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The 2025 Stanley Cup Playoffs have begun with 16 teams looking to be the last one standing after four grueling rounds of playoff hockey action. The Florida Panthers return to defend their championship, but will have to contend with regular-season powerhouses including the Winnipeg Jets, Washington Capitals and the Edmonton Oilers.

The Panthers first have to contend with their cross-state rival Tampa Bay Lightning, but got off to a strong start in Game 1 with 6-2 road win. The victory saw the Panthers leapfrog several teams to be given the second-shortest odds behind only the Carolina Hurricanes, who have emerged as the Eastern Conference favorites thanks to a 2-0 series lead over the banged-up New Jersey Devils.

The Toronto Maple Leafs, looking to snap the longest championship drought in NHL history, are up 2-0 on their provincial rivals, the Ottawa Senators, and are now among the top five favorites. The Capitals took care of business in Game 1 against the Montreal Canadiens with Alex Ovechkin scoring his first career playoff OT winner and followed it up with a Game 2 victory to take a commanding series lead.

In the West, two of the favorites clash in the first round as the Dallas Stars take on the Colorado Avalanche with the teams trading wins in Games 1 and 2, followed by a Game 3 road win by the Stars which saw the teams essentially trade places in the odds race. The Jets have a 2-0 series lead on the St. Louis Blues, while the Vegas Golden Knights and Minnesota Wild traded wins in Games 1 and 2. The Oilers lost both their road games to the Los Angeles Kings, who are considered the favorite in this series, and must now win at home to get back into the race.

Last year’s Conn Smythe Trophy winner, Connor McDavid, won the top award for playoffs MVP despite his team not winning the championship. This year, he hopes to win it again, but on a happier note. Below, you can see all of the top favorites for Conn Smythe, as well as the odds for every team to win their opening-round series, advance to, and to win the Stanley Cup.

All odds accurate as of publish time. For more, go to ESPN BET.

Odds to win Conn Smythe trophy

The Conn Smythe is awarded to the player deemed to have been the most valuable to his team throughout the playoffs. Players listed with 200-1 odds or better. More odds available at ESPN BET..

Connor Hellebuyck, Jets: 12-1
Sebastian Aho, Hurricanes: 15-1
Jack Eichel, Golden Knights: 16-1
Anthony Stolarz, Maple Leafs: 18-1
Nathan MacKinnon, Avalanche: 18-1
Aleksander Barkov, Panthers: 20-1
Alex Ovechkin, Capitals: 20-1
Auston Matthews, Maple Leafs: 20-1
Matthew Tkachuk, Panthers: 20-1
Seth Jarvis, Hurricanes: 20-1
Adrian Kempe, Kings: 25-1
Cale Makar, Avalanche: 25-1
Darcy Kuemper, Kings: 25-1
Frederik Andersen, Hurricanes: 25-1
Jake Oettinger, Stars: 25-1
Mitch Marner, Maple Leafs: 25-1
Nikita Kucherov, Lightning: 25-1
Andrei Vasilevskiy, Lightning: 30-1
Connor McDavid, Oilers: 30-1
Kyle Connor, Jets: 30-1
Logan Thompson, Capitals: 30-1
Mark Scheifele, Jets: 30-1
Sam Reinhart, Panthers: 30-1
Sergei Bobrovsky, Panthers: 30-1
Tomas Hertl, Golden Knights: 30-1
Anze Kopitar, Kings: 40-1
Leon Draisaitl, Oilers: 40-1
Logan Stankoven, Hurricanes: 40-1
Adin Hill, Golden Knights: 50-1
Brayden Point, Lightning: 50-1
Dylan Strome, Capitals: 50-1
Kevin Fiala, Kings: 50-1
Kirill Kaprizov, Wild: 50-1
Mackenzie Blackwood, Avalanche: 50-1
Mark Stone, Golden Knights: 50-1
William Nylander, Maple Leafs: 50-1
John Tavares, Maple Leafs: 60-1
Andrei Svechnikov, Hurricanes: 75-1
Jaccob Slavin, Hurricanes: 75-1
Matt Boldy, Wild: 75-1
Mikko Rantanen, Stars: 75-1
Pavel Dorofeyev, Golden Knights: 75-1
Roope Hintz, Stars: 75-1
Wyatt Johnston, Stars: 75-1
Brady Tkachuk, Senators: 100-1
Connor McMichael, Capitals: 100-1
Filip Gustavsson, Wild: 100-1
Jason Robertson, Stars: 100-1
Linus Ullmark, Senators: 100-1
Miro Heiskanen, Stars: 100-1
Nico Hischier, Devils: 100-1
Pyotr Kochetkov, Hurricanes: 100-1
Quinton Byfield, Kings: 100-1
Sam Bennett, Panthers: 100-1
Tim Stutzle, Senators: 100-1
Brandon Hagel, Lightning: 150-1
Jacob Markstrom, Devils: 150-1
Jake Guentzel, Lightning: 150-1
Jordan Binnington, Blues: 150-1
Joseph Woll, Maple Leafs: 150-1
Martin Necas, Avalanche: 150-1
Matt Duchene, Stars: 150-1
Pierre-Luc Dubois, Capitals: 150-1
Shea Theodore, Golden Knights: 150-1
Thomas Harley, Stars: 150-1
Tom Wilson, Capitals: 150-1
Valeri Nichushkin, Avalanche: 150-1
Victor Hedman, Lightning: 150-1
Aliaksei Protas, Capitals: 200-1

