Olympic Hockey Odds & Favorites: Who Will Win Gold at the 2026 Winter Olympics?

The 4 Nations Face-Off far exceeded everyone's expectations. It showcased the speed, physicality, and skill at which the world's elite play, and everyone with a semblance of national pride is clamoring for more best-on-best hockey. 

At least we won't have to wait over eight years for the next edition, with the 2026 Winter Olympics tournament occurring from Feb. 11 to Feb. 22.  

In our Olympic hockey odds and predictions, we feature and analyze the favorites and offer advice on the best underdog while preparing everyone for the next Canada vs. USA instalment. 

🏒 2026 Winter Olympic hockey odds

Canada (+175) opened as the favorite to win the 2026 Olympics, while the USA is right behind, trading at +225. The tournament is another best-on-best event, and it will take place in various cities across Italy from Feb. 11 to Feb. 22.  

🥇 Men's Olympic hockey odds

Here are the latest men's hockey odds via bet365 to win the 2026 Winter Olympics. Women's hockey odds are not yet available, though Canada and the USA are expected to open as favorites.

• Canada, +175 ($10 to win $17.50)
• USA, +225 ($10 to win $22.50)
• Finland, +500 ($10 to win $50)
• Sweden, +500 ($10 to win $50)
• Czechia, +1500 ($10 to win $150)
• Switzerland +2500 (+10 to win $250)
• Germany +6600 (+10 to win $660)
• Slovakia +8000 ($10 to win $800)
• Latvia +15000 ($10 to win $1500)
• Denmark +15000 ($10 to win $1500)
• France +25000 ($10 to win $2500)
• Italy +30000 ($10 to win $3000)

🏆 Early betting favorites to win 2026 Winter Olympic hockey tournament

While Canada is the favorite to win the hockey tournament in the 2026 Winter Olympics, the USA isn't far behind following those teams' overtime battle in the 4 Nations Face-Off final.

Here's a look at the early favorites to win in Milan with each nation's odds across our best sportsbooks:

🇨🇦 Canada (+175)

Winning four straight best-on-best international tournaments, Canada remains the preeminent hockey nation. Dating back to the 2002 Salt Lake City Olympics, Canada has won six of the last seven best-on-best tournaments.

While the USA outplayed Canada for a large portion of the third period and overtime in the 4 Nations Face-Off final, the only thing anyone will be interested in when looking back on the tournament is which nation prevailed.

The Canadians have some work to do regarding their roster selections, but any team with Connor McDavid, Nathan MacKinnon, Cale Makar, Mitch Marner, and Sidney Crosby will invariably be vying for gold on the world's most prominent platform. 

Best odds: +175 via bet365 ($10 to win $17.50)

🇺🇸 USA (+225)

Team USA is right where they need to be at this stage of the 2026 Olympics preamble. Their roster is as good as Canada's on the back end, and they will almost certainly have the advantage between the pipes, with Connor Hellebuyck — who is among the Hart Trophy odds favorites — steadfast on climbing to the top of the international pile. 

Remember, the Americans were without Quinn Hughes, Charlie McAvoy, and Matthew Tkachuk for most of the 4 Nations Face-Off final. That's a trio of the team's most pivotal players, and if healthy, they can push the Americans to gold. Like the 4 Nations Face-Off final, this is a toss-up between Canada and the USA.  

Best odds: +225 via bet365 ($10 to win $22.50)

 🇫🇮 Finland (+500)

Finland was Sweden's equal at the 4 Nations Face-Off despite losing three key defensemen in the lead-up to the tournament. Juuse Saros, who is as good as anyone on any given day, should be the Finns' starting netminder.

While they can't compete with Canada and Team USA's depth, the Finns always play beyond their potential when suiting up for the national team. If they make the knockout stage, which they should, anything is possible in a one-and-done scenario, especially if Saros stands on his head. Even if Saros struggles, the Finns have two excellent alternatives, Ukko-Pekka Luukkonen and Kevin Lankinen. 

Best odds: +500 via bet365 ($10 to win $50)

 🇸🇪 Sweden (+500)

Sweden didn't lose in regulation during the 4 Nations Face-Off, tying Canada with five points at the end of the round-robin. Despite falling just short of the final, there's a lot to like about their roster. They have a nice blend of experience and youth and have arguably the best goaltending trio in the tournament. 

Linus Ullmark wasn't at his best for the 4 Nations Face-Off after just returning from injury while Jacob Markstrom will be the favorite to secure the No. 1 spot if he can remain healthy. Filip Gustavsson, who was an early Vezina Trophy odds favorite this season, started for the Swedes at the 4 Nations Face-Off and should be again in contention.  

Best odds: +500 via bet365 ($10 to win $50)

🇨🇿 Czechia (+1500)

Czechia has the makings of a decent underdog. Their roster is the best of the rest. Two solid offensive lines and a  seasoned, capable goaltending crew with oodles of NHL experience — Karel Vejmelka, Vitek Vanecek, and Dave Rittich — should allow Czechia to compete. David Pastrnak is their undisputed talisman, with Martin Necas and Tomas Hertl as two of the other headline acts. 

