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 and are off to a strong start winning the first two games on the road against their cross-state rival Tampa Bay Lightning. The Panthers have the second-shortest odds behind only the Carolina Hurricanes, who have emerged as the Cup favorites and have 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 3-0 on their provincial rivals, the Ottawa Senators, and are now one of the three Eastern teams atop the odds. The Washington Capitals took care of business in Game 1 against the Montreal Canadiens with Alex Ovechkin scoring his first career playoff OT winner and, up 2-0, are the fourth Eastern series leader to be considered a top-5 Stanley Cup favorite.
In the West, two of the favorites clash in the first round as the Dallas Stars, tied with Washington as the other top-5 team, 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 Winnipeg Jets have a 2-1 series lead on the St. Louis Blues, while the Minnesota Wild is up 2-1 on the Vegas Golden Knights in a series the odds consider a virtual toss-up. The Edmonton Oilers lost both their opening road games to the Los Angeles Kings 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 but will need to lead a comeback against the Kings to have a chance to repeat. 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
Sergei Bobrovsky, Panthers: 16-1
Anthony Stolarz, Maple Leafs: 18-1
Auston Matthews, Maple Leafs: 18-1
Nathan MacKinnon, Avalanche: 18-1
Adrian Kempe, Kings: 20-1
Aleksander Barkov, Panthers: 20-1
Alex Ovechkin, Capitals: 20-1
Darcy Kuemper, Kings: 20-1
Matthew Tkachuk, Panthers: 20-1
Mitch Marner, Maple Leafs: 20-1
Seth Jarvis, Hurricanes: 20-1
Cale Makar, Avalanche: 25-1
Frederik Andersen, Hurricanes: 25-1
Jake Oettinger, Stars: 25-1
Nikita Kucherov, Lightning: 25-1
Connor McDavid, Oilers: 30-1
Andrei Vasilevskiy, Lightning: 30-1
Kirill Kaprizov, Wild: 30-1
Kyle Connor, Jets: 30-1
Logan Thompson, Capitals: 30-1
Mark Scheifele, Jets: 30-1
Sam Reinhart, 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
Mackenzie Blackwood, Avalanche: 50-1
Mark Stone, Golden Knights: 50-1
Matt Boldy, Wild: 50-1
William Nylander, Maple Leafs: 50-1
John Tavares, Maple Leafs: 60-1
Andrei Svechnikov, Hurricanes: 75-1
Jaccob Slavin, Hurricanes: 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
Robert Thomas, Blues: 100-1
Sam Bennett, Panthers: 100-1
Thomas Harley, Stars: 100-1
Tim Stutzle, Senators: 100-1
