Stanley Cup Betting Odds

Stanley Cup futures odds allow bettors to wager on the next NHL champion at any time of the year. Sportsbooks are now offering updated future odds on the NHL’s 2023 Stanley Cup champion.

Bettors can make Stanley Cup wagers with any licensed sports betting apps in the state. It’s been awhile since the Detroit Red Wings have played in the Stanley Cup Final, but there’s always next year to look forward to in hockey. Let’s examine the 2023 Stanley Cup futures odds from DraftKings as of Sept. 15, 2022. 

2023 Stanley Cup Odds at DraftKings Michigan

TeamDraftKings Stanley Cup Odds
Avalanche +380
Maple Leafs +700
Panthers +850
Hurricanes +1100
Lightning +1200
Oilers +1600
Flames +1700
Penguins+1900
Wild +1900
Rangers+2000

Colorado Avalanche (+380 At DraftKings Sportsbook)

Colorado lost left wing Andre Burakovsky after he signed a five-year deal with Seattle. Nazem Kadri also left to join the Calgary Flames. But the Avs are still favored to win next year’s Cup for a reason.

The Avs signed Valeri Nichushkin to an extended eight-year contract. Nichuskin had 34 goals and 33 assists including the postseason last year. The Avalanche also have remaining superstars in defenseman Cale Makar and forward Nathan MacKinnon.

Goaltending could be a concern. Starting goalie Darcy Kuemper left to join the Washington Capitals. Former backup Pavel Francouz is still on the roster, and he’ll likely compete with Alexandar Georgiev for the starting job after the Avs acquired Georgiev from the New York Rangers this offseason.

Toronto Maple Leafs (+700)

Long suffering Maple Leafs’ fans are hoping 2023 brings Toronto’s first Stanley Cup title since 1967. Toronto center Auston Matthews led the NHL in scoring last season with 60 goals. He captured his second-straight Rocket Richard Trophy as the NHL’s leading goal scorer.

Toronto finished second in the NHL’s Atlantic Division behind the Florida Panthers with a 54-21-7 record last season. The Maple Leafs bolstered their goaltending unit by trading for Ottawa’s Matt Murray in July. Murray, 28, has a career record of 132-78-22 and a 2.77 goals-against average in 246 regular season games with Ottawa and Pittsburgh. The seven-year NHL veteran goalie also owns a .911 save percentage and 14 shutouts.

Florida Panthers (+850)

The Panthers are now second betting choice after a big trade with Calgary. Florida acquired a possible franchise player in Matthew Tkachuk. He notched 42 goals and 104 points for Calgary last season.

Florida had the best winning record in the NHL’s regular season last year. But the Panthers suffered an inglorious ending in the playoffs after they were swept by the Tampa Bay Lightning.

Carolina Hurricanes (+1100)

Carolina landed Max Pacioretty from Las Vegas last month. Pacioretty, at 33, was limited to 39 games last season due to injury. He still managed to contribute offensively with 19 goals and 18 assists.

The Canes also added defensive stalwart Brent Burns from San Jose. Burns averaged more than 26 minutes of ice time per game last year — at the young age of 37. Burns now joins forces with Jacob Slavin to form one of the NHL’s top defensive duos.

Tampa Bay Lightning (+1200)

The Bolts lost a key piece forward Ondrej Palat. Palat had spent his entire 10-year career in Tampa Bay before signing with the New Jersey Devils during the offseason.

Tampa Bay had a first-round pick in the NHL Draft this summer for the first time since 2019. The Lightning selected Isaac Howard at No. 31 overall.

The Bolts have had success in using the NHL Draft as a means to galvanize their organization. Steven Stamkos, Victor Hedman, Nikita Kucherov, and Andrei Vasilevskiy are all former draft picks, and they remain as Tampa Bay’s core group of stars along with Brayden Point.

Age is catching up with most of these key players, but Tampa Bay still has a window of time to compete for the Cup.

Where Can I Bet on the Stanley Cup Online in Michigan?

DraftKings Sportsbook

Visit: DraftKings Sportsbook to claim a 20% deposit match bonus of up to $1,000 + $50 free bet with $5 deposit.

DraftKings Sportsbook strikes one of the most recognizable presences of any brand in the legal sports betting industry. Hockey enthusiasts can find a substantial offering of NHL betting markets at DraftKings Sportsbook.

Signing up for a new DraftKings Sportsbook MI account unlocks a 20% deposit match bonus up to $1,000 along with a $50 free bet with a $5 deposit.

