Should we trust Toronto Maple Leafs as 2023-24 Stanley Cup Odds favorites

NHL Stanley Cup Odds 2023-24: Leafs Jump To Favorite After Free Agency

Vegas did it. After waiting six long years, they finally won the franchise's first Stanley Cup. Fans of the Leafs, Canucks and Sabres are all mad as hell — they've been waiting 50+ years to hoist the Cup.

So, do any of those aforementioned teams have a shot at winning the 2024 Stanley Cup and ending their drought?

Who has the best Stanley Cup odds?

Odds To Win NHL - Stanley Cup 2023-24
Carolina Hurricanes+700
Colorado Avalanche+800
Edmonton Oilers+900
New Jersey Devils+900
Vegas Golden Knights+1000
Toronto Maple Leafs+1200
Dallas Stars+1400
Boston Bruins+1600
NY Rangers+1600
Florida Panthers+1800
Los Angeles Kings+1800
Tampa Bay Lightning+1800
Pittsburgh Penguins+2500
Seattle Kraken+2500
Buffalo Sabres+3300
Minnesota Wild+3300
Calgary Flames+3500
Ottawa Senators+3500
NY Islanders+5000
Washington Capitals+5000
Vancouver Canucks+6000
Detroit Red Wings+6600
Nashville Predators+6600
St. Louis Blues+6600
Winnipeg Jets+6600
Columbus Blue Jackets+10000
Anaheim Ducks+12500
Arizona Coyotes+12500
Chicago Blackhawks+15000
Montreal Canadiens+15000
Philadelphia Flyers+15000
San Jose Sharks+15000

Odds as of August 23rd, 2023 09:01am EDT.

The Toronto Maple Leafs Are Favored to Win the 2023-24 Stanley Cup

To answer the questions about Toronto, Vancouver and Buffalo, only the Maple Leafs are anywhere near contender status for the 2023-24 season. Toronto holds the best odds to win the Cup at +850.

There's no doubt about Toronto's regular-season success. The Leafs 484 regular-season points since 2018-19 are the fifth-most in the NHL. Getting to the playoffs isn't a problem for the buds. The problem is getting through the postseason.

Over the last five playoffs, Toronto holds a sad 16-21 record for a .432% win percentage. The Blackhawks and Coyotes hold better playoff win percentages. 

But obviously, oddsmakers have faith in Toronto's new crop of free-agent signings to change those playoff fortunes.

New GM Brad Treliving must be banking on his new signings adding some depth when his team gets to the playoffs.

Leafs New buds Playoff Production
PlayerPlayoff Points Per Game
Max Domi0.51
Tyler Bertuzzi1.42
John Klingberg0.62
Ryan Reaves0.07 (1.05 PIMS per game)


Keep in mind Bertuzzi has only played seven playoff games, but scoring ten points in that small window is eye-popping. 

With that type of playoff production, Treliving is clearly hoping the Leafs can outscore their issues. Specifically in the net. 

I'm not convinced the Leafs should be the favorites here. Not until they can prove their goaltending can steal a series.

NHL Stanley Cup Odds: Best Value Bet

You know the favorite, now how about a side that might get you a bit more value in the Stanley Cup futures market?

New Jersey Devils

The Devils have it all. With Jack Hughes, Timo Meier and Jesper Bratt, the Devils have one of the better top lines in the league. That trio combined for 1.03 points per game this season. And then they went ad added Tyler Toffoli to a second line alongside captain Nico Hishier and Ondrej Palat.

On the back end, Dougie Hamilton scored 22 goals and 74 points through 82 games. And they'll add highly touted defensive prospect and Jack Hughes' brother Luke Hughes. The University of Michigan product scored 48 points in 39 NCAA games last season.

By letting Mackenzie Blackwell go, the Devils think Akira Schmid is the real deal. In 18 games last year, Schmid had a 0.922 SV% and 2.13 GAA. In the playoffs, he averaged a 0.921 SV% and 2.35 GAA.

If Akira Schmidt can become a star goalie like the Devils feel he can be, then just hand the Cup over to the Devils right now. 

Buffalo Sabres

I know they haven't made the playoffs in 12 years, but with the right acquisition, Buffalo could jump into the conversation. At +3300 it's not a bad idea to consider the Sabres. 

When I say "the right acquisition," I'm talking about a goalie. Buffalo's 293 goals were the third most in the NHL this year. The Sabres are fine offensively. On the blue line, they're set for years with 2018 and 2021 first-overall picks Rasmus Dahlin and Owen Power. But between the pipes, Buffalo has "a hope and a prayer."

Enter 2020 Vezina trophy winner Connor Hellebuyck. He won't re-sign in Winnipeg so the Jets have to move him ASAP before he becomes a UFA and losses all his value. Buffalo owns a ton of draft capital and has one of the strongest prospect pools in the NHL. The Sabres have the pieces to make a trade work. 

Getting Hellebuyck could be all Buffalo needs to not only get into the playoffs but maybe push all the way.

Cup Champions

Last 10 Stanley Cup Champions
YearCup ChampionsOpening Odds
2023Vegas Golden Knights+1800
2022Colorado Avalanche+600
2021Tampa Bay Lightning+900
2020Tampa Bay Lightning+675
2019St. Louis Blues+3000
2018Washington Capitals+1125
2017Pittsburgh Penguins+1100
2016Pittsburgh Penguins+1300
2015Chicago Blackhawks+700
2014Los Angeles Kings+1200


When you look at this list, there aren’t too many shocks. The St. Louis Blues in 2019 are the one exception. At +3000 before the ’18-19 season began, they netted early bettors $3,000 on a $100 bet. But it gets better.

