Which Canadian Team Is Most Likely to Win the Stanley Cup?

More than three decades have passed since a Canadian team won the Stanley Cup, as the Montreal Canadians were the last to do so in 1993.

The Edmonton Oilers have come close each of the last two seasons, but fell short against the Florida Panthers in the Stanley Cup Final on both occasions.

With the 2025-26 NHL season set to start on Oct. 7, there’s no better time to examine which Canadian team is most likely to win the Stanley Cup this season.

To do that, I’ll analyze the latest Stanley Cup odds from the BetMGM online sportsbook.

Which Canadian Team Is Most Likely to Win the Stanley Cup?

Edmonton Oilers +850 Stanley Cup Odds

The Oilers have the best Stanley Cup odds of any Canadian team, which isn’t surprising considering what they’ve accomplished in recent seasons.

Edmonton has reached the conference finals in three of the last four years and made back-to-back trips to the Stanley Cup Final.

While the Oilers have yet to secure the future of superstar Connor McDavid, who is entering the final year of his contract, the three-time NHL MVP has reiterated his desire to win a Stanley Cup in Edmonton.

As long as McDavid remains with the Oilers, they will have a chance to make that dream a reality.

Toronto Maple Leafs +1800 Stanley Cup Odds

After another disappointing playoff exit, Toronto reshuffled the deck this offseason, trading Mitch Marner to the Vegas Golden Knights.

That move opened up cap space for the Leafs to sign breakout star Matthew Knies to a six-year extension and bring back John Tavares, who took a significant pay cut to remain with his hometown team.

Still, the reigning Atlantic Division champions, led by captain Auston Matthews, should have slightly lower expectations this season.

Maybe that’s what Toronto needs to get over the hump finally.

Winnipeg Jets +2500 Stanley Cup Odds

Winnipeg was one of last season’s biggest surprises, leading the NHL with 56 wins and 116 points to claim the franchise’s first Presidents’ Trophy.

However, the Jets were unable to maintain that momentum in the postseason, falling in the second round to the Dallas Stars in six games.

NHL MVP Connor Hellebuyck struggled in the playoffs, and I wouldn’t count on him besting the regular-season career highs he set in wins (47), GAA (2.01), SV% (.925), and shutouts (8).

Winnipeg could take a few steps back this season, especially after losing winger Nikolaj Ehlers (63 points last season) to Carolina in free agency.

Ottawa Senators +3500 Stanley Cup Odds

By returning to the playoffs for the first time since 2017, the Senators proved they are a team on the rise. 

That first taste of playoff experience should aid the development of Ottawa’s young core, highlighted by Tim Stutzle, Brady Tkachuk, and Jake Sanderson.

The Sene didn’t make many big splashes this offseason and may be a year or two away from competing with the league’s elite teams.

Montreal Canadiens +5000 Stanley Cup Odds

The Canadiens overcame long hockey odds to make the playoffs last season and will look to progress further in Martin St. Louis’ fourth full season in charge.

Montreal made several splashes this offseason, trading for New York Islanders defenceman Noah Dobson and St. Louis Blues forward Zack Bolduc, among other moves, which have only helped heighten expectations.

The Habs have a talented young roster and could produce a second consecutive Calder Trophy winner, as Ivan Demidov is favoured to follow in Lane Hutson’s footsteps.

However, a Stanley Cup run feels like a stretch this season.

Vancouver Canucks +6600 Stanley Cup Odds

The Canucks were one of the league’s biggest disappointments last season, as dysfunction in the locker room led to the team missing the playoffs a year after winning the Pacific Division.

Can offseason acquisition Evander Kane stay healthy? Will new head coach Adam Foote be able to steady the ship?

Vancouver enters this campaign with more questions than answers.

Calgary Flames +10000 Stanley Cup Odds

The Flames have the longest odds of any Canadian team to win the Stanley Cup this season, which isn’t surprising considering Calgary’s relatively quiet offseason.

While retaining goaltender Dustin Wolf, winger Matt Coronato, and defenceman Kevin Bahl were top priorities, this roster needed an infusion of talent after missing the playoffs for the third straight year.

Despite having cap space, that didn’t really materialize.

What Are the Chances of a Canadian Team Winning the Stanley Cup?