BetMGM

Visit: BetMGM Michigan to claim a risk-free bet of up to $1,000 with bonus code SHARP.

BetMGM has emerged as a major player in the US sports betting boom. The online sportsbook bearing the BetMGM name offers a wide selection of sports, including extensive NHL betting markets.

BetMGM recently updated its welcome bonus offers, which now includes a risk-free bet up to $1,000. BetMGM Michigan offers sports betting and online casino gaming in an integrated app.

BetRivers

Visit: BetRivers MI to claim a 100% deposit match bonus up to $500 with bonus code SHARPRIV.

Hockey bettors can find the whole gamut of NHL wagering options at BetRivers Sportsbook. Moneyline, spread, parlays, and live betting represent some of the ways to bet on the NHL at BetRivers.

BetRivers Sportsbook offers one of the most generous welcome bonuses in the industry. New players can unlock a 100% deposit match up to $500, which comes with a player-friendly 1x playthrough requirement.

Michigan bettors can wager on the NHL at BetRivers Sportsbook from anywhere within state lines.

FanDuel Sportsbook

Visit: FanDuel Sportsbook to claim a “no sweat first bet” up to  $1,000.

An overwhelmingly popular choice for bettors, FanDuel Sportsbook stands as the No. 1 legal online sportsbook in the US by market share.

NHL betting at FanDuel Sportsbook includes a comprehensive menu of options, including extensive player and team futures markets.

FanDuel Sportsbook welcomes new bettors in Michigan with a “no sweat first bet” up to $1,000.

PointsBet

Visit: PointsBet MI to claim two risk-free bets worth up to $2,000.

PointsBet offers a kind of NHL wagering you won’t find at any other sportsbook. In addition to an extensive selection of traditional betting markets, the sportsbook’s “PointsBetting” wagering option allows you to win or lose more money based on the margin of victory.

New Michigan bettors can find a welcome bonus at PointsBet that includes two risk-free bets up to $2,000. The offer covers one risk-free PointsBetting wager up to $1,500, and one risk-free fixed odds wager up to $500.

Welcome Bonus Offers at Michigan’s Top Legal Online Sportsbooks

How to Place Online Stanley Cup Bets in Michigan

Registering at an Online Sportsbook

You can use MichiganSharp’s online sports betting guide as a resource to find which online sportsbooks operate in Michigan.

Each of the mobile sportsbooks featured here at MichiganSharp.com offers an extensive array of NHL betting options. The welcome bonuses and other promotions vary across the different sportsbooks, however.

To sign up for a new account at an online sportsbook, you’ll be asked for your name, a valid email address, and the last four digits of your Social Security Number.

Making Your First Deposit

Most online sportsbooks use a tab labeled “Cashier” or “Add Funds” to indicate where you can find deposit options.

Some of the best ways to fund an online sportsbook account include ACH/eCheck, PayPal, the Play+ Prepaid card, and credit/debit cards.

Verifying Your Location

US sports betting laws require bettors to be located within a state that allows legal online sports wagering in order to place bets. To place an NHL bet at FanDuel Sportsbook Michigan, for instance, you must be located within Michigan at the time of the bet.

Online sportsbooks use geolocation technology to verify your location any time you’re logged in. You’ll be blocked from placing bets if you’re outside state lines.

Making Bets

Once you’ve registered for a sportsbook account and made your first deposit, you can place bets by simply clicking on a line of your choice. Clicking a line sends the potential wager to your bet slip, usually at the right of the screen.

The bet slip allows you to input the amount you wish to wager and displays the potential payout. If all of the details of your chosen wager look good, click “Confirm” (or something similar) to finalize the bet.

Cashing Out

Most withdrawal methods offered at online sportsbooks take 2-5 business days for the transfer to complete.

Many online sportsbooks only allow you to withdraw using a method you’ve previously used to deposit. PayPal, Play+, and ACH/eCheck can all be used as reliable cashout methods.

How Stanley Cup Odds are Calculated

You’ll notice a “+” or “-“ sign in front of any payout odds displayed at a US sportsbook. These notations indicate the American odds format.

No matter how strong the contender, the teams listed in the Stanley Cup championship futures odds almost always have the “+” American odds notation.  

A bet on the Colorado Avalanche at +350 would use the “+” American odds formula. A $100 bet on the Avalanche winning the 2022 Stanley Cup will return $350 (and you’ll get your initial $100 stake back) if Colorado wins it all.

