Ottawa's defense, led by netminder Craig Anderson, shut down New York 3-0 at Madison Square Garden on on Thursday.
Bettors who backed the Senators were rewarded as +150 underdogs at sportsbooks. Over-Under bettors saw the total score go UNDER the closing total of 5.5.
Ottawa got goals from Jason Spezza (2) and Milan Michalek in the victory. Spezza opened the scoring at 8:54 of the second period.
Craig Anderson turned in a 34-save effort for the Senators.
Henrik Lundqvist stopped 21 of 24 shots for the Rangers, but it wasn't enough to earn the victory.
On the power play, Ottawa went 1-for-2, while the Rangers were 0-for-4 with the man advantage.
Ottawa lost the shots on goal battle to New York by a margin of 34-24.
Ottawa heads into a battle against the Canadiens. New York, meanwhile, will have their next action against Toronto.