As the 2025 NHL playoffs reach the conference finals, the physical toll of postseason hockey is on full display. Injuries—both openly acknowledged and many shrouded in secrecy—have shaped the journey for each contender. With only the Florida Panthers, Carolina Hurricanes, Dallas Stars, and Edmonton Oilers remaining, the health of key players looms large over every game, influencing not just lineups but also the odds and strategies as teams vie for the Stanley Cup.
Injuries have profoundly impacted NHL odds, shaping the betting landscape and the perception of each contender’s chances. Oddsmakers have responded swiftly to every major injury update, with the odds to win the Cup and individual series shifting dramatically as key players’ health statuses are revealed or obscured. For example, the Dallas Stars, currently among the favorites with odds around +275, have seen their position strengthen not just due to their performance, but also as rivals like the Edmonton Oilers and Florida Panthers deal with injuries to cornerstone players. The Oilers, who sometimes have been slight favorites, face uncertainty with defenseman Mattias Ekholm’s extended absence and the lingering effects of injuries to superstars Connor McDavid and Leon Draisaitl. This has led to fluctuating odds, sometimes narrowing the gap between them and Dallas or Florida as the market reacts to the latest news.
The impact of injuries on odds is not limited to outright Cup futures. Game-to-game lines and series prices are also susceptible to player availability. When a star like Matthew Tkachuk of the Panthers is limited or absent, Florida’s odds to win individual games and the series lengthen, reflecting both the tangible loss of scoring and leadership and the psychological effect on the team. Conversely, when a key player returns or is rumored to be close to full strength, the odds can shorten quickly, as bettors and bookmakers anticipate a boost in performance. The Panthers, for instance, have seen their odds hover near +250, but these numbers are closely tied to the health of their top forwards and goaltender Sergei Bobrovsky, whose own Conn Smythe odds have improved as he’s stayed in the lineup.
The secrecy surrounding injuries in the playoffs adds another layer of volatility. Coaches and general managers are notoriously tight-lipped, often listing players as “day-to-day” or using vague terms like “upper-body injury,” which keeps opponents and oddsmakers guessing. This lack of transparency can lead to sharp swings in odds as rumors or sudden lineup changes emerge close to puck drop. For bettors and analysts, the challenge is to interpret incomplete information and anticipate how the absence—or diminished capacity—of a star might influence the outcome of a game or series in relation to the schedule. In such a competitive playoff field, even minor injuries can tip the balance, making managing player health a critical factor in both the quest for the Cup and the ever-evolving betting markets.
Florida Panthers
The reigning Stanley Cup champions have battled through adversity, not least due to injuries to their star forward Matthew Tkachuk. Tkachuk, a crucial offensive catalyst and emotional leader, was sidelined late in the regular season with a groin injury and placed on long-term injured reserve. His absence was felt in the opening round, but the Panthers managed to rally, erasing a 0-2 series deficit against the Toronto Maple Leafs to advance. Tkachuk has contributed key points upon his return, but questions remain about his full fitness as the playoffs grind on.
Florida’s depth has been tested, with role players like Carter Verhaeghe and Sam Reinhart stepping up offensively. The Panthers’ ability to generate secondary scoring and maintain their aggressive forecheck has helped offset the impact of injuries. Yet, the uncertainty around Tkachuk’s health continues to affect the team’s odds, making them a slight favorite over Carolina but far from a lock. The Panthers’ coaching staff and management have offered little detail on lingering injuries, keeping opponents guessing and fans anxious.
Carolina Hurricanes
The Hurricanes have reached the conference finals with a reputation for resilience, but not without their injury woes. Carolina’s blue line has been particularly vulnerable, with defensemen like Brett Pesce playing through a shoulder injury suffered in Game 1 of the previous round. While Pesce has not missed a game, his mobility and physicality have been visibly limited, forcing the Hurricanes to adjust their defensive pairings and rely more heavily on Jaccob Slavin and Brent Burns.
Jonas Siegenthaler, who returned from a lower-body injury late in the regular season, has also admitted he is not at full strength, but he is still working on regaining conditioning and power in his skating. The Hurricanes’ depth on defense has been crucial, but the cumulative effect of these injuries has made it harder for them to suppress top opposing forwards, as evidenced by their five-game series win over the Capitals, which featured several high-scoring affairs.
Carolina’s top-six forwards have remained mostly healthy, but the coaching staff has been characteristically tight-lipped about bumps and bruises. This lack of transparency is a strategic move, common among playoff teams, to avoid giving rivals any edge in game planning. The Hurricanes enter the conference finals as slight underdogs, with the market factoring in their defensive injuries and the heavy minutes being logged by their healthiest blue liners.
Dallas Stars
The Dallas Stars, now in their third consecutive Western Conference Final, have not been spared by the injury bug either. The most significant concern has been the status of Jason Robertson, their leading goal scorer. Robertson exited the final regular-season game with an injury and was listed as week-to-week. Although he returned for the playoffs, his production has been inconsistent, and he has not looked entirely comfortable on the ice. The Stars’ offense, which also features Tyler Seguin and Roope Hintz, has had to adapt, relying more on depth scoring from players like Evgenii Dadonov and recent acquisition Mikko Rantanen.
On the blue line, Dallas was scared when Miro Heiskanen missed time with an undisclosed injury. While he has since returned, the coaching staff has been vague about his condition, a typical playoff posture. The Stars’ defensive structure and goaltending have been solid, but the uncertainty around the health of their top players has led to fluctuating series odds. Coach Peter DeBoer has repeatedly deflected questions about injuries, emphasizing the team’s depth and “next man up” mentality.
Edmonton Oilers
Perhaps no team has been more affected by injuries to marquee players than the Edmonton Oilers. Both Connor McDavid and Leon Draisaitl, two of the league’s most dynamic forwards, have battled through injuries this postseason. McDavid, who left a critical late-season game with an apparent lower-body injury, has been the subject of intense speculation. The Oilers have refused to disclose specifics, with head coach Kris Knoblauch offering only generic statements about McDavid’s “day-to-day” status. McDavid remains among the playoff leaders in assists and points despite missing games, but his explosiveness has sometimes appeared diminished.
Leon Draisaitl, the league’s top goal scorer with 49 goals in the regular season, also missed time due to an illness and a nagging injury. His faceoff proficiency and power-play presence are irreplaceable, and the Oilers’ offense has suffered in his absence. Edmonton’s goaltending situation has been similarly fraught, with Stuart Skinner leaving a playoff game after a collision, raising concerns about concussion protocols and depth in net.
Mattias Ekholm, a key defensive piece, aggravated a lower-body injury and was ruled out for most of the playoffs, further straining Edmonton’s blue line. The Oilers have leaned heavily on depth players like Zach Hyman and Adam Henrique, but the lack of full health among their stars has made them underdogs against the high-flying Dallas Stars.
The Culture of Secrecy
As in the NHL postseason tradition, the four remaining teams have been highly guarded about player injuries. Coaches and general managers routinely cite “upper-body” or “lower-body” injuries without elaboration, and players are often listed as “day-to-day” regardless of severity. This culture of secrecy is rooted in the fear that opponents will target vulnerable players, but it also serves to maintain a psychological edge and keep fans and oddsmakers guessing.
The impact of injuries on game and series odds is significant. Sportsbooks adjust lines in real time based on reports and rumors, and the absence or diminished capacity of a star like McDavid or Tkachuk can swing odds dramatically. For bettors and analysts, parsing the truth from playoff injury reports has become an art form, with every pregame skate and lineup change scrutinized for clues.