NHL 2024-25 season betting preview: Is this finally the Oilers' year?

Odds and data via theScore Bet and ESPN Bet

The 2024-25 season is already underway - the Devils and Sabres participated in the NHL Global Series - but regular-season action in North America begins Tuesday.

A new season brings renewed hope, especially for franchises with Stanley Cup aspirations that either came close in recent years or continually fail to live up to high expectations.

Here, we'll look at each team's betting odds to win the Stanley Cup and highlight the favorites to win each of the NHL's major awards.

Stanley Cup odds

The Oilers are the preseason favorites to win the Stanley Cup. Last season's finalists are +750 (11.8% implied probability) to win it all and +350 to reach the Stanley Cup Finals for a second consecutive year.

Many of the members from last year's team are returning to provide support for the best player in the world, Connor McDavid.

McDavid led the NHL in points in five of the past eight seasons (he's the -170 favorite to lead the league in points this season) and led the Oilers to their second Stanley Cup Finals berth since 1990, which they lost to the Panthers in Game 7.

Bettors like the Oilers' chances of making another deep run this season. They're receiving 13% of the bets - second most - to hoist the Cup behind the Maple Leafs, who are receiving 15% of the bets.

Speaking of the Leafs, they're +1200 to win their first Stanley Cup since 1967. They made very few offseason moves of note but brought in Craig Berube as their new head coach and named Auston Matthews as their new captain.

The Stars, Panthers, and Devils are all +1000, the second-shortest odds on the board. Florida is looking to join its in-state rival, the Lightning, as the only teams to win back-to-back championships since the 2016-17 Penguins.

The Predators' offseason moves propelled them up the betting board. Their odds ahead of last season were over +5000 and were +3000 after the 2024 finals. However, following the signings of Steven Stamkos, Jonathan Marchessault, and Brady Skjei, Nashville is down to +1600 and considered one of the league's favorites.

Bettors agree. While it's unknown when the majority of these bets were placed, the Predators are receiving more bets (7% of the total) than all but two teams to win the Stanley Cup.

Hart Trophy odds

McDavid's the heavy favorite to win the league's MVP award. His +140 odds imply a win probability of 41.7%. However, he's only won it three times since 2017, so there may be value elsewhere on the oddsboard.

Last year's winner, Nathan MacKinnon, is +500 to repeat. Alex Ovechkin and Dominik Hasek are the only repeat winners since Wayne Gretzky won eight straight from 1980-1987.

"Rocket" Richard Trophy odds

Matthews is already the odds-on favorite to lead the NHL in goals, a feat he accomplished in three of the past four seasons. The new Leafs captain netted a career-high 69 goals last year, 12 clear of runner-up Sam Reinhart.

McDavid, meanwhile, is +900 to top the league in goals. He's the only player not named Matthews to score at least 60 goals in a season since Stamkos did so in 2011-12, as he potted 64 to win the "Rocket" two seasons ago.

Norris Trophy odds

Cale Makar is the +225 favorite to earn the league's top defenseman honors. He won the Norris Trophy in 2022, when he recorded 86 points and was plus-48.

Quinn Hughes earned the award last season and is looking to become the first defenseman to go back-to-back since Nicklas Lidstrom won three straight from 2006 to 2008.

Vezina Trophy odds

The Vezina Trophy is by far the most wide open of the awards based on the odds, with 11 goalies priced below +2000.

Jets netminder Connor Hellebuyck is the reigning winner, but newly signed Jeremy Swayman is the +550 favorite.

No goalie has won the award back-to-back since Martin Brodeur in 2007 and 2008.

Calder Trophy odds

The Flyers' Matvei Michkov is the favorite to win the Calder Trophy over the No. 1 pick in the 2024 draft, Macklin Celebrini. Michkov was selected seventh overall in 2023 but played last season in the KHL.

Celebrini is trying to become the fourth first overall pick to win the Calder trophy in the past 10 years, following Matthews, Connor Bedard, and Aaron Ekblad.