A look at Western Conference and Stanley Cup futures at BetMGM Ontario Sportsbook really tells the story on where the Edmonton Oilers sit.
The Oilers have seen the biggest line movement on the Stanley Cup betting front between opening preseason odds and now – 11.0 to 9.0 in decimal odds. That’s followed by the Toronto Maple Leafs, shifting from 17.0 to 16.0, and the Nashville Predators dropping from 36.0 to 17.0.
The defending champion Florida Panthers are second as betting favourites, at 10.0.
But does being the betting favourite in the preseason translate to tangible success? Here is how Stanley Cup favorites have fared in the past 10 seasons, with final record, points, and how each team fared in the playoffs, with the team that eliminated them if applicable. Data comes from the Sports Odds History website.
How Preseason Stanley Cup Favorites Finished Since 2014-15
Year, team | Odds | Final Record | Points | Playoffs |
2023-24 Avalanche | +900 | 50-25-7 | 107 | Lost second round (Stars) |
2023-24 Hurricanes | +900 | 52-23-7 | 111 | Lost second round (Rangers) |
2022-23 Avalanche | +450 | 51-24-7 | 109 | Lost first round (Kraken) |
2021-22 Avalanche | +600 | 56-19-7 | 119 | Won Stanley Cup |
2020-21 Avalanche | +700 | 39-13-4 | 82 | Lost second round (Golden Knights) |
2019-20 Lightning | +675 | 43-21-6 | 92 | Won Stanley Cup |
2018-19 Lightning | +875 | 62-16-4 | 128 | Lost first round (Blue Jackets) |
2017-18 Penguins | +875 | 47-29-6 | 100 | Lost second round (Capitals) |
2016-17 Blackhawks | +850 | 50-23-9 | 109 | Lost first round (Predators) |
2015-16 Blackhawks | +750 | 47-26-9 | 103 | Lost first round (Blues) |
2014-15 Blackhawks | +700 | 48-28-6 | 102 | Won Stanley Cup |
Note: The 2019-20 and 2020-21 seasons were shortened.
These Ontario sports betting odds are from SportsOddsHistory.com, which uses the BetMGM Sportsbook. We used the final preseason odds in each case. There were co-favorites in 2023-24 so both teams are accounted for. All 11 teams made the postseason and three won the Stanley Cup – however, the other eight failed to reach the conference final.
Edmonton Oilers Preseason Cup Favorites
The Oilers are generating the highest ticket percentage (12.6% of wagers) and highest handle (27.3% of money bet). They are also betting favorites (4.5) to win the Western Conference. OntarioBets.com has produced a new Edmonton Oilers betting guide for you to bookmark.
You can see why the excitement is there. The Oilers lost in seven games in the Cup final last spring to the Panthers. The new Amazon NHL documentary that’s going to be released soon really shows the emotional tumult that series caused the players on that Oilers team. When NHL players go through a wrenching experience like that, it often brings benefits in the longer term.
What Oilers Did In Offseason
In the offseason, the team locked down superstar Leon Draisaitl to an eight-year $68 million contract extension (starting in 2025-26), making Edmonton Oilers Stanley Cup odds even more appealing. They also picked up forwards Jeff Skinner ($3 million, one year) and Viktor Arvidsson (two year, $8 million) on value deals as free agents.
Yes, they’ve lost Evander Kane to surgeries, but Kane is expected to be back before the playoffs start.
Of course, any conversation about the Oilers starts with three-time Hart Trophy winner Connor McDavid. He was named league MVP is his second season, 2016-17, and has finished in the top five in voting in every season since. The 27-year-old center is again the top tip to win the Hart Trophy at Ontario betting apps. For example, he has 2.5 decimal odds at NorthStar Bets Ontario Sportsbook.
The Oilers open their regular season Oct. 9 against the Winnipeg Jets.
USA Today photo by Perry Nelson
