NHL Stanley Cup odds: Despite slow start, Avs remain solid favorite

It’s supposed to be extremely difficult to win consecutive championships in professional team sports. You wouldn’t think so, however, if you checked the NHL Stanley Cup odds prior to the start of the 2022-23 season.

After winning their third NHL title in franchise history last season — and first since 2001 — the Colorado Avalanche entered 2022-23 as the clear-cut betting favorite to become the second straight club to win back-to-back Stanley Cups. (The Tampa Bay Lightning — the team Colorado dethroned in last season’s NHL final — did it in 2020 and 2021.)

However, things haven’t gone as smoothly as expected for the Avalanche through the first five weeks of the campaign. Yet the Stanley Cup odds market remains bullish on the defending champs.

Not only is Colorado still heavily favored to be the last team standing come next summer, but the team’s current odds at BetMGM aren’t that far off from its opening number.

Here’s an updated look at the NHL Stanley Cup odds market, including which clubs are in Avs’ rearview mirror and which have made the biggest moves up and down the board.

Note: Odds and records updated as of 4 p.m. ET on Nov. 15.

Colorado saw its season-long four-game winning streak halted with Monday’s 3-2 upset loss at home to the lowly St. Louis Blues. With that, the Avalanche fell to 8-5-1 (17 points) on the season.

While the champs are just two points behind Central Division co-leaders Winnipeg and Dallas, they currently slot seventh in the Western Conference standings and are tied for 14th in the entire league.

Nevertheless, the Avs’ Stanley Cup odds have barely budged. They’re currently +475 at BetMGM, up a tick from an opening price of +450 (and down a smidge from last week’s +500 odds).

The main reason Colorado is holding steady in the NHL futures market despite its somewhat sluggish start? Because BetMGM has been deluged with money on the Avs to successfully defend their title.

Among all the Stanley Cup futures bets placed at BetMGM as of late last week, 17.2% were on Colorado. On top of that, 22.8% of all dollars were on the Avs.

To give those figures some context, the New York Rangers are second to Colorado in both tickets written and money wagered. New York as of late last week was at 9.3% and 12.4%, respectively, followed by the Toronto Maple Leafs (6.0% bets; 5.5% money).

» READ MORE: NFL futures odds: Eagles’ loss to Washington barely moves needle

Like Colorado, the Rangers (8-6-3, 19 points) have struggled out of the gate. They’re looking up at three teams in their Metropolitan Division (New Jersey, the New York Islanders and Carolina). They’re also looking up at eight clubs on BetMGM’s NHL Stanley Cup odds board.

Of that trio, the Hurricanes are among the teams in hot pursuit of the Avalanche. Carolina’s +900 odds are sandwiched between the Boston Bruins (+800) and Vegas Golden Nights (+1000).

Boston (14-2-0) and Vegas (13-3-0) currently lead the Eastern and Western conferences with 28 and 26 points, respectively. The interesting twist there: First-year Golden Knights coach Bruce Cassidy was fired by the Bruins following the 2021-22 campaign after leading the club to six straight playoff appearances.

Led by former Stars coach Jim Montgomery, Boston came into this season as the 13th choice to win the Cup at BetMGM, with +2500 odds. Vegas was initially sitting sixth at +1400, trailing the Avalanche, Maple Leafs (+850), Lightning (+900), Florida Panthers (+1000) and Carolina (+1200).

Toronto (+1200), Tampa Bay (+1400) and Florida (+1400) remain on the upper tier of the NHL championship odds board at BetMGM. And deservedly so, as the Leafs are in second place in the Atlantic Division behind Boston, while the Lightning and Panthers are tied for third.

» READ MORE: NBA betting: Trail Blazers, Jazz paying early-season dividends

Not much was expected from the New Jersey Devils coming into the 2022-23 season. Which was no different than any recent campaign, as the Devils have reached the playoffs just once since losing the 2012 Stanley Cup.

However, a little more than a month into this season, the Devils — who have finished last or next to last in their division seven of the past eight years, including the last four in a row — sit atop Metropolitan Division.

New Jersey (12-3-0, 24 points) ranks behind only Boston and Vegas in victories, and is tied for second with the Golden Knights for fewest losses. And yet, the Devils still trail 10 teams in the NHL Stanley Cup odds race.

That said, their current +2000 price at BetMGM is a far cry from the opener of +8000. It’s also down slightly from +2500 two weeks ago and +2200 last week.

New Jersey has been the biggest mover up the NHL championship odds board, followed by the Dallas Stars (from +4000 opening odds to +2200) and Boston. Additionally, the Calgary Flames have gone from the +1800 co-eighth choice prior to the season (tied with Minnesota) to the current +1200 co-fifth choice (tied with Toronto).

As for clubs making steep moves in the opposite direction: St. Louis has dropped from +2200 to +8000; the Vancouver Canucks have plunged from +5000 to +15000; and the Senators have dipped from +8000 to +15000.

» READ MORE: Full sports betting coverage from The Philadelphia Inquirer

Another squad hovering near the NHL Stanley Cup odds basement: The Philadelphia Flyers.

Despite getting off to a surprising 7-3-2 start — and despite being above .500 at 7-6-2 heading into Tuesday’s game at Columbus — the Flyers are tied with Ottawa and Vancouver at +15000 odds.

It’s a curious descent, considering Philadelphia opened at +6600 and has vastly exceeded expectations to this point.

Then again, if you believe the Flyers will continue playing above their heads and perhaps make a miraculous Philadelphia Phillies-like run to the Cup title, well, you’d be getting supreme value with the current 150-to-1 price at BetMGM.

The only longer shots on the board than Philly: Anaheim, Chicago, Columbus, Montreal and San Jose (all at +25000), and Arizona (+50000).

The Inquirer is not an online gambling operator, or a gambling site. We provide this information about sports betting for entertainment purposes only.