Want to get more Covers content? Add us as a preferred source on your Google account here.
The NHL Trade Deadline is officially done, with the 3 p.m. ET finish line now crossed, signalling that the sprint to the postseason is now underway.
Most of the big names reportedly available did not move, but there were still some notable deals made by Stanley Cup odds contenders — and my 2026 NHL Trade Deadline tracker features betting analysis of the most notable deals, and how NHL betting odds were affected by each trade.
Trade deadline at a glance
Notable completed trades in 2026
*Conditional draft pick
Stanley Cup odds favorites
| Team |  |
|---|
 Avalanche | +280 |
 Lightning | +370 |
 Hurricanes | +550 |
 Golden Knights | +800 |
 Oilers | +1050 |
Latest 2026 NHL Trade Deadline tracker
Trade: 
acquire D Justin Faulk from 
for Justin Holl, an undisclosed first-round pick, and an undisclosed third-round pick
The betting shift: Steve Yzerman gets off his hands and still fails at the deadline by not getting a center to replace Andrew Copp as C2. However, their odds to make the playoffs went from -300 to -550 week-on-week, but a likely date vs the Sabres or Bolts is a tough task for an inconsistent offense that added to a strength in the Faulk trade. Only one of the Red Wings, Penguins, Islanders, Canadiens, Blue Jackets, or Bruins is going to miss the playoffs, and I think the Islanders are the team that does.
MoneyPuck has Detroit as an 82% favorite to make the playoffs.
Trade analysis: Detroit added to its defense depth with the addition of a veteran in Faulk. However, this team's issues are on offense and center depth, as Andrew Copp should not be the center of the best line. This team has been saved by the play of John Gibson and will struggle to beat Buffalo, Tampa, and/or Carolina. They are not a player in the East. Faulk helps, but it is not enough.
Trade: 
acquire F Bobby McMann from 
for a 2027 second-round pick, and a 2026 fourth-round pick
The betting shift: The Seattle Kraken, currently clinging to the last spot in the West, get off their hands and spend very little on Bobby McMann, who can fit into the middle-six for the Kraken, who lack top-end talent. Seattle is +185 to make the playoffs and is three points up on the Sharks, who have two games in hand.
MoneyPuck has Seattle as a 60% favorite to make the playoffs, which is well off their 35.1% implied probability from the +185 price. I think Seattle is a buy at this price. They only have to worry about the Sharks, as the Kings and Predators have been selling off.
Trade analysis: Seattle is in a bad spot, likely facing the Avs in the first round, and Bobby McMann is a 29-year-old rental that will likely need $5 million AAV in the offseason to retain. This team will struggle to attract top talent, and McMann has a middle-six ceiling.
Trade: acquire F Corey Perry from 
for an undisclosed second-round pick
The betting shift: The Tampa Bay Lightning finally make a move, reuniting with Corey Perry for a second-round pick. This isn't an odds mover, but Tampa has moved from +400 outright to +420 week-on-week. The move is because the Sabres are closing in on the No.1 seed in the Atlantic. The Bolts are currently -330 to win the division, but were -900 just on Tuesday.
Trade analysis: The top-heavy Lightning need to be scared of the surging Buffalo Sabres, who are tied with the Bolts for the first spot in the Atlantic, but Tampa has played two fewer games. This trade was needed as the already thin middle-scoring of the Lightning is injured, and Perry can fit a role in a system he knows very well.
Since 2020, Perry has lost five times in the Stanley Cup playoffs, including once with the Lightning in 2022. Buffalo is the better playoff roster, in my opinion.
Trade: 
acquire F Bobby Brink from 
for D David Jiricek
The betting shift: The Wild have been stuck on +1,800 to win the Cup for a week. It's a tough spot for them as their first-round opponent is likely the Dallas Stars, who have also gotten better. They are 10/1 to win the division, currently, and the fourth-shortest odds to win the West at +850. I'd still prefer the Stars at the same prices, especially with Dallas projected to get home ice in Round 1.
Trade analysis: Bobby Brink is a great winger for the Wild, who currently have Vladimir Tarasenko in the LW2 spot with Marcus Johansson injured. He could find himself on a great line with Matt Boldy and Joel Eriksson Ek. The Wild still need a No.1 center before I would consider them a better team than the Stars.
