As the NHL season progresses, Stanley Cup odds fluctuate based on team performance, injuries, and player trades. Sportsbooks analyze various factors, including win-loss records, player statistics, and historical trends, to set and adjust these odds. Favorites often emerge early in the season, but underdog teams can gain momentum, shifting the landscape as playoffs approach. Bettors closely monitor these changes, seeking value in potential dark horses or established contenders, making the race for the Cup as thrilling off the ice as it is on.