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Leafs forced to ‘look in the mirror’ after drubbing

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Leafs forced to 'look in the mirror' after drubbing

TORONTO — The Maple Leafs‘ offense was missing in action again in Game 5 of the Eastern Conference semifinals Wednesday night, as a 6-1 loss to the Florida Panthers now has Toronto facing playoff elimination.

The Leafs, who were shut out 2-0 in Game 4, didn’t score until the final two minutes of Game 5 and now trail 3-2 in the best-of-seven series after holding a 2-0 lead.

Toronto’s top skaters were, again, invisible. Auston Matthews, Mitch Marner and William Nylander have yet to record a goal in the second round. And now the Leafs will have to log consecutive wins to extend their postseason.

“I think everybody’s got to look in the mirror,” Matthews said. “Myself included. Everybody wants to be better. Everybody wants to win.”

Matthews has just three goals in the Leafs’ last 21 games. He was third on the team in regular-season scoring, with 33 goals in 67 games.

It wasn’t just Matthews, though. Toronto was lifeless from the start of Game 5 and never seemed to challenge Florida at either end of the ice.

The Panthers heavily outplayed the Leafs throughout the first period, and it was defenseman Aaron Ekblad who finally beat goaltender Joseph Woll to give Florida a 1-0 lead through 20 minutes.

While Woll kept Toronto in a tight matchup, it was clear already the Leafs were struggling to keep up with the Panthers.

“We played slow,” Toronto coach Craig Berube said. “They were fast, they were on us, they were hungrier. That’s the first period, and that sets the tone for the game. It is hard to explain it. We all need to be better, me included. You can’t start the game that way, that’s a big thing for me.”

The Panthers opened the floodgates in the second period, helped by a landslide of Leafs mistakes. Dmitry Kulikov extended Florida’s lead with a goal tipped in by Leafs forward Scott Laughton‘s stick. Then Marner’s attempt to execute a spinning backhand pass in his own zone led to a turnover in the neutral zone that was picked up by Jesper Boqvist and snapped past Woll to give Florida a 3-0 lead midway through the second frame.

Boqvist entered the lineup in Game 5 to replace the injured Evan Rodrigues, who left Sunday’s Game 4 following a hit from Leafs defenseman Oliver Ekman-Larsson.

Niko Mikkola made it 4-0 before the end of the period, giving three Florida defensemen goals on the night.

By the time A.J. Greer scored Florida’s fifth goal — the first playoff make of his career — in the third period, it was time for Toronto to make a change in net, with Woll being replaced by Matt Murray.

Frustrated fans, who had booed the Leafs off their own ice to end the second period, began throwing items onto the sheet, including a Matthews jersey. People were exiting in droves by early in the third period.

