2023 Stanley Cup Odds – Betting Picks and Favorites


The NHL has seen multiple repeat champions in recent history, and there’s a strong chance that another one will be added to the list. Shortly after winning the 2022 Stanley Cup Finals, the Colorado Avalanche are significant favorites with the best odds to win the 2023 Stanley Cup.

The Avalanche enter the offseason with +450 odds at BetMGM (18.18% implied probability) for the 2023 Stanley Cup. Colorado finished off the back-to-back champion Tampa Bay Lightning in six games in the 2022 Stanley Cup Finals. The Avalanche had a dominant postseason run, completing two series sweeps and never facing elimination.

Colorado could become the third team in seven seasons to win consecutive Stanley Cups. Before Tampa Bay did it in 2020 and 2021, Sidney Crosby and the Pittsburgh Penguins won the Stanley Cup Finals in 2016 and 2017.


The Toronto Maple Leafs are a somewhat distant second with +850 odds to win the Stanley Cup next year. The Maple Leafs were eliminated at home in Game 7 of their first-round series. Hart Trophy winner Auston Matthews will try to help Toronto end a 55-year championship drought. 

Tampa Bay defeated Toronto on the way toward reaching the Stanley Cup Finals. The Lightning have +900 odds to win their third Stanley Cup in four years and establish a dynasty.

The Florida Panthers have +1000 Stanley Cup odds after leading the NHL in regular-season points, only to be swept by Tampa Bay in the second round. The Carolina Hurricanes are next with +1200 odds. The Vegas Golden Knights are viewed as the biggest threat to the Avalanche in the Western Conference at +1400. 

Let’s take a look at the 2023 Stanley Cup odds and which teams have the best chance to win next year’s championship.

Who Will Win the 2023 Stanley Cup?

Here are the odds to win the Stanley Cup in 2023, per BetMGM.

Team Odds
Colorado Avalanche +450
Toronto Maple Leafs +850
Tampa Bay Lightning +900
Florida Panthers +1000
Carolina Hurricanes +1200
Vegas Golden Knights +1400
Edmonton Oilers +1600
Calgary Flames +1800
Minnesota Wild +1800
New York Rangers +2000
Pittsburgh Penguins +2000
St. Louis Blues +2200
Boston Bruins +2500
New York Islanders +3000
Washington Capitals +3500
Dallas Stars +4000
Los Angeles Kings +4000
Detroit Red Wings +5000
Nashville Predators +5000
Vancouver Canucks +5000
Buffalo Sabres +6600
Philadelphia Flyers +6600
Winnipeg Jets +6600
Anaheim Ducks +8000
New Jersey Devils +8000
Ottawa Senators +8000
Chicago Blackhawks +10000
Columbus Blue Jackets +10000
San Jose Sharks +10000
Seattle Kraken +12500
Montreal Canadiens +15000
Arizona Coyotes +50000

Why Are The Colorado Avalanche Favored For Odds To Win The Stanley Cup?

Coming off an impressive Stanley Cup title run, the Avalanche are the only reasonable choice to be the NHL favorites for next season. Colorado started the season as the Stanley Cup favorites and earned the No. 1 seed in the Western Conference. The Avalanche went 16-4 in the 2022 Stanley Cup Playoffs and never trailed in any series.

Colorado’s best players are still in their prime and set to return to defend their championship. Norris Trophy and Conn Smythe Trophy winner Cale Makar is only 23 years old. After leading the champs with 29 points in the postseason, the defenseman might only be getting better. Top playoff goal-scorer Nathan MacKinnon is 26 years old and under contract for another year. Mikko Rantanen is signed for three more seasons. Rantanen scored more points in the playoffs than MacKinnon and is a year younger than Colorado’s star center.

It’s possible that a few key members of the championship roster could leave in free agency. Center Nazem Kadri is unsigned, along with goaltender Darcy Kuemper. The Avalanche’s depth should help them withstand some roster changes to put together a competitive title defense. 


Can the Lightning Make Another Run to the Stanley Cup Finals?

Tampa Bay was unable to successfully complete a three-peat, but the Lightning still made history in the 2022 playoffs. The Lightning became the first team since the 1985 Edmonton Oilers to make three straight Stanley Cup Finals appearances. Tampa Bay needed to win a Game 7 in the first round and overcome a 2-0 Eastern Conference Finals deficit, so it won’t be an easy run to replicate. 

It might feel like Steven Stamkos has been around forever, but the 32-year-old still has plenty of good hockey left in him. Stamkos was a top-10 goal scorer and recorded a career-high 106 points in the 2022 season. Star center Brayden Point is under contract until 2030. Nikita Kucherov will also be back. Andrei Vasilevskiy is the best big-game goalie in the sport.

The Lightning’s salary-cap situation will likely prevent the team from re-signing both Ondrej Palat and Nick Paul. Palat tied Stamkos with a team-high 11 goals in the playoffs and finished second with 21 points. Paul was a key addition at the trade deadline. Losing any depth will make it more difficult for the Lightning to repeat as champions in a top-heavy conference.

Can the Rangers Win the Stanley Cup?

New York came just shy of completing an improbable run to the 2022 Stanley Cup Finals. The Rangers seemed well on their way to winning the Eastern Conference Finals when they took a 2-0 series lead over the Lightning. The Rangers blew a one-goal lead in the third period of Game 3, and the Blue Shirts didn’t win another game in the series.

With Igor Shesterkin back in net, the Rangers can’t be counted out as a potential Stanley Cup winner. The Vezina Trophy winner had a 2.07 goals against average and a .935 save percentage, both of which ranked first in the NHL. Shesterkin did all he could to help New York avoid elimination, stopping at least 92% of the shots sent his way in 12 of the last 14 games. The Rangers need to get better offensively after ranking 16th in goals per game. 

New York’s run to the conference finals was aided by acquiring four players at the trade deadline, all of whom are headed into free agency and face uncertain futures with the Rangers. New York became just the fourth team in NHL history to overcome a multi-game deficit in two different series during the same postseason. The Rangers’ +2000 Stanley Cup odds tied for fifth best in the East.


Understanding Stanley Cup Odds

If you don’t know how to make a bet on 2023 Stanley Cup odds, FTNBets has you covered. Once you’ve set up an account with a sportsbook that’s available in your state and deposited money, you can bet on a team to win the Stanley Cup.

Go to the futures section of the NHL betting page, and the odds should look something like this:

  • Colorado Avalanche +450
  • Toronto Maple Leafs +850
  • Tampa Bay Lightning +900
  • Florida Panthers +1000
  • Carolina Hurricanes +1200

The numbers next to the plus sign are the odds for each team to win the Stanley Cup, and they represent the payout for a correct $100 bet. The team with the lowest number is the betting favorite. In this example, the Avalanche are favored at +175.

If you bet $100 on Colorado, you would earn a $175 profit by the Avalanche winning the championship. Your sportsbook account should be credited $275 in total after the Stanley Cup Finals. A winning $200 bet on +175 odds would result in a $350 payout.

Check out the FTN Bets Parlay Calculator to see how much you’d win based on the odds and amount wagered.

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