Stanley Cup Odds: Avalanche, Panthers, Rangers and Oilers in Their Own Tier

The NHL's 2024 Stanley Cup Playoffs are into the second round.

With the first round in the books, we are officially down to eight teams competing to lift the Stanley Cup.

Who are the favorites to win it all?

Let's dive into the Stanley Cup odds via the NHL odds on FanDuel Sportsbook.

Stanley Cup Odds

Colorado Avalanche (+410)

Since our last update, which came right before the playoffs, the Colorado Avalanche's odds to win the Stanley Cup have increased shifted from +850 to +410. As of Thursday, May 9th, they are the favorites to win it all.

Colorado had a tricky opening-round opponent in the Winnipeg Jets. They lost a high-scoring Game 1 by a 7-6 score but quickly rebounded to win the next four and advance to the second round. They are currently up 1-0 in their series with the Dallas Stars after an epic come-from-behind overtime victory in Game 1 on Tuesday.

As expected, offense has been the key to Colorado's success. Their 5.33 goals per game leads all playoff teams -- a full goal above the next-closest team. Their 3.0 goals allowed per game is tied for 11th among playoff teams.

Colorado's special teams have been solid, as well. Their 44.4% power-play percentage ranks second, behind only the Edmonton Oilers' electric power play (47.6%). Their penalty kill sits at 76.5%, eighth-best.

Colorado still has a ways to go. They are listed at -192 odds to win their second-round series against Dallas, but the form they've shown so far has them positioned on top of the odds in this market as we approach the middle of the second round.

Florida Panthers (+430)

The Florida Panthers odds have improved from +700 to +430 since our last update, and they remain in second on the odds table.

Florida was impressive in their opening-round victory over the always dangerous Tampa Bay Lightning -- advancing in five games. That momentum was promptly halted in Game 1 of their second-round series against the Boston Bruins, which they lost, 5-1. They responded just as quickly, securing a much-needed 6-1 win in Game 2 to even the series.

The Panthers rank third in goals per game this postseason (3.86) and are tied for eighth in goals allowed per game (2.86). Their penalty kill has been decent (84%, sixth-best), but their power play has struggled so far. Florida has scored on 18.2% of their short-handed chances, second-worst among remaining teams.

Part of that is a difficult matchup against a Bruins defense that has been lights out (93.3% penalty kill). The good news for Florida is that even with limited goals on special teams, they are still scoring at the third-highest rate in the postseason. If their power play starts clicking, the sky is the limit.

First, they need to close out Boston. They are listed at -188 odds to win that series.

New York Rangers (+450)

The New York Rangers' odds improved from +800 to +450, and they moved into solo third on the odds table. The Rangers have the unique distinction of being the only undefeated team left in the postseason. They swept the Washington Capitals in the first round and are currently up 2-0 on the Carolina Hurricanes.

Their two wins over the 'Canes have been by the smallest or margins -- Game 2 required double-overtime -- but overall, New York has been excellent on both ends of the ice. They rank second in goals allowed per game (2.17) this postseason and fourth in goals per game (3.83). That excellence extends to their specials teams as they sit third in power-play percentage (40.0%) and third in penalty kill (92.6%).

So far, so good for the Rangers.

Game 3 -- which Carolina is favored to win (-170), according to the NHL odds on FanDuel Sportsbook -- looms large. The Hurricanes remain an extremely dangerous team, and letting them back in this series could change New York's outlook in a hurry.

That said, the Rangers have the best odds to win their series of any of the remaining playoff teams (-285) and are the current favorites to win the Eastern Conference (+165), per the NHL Eastern Conference odds at FanDuel Sportsbook.

Edmonton Oilers (+500)

Despite their shocking collapse in Game 1 against the Vancouver Canucks ion Wednesday, the Oilers' odds are closer to the trio of favorites in front of them than the four teams behind them.

In the first round, the Oilers dismissed the Los Angeles Kings in five games, and their success continues to come from their offense. They rank second in goals per game (4.33) and are tied for 11th in goals allowed per game (3.0). They are also the best special teams side in the postseason -- ranking first in both power-play percentage (47.6%) and penalty kill (100%).

Despite being down after Game 1, Edmonton remains favored (-137) to win their series against Vancouver, and they have the second-best odds to win the Western Conference (+210).

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The above author is a FanDuel employee and is not eligible to compete in public daily fantasy contests or place sports betting wagers on FanDuel. The advice provided by the author does not necessarily represent the views of FanDuel. Taking the author's advice will not guarantee a successful outcome. You should use your own judgment when participating in daily fantasy contests or placing sports wagers.