NHL Stanley Cup Odds

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Stanley Cup odds are often reflective of how the previous season played out. But they also take into consideration the expectations for specific teams. That is why the 2020 Stanley Cup winner, the Tampa Bay Lightning, opened as the favorite at many books, with the Colorado Avalanche close behind.

By the time the regular season started, they were co-favorites. But the Avalanche has been the odds-on favorite since late March/early April.

Current Stanley Cup Odds


COL Avalanche 14.29%
TB Lightning 12.50%
VGS Golden Knights 10.53%
BOS Bruins 7.69%
TOR Maple Leafs 7.69%
CAR Hurricanes 4.76%
FLA Panthers 4.76%
NY Islanders 4.76%
PIT Penguins 4.76%
EDM Oilers 4.35%

Implied probabilities are calculated using odds offered by BetMGM.
Last Updated: 2021-09-28 00:00:00 PDT.

+700 +700 +600 +438 27.68% 14.58% 14.58% 14.31%
+700 +850 +700 +531 22.77% 10.93% 10.93% 10.93%
+475 +600 +550 +506 16.77% 1.08% 1.08% 1.08%
+5000 +4000 +5000 +3553 9.66% 7.54% 7.54% 7.54%
+900 +1200 +1200 +1038 8.98% 0.52% 0.52% 0.82%
+1700 +2000 +1700 +1450 8.97% 3.68% 3.94% 4.04%
+1200 +1200 +1400 +1225 7.60% 0.25% 0.25% 0.25%
+2500 +2000 +2000 +2175 4.43% -0.03% -0.03% -0.19%
+1800 +2000 +2200 +2325 4.33% -0.46% -0.46% -0.46%
+2500 +2200 +2500 +2250 4.33% 0.31% 0.31% 0.15%
+2500 +2000 +2200 +2500 3.98% -0.34% -0.34% -0.34%
+2000 +2200 +2900 +3025 3.60% -0.55% -0.55% -0.41%
+2200 +2500 +2400 +3275 3.46% -0.61% -0.61% -0.44%
+3000 +3000 3.23% 0.00% 0.00% -0.62%
+2500 +2300 +3825 3.14% -0.87% -0.87% -0.87%
+3500 +3500 +2800 +3700 2.74% -0.26% -0.40% -0.40%
+4000 +3000 +2900 +52475 2.26% -0.74% -0.74% -1.00%
+4000 +5000 +4500 2.20% 0.00% 0.00% 0.13%
+4500 +4000 +4100 +5650 2.00% -0.33% -0.33% -0.33%
+5000 +3500 +4100 +8150 1.91% -0.46% -0.46% -0.62%
+4500 +4000 +4100 +78150 1.76% -0.57% -0.57% -0.57%
+4500 +4000 +4800 +78325 1.67% -0.55% -0.55% -0.48%
+5000 +5000 +4800 +13700 1.55% -0.44% -0.44% -0.44%
+10000 +6600 +8500 +7525 1.40% 0.19% 0.19% 0.19%
+6000 +5000 +7000 +54500 1.27% -0.40% -0.40% -0.40%
+20000 +15000 +10000 +12250 1.15% 0.43% 0.43% 0.43%
+10000 +6600 +8500 +56275 0.92% -0.29% -0.29% -0.40%
+10000 +8000 +8500 +81625 0.85% -0.28% -0.28% -0.28%
+20000 +10000 +15000 +16250 0.66% -0.06% -0.06% -0.06%
+20000 +15000 +10000 +21250 0.60% -0.12% -0.12% -0.12%
+15000 +15000 +10000 +60000 0.59% -0.18% -0.18% -0.18%
+20000 +15000 +10000 +61250 0.55% -0.17% -0.17% -0.17%
+20000 +20000 +15000 +63750 0.43% -0.12% -0.12% -0.12%

As expected, the Lightning (+688) and Avalanche (+388) have remained in contention throughout the season, as have the Las Vegas Golden Knights (+713). The Toronto Maple Leafs were considered one of the better teams when the season started but have since become legitimate contenders (+788).

The Carolina Hurricanes were more of a dark horse candidate (+2200) when the season began but have become legitimate contenders (+800).

Colorado, Tampa Bay, and Las Vegas have battled over the top spot with oddsmakers all season, with the Avalanche emerging as the favorite since late March/early April. Toronto and Carolina fans have seen their team’s odds steadily fall since the start of the season.

Other teams worth watching as the season progresses include:

Washington Capitals (+1275)

They began the season as a fringe contender with +1900 odds but have been consistently good throughout the season. Consequently, their odds are shorter. But since the contenders have played even better, they are still on the outside looking in.

