2024 Stanley Cup Betting Trends & Action Report
Stanley Cup betting trends are always at center ice. Yes, the NHL playoffs just recently concluded, but action is already landing in the 2023-24 Stanley Cup odds market.
While the Vegas Golden Knights just won the Cup, and the Florida Panthers finished as runner-up, neither are atop next season's odds to win the Stanley Cup. Rather, the Colorado Avalanche – the 2022 champs – opened as the favorite.
BetMGM sports trader Christian Cipollini offers insights on Stanley Cup betting odds, trends and action.
2023-24 Stanley Cup Odds
Taking an early look at 2023-24 Stanley Cup betting trends, perhaps surprisingly, the Vegas Golden Knights and Florida Panthers trail a few teams on the championship odds board.
BetMGM has Colorado as the stand-alone title favorite at +800, followed by the Toronto Maple Leafs and Edmonton Oilers at +950.
“The Avalanche have been the opening favorite for the past three seasons. Great high-end players and great depth. The window is still wide open for them.” Cipollini said. “The Oilers have the best player in the world [Connor McDavid], with a good team. They are expected to make a few upgrades, as well.”
The Boston Bruins, coming off a record-setting regular season and a shocking first-round playoff loss to Florida, are the +1000 fourth choice. Then comes defending champion Vegas, the +1200 co-fifth choice with the Carolina Hurricanes and New Jersey Devils.
“The Knights being the co-fifth choice isn't an indictment on them or a knock them after winning the Cup," Cipollini said, "Vegas is still a very good team, obviously.”
Like Boston, Colorado suffered a stunning first-round loss in the playoffs, tumbling to the Seattle Kraken. But that isn't deterring bettors thus far.
“Early action on the Avalanche, per usual," Cipollini said. "Colorado has been our biggest liability since Day 1 the last two years, so the Avalanche are aiming to make that a third year. The second-most action is on the Devils, followed by the Knights.”
Knights Win 2023 Cup
The Vegas Golden Knights were the No. 1 seed in the Western Conference. Yet the Knights kind of flew under the betting radar, due to a confluence of events around other teams, including:
- A record-setting regular season from the Boston Bruins
- The New York Rangers beefing up at the trade deadline
- Toronto Maple Leafs fanfare
- The Colorado Avalanche's status as defending Cup champion
So a Knights team that took the hockey world by storm in its 2017-18 inaugural season – particularly at Las Vegas sportsbooks – didn't get nearly that kind of attention in its sixth season.
"This was probably one of the least-bet years so far for the Knights, through the whole season," Cipollini said, while adding another reason for that lack of interest. "The Knights were shaky at times, and that may have kept some bettors away."
But Vegas proved to be not nearly as shaky as the aforementioned quartet of teams. The Golden Knights cruised to the Stanley Cup with a 4-1 series win over the Panthers.
That wasn't BetMGM's desired outcome, but neither was it a bad result for the book.
“It was the best NHL season in BetMGM history. The outright futures ended up being a big winner," Cipollini said, "The series betting didn't go our way, but we are in no place to complain. We’re certainly happy with the outcome.”
All in all, BetMGM landed in a fairly ideal position considering the Knights made the Cup Final. It was a much better spot behind the counter than that 2017-18 campaign, when Vegas – a massive liability – lost to Washington in the Stanley Cup Final.
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