Olympic hockey betting is about to move front and center as the Milano-Cortina Games arrive with a true best-on-best field for the first time since 2014. Canada, the United States, Sweden, Finland, and Czechia sit at the heart of the gold-medal conversation, and betting markets already reflect a clear pecking order among that group.
This surge comes as NFL wagering peaks, with the Super Bowl set for this coming weekend and sports fans quickly shifting attention from football betting with 1xBet and other operators to heavier hockey and basketball action. Olympic hockey will benefit directly from that carryover, with futures markets and game lines expected to see sharp handle from both casual and seasoned bettors. The structure is simple: one tournament, 12 nations, and a familiar question at the top of the board—can anyone knock off Canada and Team USA?
The presence of NHL stars dramatically changes the betting profile this year. Previous tournaments in 2018 and 2022 excluded NHL players, which opened the door for Russia’s Olympic athletes and then Finland to win gold behind deeper non-NHL systems. This time, legalized betting markets across North America and Europe are hanging prices assuming full NHL participation, and those rosters drive the odds as much as historical pedigree.
Canada: The Clear Favorite Again
Canada enters as the market favorite to win men’s gold, with several major sportsbooks listing the Canadians in the low plus-money range around +120 to +135 to stand atop the podium. Canada’s implied probability often sits in the low-40s percentage range, separating them from the rest of the field in many futures boards. That gap reflects both elite talent and institutional success in short tournaments.
On paper, Canada can roll out a center depth chart featuring Connor McDavid and Nathan MacKinnon at the top, supported by a wave of other front-line NHL forwards playing in their natural positions. A veteran presence, including names like Sidney Crosby in a reduced but still influential role, brings Olympic and Stanley Cup experience that sportsbooks weigh heavily when setting futures numbers. The blue line and goaltending do not project as weaknesses, which is why traders and oddsmakers consistently keep Canada alone in the top spot.
USA: Primary Challenger With Short Odds
Team USA sits second in most markets, typically priced around +200 to +245 to win gold. That range signals a real threat to Canada, but also recognizes that the Americans have more to prove at the Olympic level. The current pricing implies a chance in the high-20s or low-30s, depending on the book and any recent line movement.
The United States roster leans on a deep forward group highlighted by the Hughes and Tkachuk brothers, among others, and backed by high-end NHL goaltending options such as Connor Hellebuyck. Bettors who prefer the Americans often cite their net upside and the explosiveness of their top-six forwards in single-elimination play. The drawback is a lack of recent Olympic success with NHL players and fewer skaters with prior Olympic gold experience, which narrows their margin for error compared to Canada.
Sweden: Strong Value in the Second Tier
Sweden leads the next tier of contenders, generally landing in the +550 to +600 range at many sportsbooks. That pricing places the Swedes a clear step below the North American powers, but still firmly inside the inner circle of realistic gold-medal candidates. The implied probability tends to sit in the low teens, positioning Sweden as the classic value play for bettors looking beyond the two favorites.
Sweden’s blue line is the backbone of its case. Names like Victor Hedman and other top-pair NHL defenders give the team a stabilizing presence in 5-on-5 play and on special teams. In goal, Sweden can turn to multiple NHL-caliber options capable of stealing a knockout game, an edge that matters in a tournament where one hot performance can tilt an entire bracket. The forward group may not feature as many marquee headliners as Canada or the USA, but it blends skill and two-way responsibility in a way that has historically translated well to international ice.
Finland: Defending Champions in a Different Field
Finland sits just behind Sweden on most boards, with prices commonly around +1100 to +1200 to repeat as Olympic champions. That drop in odds compared to 2022 speaks less to a decline in Finnish hockey and more to the shift back to NHL participation. Finland’s current implied probability usually hovers in the high single digits, placing the team in range as a live underdog with an established identity.
Finnish teams at every level are known for structured, defense-first hockey and strong special teams. Many of the projected Olympic forwards and defensemen either already play key roles in the NHL or are coming off top European seasons. For bettors, the appeal lies in Finland’s discipline and ability to grind down more talented rosters in tight, low-scoring games. The tradeoff is ceiling; in a field loaded with NHL stars, the Finns must execute their system almost perfectly to overcome the raw firepower of Canada and the United States.
Czechia and the Rest of the Field
Czechia rounds out the primary group of contenders, often priced between +1400 and +1600, depending on the operator. That range gives them a single-digit implied chance of winning gold, but their roster structure and goaltending depth keep them on the radar as a dangerous quarterfinal or semifinal opponent. Czech forwards and defensemen bring a mix of NHL and top European experience, and their power play can pose problems for any opponent when it gets rolling.
Beyond those five, the odds board stretches quickly. Switzerland frequently lands around +3500 to +4000, followed by teams such as Germany, Slovakia, Latvia, Denmark, France, and host nation Italy, at longer numbers ranging from roughly +7000 to +25000 and +75000. For most of these nations, a medal of any color would represent a massive upset outcome relative to their listed odds. Bettors usually target them in alternative markets such as group-stage upsets, regulation lines in specific games, or derivative player props rather than outright gold futures.
How Bettors Are Approaching the Market
With the tournament so close, handle is picking up across futures and individual game markets. Many bettors lock in a position on Canada or the United States early and then look to hedge or add exposure once the bracket is set and goaltending matchups become clearer. Others prefer to hunt for price drift, hoping Sweden, Finland, or Czechia start slow in group play, see their odds lengthen, and then rebound in the knockout rounds.
The return of NHL talent also affects totals and in-game markets. Sportsbooks expect higher skill levels to translate into more efficient power plays and fewer truly uneven matchups in the knockout stage. That can narrow spreads and shift attention toward moneyline and regulation win markets, especially when top goaltenders face off.
For now, the hierarchy is clear. Canada sits alone at the top, the United States presses as the closest challenger, Sweden and Finland anchor the value tier, and Czechia fronts a long list of outsiders hoping to crash the medal picture. As puck drop approaches in Milan and Super Bowl week winds down, Olympic hockey is set to become one of the most heavily wagered events on the winter calendar.