Boston Bruins (+1350)

The Bruins were thought to be one of the better teams coming into the 2021 season (+1400). But they needed to have a few things go their way to join the elite teams and become a contender. After getting off to a hot start, their odds dropped as low as +800 in February, but they climbed above +1000 before March.

New York Islanders (+1400)

Like the Bruins, the Islanders were considered a team on the outside looking in when the season started (+2200). After making it to the conference finals last season, fans had high hopes coming into 2021. While their odds skyrocketed early on due to a slow start, the team has played well since late February. Hence, their odds dropping down to where they are.

Where Can I Bet On The NHL Stanley Cup Online

Fans looking to bet on the Stanley Cup can do so if located in one of the states where sports betting is legal. As for which sportsbooks they can use, every sportsbook will carry odds on the Stanley Cup.

When it comes to choosing a specific book, which one will depend on the books active in a customer’s state. Some sportsbooks are licensed in many states, while others are not. But which one should you choose?

Most will offer a welcome bonus in hopes of attracting new customers. If betting on the go interests you, whether they have a mobile app is significant, too.

BetRivers Sportsbook

Claim Bonus: Visit BetRivers Sportsbook and get a 100% deposit match bonus up to $250

William Hill

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  • States legal: Tennessee, Virginia, New Jersey, West Virginia, Colorado, Illinois, Indiana, Iowa, Michigan, and Nevada
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  • Mobile app: available for iOS and Android devices

BetMGM Sportsbook

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  • States legal: Michigan, Virginia, New Jersey, Nevada, West Virginia, Indiana, Tennessee, Colorado, Iowa, and Pennsylvania
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  • Mobile app: available for iOS and Android devices

FanDuel Sportsbook

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  • States legal in Illinois, Colorado, Virginia, New Jersey, Pennsylvania, West Virginia, Indiana, Iowa, Tennessee, and Michigan
  • Current bonus: risk-free bet, max value $1000
  • Mobile app: available for iOS and Android devices

DraftKings Sportsbook

Claim Bonus: Visit DraftKings Sportsbook and get a 20% match bonus up to $1000 + $50 free bet with $5 deposit

  • States legal: New Jersey, Virginia, New Hampshire, Iowa, West Virginia, Pennsylvania, Indiana, Colorado, Illinois, Tennessee, and Michigan
  • Current bonus: first deposit bonus, max value $1000
  • Mobile app: available for iOS and Android devices

How Stanley Cup Bettings Odds Are Calculated

Stanley Cup odds begin as a futures bet. They tend to open for the next season around the time the current season’s Stanley Cup gets underway. Prior to the start of the season, odds may change according to the players’ movements (free agency, trades, draft), coaching changes, and/or significant injuries.

During the season, they will often adjust according to how teams play, injuries, etc., and throughout the playoffs, as teams get eliminated.

When only two teams remain, odds on who will win the series will still be available. But the focus turns to prop bets related to the series and each game. Books will post a puck line (point spread), moneyline, and over/under just like they do for regular-season games for each game.

For example, the odds for Game 1 of the 2020 Stanley Cup Finals were as follows:

Game One– Stanley Cup Finals 2020   
Puck LineMoneylineTotal (over/under)
Tampa Bay Lightning-1.5 (+160)-1595 (-134/+110)
Dallas Stars+1.5 (-195)+1355 (-134/+110)

Since the game ended with the Stars winning, 4-1, fans betting $100 on the Dallas moneyline won $135. But if they had bet the puck line, it would have taken $195 to win $100. Had Tampa Bay won, it would have taken a wager of $159 to win $100.

If you want to do the math yourself to figure out how much you would win if you bet a different amount, you can. But it would be a lot easier to punch the numbers into an odds calculator online.

NHL Stanley Cup Odds And Betting

Fans can place a range of different bets on the Stanley Cup. As soon as the opening odds get posted, fans can make futures bets on who will win the Cup next season. Those odds will be posted throughout the offseason and into the regular season.

Fans can still make futures bets during the postseason, but the NHL odds will get shorter as the playoffs progress and teams get eliminated. Once the two teams participating in the Finals are set, books will start posting a wide range of prop bets for Game One and the series.

With each game of the series, fans will be able to bet on each game as they bet on games during the regular season and playoffs—the puck line, moneyline, and total. Odds will get posted for Game One after the two teams are decided and for each game in the series following the end of the game preceding it.

Fans will also be able to make parlay bets on each game of the series prior to that game.

What Is An NHL Futures Bet?

An “NHL futures bet” is a bet that fans can make on an event, series, or award that will occur or get awarded at some point in the future. For hockey fans, betting on the winner of the Stanley Cup is one of the most common.

Fans can make futures bets related to the Stanley Cup at any time prior to the conclusion of the conference finals.

