Benzinga - by Chris Katje, Benzinga Staff Writer.
The 2024 Stanley Cup Playoffs will determine which team wins the championship for this season among the National Hockey League (NHL) teams.
One of the key storylines for the NHL Playoffs remains a long-running drought for Canadian teams.
What Happened: Hockey is well-known as one of the most loved sports in Canada, but when it comes to winning the Stanley Cup, the country hasn't had much recent success.
The Montreal Canadiens are the last Canadian hockey team to win the Stanley Cup, which came back in the 1992-1993 NHL season.
Of the 32 NHL teams, seven are home to Canada. For the 2023-2024 NHL Playoffs, four of the 16 teams are from Canada, giving the country a 25% chance of winning a Stanley Cup.
Here are the betting odds from DraftKings Inc (NASDAQ:DKNG) for the top teams.
- Carolina Hurricanes: +650
- Florida Panthers: +700
- Colorado Avalanche: +700
- Edmonton Oilers: +750
Around 75% of the current NHL players were not born the last time a Canadian team won a Stanley Cup, according to ESPN. About 3% of NHL players today were five years old or older and likely able to remember a Canadian team winning the cup.
Since the Canadiens won the Stanley Cup in 1993, there have been 15 U.S teams to win the championship.
History shows that Canadian teams still rank among the all-time best in NHL and Stanley Cup history. The Canadiens rank first with 23 Stanley Cup wins. Ranking second is also a Canadian team with the Maple Leafs winning 13 Stanley Cups. The Oilers rank sixth all-time with five Stanley Cup wins.
Related Link: Why Madison Square Shares Are Rising Despite Playing Fewer Knicks And Rangers Games In Q2
Public Sports Team: There are a limited number of publicly traded sports teams across North American professional sports and soccer teams.
One of these public companies owns a team in both the NHL Playoffs and the NBA Playoffs. We're talking of course about Madison Square Garden Sports (NYSE:MSGS), which owns the New York Rangers and the New York Knicks.
The Rangers won the President's Trophy as the team in the NHL with the most points won in the regular season. This doesn't guarantee postseason success as it has been more than 10 years since the President's Trophy winner took home a Stanley Cup (Chicago Blackhawks, 2012-2013 season).
The 2023-2024 season saw the Rangers end with a 55-23-4 record, including a tied for league best 30 wins at home, which could be a key factor as the home team in the NHL Playoffs.
The Rangers have odds of +800 to win the Stanley Cup, which ranks fifth overall. The team last won the Stanley Cup in 1994.
Over the last 10 seasons, the Rangers have made the NHL Playoffs seven times, but had several early exits. The team lost in the 2014 Stanley Cup Finals.
The Knicks earned the number two seed for the Eastern Conference and enter the NBA Playoffs with odds of +4,000 to win the NBA Championship, ranked 11th of all teams at DraftKings. The Boston Celtics (+155) and Denver Nuggets (+280) are the heavy favorites with all other teams having odds of +1,200 or worse to win.
The Knicks have made the NBA Playoffs in only three of the last 10 seasons, but come into the 2024 Playoffs with higher expectations. The team lost in the conference semifinals last year and lost in the first round in 2021.
The Knicks last NBA Championship came in 1973, but the team made it back to the NBA Finals in 1994 and 1999.
Madison Square Garden Sports will be a stock to watch during the NBA and NHL Playoffs as deep runs by either or both teams could benefit the company financially.
Bettors looking to bet on the success of the Rangers and Knicks can also parlay both teams reaching the finals at +6,400. A bet of the Knicks and Rangers to both win championships in 2024 pays out at odds of +36,800, turning a $100 bet into a potential profit of $36,800.
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