Olympic hockey betting odds: Canada favored to win men's gold, USA favored to win women's

The NHL will take center stage at the 2026 Winter Olympics for the first time since 2014, as star-studded rosters featuring Nathan MacKinnon, Jack Eichel and more head to Milan Cortina. In the men’s ice hockey competition, Canada will head in as the favorites to win its first gold medal since 2014. Sidney Crosby, at age 38, will look to win his third gold medal for Team Canada as the only holdover from the 2014 team.

In 2018, the gold medal went to the Olympic athletes from Russia, while Finland stood supreme in 2022, both years in which NHL players did not join the rosters. Russia will not participate in the 2026 tournament.

The United States team, with the Hughes brothers, the Tkachuk brothers plus Connor Hellebuyck in net, will look to claim their first medal since 2010 when they won silver. They are currently +200, behind Canada but slightly ahead of Sweden, Finland and Czechia.

Leon Draisaitl will take his dominant goal-scoring touch (which has him ranked No. 4 in ESPN Fantasy Hockey) to the German national team. Host nation Italy is 400-1.

The men’s Olympic ice hockey tournament begins Feb. 11, and the gold medal game is Feb. 22.

Men’s 2026 Olympics odds

Team

Gold

Group

To medal

Canada

+120

-475

-575

USA

+175

-1100

-400

Sweden

+600

-155

-185

Finland

10-1

+140

+130

Switzerland

25-1

+700

+450

Czechia

25-1

+600

+350

Slovakia

65-1

16-1

10-1

Germany

65-1

+800

10-1

Denmark

250-1

50-1

22-1

Latvia

500-1

35-1

22-1

France

800-1

500-1

65-1

Italy

1000-1

500-1

100-1

More: X-factors for each team | Ranking every NHL player in the Olympics

Women’s Olympic ice hockey tournament

Hilary Knight had six goals and four assists in ten games during the 2022 Olympics. Bruce Bennett/Getty Images

North American rivals, the United States and Canada, have combined to win every women’s Olympic ice hockey gold medal since the sport was added in 1998. The odds reflect that history of dominance, as the USA squad sits at -120 and the Canadian team at -105.

American captain Hilary Knight will participate in her fifth and final Olympics. The 2025 PWHL points leader will look to win her second gold medal and first for the team since 2018. Laila Edwards, from the defending NCAA champion Wisconsin Badgers, will make her Olympic debut for the Americans. Edwards was named the MVP at the 2024 IIHF Women’s World Championship. Abbey Murphy is projected for a big role on Team USA in her first Olympic Games.

Captain Marie-Philip Poulin will look to add to her collection of gold medals for Team Canada. Poulin scored the gold medal-winning goal in three of the four Olympic finals in which she participated. Canada is in the same group with Czechia, Finland, Switzerland and the United States.

USA and Canada will close out the group stage against each other on Feb. 12 at 2:10 p.m. ET.

The United States won its first game 5-1 over Czechia and followed it up with a 5-0 win over Finland on Saturday. Meanwhile, Canada’s first game against Finland was postponed due to illness on the Finland squad. Canada, a 5.5-goal favorite over Switzerland on Saturday, won 4-0.