Stanley Cup Odds: Who Will Hoist the NHL Championship Trophy in 2026?

The NHL is about to come to a screeching halt. 

In a matter of weeks, the league will pause operations as it sends its players to Italy for the 2026 Milan-Cortina Winter Olympics. 

Between now and then will be a hectic time in the league as teams jockey for positioning in the NHL hierarchy before the stoppage of play. It’s unlikely, though, that any team is able to supplant the current Stanley Cup favorite before then. 

I’m sure you can guess who that team is, but if you don’t already know, here’s a look at where the Stanley Cup odds stand as of January 29. 

Stanley Cup Odds

Who’s Favored to Win the Stanley Cup?

Colorado Avalanche (+230)

The Avalanche remain a favorite to win the Stanley Cup, in spite of what’s been a really bad stretch for the now 35-7-9 team. 

Colorado seemed like an unstoppable force through most of the first half of the season, stacking up wins and quickly becoming a favorite to win their second championship this decade. 

However, what was the team that could barely ever lose in regulation has become a team that has gone 4-4-2 in its last 10 games. 

The Avalanche have made a habit of dropping games to inferior competition. This past week, they’ve lost to the Predators, the Ducks (in a shootout), the Flyers, and just Wednesday night to the Senators.

Since the start of 2026, Colorado has a 5-5-2 record, and they’re just barely outscoring their opponents with 41 goals-for and 39 goals-against in the New Year. 

Any more decline in the Avalanche could mean they drop out of that top odds spot. 

But, maybe more importantly, if Colorado can’t correct whatever issues are causing these losses against bad opponents, they’ll definitely be exploited when they face tougher competition in the playoffs.