NHL playoffs betting: Stanley Cup, 1st-round series odds

The 2025 Stanley Cup Playoffs begin Saturday, although the schedule hasn't been released yet.

Seven of the eight first-round series are locked, while the Capitals wait to find out if they'll face the Canadiens or the Blue Jackets.

The Battle of Ontario headlines the opening-round matchups, as the Maple Leafs and Senators meet for the first time since 2004. The Leafs secured their first division title in a non-COVID campaign since the 1999-2000 season, setting up a clash with their provincial rival.

Let's look at Stanley Cup odds before getting into the matchups.

Team Cup Odds Conf. Odds Hurricanes +700 +360 Panthers +700 +300 Avalanche +750 +425 Stars +750 +375 Golden Knights +800 +375 Oilers +900 +550 Lightning +1000 +425 Capitals +1000 +400 Jets +1100 +450 Maple Leafs +1200 +550 Kings +2000 +1000 Senators +4000 +1600 Blues +4000 +1800 Wild +5000 +2000 Devils +5000 +1600 Canadiens +10000 +4000 Blue Jackets +25000 +10000

The Hurricanes and Panthers are co-favorites to hoist Lord Stanley's Cup, with the Avalanche and Stars trailing closely behind, but one of those Western Conference powerhouses will head home early because they meet in the first round.

Despite earning the top seed in the Eastern Conference, the Capitals are +1000 and the third favorite to represent the East in the finals. The other division winners, the Leafs, are also down the board at +1200. Oddsmakers consider the Hurricanes and Panthers the class of the East, even though they're fourth and fifth in the conference standings, respectively.

Eastern Conference

Maple Leafs (-175) vs. Senators (+140)

The Leafs are decent-sized favorites to oust the Sens in the first round with -175 odds implying a probability of 63.6%. Toronto has advanced to the second round of the playoffs once since 2004. The Senators swept the season series 3-0.

Panthers (-120) vs. Lightning (+100)

It's a battle of Florida with the reigning Stanley Cup champs taking on the Lightning. Tampa Bay has home-ice advantage, but the Panthers are still slight favorites. This should be a tightly contested series, and the odds reflect that. The series going at least six games is -190 (65.5% implied probability) and +200 (33.3% implied probability) to go to a seventh game.

Hurricanes (-300) vs. Devils (+240)

The Hurricanes are the heaviest favorite of all the first-round matchups at -300 (75% implied probability) to move past the Devils. According to oddsmakers, Carolina is one of the best teams in the East, while New Jersey is one of the worst. They split the season series 2-2, but the Devils are without their best player, Jack Hughes, for the postseason.

Capitals vs. Canadiens/Blue Jackets

The Capitals will likely be around -200 favorites to advance past the first round against either potential opponent. Montreal will secure its spot in the playoffs if it can earn a point against the Hurricanes on Wednesday night.

Western Conference

Avalanche (-120) vs. Stars (+100)

The odds suggest the Avs and Stars are the West's best teams, so it's a shame one of them won't make it to the second round. The Stars have home-ice advantage but are slight underdogs after going 1-1-1 against Colorado during the regular season. Expect this series to go at least six games; a Game 7 would be appointment viewing.

Jets (-200) vs. Blues (+170)

The Jets and their NHL-best regular-season record take on the Blues in Round 1. Winnipeg is a substantial favorite at -200 (66.7%) and beat the Blues 3-1 in the season series. The Jets have failed to advance out of the first round the last two years, but Connor Hellebuyck is playing at an MVP-caliber level.

Golden Knights (-240) vs. Wild (+190)

The Golden Knights narrowly edged out the Kings for the Pacific Division, earning a matchup against the Wild instead of the Oilers. Vegas lost in Game 7 against the Stars last year in its Stanley Cup defense, and oddsmakers appear convinced the team could make another deep run. The Golden Knights have the shortest odds alongside the Stars to represent the West in the Stanley Cup Final.

Oilers (-135) vs. Kings (+115)

The Oilers limp into the playoffs and draw a tough opening-round series against the Kings. Although Connor McDavid and Co. are favorites to advance, they'll have to win at least one game in Los Angeles. Edmonton has beaten L.A. in three straight opening rounds, but the Kings went 3-1 in the regular-season series and could be poised to pull off the upset.

Copyright © 2025 Score Media Ventures Inc. All rights reserved. Certain content reproduced under license.