Brink's role in Philadelphia was second line and PP1, so his absence will be filled with someone who will likely be priced incorrectly for a point. Denver Barkey might be getting some key offensive minutes down the stretch for the Flyers.
David Jiricek is a former sixth-overall pick in 2022 who is on his third team and has been pointless this year in 25 games. His window for relevance is closing quickly, but there is room for minutes in Philadelphia, especially if Rasmus Ristolainen is shipped out of town.
Trade: 
acquire D John Carlson from 
for a 2026 first-round pick* and a 2027 third-round pick
The betting shift: The Anaheim Ducks make a splash and shock the hockey world, and John Carlson, overnight. Anaheim moves to +240 from +290 on Tuesday to win the division and a lengthy +7,000 to win the Cup, the same price as the Capitals, who move to -310 to miss the playoffs from -190 a week ago. Head coach Joel Quenville has slid to +3,300 to win coach of the year, but beating Lindy Ruff is going to be tough to do.
Trade analysis: The Ducks add a potential rental to run a struggling PP1, but the Capitals' power play has been one of the worst units all season. The Ducks also have plenty of offensive-minded defensemen like Jackson LaCombe and Pavel Mintyukov. The real addition here is Cup-winning experience and leadership that Carlson brings, and will help a younger forward group.
I still like Edmonton to take the division at a better price, and if Anaheim hosted the Oilers in the first round, I would have Edmonton as the favorite in the series. The Ducks are a well-constructed roster, but they haven't been together long, nor had playoff adversity/experience together. That 70/1 price should be a little shorter, though, as MoneyPuck has them at 2.6% to win the Cup, which is a true price of +3,746.
The Capitals are just four points out of a playoff spot and apparently aren't giving up on the season. It's tough to believe when you rip out the biggest leader on that team and replace him with nothing that will be coming through the door this weekend. Give the Caps front office credit, though; they shipped Carlson off instead of getting nothing for him.
Trade: 
acquire D Logan Stanley and D Luke Schenn from 
for D Jacob Bryson, F Isak Rosen, a 2027 second-round pick, and a 2026 fourth-round pick
Trade: acquire F Sam Carrick from 
for a 2026 third-round pick and a 2026 sixth-round pick
The betting shift: Let's go Buffalo. The Sabres shore up some center depth and add to one of the best bluelines in hockey. Buffalo has moved from +2,500 to +2,200 this week for the Cup, and that's down from +3,300 last week at this time. The Sabres can push the top teams in the East and are currently tied with the Bolts for the division lead. They're +380 to win the division, down from +1,400 on Tuesday.
Trade analysis: The Sabres move on from the failed Colton Parayko trade and add a pair of opposite-handed D-men who can play tough minutes, with Logan Stanley having decent offensive upside. They have taken the same path as the Stars and Avalanche and have loaded up on the blueline with seven NHL starters. I'm buying Buffalo for the division right now, but the price is dropping. They can beat the Canes and Bolts. I love the Sabres, and they could still upgrade that top line and replace Peyton Krebs with over $5m in space. It's Buffalo in the East and Dallas/Edmonton in the West for me.
Trade: 
acquire F Conor Garland from 
for a 2028 second-round pick and a 2026 third-round pick
The betting shift: Columbus is one point out of a playoff spot, and Montreal, Pittsburgh, the Islanders, and Boston are falling. The Blue Jackets were +165 to make the playoffs one week ago. Bettors have missed the bus on the BJ's odds, but betting on one of the teams mentioned above to miss the playoffs at plus-money is the better look. The Islanders and Penguins at +200 each stand out.
Trade analysis: Conor Garland doesn't have a clear role immediately, as Boone Jenner is back and Mathieu Olivier has played well on the right side with Charlie Coyle. His six-year $36m contract kicks in next year. His ceiling is likely 60 points, and he could shine in the playoffs as a gritty forward who plays bigger than he is.
Trade: 
acquire F Warren Foegele and a 2026 third-round pick* from for a 2026 second-round pick and a 2026 third-round pick*
The betting shift: Ottawa is four points out of the final playoff spot and is currently +120 (45.5%) to make the playoffs, with MoneyPuck putting them at 44.9%. The Sens have the 12th-most difficult schedule down the stretch.
Trade analysis: Warren Foegele is under contract for one more season at $3.5m, and the winger could fit on any of the top three lines in Ottawa with Claude Giroux, Michael Amadio, and Ridley Greig all playing on the right side. It's an improvement, but one that isn't moving the betting needle. Having him for a full season next year is a bonus because he can contribute in a middle-six role.
