Odds to Win the 2023-24 NHL Stanley Cup

The 2022-23 NHL season was historic in a variety of ways. The Boston Bruins set the new bar for single-season points scoring (135) that was previously held by the revered 1976-77 Montreal Canadiens and won 65 games to set another record that was shared by the Tampa Bay Lightning in 2018-19 and the Detroit Red Wings from 1995-96.

Edmonton’s Connor McDavid improved on his career's historic trajectory by becoming the sixth player ever to score 150+ points in a season and the first to accomplish that since Mario Lemieux in 1995-96. McDavid led the league in goals, assists, and points to sweep the postseason awards and take home the Richard (most goals), Ross (most points), Hart (MVP), and Lindsay (NHLPA Best Player) trophies in dazzling fashion.

Finally, the Vegas Golden Knights secured their first Stanley Cup with a 4-1 series win over the Florida Panthers. Vegas outscored Florida by 14 goals in the Stanley Cup Final, capping off the victory with a 9-3 rout on home ice. The Golden Knights cashed in on +1800 preseason odds, and the sportsbooks felt it. According to a recent Covers piece, Nevada outlets lost $6.6 million when the hometown team hoisted the Cup in June.

The 2023-24 NHL season begins on October 10, with the reigning champions hosting Seattle after raising their first banner and trying on their new jewelry in front of an assuredly raucous crowd. We’ve taken some time to look ahead to the upcoming season and provide some insights on Stanley Cup futures with some time remaining to place your season-long wagers.

Think your favorite NHL team has a shot to bring home the game's most coveted piece of hardware? Check out each team's odds to win the 2023-24 Stanley Cup below. As you can see from the following list, 2 teams really stand out as the favorites.

Can any team sneak past New Jersey, Colorado, or Carolina? Here are the current Stanley Cup odds from our friends over at FanDuel Sportsbook. These were last updated on August 1, 2023.

Recapping the 2022-23 Stanley Cup

Vegas’ 2023 victory was significant for betting markets because the Golden Knights had the second-longest preseason odds of any champion over the last decade. Only St. Louis in 2019 was a more prominent outlier when they toppled the Bruins as +3000 underdogs to begin the season.

If you remove those two teams from the sample, the average champion in the remaining eight seasons since 2013 had preseason odds of around +950.

The Colorado Avalanche in 2022 were the third preseason favorite in the last ten seasons to hoist the Cup, joining the 2019-20 Tampa Bay Lightning and 2014-15 Chicago Blackhawks.

That champion Avs team had the shortest number of any winning team during this window, offering preseason bettors just +625 odds before the first puck drop of their title campaign.

Only once in the last decade have both teams made the Stanley Cup Final after beginning the season with odds shorter than +1000 (2022), and only one team with odds longer than +4000 made an appearance.

In the Golden Knights’ inaugural 2017-18 season, they advanced to the Final as +20000 preseason longshots before falling in five games to the Washington Capitals.

If we remove the teams with the highest and lowest odds that finished runner-up over the last decade, the #2 team’s preseason odds averaged close to +1950.

Favorites to Lift the Cup in 2023-24

According to FanDuel Sportsbook, Colorado and Carolina are the co-favorites at +900. Three teams lay in wait just behind that duo at +1100, comprised of Edmonton, New Jersey, and Toronto.

The Avs fell in the first round to Seattle a season after winning their third Stanley Cup, dropping Game 7 at home in late April. Carolina advanced to their second Conference Finals in five seasons before getting swept out by Florida. Notably, the Hurricanes lost each game in that series by a single goal.

All three teams in the +1100 group advanced to the second round of the 2023 playoffs before being eliminated. Edmonton lost to Vegas in six games, while New Jersey and Toronto were knocked out in five by Carolina and Florida, respectively.

Recent champions Vegas and Tampa Bay are behind that trio and still within the top seven teams. The Golden Knights will attempt to join the Lightning and Penguins as the teams to successfully defend a title in the last 10 seasons and would be the team with the longest odds who accomplished that feat in this timeframe.

The Dallas Stars reached their second Conference Finals since 2020 last season and arguably gave the Golden Knights their most formidable challenge of the playoffs. Vegas snatched two overtime victories of the three games that required extra time, and Dallas should be considered a difficult out again in 2023-24.

Other notable teams in the top half are the Boston Bruins and Florida Panthers. The Bruins will need to replace captain Patrice Bergeron following his retirement this offseason and try to put 2023’s playoff disappointment behind them. For the Panthers, they’d love to build off an incredible run that saw them eliminate the top three teams in the East just a few months ago.

Will There Be a Longshot That Makes a Run This Season?

If bettors are going to tie their money up in season-long wagers, it’s nice to have some that could skyrocket in value if a team overachieves relative to expectations. Teams like the 2020-21 Canadiens (+2800) and 2015-16 Sharks (+3700) that ended up losing the Cup Final can still be incredibly lucrative opportunities for arbitrage as they advance deeper into the playoff chase.

Florida could fall into this category, and their odds align with the average runner-up over the last decade at +2000. The Panthers grinded just to make the playoffs last year while preaching that their difference in style from the 2021-22 President’s Trophy performance would pay dividends in the postseason. Safe to say they backed that up, and they’ll now have a target on their backs again this year.

Seattle was +15000 entering last season and nearly made the Conference Finals before dropping Game 7 to Dallas. The Kraken beat expectations like Vegas did early in their existence and showed that expansion teams should not be overlooked. At +5000 in the current preseason odds, their improvement has been noted, and they could be worth a small wager.

Best Bets for 2023-24 Stanley Cup

After carefully diving into all of the metrics, we've settled on 2 futures bets for the 2023-24 Stanley Cup. Both of these teams are at medium odds and we like both of them to make a deep playoff run in 2024.

Dallas Stars +1800

According to Hockey Reference’s Simple Rating System (SRS), the Stars had the fourth-best season in franchise history last year and have the fourth-best odds in the Western Conference to lift the Cup in 2024.

They matched up the best with Vegas of any team in last year’s postseason, and we like them to remain competitive deep into the playoffs again this year.

Florida Panthers +2800

Florida finally got the elite goaltending from Sergei Bobrovsky that they’d been waiting for when they signed him to a $70 million contract in 2019.

It buoyed the team until the Stanley Cup Final, but the Panthers proved they have the defensive prowess and scoring ability to compete with any team when the stakes are highest.

If Bob can match that performance in the 2024 playoffs, Florida could easily make back-to-back appearances in the Final.

Past Stanley Cup Winners and FAQ

Ready to brush up on your hockey history? The following table shows a list of all Stanley Cup Winners from 2000 to 2022. After that, we'll dive into some frequently asked questions about the NHL and the Stanley Cup.

Have a hockey question that you'd like to see answered in this section? Reach out to us at [email protected] or find us on Twitter @EatWatchBet.