“We didn’t give them much reason to stick around,” Matthews said.

Woll finished the game with five goals on 25 shots for an .800 save percentage.

Florida wasn’t done after Woll’s departure, though, with Sam Bennett adding a power play goal to give the Panthers a 6-0 lead halfway through the third period.

Toronto’s top skaters have had no response for Florida’s suffocating pressure — or Sergei Bobrovsky‘s impressive play.

Since giving up 13 goals to Toronto through the series’ first three games, Bobrovsky has been airtight in denying the Leafs any opportunity to score.

Berube tried making adjustments. He inserted David Kampf and Nicholas Robertson into the lineup for Game 5 to try and generate a spark, and moved Max Pacioretty to the top line during the game in an effort to generate some momentum. Nothing seemed to help.

Toronto hadn’t registered a goal since 10:56 of the third period of Game 3 until Robertson put one past Bobrovsky with 90 seconds left Wednesday night. It was all too little, too late.

“Tonight, it wasn’t a good game for anybody,” Berube said. “Anybody. All of us. it was not a good game.”

Leafs defenseman Chris Tanev was quick to shoulder the burden of Toronto’s defeat, echoing a refrain heard around the locker room from players determined not to let this be the penultimate game of their season.

“I’ll take responsibility,” Tanev said. “I need to be better. If I’m a minus player [at minus-2 in Game 5], we’re probably not going to win the game. It’s on me. I’ll take responsibility for the game.”

Game 6 is Friday in Florida.

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Kapanen’s OT winner propels Oilers to West finals

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Kapanen's OT winner propels Oilers to West finals

LAS VEGAS — Kasperi Kapanen scored on a scramble in front of the net at 7:14 of overtime, and the Edmonton Oilers beat the Vegas Golden Knights 1-0 in Game 5 on Wednesday night to advance to the Western Conference finals for the second year in a row.

The Oilers, who last season made it to the Stanley Cup Final before losing in seven games to Florida, will play Dallas or Winnipeg in the next round. The Stars, who lead their series 3-1, will go for a series win Thursday night.

Kapanen’s goal backed up another shutout performance from goalie Stuart Skinner, who made 24 saves and drew several chants of “Stu! Stu!” from Oilers fans in the crowd. Skinner, who was benched two games into the playoffs, also blanked the Golden Knights in Game 4. This was his third start in a row in replacing injured Calvin Pickard.

Adin Hill made 29 saves for Vegas.

Both teams also were involved in the two most recent scoreless playoff games to reach overtime. The Oilers lost to Winnipeg on May 21, 2021, five days after the Golden Knights were defeated by Minnesota.

Edmonton’s only other 1-0 overtime playoff victory occurred in 1997 over Dallas. Vegas has yet to win a postseason game by that score in OT.

The Golden Knights played without captain Mark Stone because of an upper-body injury that caused him to sit out most of Game 3 on Saturday. He played in Game 4 on Monday but was far from being at full health.

Neither team scored through the first two periods, and prime scoring chances were at a premium. There were only five high-danger chances, according to Natural Stat Trick, and the Golden Knights had four of them.

But each team had a grade-A chance early in the third period. Vegas’ Brett Howden whiffed on a tap-in after taking a fantastic pass from Jack Eichel, and shortly after Edmonton’s Leon Draisaitl failed to convert on a breakaway. Connor McDavid had a chance on a 2-on-1 to end the game in regulation but was denied by Hill with 1:06 left.

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Golden Knights captain Stone misses Game 5

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Golden Knights captain Stone misses Game 5

LAS VEGAS — Vegas Golden Knights captain Mark Stone sat out Game 5 on Wednesday night in the second-round playoff series against the Edmonton Oilers because of an upper-body injury.

Stone was injured in the first period Saturday in a last-second 4-3 victory by the Golden Knights and did not play in the second and third period. He returned, however, to play in Game 4 on Monday, a 3-0 Vegas loss.

Stone had two goals and two assists in the first two games of the series but has not scored a point since then.

The Oilers took a 3-1 series lead into Wednesday’s game.

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