The Stanley Cup Finals are officially in sight, as the NHL Playoffs are now down to just four remaining teams entering the Conference Finals. The action begins out West with what should be a tremendous matchup between the Vegas Golden Knights and the Colorado Avalanche.

Neither team enters the series with much of a rest advantage, as Colorado wrapped up its second-round series on May 13th while Vegas finished theirs on May 14th. The Avalanche certainly appear to carry a bit more momentum into the matchup, however, after rallying for a comeback victory in Game 5 before eventually closing out the Minnesota Wild in overtime at home.

Vegas looked equally impressive in its closeout performance, dominating the Anaheim Ducks 5-1 in Game 6 to advance. These two teams were incredibly competitive during the regular season as well, with Colorado winning two of the three meetings. Every game was tightly contested, and two of the three matchups required overtime, which only adds to the anticipation surrounding this series.

Over in the Eastern Conference, things look a bit different as the Montreal Canadiens prepare to face the Carolina Hurricanes. On paper, this appears to be a difficult challenge for Montreal considering the vastly different playoff paths these teams have taken so far.

The Canadiens have already endured two grueling seven-game series, including wrapping up their latest battle against the Buffalo Sabres just last night. Meanwhile, Carolina has looked absolutely dominant through two rounds, sweeping both opponents and not playing a game since May 9th.

The biggest storyline in this matchup could end up being the contrast in rest versus rhythm. Carolina will certainly be fresh, but there is always the question of whether such a long layoff can disrupt momentum. Montreal, on the other hand, may be battle-tested and sharp, but fatigue could become a major factor after such a physically demanding postseason run.

One interesting wrinkle is that the Canadiens actually swept the regular season series against Carolina, winning all three meetings. Whether that success can translate into playoff hockey against a rested Hurricanes squad remains to be seen, but it certainly adds another layer of intrigue heading into the Eastern Conference Finals.

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Now with just four teams remaining, sportsbooks will continue adjusting odds rapidly as these series unfold, particularly depending on how quickly teams can steal momentum early in each matchup.

Western Conference Odds (per DraftKings)

TeamOddsImplied Probability
Colorado Avalanche-26072.22%
Vegas Golden Knights+21032.26%

Eastern Conference Odds (per DraftKings)

TeamOddsImplied Probability
Carolina Hurricanes-27573.33%
Montreal Canadiens+22530.77%

Stanley Cup Champion Odds (per DraftKings)

TeamOddsImplied Probability
Colorado Avalanche+13043.48%
Carolina Hurricanes+17037.04%
Vegas Golden Knights+60014.29%
Montreal Canadiens+70012.50%

It’s very clear that sportsbooks are heavily favoring the higher-seeded teams remaining in the Conference Finals, both in the individual series prices and in the Stanley Cup futures market overall. The Colorado Avalanche and Carolina Hurricanes have looked like the most complete teams throughout the postseason, and oddsmakers are rewarding both clubs for their dominant performances through the first two rounds.

Home ice advantage also plays a major role at this stage of the playoffs. Opening a series at home is incredibly valuable, especially in hockey where momentum and crowd energy can swing games quickly. Colorado and Carolina both benefit from that edge, and both have been extremely difficult to beat on home ice this season.

For the road teams, however, the formula becomes fairly simple. If the Vegas Golden Knights or the Montreal Canadiens can steal one of the opening two games on the road, the complexion of each series changes dramatically. Returning home tied 1-1 would immediately shift pressure back onto the favorites and give those underdogs a huge opportunity to regain momentum in front of their home crowds.

While there is clearly a strong expectation from sportsbooks that Colorado and Carolina will ultimately advance, there is still intriguing value attached to both Vegas and Montreal at their current prices. Vegas has already proven throughout recent years that playoff experience matters tremendously, while Montreal continues to play with confidence after surviving two emotionally charged seven-game series.

At this point in the postseason, momentum can change quickly, and one overtime goal or one standout goaltending performance can completely reshape an entire series. That’s what makes the value on the underdogs particularly interesting heading into the Conference Finals.