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Updated 2024 Stanley Cup Odds After NHL Free Agency – Hurricanes Now 2nd Betting Favorite

George Nassios

by George Nassios in NHL Hockey

Updated Jul 3, 2023 · 10:54 AM PDT

Boston Bruins defenseman Dmitry Orlov traded to Carolina Hurricanes
Mar 14, 2023; Chicago, Illinois, USA; Boston Bruins defenseman Dmitry Orlov (81) skates against the Chicago Blackhawks at United Center. Mandatory Credit: Jamie Sabau-USA TODAY Sports
  • Following a huge week in the NHL, there’s been some big movers in the 2024 Stanley Cup Odds
  • The Colorado Avalanche maintain their status as favorites, while the Carolina Hurricanes are now pegged as the challengers for the crown
  • Read below for the updated 2024 Stanley Cup odds for all 32 NHL teams

With almost all the top dogs available in free agency now off the board, sportsbooks have released updated Stanley Cup odds for the 2023-2024 season. While the Avalanche maintain their spot atop the heap, there has been a lot of movement in the leaderboard.

Most notably, the Carolina Hurricanes, who bolstered an already impressive defense core, have caused oddsmakers to adjust the likelihood of the Stanley Cup return to North Carolina. Let’s take a look at the updated Stanley Cup odds below and gauge which teams are the best bets.

Stanley Cup Odds 2024

Team Odds
Colorado Avalanche +800
Carolina Hurricanes +900
Edmonton Oilers +1100
New Jersey Devils +1100
Toronto Maple Leafs +1200
Vegas Golden Knights +1300
Tampa Bay Ligtning +1400
Boston Bruins +1500
Dallas Stars +1600
New York Rangers +1700
Florida Panthers +2000
Los Angeles Kings +2000
Minnesota Wild +3000
Pittsburgh Penguins +3000
Buffalo Sabres +4000
Calgary Flames +4000
Ottawa Senators +4000
New York Islanders +4500
Seattle Kraken +4500
Winnipeg Jets +4500
Nashville Predators +5000
St. Louis Blues +5000
Vancouver Canucks +5000
Washington Capitals +5000
Detroit Red Wings +5500
Chicago Blackhawks +10000
Columbus Blue Jackets +10000
Anaheim Ducks +13000
Montreal Canadiens +13000
Arizona Coyotes +13000
Philadelphia Flyers +15000
San Jose Sharks +15000

The odds of the Avalanche winning the Stanley Cup next year remain the same as they did immediately after Vegas won the title, at +800, giving them an 11.1% implied win probability. What that means is, there is no heavy favorite and the crown is up for grabs.

At the same point in time, the Hurricanes opening 2024 Stanley Cup odds stood at +1300 along with a host of other teams, but have since shortened to +900, leaving them alone as the runner-up on the board. That is where we’ll begin our analysis of movers and shakers.


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Odds as of July 3rd, 2023 at FanDuel Sportsbook. Grab a FanDuel promo code to make an early Stanley Cup wager. 

Hurricanes Make Jump in 2024 Stanley Cup Odds

Already owning one of the best bluelines in the league, the Hurricanes nabbed the best defenseman in free agency when they signed Dmitry Orlov to a 2-year/$15.5 million dollar contract. In addition, it’s expected that a trade for Tony DeAngelo will be finalized in a week or so with Carolina basically giving up nothing to Philly.

As always, Carolina was one of the best teams in the league last season and although they were ousted in four games in the Eastern Conference Final, the series was much closer than a sweep would suggest.

Every game they lost was by a single goal, with two going into overtime and the first match of the series needing four extra frames before it was completed. The Canes were also dealing with significant injuries to Andrei Svechnikov, Teuvo Teravainen and Max Pacioretty.

General Manager, Don Waddell resigned both goaltenders and also added Michael Bunting up front, while letting the aging Pacioretty walk. Keep your eyes on the Canes, as they might not be done making moves, but at the moment, there is no defense that’s even close to being as good as the top six that Carolina can ice.

Dubas Moves Quick in Free Agency for Penguins

Amongst the busiest teams in the last week have been the Penguins, with new President Kyle Dubas immediately putting his stamp on the team. In are Reilly Smith, the aforementioned Graves, Lars Eller and Noel Acciari. Gone are Jason Zucker and Brian Dumoulin.

Perhaps Dubas’ biggest move was giving goalie Tristan Jarry a five-year extension. While the former Leafs General Manager has impressed with some decisions in the past, he has a bad track record when it comes to goalie acquisitions, with Petr Mrazek and Matt Murray amongst his biggest blunders while with the Leafs.

Other Movers and Shakers Following Free Agency

No other teams made significant jumps in the Stanley Cup odds, although the Flames continue to tumble down the table, seeing their odds lengthen from +3200 to +4000, with reports that many of their best players won’t extend their contracts beyond next season.

The youthful New Jersey Devils have high expectations put on them, climbing into a tie for 3rd spot with the Oilers at +1100 in the shortest odds to win the Cup. While the Devils traded for Flames winger Tyler Toffoli, they have lost veteran defensemen, Damon Severson and Ryan Graves, so a wager on them might not be the smartest way to go.

Most other teams odds remain very similar to the end of the 2023 playoffs. There are still many unanswered questions, like will Patrice Bergeron be back for the Bruins? Will the Leafs make a huge trade getting rid of William Nylander or Mitch Marner?

At this point, Carolina at +900 and Edmonton at +1100 appear to be solid bets to win the Cup, coming up just short in recent seasons and adding to already impressive lineups. Don’t sleep on Vegas either, as the defending champs really have no huge losses and are currently +1300 to repeat.


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