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With the NHL’s regular season quickly approaching, it’s time to look ahead to who the favorites are in 2022 Stanley Cup odds.

The defending champion Tampa Bay Lightning (+550) are not favored to win it all again for the third straight year – Tampa is second in 2022 Stanley Cup odds behind the Colorado Avalanche (+450). The Vegas Golden Knights (+700), Toronto Maple Leafs (+1100) and Boston Bruins (+1400) round out the top five.

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Here’s a look at the Stanley Cup odds for all 32 teams that will vie to win it all in the 2022 campaign.

2022 Stanley Cup Odds

Stanley Cup Odds: Value Bets

New York Islanders (+1900)

The New York Islanders took the eventual champion Lightning to Game 7 in the playoff semifinals last season, a game they lost 1-0. They have a locked-in core of forwards, an elite head coach, a promising young goaltender and a front office that understands how to build a team within a structure with proven playoff success.

The Islanders also played the entire playoffs without Anders Lee, their captain and best pure goal scorer. At +1900, the Isles are underrated on this board and have just as good a shot as anyone to reach the pinnacle of hockey this season. They aren’t the most exciting team, but neither were the Canadiens, who made it one step further than New York with a similar formula.

Florida Panthers (+2000)

Tied for eighth in Stanley Cup odds, oddsmakers obviously believe the Panthers should be respected as a legitimate contender.

However, we think that ranking is a little low, making +2000 odds a value.

Florida had a stacked roster last year and finished on a 115-point pace without their top defenceman, Aaron Ekblad, for much of the season.

This year, they get Ekblad back and added forward Sam Reinhart from Buffalo. Reinhart has scored 20 or more goals in five of his six NHL seasons and is a great under-the-radar addition to a top-six forward group already featuring Aleksander Barkov, Jonathan Huberdeau and Carter Verhaeghe. The Panthers did lose Alexander Wennberg in expansion but are plenty deep at forward with young top picks like Owen Tippett and Anton Lundell waiting in the wings.

The goaltending is a bit of a question mark as you never know what you might get out of Sergei Bobrovsky. But Florida does have recent first-round pick Spencer Knight seemingly ready to break through if Bobrovsky falters.

Florida does play in a tough division and it would not be surprising to see them end up in a wild-card spot, but this is one of the best rosters in the league with much more attractive odds than the other teams in the Atlantic.

Winnipeg Jets (+4000)

The Jets are a solid long-shot bet as one of the few teams in the NHL with both elite scoring talent up front and top-notch goaltending.

With a foursome of Mark Scheifele, Nikolaj Ehlers, Kyle Connor and Pierre-Luc Dubois carrying the load offensively, there are not many teams in the league that can match the star power the Jets possess. And with former Vezina winner Connor Hellebuyck in net, the Jets have the makings of a winning formula.

The problem for the Jets the last few seasons has been their inability to defend in front of their goalie. The Jets were swept by the Canadiens in the playoffs last season largely because their defense did not hold up against the Habs’ ferocious forecheck.

But the Jets added Nate Schmidt from Vancouver and Brenden Dillon from Washington to their back end and both should step into top-four roles right away. With those two, Dylan DeMelo, Josh Morrissey and Neal Pionk making up five of the six starters, the Jets roster suddenly looks far more complete than it did at the end of last year.

At +4000, the Jets’ Stanley Cup odds are certainly an attractive long-shot bet.