The start of the second round has upended NHL playoff odds in a major way, but the betting action is still on the side of the late-season favorite Carolina Hurricanes.
The Edmonton Oilers and Colorado Avalanche are both tied as top favorites to win the Stanley Cup. This is a significant shift, dropping Carolina almost to the bottom of the odds board following close losses on the road in the first two games of the team’s series with the New York Rangers.
Still, the Hurricanes remain one of the most-bet teams in NHL playoff odds. The team’s home state of North Carolina is the most recent state to launch online sports betting, with multiple online sportsbooks going live in the state late in the NHL season.
Top-3 ticketed BetMGM teams in legal betting states
The Hurricanes became a steady favorite in Stanley Cup odds shortly after the team made some aggressive moves at the trade deadline. Carolina’s position atop the odds board held steady until Sunday’s loss on the road against the Rangers. With that 4-3 defeat in Game 1, the Hurricanes fell out of the top three Stanley Cup favorites, allowing the Oilers to move into the top spot ahead of the start of their series against the Vancouver Canucks this week.
According to data from BetMGM Sportsbook, the Hurricanes still account for the highest ticket percentage in Stanley Cup futures with 11.1% of all tickets. The Rangers are close behind at 10.9%, with the Avalanche at 10.6%. After winning the Presidents’ Trophy, the Rangers also account for the highest percentage of total BetMGM handle in Stanley Cup betting, at 16.2%.
Those three most-ticketed teams also share another factor in common: They play in states where online sportsbooks are legal, and BetMGM is one of the books available in each state. Hurricanes fans in North Carolina are the latest fan base with access to legal online sports betting after the March launch of online betting in the state, and smaller bets from a large number of new bettors follow that expected pattern. North Carolina Gov. Roy Cooper placed the state’s first online sports bet, a wager on the Hurricanes to win the 2024 Stanley Cup.
The Hurricanes also account for both the highest ticket percentage and highest handle percentage in Eastern Conference odds, though the Rangers have now taken over as the top favorite to win the conference.
Western Conference odds have the Oilers as favorites to win, but the top choice among bettors on BetMGM has been the Avalanche. Colorado accounts for the highest percentages of both tickets and handle in Western Conference betting so far.
For those looking at how to bet on the NHL, particularly in North Carolina, here are the current Stanley Cup playoff odds for each remaining team:
| Team | To Win Current Series | To Win Conference | To Win Stanley Cup |
|---|---|---|---|
| Edmonton Oilers | -275 | ||
| Colorado Avalanche | -210 | ||
| New York Rangers | -300 | ||
| Florida Panthers | +105 | ||
| Boston Bruins | -125 | ||
| Dallas Stars | +170 | ||
| Carolina Hurricanes | +250 | ||
| Vancouver Canucks | +220 |
Biggest Stanley Cup odds movements
Overall, the Canucks have seen the biggest odds shift since Stanley Cup odds came out prior to the season. Vancouver opened at +5000 to win it all but went on to win the Pacific Division and currently sits at +1800 in Stanley Cup futures odds. The Stars have also seen a big shift, moving from +1600 at the opening to +500 now.
The team with the least movement is the Avalanche, a team that opened as the early favorite to win the Stanley Cup at +800. That put Colorado just ahead of the Oilers at +900. Colorado’s odds slipped some with struggles in the final weeks of the season but have stayed relatively stable in the playoffs, moving from +800 in Round 1 to +600 in Round 2.
Edmonton, meanwhile, has moved all the way to +425 in that time for the NHL playoff odds.