Trade: 
acquire F Michael Bunting from 
for a 2026 third-round pick
The betting shift: The Stars have slowly crept up to +1,700 to win it all, and the additions of Michael Bunting for bottom-six depth and Tyler Myers for a third pair have made this team better. They are six points out of first and will likely play host to the Wild, but this is a team that I'm buying in the West.
Trade analysis: Bunting will help a team that has little depth on their third line right now with injuries, and the pesky forward will step right in to that role. He is a good agitator and draws penalties. I like him more than Nic Roy at a better price, but Bunting is a rental. Nashville is still winning and three points out of playoff spot while its front office is selling everything.
Trade: acquire F Nick Roy from for a 2027 first-round pick and a 2026 fifth-round pick
The betting shift: The Avalanche are not going to get shorter on their already paper-thing +280 odds to win the Cup. It does make them a deeper team down the middle without subtracting from their current lineup, and if you want to bet on the Avs in any market, I'd wait until Friday night, as it's going to be tough for their odds to get much shorter than they already are.
Trade analysis: The Leafs pull off a big win, and the Avs get some center depth that was desperately needed, and something they might have been willing to overspend on. I think it's too much. Roy was pretty unnoticeable with decent minutes (14+ per game) and had 20 points in 59 games. He will not be missed in Toronto, but maybe Colorado has a better plan for him than Craig Berube did. The Avs have gotten deeper at center and on the blueline, but might still be in the market for a top-six winger with over $6 million in current cap space.
Trade: acquire F Jason Dickinson (50% retained) and F Colton Dach from 
for F Andrew Mangiapane and a conditional 2027 first-round pick
The betting shift: The Oilers were sitting at +500 to win the division, down from +700 after the Connor Murphy trade, while their +1,100 outright odds remain unchanged. I'm still a buyer of the Oilers as the Golden Knights are going to blow the division.
Trade analysis: Edmonton picked up a shutdown center in Jason Dickinson while getting 50% of his salary retained. It's not a goalie, but the additions of Murphy and Dickinson make this a better defensive team. Colton Dach might struggle to be an everyday player, but there is some upside hidden in there. The Pacific division is still up for grabs.
The Oilers are not left with much cap space and will have to get creative if they want to bring in more bodies.
The Hawks are stockpiling picks, which I'm sure is pissing off Connor Bedard.
Trade: acquire D Nick Blankenburg from for a 2027 fifth-round pick
The betting shift: The Colorado Avalanche can't get any shorter on their Cup outright odds at +280. It's a silly number considering how hard it is to win 16 games in the NHL playoffs while avoiding bad variance and injuries. They are +150 to win the West and -4,000 to win their division. I'd love for them to make one more move, have the market shift, and bet against them. I already love the current Stars and Oilers prices.
Trade analysis: How do the Calgary Flames end up selling to acquire MacKenzie Weegar, while the Colorado Avalanche land an offensive defenseman like Nick Blankenburg for just a fifth-round pick?
Blankenburg is having a career year with 21 points in 49 games and can contribute on the power play. Though undersized at 5-foot-9, he can comfortably handle third-pair minutes while providing offensive upside.
Colorado now boasts impressive blue-line depth for a potential playoff run, with Brett Kulak, Sam Malinski, and Blankenburg available to fill the bottom pair.
Trade: 
acquire D MacKenzie Weegar from 
for D Olli Maatta, C Jonathan Castagna, and three 2026 second-round picks
The betting shift: Utah entered Wednesday sitting 7th in the West, one point up on the Kraken, four points clear of the ninth-place Sharks, and miles back of the Wild for the third spot in the Central. They are -650 to make the playoffs compared to +120 for Seattle, which is tough to swallow considering Seattle is a point behind with a game in hand.
This trade could move that playoff market far enough where fading them might be the better option. Moneypuck has them at 85% probable to make the playoffs (-554). Outside of that market, I want nothing to do with them to win the West or the Cup.
Trade analysis: The Mammoth have added a right-shot defenseman who brings strong offensive value but can be inconsistent in his own zone. His arrival likely pushes John Marino out of a top-four role — a move that probably strengthens the overall structure. With Ian Cole and Marino outside the top four, Utah suddenly has impressive blue-line depth for a potential playoff push.
