The 25 NHL Playoffs are in full swing, and the Stanley Cup odds have shifted dramatically in only a couple days of action. Nathan MacKinnon, Cale Makar and the Colorado Avalanche looked outstanding in their 5-1 win over the Dallas Stars in their Game 1 matchup, and are now the betting favorites to win the Stanley Cup. Likewise, the Toronto Maple Leafs looked like a force to be reckoned with in the Eastern Conference in their 6-2 Game 1 win over the Ottawa Senators. As the 2025 NHL Playoffs roll on, the odds to win the Stanley Cup have been updated for each of the 16 remaining NHL teams at BetMGM.
SportsLine expert handicapper Jimmie Kaylor has broken down the latest betting trends and NHL futures odds from BetMGM and locked in his top picks to win the Stanley Cup, Eastern and Western Conferences, and the Conn Smyth Trophy.
In the 4 Nations Face-Off Final, Kaylor picked Nathan MacKinnon to be the first goal scorer and for the game to finish under 5.5 goals. The result: MacKinnon notched the game’s first goal for a 13-1 payout, and the game finished with a final score of 3-2 in Canada’s favor.
Recently, Kaylor also nailed a five-leg same-game parlay in the Avalanche vs. Red Wings game for a payout of almost 7-1, and on the final night of the regular season, Kaylor gave away a five-leg NHL parlay that hit for a payout of almost 13-1.
Kaylor has had a chance to break down the latest NHL odds from BetMGM and has locked in his top futures bet for the Stanley Cup and NHL player awards. You can get picks for every NHL playoff game from NHL experts, including Kaylor, and from a proven computer simulation model at SportsLine.
2025 NHL Stanley Cup odds (Updated 4/21 at BetMGM)
| Current Odds | Opening Odds | |
| New Jersey Devils | +9000 | +1300 |
| Ottawa Senators | +8000 | +4000 |
| Minnesota Wild | +8000 | +4000 |
| St. Louis Blues | +6600 | +4500 |
| Montreal Canadiens | +6600 | +15000 |
| Dallas Stars | +2200 | +1000 |
| Los Angeles Kings | +1800 | +2200 |
| Washington Capitals | +1100 | +10000 |
| Tampa Bay Lightning | +1100 | +2000 |
| Edmonton Oilers | +900 | +1000 |
| Florida Panthers | +850 | +900 |
| Winnipeg Jets | +800 | +2200 |
| Vegas Golden Knights | +800 | +1200 |
| Toronto Maple Leafs | +750 | +1600 |
| Carolina Hurricanes | +600 | +1100 |
| Colorado Avalanche | +500 | +1000 |
Highest Ticket %:
- Avalanche 10.6%
- Knights 8.7%
- Maple Leafs 8.4%
Highest Handle %:
- Avalanche 11.0%
- Maple Leafs 8.4%
- Golden Knights 7.9%
Biggest Liabilities:
- Blues
- Canadiens
- Red Wings
According to Matthew Rasp, who is a Senior Trader for BetMGM, two longshots — the Blues and Canadiens are the sportsbook’s biggest liabilities right now. “The Panthers and Lightning are among the favorites to win the Stanley Cup but the public is ignoring them. BetMGM really wants the Stanley Cup to stay in Florida. The Blues and Canadiens are our biggest liabilities to win it all,” Rasp said.
With one game in the books for several of the playoff series around the league, the 2025 Stanley Cup odds have shifted dramatically. The Stars went from one of the top favorites to a +2200 longshot. The Avalanche are now the favorites to win it all, and the Maple Leafs have jumped the Panthers in the Eastern Conference.
Colorado is still my pick to win the Stanley Cup, but I really like what I saw from Toronto in Game 1 of its series.
