After making arguably the two biggest splashes of the NHL trade deadline, the Dallas Stars and Florida Panthers are the new favorites to win the Stanley Cup in 2025, showing +600 odds at ESPN BET.
Before the transactions, the Stars were +700 to win the season’s championship, while the Panthers were +750 and immediately shortened to +650 before settling at the current number. Pricing across the sportsbook marketplace varies, with some books showing the Stars as outright favorites and others posting Florida as the favorite as short as +500.
Both teams flew up the odds board past the Edmonton Oilers, who sit at +700 as of Friday afternoon and are not the Cup favorites for the first time since July 2, when the Panthers were favored. The two teams faced off in the 2024 Stanley Cup Final, with Florida prevailing.
Edmonton is still easily ESPN BET’s most popular Stanley Cup future selection, attracting a leading 22.7% of the bets and 14.2% of the handle. The Panthers have the second-most money at 9.8%, while the Hurricanes have the second-most tickets at 13.4%. Carolina, which had traded for Rantanen in late January, is fourth on the sportsbook’s odds board at +900.
Prior to the trade, Colorado was +1300 to lift the Cup and is +1000 as of Friday afternoon, tied with the Washington Capitals for fifth.
Washington, attracting plenty of attention and special betting markets amid Alex Ovechkin‘s goal record chase, has taken the third-most Cup futures wagers (8.5%) at ESPN BET. Meanwhile, the Winnipeg Jets, leading the league with 90 game points, are tied with two other teams at +1200 on the odds board, but have attracted the third-most money (9.4%) at the sportsbook. Each team made smaller trades ahead of the deadline.
The days leading up to the 2025 NHL trade deadline were a furious final sprint as contenders looked to stock up for a postseason run while rebuilding clubs added prospects and draft capital.
After the overnight Brock Nelson blockbuster Thursday, Friday lived up to expectations, with Mikko Rantanen, Brad Marchand and other high-profile players finishing the day on different teams than they started with. All told, NHL teams made 24 trades on deadline day involving 47 players.
Which teams and players won the day? Who might not feel as well about the situation after trade season? Reporters Ryan S. Clark, Kristen Shilton and Greg Wyshynski identify the biggest winners and losers of the 2025 NHL trade deadline:
There are some who saw what the Carolina Hurricanes did at the trade deadline — or perhaps failed to do after they traded Mikko Rantanen — and believe they’re cooked when it comes to the Stanley Cup playoffs. However, based on the projections from Stathletes, the Canes remain the team with the highest chances of winning the Cup, at 16.7%.
Standing before them on Sunday are the Winnipeg Jets (5 p.m. ET, ESPN+). The Jets had a relatively quiet deadline, adding Luke Schenn and Brandon Tanev, though sometimes these additions are the types of small tweaks that can push a contender over the edge. As it stands, the Jets enter their showdown against the Canes with the sixth-highest Cup chances, at 8.7%.
Carolina has made two trips to the Cup Final: a loss to the Detroit Red Wings in 2002 and a win over the Edmonton Oilers in 2006. The Canes have reached the conference finals three times since (2009, 2019, 2023). Winnipeg has yet to make the Cup Final, and was defeated 4-1 in the 2018 Western Conference finals by the Vegas Golden Knights in the club’s lone trip to the penultimate stage.
Both clubs are due. Will this be their year?
There is a lot of runway left until the final day of the season on April 17, and we’ll help you keep track of it all here on the NHL playoff watch. As we traverse the final stretch, we’ll provide detail on all the playoff races — along with the teams jockeying for position in the 2025 NHL draft lottery.
Points: 43 Regulation wins: 12 Playoff position: N/A Games left: 17 Points pace: 54.3 Next game: vs. NSH (Tuesday) Playoff chances: ~0% Tragic number: 8
Race for the No. 1 pick
The NHL uses a draft lottery to determine the order of the first round, so the team that finishes in last place is not guaranteed the No. 1 selection. As of 2021, a team can move up a maximum of 10 spots if it wins the lottery, so only 11 teams are eligible for the draw for the No. 1 pick. Full details on the process can be found here. Sitting No. 1 on the draft board for this summer is Matthew Schaefer, a defenseman for the OHL’s Erie Otters.
Hintz extended his stick toward Henrique, whose wrist shot sent the puck under Hintz’s visor during his club’s 5-4 loss to the Oilers. He was on the ice, with his face in a towel, as the team’s medical staff assessed him and helped him skate toward the dressing room.
After the loss, Dallas coach Peter DeBoer said Hintz was at a local hospital, receiving tests. The coach added that the initial report was fairly optimistic for Hintz, 28, who has 25 goals and 52 points.
“Everyone’s optimistic that it’s not ‘serious, serious,'” DeBoer said. “But we won’t know until we get testing.”
The short-handed Stars rallied from a 5-1 deficit before eventually losing. Trade deadline acquisition Mikko Rantanen had a goal and an assist in his debut for Dallas, which had its four-game winning streak stopped. Wyatt Johnston, Jamie Benn and Matt Dumba also scored for the Stars.