It’s remarkable what this team has accomplished this year, but winning four playoff games still feels unlikely — unless the Vegas Golden Knights continue to struggle while holding the top spot in the Pacific.
Their playoff price was already inflated, and this move may push it even higher, making a fade down the stretch the sharper angle.
MacKenzie Weegar is owed $6.25 million annually through the 2030–31 season. Jonathan Castagna has more than a point per game at Cornell this year in his third year there after being a third-round selection in 2023. It's a massive haul for Calgary for a D-man in a down season.
Trade: acquire D Tyler Myers from for a 2027 second-round pick, a 2029 fourth-round pick, and 50% salary retention
The betting shift: The Dallas Stars started the day at +1,800 to win the Cup, +850 to win the West, and +2500 to win the division. Although a bottom-pairing D-man might not move these lines, I do believe the market is too low on the Stars, who are in the same tier as the Avs for me. It's a good time to jump on Dallas futures, IMO.
Trade analysis: The Stars are the No.1 team in hockey in xGF% over the last 25 games, with the Avalanche ranking 10th. This is one of the best teams in hockey that has been incredible on the backend and just got better and didn't give up anything on the roster.
They are winning without Mikko Rantanen and Roope Hintz, with the former expected back sometime in March. It's not a blockbuster, but it's a positive trade for arguably one of the best teams in hockey that has plenty of playoff experience. I'm buying the Oilers, and I'm buying the Stars in the West.
Trade: acquire C Michael McCarron from for a 2028 second-round pick
The betting shift: The Minnesota Wild's outright price moved from +1,800 to +1,700 overnight, but that had everything to do with their win over the Lightning, more so than adding a fourth-line center.
Trade analysis: The Wild are not a serious team until they shore up their center position, as Ryan Hartman is not a No.1 center. Adding some depth is a great first step, but the second-round price seems a little steep and could mean teams have to overspend on the top-line centers available.
The Wild are still a major trade away from being considered in the same breath as the Avs and Stars.
Trade: acquire D Connor Murphy from for a 2028 second-round pick and 50% salary retention
The betting shift: The Edmonton Oilers' outright price moved from +1200 to +1100 following the trade, but their divisional outright stayed put at +700
Trade analysis: Everyone knew the Oilers needed goaltending, but bolstering the blue line at a reasonable cost with a right-shot, stay-at-home defenseman to pair with Darnell Nurse is a strong move. It addresses a key structural need and should pay dividends once they solidify the crease.
With one or two more additions, this roster is capable of getting back to the Finals. If Edmonton continues to improve, I’ll be looking to add more Connor McDavid MVP exposure and take a position on them to win the Pacific at +700.
Top targets that did not move at the NHL Trade Deadline
- Robert Thomas (STL): Young, legitimate top-two center signed long term with a no-trade clause.
- Vincent Trochek (NYR): Adds strong depth down the middle. Excellent in the faceoff circle and reliable on the penalty kill.
- Jordan Binnington (STL): His club numbers this season have been underwhelming, and I wouldn’t price him purely off his Team Canada performance.
- Steven Stamkos (NAS): Trending upward in 2026.
Popular NHL futures markets
How to bet the NHL Trade Deadline
- Fading the "New Arrival" Bump
Don't be surprised if a brand-name player doesn't stuff the statsheet on his first day with a new club. There is an adjustment period, and waiting a couple of games might bring the best value before backing them.
- Player Prop Hunting
Players moving to better teams might not have the same role they had previously. If a player goes from a top-line role and PP1 to line two and PP2, his prop projections should drop. Usage is everything.
- The "Addition by Subtraction" Angle
Winning for bad teams is not rewarded at this time of the year. If a team is in the market to move a key player, beating the books to some point totals and/or other future markets can be profitable. Everyone wants to bet the Over on teams making additions, but don't forget about the subtractions.
- Open opportunities: There will always be more eyes (and bets) on the big-name player moving to another team in the prop market, but, like above, don't forget what the subtraction will do to the lesser team, which will likely have to fill key roles with new names. Find those names.
Not intended for use in MA.
Affiliate Disclosure: Our team of experts has thoroughly researched and handpicked each product that appears on our website. We may receive compensation if you sign up through our links.
This article originally appeared on Covers.com, read the full article here and view our best betting sites or check out our top sportsbook promos.
Bruins
Islanders
Penguins
Sharks
Panthers
Devils
