Canada and US Lead Gold Favourites for 2026 Winter Olympics Ice Hockey

Canada and USA lead the 2026 Winter Olympics ice hockey betting odds, with sportsbooks installing Canada as the -110 favourite to claim gold in Milan-Cortina.

The return of NHL players to the Olympic stage for the first time since 2014 has reshaped the market, tightening prices at the top and driving heavy action on the traditional North American powers.

The tournament begins on 11 February, and the gold medal market is already dominated by Canada and the United States. Canada's -110 price implies strong confidence from bookmakers, while the Americans sit at +190, leaving a significant gap to Sweden (+550) and Finland (+1300).

With star-studded rosters and renewed Olympic intensity, bettors are focusing on whether Canada's offensive firepower or the United States' depth and goal-tending edge will ultimately decide the gold.

Canada Sits Atop The Oddsboard

As per Odd Shark, Canada's -110 line reflects a roster loaded with elite talent across every position. Connor McDavid, Nathan MacKinnon and Macklin Celebrini, three of the top Hart Trophy contenders, headline an offence stacked with world-class scorers.

On the blue line, Cale Makar, the Norris Trophy favourite, anchors a defence built to move the puck quickly and generate chances from the back end.

Goal-tending remains the only potential concern. Jordan Binnington has posted a .867 save percentage and a 3.59 goals-against average this season.

However, the 32-year-old delivered clutch performances during last year's Four Nations Faceoff, and Canada has historically succeeded even without elite goal-tending statistics. That offensive depth continues to justify the short price at the top of the market.

USA Positioned As The Main Challenger

The United States enters at +190 and is widely viewed as Canada's primary rival. Auston Matthews and Jack Eichel provide elite scoring ability, while the Tkachuk brothers add physical presence and edge. The Americans also benefit from arguably the strongest goal-tending depth in the tournament.

Connor Hellebuyck, coming off a Vezina Trophy season, is expected to start, with Jake Oettinger and Jeremy Swayman available as reliable backups.

Despite leaving top scorers Jason Robertson and Cole Caufield off the roster, general manager Bill Guerin appears to have built the team around experience, size and defensive responsibility. That approach could prove valuable in the tighter, lower-scoring environment of Olympic play.

Sweden and Finland Round Out the Contenders

Behind the two North American favourites, Sweden sits at +550 to win gold. The Swedes boast one of the strongest defensive cores in the tournament, led by Rasmus Dahlin and Victor Hedman. Their balanced lineup and strong blue line make them a credible threat, particularly in knockout rounds.

Finland, the defending Olympic champions, is priced at +1300. However, the absence of Aleksander Barkov due to injury weakens their offensive depth. The Finns still possess a disciplined, structured style that has produced success in international tournaments, but the odds reflect the difficulty of repeating against deeper rosters.

Group Betting Markets Favour the Big Names

Canada is heavily favoured to win Group A at -425, ahead of Czechia (+600) and Switzerland (+750). With McDavid and MacKinnon leading the attack, bookmakers expect a comfortable path to the knockout stage.

Group B presents the tightest race, with Sweden at -160 and Finland close behind at +155. The defending champions' experience keeps the market competitive despite Barkov's absence.

Group C appears the most one-sided, with the United States at -900. Germany (+800), Latvia (+3500) and Denmark (+3500) are seen as long shots to top the group, reflecting the Americans' depth advantage.

Leading Scorer Markets Offers Value

In the leading scorer odds, Mikko Rantanen sits at +800, followed by Nathan MacKinnon at +1000 and Connor McDavid at +1200. MacKinnon has already surpassed 40 goals in just 53 games this season, while McDavid's slightly longer odds could present value for bettors expecting a dominant Canadian run.

Canada's position at the top of the odds also reflects recent Olympic success. The country has won three of the last four tournaments that featured NHL players and enters Milan-Cortina aiming for its fourth gold in the last 10 Winter Games.

The United States, despite its +190 price, has not won an Olympic hockey medal since the 2010 Vancouver Games. That drought adds extra intrigue to a market already shaped by the return of the NHL's biggest stars.