The NHL hockey season is over. Long live the NHL hockey season! It’s never too early to look a year down the road and begin to forecast which team will next hoist the Stanley Cup.
At this early stage, the oddsmakers at BetMGM see a “third time’s the charm” storyline unfolding for Edmonton. After two straight defeats in the Stanley Cup Final, the Oilers (+650) are the early favourites to win the 2025-26 championship. Are the oddsmakers assuming an upgrade in net for Edmonton? You’d have to think they are. If the Oilers don’t acquire a new netminder, their odds — and the blood pressure of every hockey pundit on earth — are likely to soar.
Like the Oilers, the other teams seen as plausibly vying for 2025-26 glory have a track record of contending — or, in the case of the Florida Panthers (+750), of winning it all. As the off-season begins, Colorado is the third choice at +800, followed by Dallas (+850) and Carolina (+900). All proven teams. All legit contenders.
The second-ranked Canadian team may be predictable enough (it’s the Maple Leafs), but there may be some surprise in where they’re found on the list of likely champions.
At +2000 on BetMGM, Toronto has only the 10th-best odds to triumph next season. At this point, the rising doubt about the Leafs makes sense. It’s like the old saying goes: Fool us once, shame on you. Fool us year after year after year and we’re going to put you behind New Jersey (+1800) in the betting odds.
That said, the Leafs are getting a tad more respect than the Winnipeg Jets, a team that won the Presidents’ Trophy in 2024-25 but stands 11th in 2025-26 Stanley Cup odds at +2200. Call it the Connor Hellebuyck Syndrome — Winnipeg is simply seen by bettors as a team that thrives all winter but fades in the spring.
Ottawa (+3300) is next among Canadian squads — a middle-of-the-pack ranking for a middle-of-the-road team. Is that too harsh? To be fair, the Senators did finally make it back to the Stanley Cup Playoffs in 2024-25 after an extended absence. But they also exited rather meekly against a Toronto team that couldn’t hang with the big boys. Ottawa is perhaps another year away from real contention.
But take heart, Sens fans! At least you’re not rooting for one of the remaining Canadian teams:
- Vancouver +5000 (18th of 32 teams)
- Montreal +8000 (21st of 32 teams)
- Calgary +9000 (22nd of 32 teams)
One-word analysis of the above numbers: Oof!
Who is least likely to raise the Cup next season, according to BetMGM? Both Chicago and San Jose are listed at +50000, which means they are each seen as having a one-in-500 chance.
Hard to argue, frankly. Connor Bedard, the Blackhawks’ No. 1 overall pick in the 2023 NHL Draft, was a minus-36 on the year and scored only 23 goals in 82 games. Meanwhile, the Sharks had the fewest wins in the league this past year. They scored the fewest goals and had the worst goal differential. And they lost 11 straight games to end the season. On the bright side, S.J. Sharkie was recently inducted into the Mascot Hall of Fame. So, they’ve got that going for them.
Looking for a longshot with a plausible path to the Cup? The New York Rangers (+3000) will enter next season with offensive talent, an elite goalie and a new coach. The Rangers’ dressing room had more drama this past season than a Broadway stage. A more harmonious environment could contribute to a season of Cup contention.
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