The Colorado Avalanche will head into the Stanley Cup playoffs as the +300 favorites to win it all, followed by the Carolina Hurricanes and Tampa Bay Lightning at +475 and +500, respectively. The Dallas Stars and Vegas Golden Knights round out the top five at 10-1, and the latter is one of the more intriguing teams on the board in the eyes of bookmakers.
Caesars Sportsbook lead hockey trader Karry Shreeve told ESPN that although he doesn't rank the Golden Knights as highly in power ratings, their very positive momentum and potential matchup with a team from the historically bad Pacific Division give them a clear path to the Western Conference finals. Vegas moved from 11-1 to 10-1 for the NHL's championship in the past week.
As far as liability goes, there's not a whole lot of concern for sportsbooks surrounding the favorites, as bettors have been much more keen on exciting underdogs at longer odds. At the top of that list are the Buffalo Sabres, who ended a record 14-year playoff drought in style by winning the Atlantic Division and enter the fray with 14-1 odds to hoist the Cup after entering the season around 150-1.
BetMGM reports the Pittsburgh Penguins (25-1 at DraftKings) as its largest remaining liability in the Stanley Cup market, and DraftKings notes that the Penguins' cross-state rival, the Philadelphia Flyers (70-1), are a "staple in the future book." The Ottawa Senators (13-1), Minnesota Wild (18-1) and Boston Bruins (55-1) have also received some bettor attention, according to bookmakers.
All odds provided by DraftKings Sportsbook 
and are accurate as of publish time.
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Conn Smythe Trophy odds leaderboard
Nathan MacKinnon, Avalanche +650
Nikita Kucherov, Lightning +1100
Cale Makar, Avalanche +1200
Connor McDavid, Oilers +1500
Andrei Vasilevskiy, Lightning +1800
Seth Jarvis, Hurricanes +2000
Martin Necas, Avalanche +2000
Sebastian Aho, Hurricanes +2200
Jack Eichel, Golden Knights +2800
Andrei Svechnikov, Hurricanes +3000
Mitch Marner, Golden Knights +3500
Mikko Rantanen, Stars +3500
Jake Oettinger, Stars +3500
Jake Guentzel, Lightning +3500
Brady Tkachuk, Senators +4000
Wyatt Johnston, Stars +4000
Rasmus Dahlin, Sabres +4000
Nikolaj Ehlers, Hurricanes +4000
Mark Stone, Golden Knights +4000
Leon Draisaitl, Oilers +4000
Jason Robertson, Stars +4000
Tage Thompson, Sabres +4500
Sidney Crosby, Penguins +4500
Linus Ullmark, Senators +4500
Tim Stutzle, Senators +5000