The Florida Panthers became the seventh team in the past 40 years to win back-to-back Stanley Cups when they finished off the Edmonton Oilers for the second straight season Tuesday.
Sportsbooks are split on the favorites to win the 2026 NHL title. The Panthers are the favorites at Circa Sports, Caesars Sportsbook and STN Sports to become the first team to three-peat as Stanley Cup champions since the New York Islanders won four straight from 1980-83.
The Oilers are the favorites at the Westgate SuperBook and BetMGM and the 8-1 co-favorites with the Panthers at the South Point.
Florida, which has reached the Stanley Cup Final three years in a row, is the +750 favorite at Circa.
“There is going to be some cap casualty. It kind of looks like (Conn Smythe Trophy winner Sam) Bennett’s going to be somewhere else. But even if you assume (Brad) Marchand’s going to be somewhere else, it’s still a really, really good team,” Circa sportsbook manager Jeff Davis said. “You’d have to assume, barring some crazy movement in the offseason, that they’re going to be the highest power-rated team in the Eastern Conference.
“Until proven otherwise, they’re a deserving favorite.”
The Oilers are the clear 7-1 favorites at the Westgate.
“They’ve just got so much firepower with (Connor) McDavid and (Leon) Draisaitl,” Westgate vice president of race and sports John Murray said. “There’s no reason to think they won’t be right back in the mix as one of the best teams in the league next season.
“We had a big liability on them this season, and we do expect to have a lot of money come in on them next season.”
Florida for sale
The Westgate has the best price on the Panthers, who are tied with the Golden Knights, Colorado Avalanche, Carolina Hurricanes and Dallas Stars as the 10-1 second choice.
“The Panthers are getting the most money, by far,” Murray said. “It’s a lot to ask anybody to get back to a Stanley Cup Final four years in a row. Eventually the wear and tear of those playoff runs adds up.”
The Oilers are tied with the Avalanche as the 8-1 second choice at Circa.
“Most of the roster’s going to be back,” Davis said. “They kind of fall into the same bracket as Florida. Until somebody proves otherwise, they’re right there with the Avs as the best team in the West, and frankly, I think after free agency’s over, there’s a reasonable chance the Golden Knights are in the conversation.”
Knight moves
Davis said the landing spot of Toronto Maple Leafs right wing Mitch Marner, the top free agent on the market, will have a big impact on the title odds.
“I would expect the Knights to be in on Marner pretty heavily,” he said. “If they end up with him, they’d be right there.”
The Knights are tied for the 9-1 fourth choice at Circa with the Carolina Hurricanes. Caesars and MGM have the best odds on the Knights at 12-1.
“We’re buried to Vegas every year as the playoffs roll around, but we’re writing them at numbers that may not be advantageous for the customer,” Davis said. “But the recreational person wants to bet the Knights to win the Stanley Cup … without thinking that if they just waited and rolled over the series prices in a parlay come playoff time, they would make more.”
Davis said the amount of money Las Vegas sportsbooks lost when the Knights won the Stanley Cup in 2023 was offset by the brisk business the casinos do on all of their game nights.
“It makes the loss a little more palatable when they get there because the book is jam-packed every night of the playoffs for Golden Knights games,” he said. “So there’s a little bit of a tradeoff there.”
The Stars are 12-1 at Circa, followed by the Tampa Bay Lightning at 14-1, the Los Angeles Kings at 15-1 and the Maple Leafs at 20-1.
Contact reporter Todd Dewey at tdewey@reviewjournal.com. Follow @tdewey33 on X.
2026 Stanley Cup odds
At Circa Sports
Panthers +750
Avalanche 8-1
Oilers 8-1
Golden Knights 9-1
Hurricanes 9-1
Stars 12-1
Lightning 14-1
Kings 15-1
Maple Leafs 20-1
Jets 22-1
Rangers 23-1
Devils 25-1
Wild 25-1
Capitals 32-1
Mammoth 34-1
Senators 35-1
Blues 40-1
Flyers 45-1
Blue Jackets 50-1
Canucks 50-1
Predators 50-1
Islanders 62-1
Canadiens 70-1
Ducks 70-1
Red Wings 75-1
Flames 80-1
Bruins 90-1
Kraken 150-1
Sabres 150-1
Penguins 200-1
Blackhawks 500-1
Sharks 500-1