What Is A Stanley Cup Prop Bet

Stanley Cup prop bets, or proposition bets, are bets regarding aspects of the game or series but not tied directly to the final score. Stanley Cup MVP is probably the most popular one, but fans can also bet on how long the series will last, who will score the first goal in each game, who wins each period of a game, etc.

Prior to the playoffs, fans last year could bet on which conference the winning team would come from or what country (the US or Canada). The possibilities for prop bets are limitless, but books do not post prop bets on things like the National Anthem or other things completely unrelated to the game.

How Can I Bet On The Stanley Cup In Vegas

If you are heading to Vegas but want to see what the odds are on the Stanley Cup in Sin City first, several websites (VegasInsider.com, VSIN.com, VegasOdds.com, Vegas.com, etc.) publish odds from Vegas sportsbooks.

As for where to place bets in Vegas, pick a casino, and you will be able to find a sportsbook willing to take your bet. Online betting is legal (and retail) if you do not want to visit a casino. But you will have to open an account in person at the sportsbook inside the casino first.

Strategies For Stanley Cup Betting

Much like it is important to approach betting in the regular season with a strategy, bettors should do the same when it comes to the Stanley Cup. You could be conservative and bet on the favorite, but a No. 1 seed has only won the Stanley Cup once in the last decade.

The winner is often one of the top four seeded teams, with the 2-seed the most successful in recent years. But every seed has made it to the Finals since 2002 at least once. Each has won at least once, except for the 7-seed.

So, if you cannot count on the top teams, what do you do?

  • Research: to make an informed decision, you need to know as much as possible about the two teams playing.
  • Zig-Zag Theory: When evenly matched teams face-off, it is not unusual for whoever loses Game One to bounce back and win Game Two. Then the loser of Game Two bounces back to win Game Three.
  • Fading the Public: This is not as prevalent in hockey as in other sports due to the volume of bets placed on the Stanley Cup.
  • Middling: It is not a common strategy for hockey games but involves making two bets on a game, one on each team with the second coming after the line moves.
  • Line Shopping: If you are going to bet on a game, you might as well do so with the book that will give you the highest payout. So, before you put money down with one book, check a few others to see if any has better odds.
  • Alternate Lines: If you are extremely confident in one team over another, alternate lines are a great way to increase your potential payout. However, you must be careful. Get too greedy, and you can lose a game you should have won.

Betting Odds For The Stanley Cup FAQs

Is betting on the Stanley Cup legal in the US?

Betting on the Stanley Cup is legal in states where sports betting has been legalized.

StateOnline Sports BettingRetail Sports Betting
New HampshireYesYes
New JerseyYesYes
New MexicoNoYes
New YorkComing SoonYes
North CarolinaNoYes
Rhode IslandYesYes
VirginiaYesComing Soon
Washington D.C.YesYes
West VirginiaYesYes
Where can I bet on the Stanley Cup online?

Fans can bet on the Stanley Cup at online sportsbooks licensed to operate in the state in which they are located. Among the top online sportsbooks available in many states are BetMGM, DraftKings, FanDuel, BetRivers, PointsBet, and William Hill.

How old do I need to be to bet on the Stanley Cup?

Bettors will need to be at least 18-21 years of age (depending on the age requirement in their state).

Do online sportsbooks offer live betting during the Stanley Cup?

Yes, live betting is available at online sportsbooks during the Stanley Cup Finals.

What kind of prop bets are there for the Stanley Cup?

For the Stanley Cup, fans can bet on various prop bets that are either team-based or player-based, involving an individual game or the series (who scores the first goal (team and player), winner of a particular period, etc.). 

Different series-related prop bets are available as well (i.e., number of games in the series, number of games that went to overtime, number of goals scored, etc.).

Can I bet on events happening off the field?

While it is popular to bet on things like the coin toss, length of the National Anthem, and the halftime show for the Super Bowl, off-field prop bets are not available for the Stanley Cup.

Who is the current Stanley Cup odds favorite for 2021?

As of April 20, DraftKings has the Colorado Avalanche listed as the favorites to win the Stanley Cup (+350), followed by the Tampa Bay Lightning (+600), and the Toronto Maple Leafs (+700).

When is the 2021 Stanley Cup?

The Stanley Cup Playoffs are scheduled to begin on May 11, with the Stanley Cup Finals wrapping up no later than July 15. The games will take place in the cities of the two participating teams.

About the Author

Travis Pulver

Travis Pulver is a lifelong football fan, something he says comes naturally having been born in the football-crazy state of Texas. Through the years, his love of sports has extended into baseball, basketball, golf, and rugby. Life currently finds him in Indiana with his wife and two kids.

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