NHL futures odds can shift significantly throughout the season. Factors that can change futures odds include trades, injuries, and longshot teams winning at an unexpected rate.

NHL Stanley Cup Odds and Betting in Michigan

What is a Stanley Cup Futures Bet?

Futures betting involves placing a bet on the next league champion. NHL Stanley Cup futures bets can be placed at any point during the year, even in the offseason.

Using our example above, if you bet $100 on the Colorado Avalanche to win the 2022 Stanley Cup, you’ve made a futures bet. As the name suggests, the bet revolves around an outcome that takes place in the future.

Futures markets aren’t just limited to which team will win a league championship. Player futures include opportunities to bet on which player will win an accolade like the Maurice “Rocket” Richard Trophy, which goes to the league’s leading goal scorer at the end of the regular season.

What is a Stanley Cup Prop Bet?

Prop bets allow you to wager on events related to the Stanley Cup Finals, aside from just the finals score. Prop bets opportunities for the NHL championship could involve betting on an event from a single game or across the entire series.

Player prop bets, for example, can be made on the number of goals or shots a player will have in a game. Other Stanley Cup props could include betting on how many games the series will go or whether a shutout will occur at any time in the Stanley Cup Finals.

Stanley Cup Finals Betting Strategies

Fading the Public

Sportsbooks wouldn’t make money if the betting public could consistently pick winners. Fading the public represents a betting strategy that purposefully goes against picks made by large segments of the public.

For example, if you saw that 70% of all bets were on Tampa Bay for Game 1 of last year’s Stanley Cup Finals, you’d take Montreal if you wanted to employ the fading the public strategy. That wouldn’t have worked out as Tampa Bay won Game 1 by a score of 5-1, but you get the idea.

Alternate Lines

Point spread betting (also known as puckline betting in the NHL) generally offers relatively even odds on both sides of the puckline.

Some sportsbooks offer alternate lines on point spread wagers, shifting the line and odds on both sides. For example, a line like Tampa Bay (-1.0) might pay at (+110), but an alternate line could offer Tampa Bay (-1.5) at (+164).

Middling

A middling betting strategy aims to take advantage of lines that move significantly and get money on both sides of a bet in a way that yields profit no matter what.

For instance, let’s say you put money on Tampa Bay (-1.5) at (+164) payout odds in a game from last year’s Stanley Cup Finals. If at any point you found a Montreal (+1.5) line at (-163) or better, you could bet the Montreal line as well and make money on the bet, regardless of which team won the game.

Michigan Betting Odds for the Stanley Cup FAQs

Is Betting On The Stanley Cup Legal In Michigan?

Yes. Michigan legalized sports betting in December 2019. The state currently offers several different online sportsbooks, including DraftKings Sportsbook, FanDuel Sportsbook, BetRivers, and several others.

Many commercial and tribal casinos in Michigan operate retail sportsbooks as well.

How Old Do I Need To Be To Bet On The Stanley Cup At An Online Sportsbook?

21 or over. Michigan gaming laws require bettors to be at least 21 to legally bet online. This age applies to all legal online sportsbooks, no matter what the minimum age requirement is at the land-based casino license partner of the sportsbook.

Is It Safe To Place A Bet On The Stanley Cup Online?

Yes, if you’re making the bet at one of Michigan’s legal and regulated sportsbooks. Placing an online wager at a legal online sportsbook in Michigan comes with the same level of safety as making a bet at a land-based casino.

Do Online Sportsbooks Offer Live Betting During The Stanley Cup?

Yes. Live betting features lines that change rapidly as the game goes on, based on what happens from minute to minute.

Michigan’s top online sportsbooks offer extensive live betting options on all NHL games, including the Stanley Cup Playoffs.

What Kind Of Prop Bets Can I Make On The Stanley Cup?

Prop bets on the Stanley Cup Finals could include wagering on which player scores the most goals in the series.

Other Stanley Cup props could include betting on whether a particular player will score a goal in a chosen game or whether any game in the series will go to overtime.

What Team Is The Current Favorite To Win The 2023 Stanley Cup?

The Colorado Avalanche are the betting favorite to win the 2023 Stanley Cup with odds of +400 at DraftKings.  

About the Author

Kris Johnson

Kris is a Senior Writer at Michigan Sharp. With more than 15 years of experience as a sports journalist, Kris Johnson’s work has appeared in Sports Business Daily, Sports Business Journal, NASCAR Illustrated, and more. Kris also wrote a sports-betting novel entitled The Endgame.