By the all-star break that year, the Blues were at the bottom of the NHL standings. Their odds to win the Stanley Cup were +10000. A $100 bet would have returned a whopping $10,000 in profits. Wild.

The eventual Stanley Cup champions over the last 10 years have had average opening odds of +1180, but take out that 2019 Blues championship and the typical Stanley Cup champion’s odds are +978.

NHL Teams With The Most Stanley Cups

Most Stanley Cup Championships
TeamStanley CupsLast Cup Win
Montreal Canadiens241993
Toronto Maple Leafs131967
Detroit Red Wings112008
Boston Bruins62011
Chicago Blackhawks62015
Edmonton Oilers51990
Pittsburgh Penguins52017
New York Islanders41983
New York Rangers41994
New Jersey Devils32003


Toronto sure has a lot of Cups, but they haven't won one, or even been to a Stanley Cup Final since that championship all the way back in 1967.

At the rate of parity in the NHL it's going to take a long time for any franchise to equalize and even pass Montreal's 24 Stanley Cup banners.

NHL Teams That Have Never Won A Stanley Cup

There are 11 teams, more than a third of the league, that have yet to put their hands on the Stanley Cup.

  • Arizona Coyotes
  • Buffalo Sabres
  • Columbus Blue Jackets
  • Florida Panthers
  • Minnesota Wild
  • Nashville Predators
  • Ottawa Senators
  • San Jose Sharks
  • Seattle Kraken
  • Vancouver Cancuks
  • Winnipeg Jets

Now, technically the Ottawa Senators did win a few Stanley Cups. But the last championship took place before the invention of penicillin not to mention the Senators didn't exist between 1934 (when they moved to St. Louis) and 1992. So, I'm not going to count those. Sorry. 

Stanley Cup Betting Odds and Trends

  • Joe Pavelski leads all active skaters in goals with 72
  • Montreal Canadiens are 5-1 in Games 7's over the last 15 years
  • Chicago has generated the most profit ($1,154.44 with $100 bets) on home ice in the playoffs
  • Tampa is the most profitable playoff team since 2008 with +19 units

How To Bet On Stanley Cup Odds

When it comes to betting on the NHL, odds are available before the puck drops in the regular season. Certain teams will always be contenders, especially if they won the Cup the previous year.

When sportsbooks set the lines, they look at offseason roster moves, coaching changes and past performance specifically the previous season. To bet on Stanley Cup odds, you’d make a futures bet.

Where To Bet On The Stanley Cup Futures

You can find updated Stanley Cup odds at most sportsbooks. If you're looking for recommendations on how to choose the best book for you, head over to our NHL sites review page.

How To Read Stanley Cup Odds 2024

This is a bet in which you would look at the Stanley Cup odds well in advance of the Stanley Cup Finals and back a specific team to win. Let’s say you want to make a futures bet today. The Stanley Cup odds might look something like this:

  • Colorado Avalanche +300
  • Toronto Maple Leafs +550
  • Vegas Golden Knights +800
  • Carolina Hurricanes +900
  • Edmonton Oilers +1100

If this were a moneyline bet, you’d be able to see which team is the clear favorite because it would have a minus sign beside its moneyline odds (-). For Stanley Cup futures, the team with the lowest Stanley Cup odds is favored to win the NHL championship, and the rest are underdogs.

Let’s say you feel strongly about the Leafs and believe they’re going to end a Stanley Cup drought that’s lasted since 1967. If you were to bet $100 on them and they did triumph, you’d get a payout of $650 – your original $100 is returned along with your winnings of $550. Our Stanley Cup odds calculator will show you how much you’d win based on the odds and amount bet.

The Stanley Cup odds change throughout the season. Line movements for NHL futures happen frequently, so if you see Stanley Cup odds you like, it’s best to bet on them ASAP. The Leafs may be +600 to win the Stanley Cup in October but after a surge in December, their Stanley Cup odds could jump to +300 and you’ll make less money than you would if you’d bet them at +600.

What Are Stanley Cup Futures

A futures bet is betting on the outcome of an event before it takes place. When it comes to the Stanley Cup that means betting on who will hoist the league's top trophy well before it's awarded.

Stanley Cup Odds FAQ

Who has won the most Stanley Cup series?

From 1917-18 through to 22-23 the top 10 teams in terms of the most Stanely Cup series won are:

  • Montreal Canadiens: 158
  • Boston Bruins: 133
  • Detroit Red Wings: 121
  • Toronto Maple Leafs: 118
  • Chicago Blackhawks: 114
  • New York Rangers: 113
  • Philadelphia Flyers: 82
  • St. Louis Blues: 76
  • Pittsburgh Penguins: 72
  • Dallas Stars: 69

Who has the most Stanley Cup playoff points?

The most points scored in the Stanley Cup playoffs over a player's career are:

  • Wayne Gretzky: 382 points
  • Mark Messier: 295 points
  • Jari Kurri: 233 points
  • Glenn Anderson: 214 points 
  • Jaromir Jagr: 201 points

Sidney Crosby has the most playoff points for active players at 201 points. 

Has any team won four consecutive Stanley Cups?

Only two teams in NHL history have won at least four consecutive Stanley Cups.

The Montreal Canadiens did it twice. They won five from 1955-56 to 1959-60 and then again 20 years later winning Cups from 1975-76 to 1978-79.

Montreal's dynasty in the 70's was ended when the New York Islanders created a dynasty of their own winning four consecutive Cups from 1979-80 to 1982-83.