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 3-1 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 3-1 on their provincial rivals, the Ottawa Senators, but the Senators took a dramatic Game 4 win in OT to extend the series. 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 are up 3-1 with a chance to clinch on Tuesday.
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 every game this series. The Winnipeg Jets and St. Louis Blues are even after the Blues scored five goals on Conn Smythe-favorite Connor Hellebuyck in Game 4, while the Minnesota Wild and Vegas Golden Knights are tied 2-2 in a series the odds consider a virtual toss-up. The Edmonton Oilers lost both their opening road games to the Los Angeles Kings but won the next two to even the series 2-2.
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 first need to lead get his team past the Kings to have a chance to repeat. Below, you can see all of the top favorites for Conn Smythe, as
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