The 2025-26 NHL season opens with no clear favorite, as betting markets show tight competition among top teams.

The 2025-26 NHL season opens with a highly competitive Stanley Cup race, as betting markets show no clear favorite. The Vegas Golden Knights and Edmonton Oilers are co-favorites at +800 on BetMGM, with the Golden Knights drawing 8.3% of bets. The Colorado Avalanche and Carolina Hurricanes are both at +850, each attracting 9.7% of wagers. The Toronto Maple Leafs, despite odds dropping from +2000 to +1600, are the most heavily backed team at 10.6%. Over 40% of betting handle is concentrated on the Leafs, Avalanche, and Golden Knights. DraftKings lists the Hurricanes as slight favorites at +750, with Tampa Bay, Edmonton, and Vegas at +800 or +900. The Golden Knights are +400 to win the Western Conference, Carolina +400 in the East. Longshots like the San Jose Sharks and Chicago Blackhawks are the biggest liabilities at +50,000, each drawing 1.9% of bets.