelson from the New York Islanders doesn't scream long-term winner. However, Nelson adds scoring depth, vast experience and a leadership presence in the immediacy that could prove invaluable in the postseason.
He played for 12 years with the Islanders (901 games) and was an alternate captain to Anders Lee, scoring 295 goals and 279 assists (574 points). Nelson has 43 points (20 goals and 23 assists) in 61 games this season. He's been hot lately, notching 10 points in the last seven games, and his 20 goals are just five less than Nathan MacKinnon's 25.
And who knows. Maybe, playing alongside the likes of Hart Trophy MVP odds contender MacKinnon and Norris Trophy odds favorite Cale Makar will revitalize Nelson's chances of cracking Team USA's Olympic roster next year. Remember, he was recently snubbed - and rightly so - in our Olympic Hockey AI roster predictions.
The Avs had to part ways with Calum Ritchie, a 2026 or 2027 first-round pick, a conditional 2028 third-round pick and Oliver Kylington. That's quite a bit to give up for a 33-year-old elder statesman.
But again, this trade inarguably makes them more well-rounded for an upcoming playoff run against the gauntlet of stacked Western Conference contenders. The Islanders also threw in William Dufour as part of the deal, who will be about as useful to the loaded Avalanche as a white crayon on white foolscap.
Avs acquire Charlie Coyle from Boston
The Avs also traded for Charlie Coyle, with Casey Mittelstadt going to Boston. Coyle, 33, is another veteran to add to the locker room. I wonder if Avalanche general manager Chris MacFarland had a vision, perhaps a dream about 33-year-old additions at the deadline propelling his team to glory.
Coyle is an excellent two-way right winger who adds more offensive depth. He can play in most situations and is built for a postseason run. Again, I don't love the long-term optics, but the Avs won't care about that, considering their win-now approach. The Avs also get a fifth-round pick in 2026, while the Bruins get a second-round pick in 2025 and prospect winger Will Zellers.
And while we're analyzing the best and worst "trade deadline deals," you can't help but applaud the work the Avs did at the end of January when acquiring Martin NeΔas in exchange for Rantanen.
Avalanche trade deadline grade: B
π’οΈ Edmonton Oilers Stanley Cup odds (+800)
Stanley Cup odds before trade deadline: +650
Oilers general manager Stan Bowman probably doesn't have any fingernails left after watching his team self-implode over the last month. The recent unraveling of Bowman's Stanley Cup odds favorites forced Bowman's hand, ensuring he would pull the trigger on a few moves before the deadline.
Oilers get Max Jones and Trent Frederic
The Oilers' Jeff Skinner experiment has failed miserably. And fellow pre-season arrival Viktor Arvidsson hasn't been much better. So, while bringing in Max Jones and Trent Frederic from the Boston Bruins won't strike fear into any would-be playoff opponents, at least the latter will inject some snarl, physicality, and a willingness to muck it up in the corners.
While his skill set hollers third-liner, the Oilers are so thin up front that he might get an opportunity to play on the second line with Leon Draisaitl. As long as his ankle heals quickly, it's an intelligent hockey move that aligns with their win-now motif.
Oilers land Jake Walman
The Oilers made an even more critical move when they acquired Jake Walman from the San Jose Sharks for a conditional first-round draft pick in 2026. Walman provides precisely what the Oilers require: a top-four defenseman who can chip in offensively while playing a sound, responsible, shutdown style in his own end. Edmonton needs that type of player more desperately than a starving animal requires food.
The Oilers' Stanley Cup odds lengthened at our best sports betting apps, moving from +650 to +850. I can see why their Stanley Cup odds lengthened, and it would have been much better had the Oilers traded for a bona fide No. 1 goaltender like John Gibson. But that was never a feasible scenario.
Oilers trade deadline grade: B-
π Toronto Maple Leafs Stanley Cup odds (+1300)
Stanley Cup odds before trade deadline: +1200
General manager Brad Treliving has done an excellent job since arriving in Toronto, acquiring Anthony Stolarz and Chris Tanev as his big-name signings. The pair have been among the Maple Leafs' best players this season.
And he saved what would have been an abysmal trade deadline day at the last hour by acquiring stay-at-home defenseman Brandon Carlo. Yes, it came at a substantial cost, but the Maple Leafs had to get this deal done considering the moves Atlantic Division rivals Tampa Bay and Florida made. At least it won't be all-out panic mode if Chris Tanev gets injured again.
The Maple Leafs also landed Scott Laughton from the Philadelphia Flyers in return for prospect Nikita Grebenkin and a conditional 2027 first-round pick.
The move addresses their need for a third-line center, but Laughton has never been more than a 0.5-point-per-game guy. Toronto's Stanley Cup odds at our best sports betting sites dropped from +1200 to +1800 but recovered to +1300 after news of the Carlo signing broke.
Maple Leafs trade deadline grade: C+
Who are the trade deadline losers?
πͺοΈ Carolina Hurricanes Stanley Cup odds (+1200)
Stanley Cup odds before trade deadline: +800
Losing Necas, who has thrived in Colorado since landing with the Avs, was bad enough. But at least the Hurricanes received Rantanen in return, right?
Not so much.
Rantanen and Carolina meshed like somebody chugging sour milk. And now the Hurricanes' previously top-tier offensive production has been left decimated. Stankoven will be an excellent addition for the Hurricanes' future. Unfortunately, nobody in Carolina at the moment is interested in the future.
Losing Rantanen will probably help the Hurricanes' chemistry, but I can't see them winning it all.
Hurricanes trade deadline grade: D
π New Jersey Devils Stanley Cup odds (+3300)
Stanley Cup odds before trade deadline: +1300
The Devils' Stanley Cup odds decreased from +1300 to +3300 after a largely inactive trade deadline and on the back of the news that Jack Hughes will miss the remainder of the season with a shoulder injury. On Thursday, they acquired Brian Dumoulin from the Anaheim Ducks for a second-round pick in the 2025 NHL Draft and forward prospect Herman Traff. Oh, and they got Daniel Sprong from Seattle for a 2026 seventh-round pick.
That's about it.
It's a catastrophic result for a Devils team that direly needed strengthening. If I were a Devils fan, I'd be as angry as, well, an aggrieved devil.
Devils trade deadline grade: F
π Did the trade deadline impact who will win the Stanley Cup?
Yes, unequivocally, yes.
A juggernaut with just one discernible weakness, the Stars were already built for the playoffs. They addressed their issue of not having an elite scorer issue with gusto, landing Rantanen in a move that will be seen as the most impactful at the deadline. We'll have to see whether Rantanen impacts the team on the ice as he does on paper.
The Panthers also upped the ante in a massive way, adding Jones and Marchand in the last hour. Marchand is a proven winner and joins former enemies Sam Bennett and Matthew Tkachuk in the Sunshine State, making a repeat Cup winner an increasingly likely scenario.
π Stanley Cup odds movement after trade deadline
- Panthers +800 to +650
- Stars from +900 to +700
- Oilers from +650 to +800
- Hurricanes from +800 to +1200
- Avalanche +1200 to +1000
- Jets from +1100 to +1500
- Maple Leafs from +1200 to +1300
- Devils from +1300 to +3300
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