It’s hard to call a season a rebuild for a team that just went to the Stanley Cup Finals in back-to-back seasons, yet here the Oilers are with a new coach and a very different roster. 

After failing to get out of the first round of the NHL playoffs, Edmonton decided it was time for a new direction. Another season without a Stanley Cup for a team that boasts two of the best players in the world has to be deemed a disappointment, if not a failure. 

This year, with Connor McDavid and Leon Draisaitl still leading the way, the Oilers will look to return to their winning ways. Despite being a perennial Stanley Cup contender at Canadian sportsbooks, Canadian bettors continue to be disappointed in the end. Will this year be different for the Oilers? Here’s a look at how the betting markets are viewing the Oilers ahead of the start of the season. 

2025-26 Edmonton Oilers Season Recap

It wasn’t a dominant regular season by any stretch of the imagination, but it was good enough to see the Oilers finish second in the Pacific Division with a record of 41-30-11 and 93 points. 

Edmonton scored 282 goals, which was sixth-best in the league, but offence has never been the issue. Goaltending and defence continued to be the problem as the Oilers allowed 265 goals, which was 25th of the 32 NHL franchises. That shortcoming cost them again in the first round of the Stanley Cup Playoffs, when the Oilers lost to the Anaheim Ducks in six games. 

After reaching the Stanley Cup Finals in the two years prior, the early exit from the playoffs shocked the Oilers. It was also another lost year for McDavid and Draisaitl, who have grown increasingly impatient with the team’s inability to get over the hump. Head coach Kris Knoblauch was fired at the end of the season and replaced by new head coach Mike Babcock. 

What Is Different for the Oilers in 2026-27?

Having Babcock behind the bench is a major change to the culture of the Oilers. Babcock brings with him over 1,500 games of experience, along with a Stanley Cup ring to the City of Champions. 

The roster has also undergone significant changes in the offseason. 

The Oilers traded longtime defenceman Darnell Nurse to the San Jose Sharks, then signed Ryan Shea to a five-year contract as his replacement. Edmonton also addressed its problems between the pipes after acquiring 24-year-old Devon Levi from Buffalo and signing veteran Frederik Andersen to a one-year deal. The Oilers still have last year’s starter Tristan Jarry under contract, giving the team plenty of options ahead of the start of the season. 

Edmonton Oilers 2026-2027 Betting Markets

Despite the changes in the offseason, the Oilers still have McDavid and Draisaitl and are still considered one of the top contenders for the Stanley Cup. You won’t find much of a discount on Oilers futures bets, as they are still usually in the top five on the odds board. 

The Oilers are a good team to bet on markets like regular-season win totals or individual player performances. Depending on the sportsbook, the Oilers are also the betting favourites to win the Pacific Division this year, ahead of the Las Vegas Golden Knights and San Jose Sharks. 

Another interesting market is Mike Babcock winning the Jack Adams Trophy as the NHL’s top head coach.

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Feature image courtesy AP Photo/Karl DeBlaker vis Canadian Press Images
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FAQs

1 Are the Edmonton Oilers Stanley Cup contenders in 2026-27?

Yes. McDavid and Draisaitl give Edmonton elite offensive firepower along with a revamped defensive group and new options between the pipes. Edmonton also brought in head coach Mike Babcock, who has previously won a Stanley Cup.

2 Who is the new Edmonton Oilers head coach?

Mike Babcock is the Oilers’ new head coach for the 2026-27 season. He replaces Kris Knoblauch, who was dismissed following Edmonton’s first-round playoff exit. Babcock previously won the Stanley Cup with the Detroit Red Wings in 2008.

3 What are the biggest betting questions for the Oilers in 2026-27?

The biggest question is whether Edmonton can improve defensively and in goal. The Oilers scored 282 goals last season but allowed 265, making defensive consistency a key factor for bettors evaluating Edmonton’s futures, game lines and player props.