NHL betting: Sportsbooks split on Cup fave but public backing Panthers, Leafs - ESPN

It's very difficult to three-peat as champion in any major professional sport, but especially in the modern era of the NHL. The league has not seen any team win at least three consecutive Stanley Cups since the New York Islanders won four straight from 1980 to 1983; since the salary cap was implemented in 2005, only three teams have even repeated as champions.

Thus, the two-time reigning champion Florida Panthers will look to become the first three-peat Stanley Cup winners of the salary cap era and sportsbooks, at least initially, liked their odds to do so, as they were co-favorites (+700) to win the 2026 title immediately following their 2025 win, per ESPN BET odds.

Those odds only improved over the summer after the Panthers locked in team-friendly extensions with Aaron Ekblad, Brad Marchand and Sam Bennett, making them +600 solo favorites approaching the end of September. Even offseason groin surgery for superstar Matthew Tkachuk couldn't stop Florida's momentum, as ESPN BET senior director Adrian Horton noted a «large influx of Panthers action,» with bettors understanding that the injury will not keep him out the entire season.

Then it got worse: On Sept. 25, captain Aleksander Barkov went down with a knee injury that required surgery and almost certainly rules him out for the entire regular season, possibly longer. Several books immediately lengthened Florida's Stanley Cup odds, with ESPN BET raising them to +1000, sixth on the odds board.

And yet, the action backing the Panthers remains robust. ESPN BET reports its highest share of Stanley Cup bets (17.1%) and handle (21.4%) backing the Cats, with BetMGM reporting 13.8% of handle, second-best in the market.

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