The Edmonton Oilers have secured themselves as the NHL Stanley Cup betting favourites in 2025-26 after announcing a two-year, $25 million contract extension with captain Connor McDavid on Monday, just days ahead of the team’s regular-season opener.
McDavid was set to become a free agent at the conclusion of the 2025-26 season, leading to speculation it could be his final year in Edmonton. His new deal will ensure he remains with the club through the 2027-28 season with a team-friendly $12.5 million average annual value.
The 28-year-old initially broke the news of the contract extension via his Twitter account.
McDavid, the undisputed best player in the NHL, left a significant amount of money on the table in an attempt to keep the team well under the rising salary cap and competitive in its pursuit of the Stanley Cup over the next three seasons. The hope is that the team can use the money saved on McDavid’s deal to give him a better supporting cast in the near future.
For comparison’s sake, Minnesota Wild star forward Kirill Kaprizov recently signed an eight-year, $136 million contract extension, which carries a $17 million average annual value. McDavid surely could’ve commanded a more lucrative contract than Kaprizov, but he opted to give Edmonton a massive hometown discount.
“Connor’s commitment to our team and our city is surpassed only by his singular focus of bringing a Stanley Cup back to fans of the Edmonton Oilers,” said Executive Vice President of Hockey Operations and General Manager Stan Bowman in a team-issued press release.
McDavid, a five-time Art Ross Trophy Award winner (awarded to the player who records the most points in a season) and a three-time Hart Trophy (league MVP) recipient, has played his entire 10-year career for the Oilers, who drafted him first overall in 2015.
He has yet to win the Stanley Cup.
Oilers among the Stanley Cup Favourites
The Oilers, who have lost in back-to-back Stanley Cup Finals to the Florida Panthers, are among the favourites to win the Stanley Cup this season, with odds between +750 and +850 depending on the online sportsbook.
Bettors may have been holding back their futures odds wagers on the Oilers with the hopes that a McDavid extension would be announced, and they can now place those bets with peace of mind that he won’t be traded in the near future.
McDavid has the shortest odds in the league to win the Hart Trophy (+190) at BetMGM, which says he accounts for 4.7% of tickets and 6.4% of the handle in that betting market at the sportsbook, surprisingly well behind the 8.2% of tickets and the 13.2% handle on Kaprizov to win the award at BetMGM.
There’s also a tremendous amount of action on McDavid in the Maurice “Rocket” Richard Trophy betting market, with 22.3% of tickets and 39.2% of the handle coming in on the superstar forward at +1800 odds to score the most goals in the league this year.
