Post-Free Agency 2021 Stanley Cup Odds – See Which Teams Won/Lost Free Agency

• 2020 NHL free agency saw some big names land in new cities
• Oddsmakers were quick to adjust the 2021 Stanley Cup odds following the transactions
• See the updated betting odds for all 31 NHL teams after free agency

2020 NHL free agency has led to some significant movement in the 2021 Stanley Cup odds. The Vegas Golden Knights are now co-favorites to win it all after landing coveted UFA blueliner Alex Pietrangelo. Buffalo, meanwhile, is being listed as a +5000 longshot despite signing one of the best forwards available in Taylor Hall.

Which teams won and lost NHL free agency? The table below shows the updated 2021 Stanley Cup odds at FanDuel following the trades and signings.

2021 Stanley Cup Odds

Odds taken  Oct. 12 at FanDuel

Golden Knights Now Co-Favored

The Golden Knights are now co-favored to win the Stanley Cup after free agency, primarily due to the team signing top blueliner Alex Pietrangelo to a huge seven-year deal with an $8.8M AAV. They also re-signed their starting goaltender, 2019 Vezina Trophy finalist Robin Lehner, to a six-year deal.

Alex Pietrangelo. That's it. That's the tweet.

— x-Vegas Golden Knights (@GoldenKnights) October 13, 2020

The Golden Knights have gone from +950 to +750 after free agency. It’s hard to argue with the oddsmakers when you consider the powerhouse Knights have made it to at least the conference finals in two of their first three seasons.

An additional reason the Knights are now co-favored is because the odds for the other top five contenders have either stayed the same or gotten worse. Colorado is their toughest competition at the top, but the Avs’ biggest moves were getting Brandon Saad and Devon Toews in separate deals with Chicago and the Islanders. While both solid players, it doesn’t compare to landing one of the best defensemen in the entire league.

Blues Odds Stagnant Despite Krug Addition 

The Blues made one of the biggest splashes on Day 1 of free agency, signing blueliner Torey Krug to a massive 7-year contract worth $45.5 million. The former Bruin is an elite two-way defenseman who was on track to smash the 50-point mark for a fourth straight season before the pandemic hit.

OFFICIAL: Torey Krug is headed to the @StLouisBlues on a seven-year contract. #stlblues pic.twitter.com/OWClqJy71J

— NBC Sports Hockey (@NBCSportsHockey) October 10, 2020

The Blues churning out significant cash for Krug meant that they wouldn’t be paying their own big-name UFA blueliner, Pietrangelo. The Blues’ captain is a better overall defenseman than Krug, so that’s why we haven’t seen any improvement in St. Louis’ cup odds. Boston saw their odds slip from +1100 to +1200 after losing Krug. Adding 20-goal-scorer Craig Smith a day later didn’t lead to any odds adjustment.

It’s hard to consider St. Louis a serious Stanley Cup contender in 2021 when you look at how they performed in Round 1 against Vancouver in the Return-To-Play. Losing the leadership and all-around game of Pietrangelo means we may actually see the Blues’ odds trend downwards in the coming months.

Longshot Sabres Win Hall Sweepstakes

There were several contenders interested in signing former Hart Trophy winner Taylor Hall, but the speedy winger chose Buffalo in free agency. The possibility of Hall playing on a line with superstar Jack Eichel got oddsmakers to bump Buffalo from a +6000 Stanley Cup longshot to +5000.

Fantastic Four. 🙌@hallsy09 | #LetsGoBuffalo pic.twitter.com/K1jT87ifkR

— Buffalo Sabres (@BuffaloSabres) October 12, 2020

The Sabres have big question marks on defense and in the goalie crease, but they could have a good enough offense to finally end their nine-year playoff drought. Even if Eichel and Hall get the Sabres into the postseason, this team is going to in tough with their current goalie tandem of Linus Ullmark and Carter Hutton.

The fact that there are 24 teams with better Stanley Cup odds than Buffalo even after they added a recent NHL MVP to their team speaks volumes to how this franchise is currently viewed by Vegas.

Flames Score Big With Markstrom In Crease

The Calgary Flames landed the most sought after UFA netminder in Jacob Markstrom. The 30-year-old is coming off his best NHL season to date, posting a 23-16-4 record with a .918 save percentage to help the Canucks reach the postseason for the first time in five years.

Markstrom is a big upgrade for Calgary over Cam Talbot, who was solid in 2019-20  (.919 SV%) but has struggled with consistency throughout his career. Markstrom has started over 160 games in the last three seasons and straight-up stole numerous games for Vancouver in that span. It’s no surprise the Flames saw their Stanley Cup odds improve from +3100 to +2900 after the signing.

Getting a reliable goaltender is a big step, but it still doesn’t change the fact that talented forwards Johnny Gaudreau and Sean Monahan have underwhelmed in the playoffs. The Flames also landed defensive stud Chris Tanev but lost one of their best blueliners in TJ Brodie to the Leafs.

On the flip side, the Canucks saw their odds fall from +3000 to +3100. You might expect more of a drop when a team loses their MVP goaltender, but the Canucks signing Braden Holtby helped soften the blow. Holtby has been declining for three years now, but oddsmakers know this is Thatcher Demko’s crease now.

Other Notable Signings

There were several other notable free agency signings that either affected the cup odds or could in the future. The Maple Leafs remain a +1900 longshot despite adding power forward Wayne Simmonds and two-way defenseman TJ Brodie, while the Capitals are staying at +1600 after adding veteran goalie Henrik Lundqvist and defenseman Justin Schultz.

A new journey begins with ONE goal in mind. I’m really excited and grateful for the opportunity to join the @Capitals
See you soon, DC!#ALLCAPS pic.twitter.com/DuShlGUwGR

— Henrik Lundqvist (@HLundqvist) October 9, 2020

The Wild remains a hefty +4700 longshot after signing goalie Cam Talbot, while the Ottawa Senators remain an even further +10000 longshot after signing Matt Murray. The other top goalie on the market was Corey Crawford, who signed with New Jersey. The Devils stayed put at +5500 following the signing.

The Oilers weren’t the flashiest team in free agency, but they quietly got forwards Kyle Turris, Tyler Ennis, Jesse Puljujarvi and power-play quarterback blueliner Tyson Barrie all signed for under $8 million. Their cup odds have stayed put at +2100, but that could change heading into the season. They already had the best power play in the league in 2019-20, and any team with Connor McDavid and Leon Draisaitl is going to be a popular bet.

Tyson Barrie (@tysonbarrie) 🤝 @EdmontonOilers #NHLFreeAgency pic.twitter.com/9ADCAwEQnF

— NHL (@NHL) October 12, 2020

The Montreal Canadiens were another busy team in free agency, acquiring Josh Anderson from Columbus in exchange for Max Domi before signing sniper Tyler Toffoli. Despite the new acquisitions, oddsmakers are skeptical on the Habs. Montreal saw their odds drop from +4700 to +4800, likely due to losing the speed and skill that Domi brings to the table.

Mike Hoffman is the top remaining free agent who didn’t sign with any team in the first three days of free agency. He was on pace for a second consecutive 30-plus goal season before the pandemic hit and has become one of the deadliest goal-scorers in the game. Expect whichever team that lands the coveted sniper to see a slight bump in their cup odds.