Best Bet: Colorado Avalanche +750 (placed April 17)
Sleeper: Maple Leafs +1200 (place April 17)
2025 NHL Playoff odds to win the Eastern Conference (Updated 4/21 at BetMGM)
| Current Odds | Opening Odds | |
| New Jersey Devils | +3500 | +625 |
| Montreal Canadiens | +3000 | +10000 |
| Ottawa Senators | +2800 | +2000 |
| Washington Capitals | +500 | +9000 |
| Tampa Bay Lightning | +450 | +1000 |
| Toronto Maple Leafs | +400 | +800 |
| Florida Panthers | +400 | +500 |
| Carolina Hurricanes | +240 | +525 |
- Favorite: Panthers +240
- Highest Ticket Percentage: Capitals 16.5%
- Highest Handle Percentage: Hurricanes 37.6%
- Biggest Liability: Red Wings
I don’t love the value here for the Hurricanes (+350) nor the Panthers (+340). Nonetheless, Florida is my pick in the Eastern Conference. My sleeper pick here would be the Toronto Maple Leafs.
Best Bet: Panthers (+340)
Sleeper: Maple Leafs (+575)
2025 NHL Playoff odds to win the Western Conference (Updated 4/21 at BetMGM)
| Current Odds | Opening Odds | |
| St. Louis Blues | +3000 | +2200 |
| Minnesota Wild | +3000 | +1600 |
| Dallas Stars | +1100 | +500 |
| Los Angeles Kings | +850 | +1000 |
| Edmonton Oilers | +500 | +500 |
| Vegas Golden Knights | +375 | +650 |
| Winnipeg Jets | +360 | +1000 |
| Colorado Avalanche | +250 | +500 |
- Favorite: Avalanche +250
- Highest Ticket Percentage: Avalanche 16.9%
- Highest Handle Percentage: Jets 37.9%
- Biggest Liability: Blues
The Stars and Avalanche square off in a first round matchup that features arguably the two best teams in the Western Conference right now. The winner will instantly become the favorite to win the 2025 Stanley Cup. Colorado is my pick in that series, with the Stars dealing with a couple of significant injuries. Vegas has the look of a potential sleeper.
Best Bet: Avalanche (+380)
Sleeper: Vegas Golden Knights (+450)
2025 NHL odds to win the Conn Smythe Trophy (Updated 4/21 at BetMGM)
| Current Odds | |
| Jack Eichel | +1700 |
| Cale Makar | +1600 |
| Connor McDavid | +1500 |
| Connor Hellebuyck | +1300 |
| Nathan MacKinnon | +800 |
History would suggest that this award will go to the top player on the Stanley Cup-winning team. Last year, McDavid became only the sixth player ever to win the Conn Smythe while playing for a team that did not win the Stanley Cup. This year I expect the Smythe winner to also be a Stanley Cup champion — and my early prediction is that the eventual Stanley Cup champion will be the team that wins the Stars-Avalanche series.
The last time Colorado won the Stanley Cup, Makar took home the Conn Smythe. Nathan MacKinnon at 14-1 is enticing, but Makar at 22-1, the value is too good to pass up.
As for potential sleepers, Valeri Nichuskin has the potential to play a pivotal role for Colorado if the team can go on a deep run. His odds opened at 300-1, but have been bet down to 150-1.
Best Bet: Makar +2200 (Placed April 17)
Sleeper: Valeri Nichushkin (+15000)
Most likely Stanley Cup Final matchups (at BetMGM)
| Current Odds | |
| Hurricanes vs. Avalanche | +1600 |
| Hurricanes vs. Stars | +1600 |
| Panthers vs. Avalanche | +1600 |
| Panthers vs. Stars | +1600 |
The oddsmakers at BetMGM have established these four teams as the clear top contenders in each conference. As previously mentioned, I expect Colorado to win its first round series over the Stars and ultimately win the Western Conference championship. I also expect the Panthers to prevail in the Eastern Conference for the second straight year.
Best bet: Avalanche vs. Panthers (+1600)
Looking for more NHL Playoff picks?
SportsLine expert Matt Severance is on a 119-62 roll (+2440) on NHL picks. Visit SportsLine now to get all of his NHL picks.
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