Their lack of depth will be too much to overcome, but the Czechs represent the wisest choice of the underdogs.  

Best odds: +1500 via bet365 ($10 to win $150)

💰 Early predictions, expert picks & best bets to win 2026 Winter Olympics

It's going to be a hell of a ride, and I expect the final to be decided by one goal again. I predict Team Canada will win the 2026 Winter Olympics hockey tournament, their fifth straight best-on-best triumph. 

🥇 Pick to win 2026 Winter Olympics: Canada (+175)

Team USA has a roster capable of beating Canada. We saw that in the round-robin game at the 4 Nations Face-Off and for a large portion of the final.

However, I can't back another team until Canada is dethroned. I picked the Canadians to win the 4 Nations Face-Off from the start of the tournament for various reasons, including their Stanley Cup-winning pedigree and the ability of players like McDavid and MacKinnon to rescue the team with one heroic moment. Those reasons persist for Italy next year.

💎 Best value bet for 2026 Winter Olympics: Sweden (+500)

The Swedes got unlucky in the 4 Nations Face-Off. As with every team except Canada and the USA, depth is an issue. That said, Sweden has the deepest roster beyond the North American teams. 

I don't love certain players on their team, including Elias Pettersson. Pettersson is a fair-weathered player who excels in less important, less-contested games.

However, their goaltenders are good enough to steal a game, which they'll probably require to snatch gold. Markstrom has the inside track to be the Three Crowns' first choice, but the other options (Gustavsson and Ullmark) should also fill this team with confidence. 

🎯 Best long shot for 2026 Winter Olympics: Czechia (+1500)

We'll finally see most of the top hockey nations compete with their best players, and the Czechs comprise the best of the rest.

You always have a chance to compete when you have players like Pastrnak, Necas, Pavel Zacha, and Hertl. Vanecek should be able to hold his own in goal, and the blue line features the Detroit Red Wings Filip Hronek and Anaheim Ducks captain Radko Gudas. 

Underdogs don't usually make for good picks in the Olympics, and the same is true for 2026. But if you want to make an underdog pick, Czechia is the best move. 

🌟 Player to watch in 2026 Winter Olympics: Connor McDavid

Consider the torch passed. While Crosby will almost certainly make the 2026 Olympics his swan song, McDavid is the present and the future. He scored the winner against the Americans in overtime at the 4 Nations Face-Off final despite enduring a quiet, subpar performance otherwise. 

His ability to turn the game on its head is rivaled only by teammate and 4 Nations Face-Off MVP MacKinnon. Those two are one of the primary reasons I'm bullish on Canada winning. 

📅 2026 Winter Olympics hockey schedule

Here is the full hockey tournament schedule for the 2026 Winter Olympics in Milan, which will run from Feb. 11 to Feb. 22. 

📝 How does the 2026 Winter Olympics hockey tournament work?

The format remains unchanged, mirroring proceedings from the previous three Olympics. 

• Three groups of four teams start the tournament by playing each team in their group once
• That round-robin portion will determine the seedings
• The group winners and the highest ranked nation of the remaining teams receives a bye into the quarterfinals
• The round-robin portion is followed by four rounds of elimination games, with the bottom eight teams participating
• The four winners of the elimination games advance to the quarterfinals to play the four teams that previously received a bye
• The four quarterfinals winners advance into the semifinals
• The semifinals winner advance to the gold medal game, while the two losers meet in the bronze medal game
• The winner of the final receives the gold medal

📝 What are the 2026 Winter Olympics hockey groups? 

📝 How does overtime at the 2026 Winter Olympics work? 

(These rules apply to the men's and women's tournament)

Group stage (round robin):

• If a game is tied at the end of regulation in the group stage, the teams will play a five-minute, 3-on-3 overtime period. It's sudden death, so the first team to score wins
• If no team scores at the end of the five minutes, a shootout will decide the winner
• Five players on each team will be selected to shoot
• If it's still tied at the end of those five rounds, any player can shoot as many times as they want in sudden death
• Sudden death in the shootout consists of one shot for each team. If the first team scores, the second team must score on their attempt. If they don't, the first team wins
• If the first team doesn't score and the second team does, the second team wins

Knockout stage (playoff games, quarterfinals, semifinals):

• If a game is tied at the end of regulation, the teams will play a 10-minute, 3-on-3 overtime period. It's sudden death, so the first team to score wins
• If the game is still tied after overtime, the teams will move to a shootout with the same rules as the group stage

Bronze and gold medal game

• If a game is tied at the end of regulation, the teams will play a 20-minute, 3-on-3 overtime period. It's sudden death, so the first team to score wins
• If the game is tied after the initial 20-minute overtime, the teams will keep playing until somebody scores
• There is no shootout
• Between each period, there will be a 15-minute intermission during which the ice is resurfaced

💡 How to bet on Olympic hockey

When fomenting your plan about how to bet on hockey at the 2026 Winter Olympics, it's imperative to keep a few things in mind. The advice below is meant for the following betting markets: futures betting, moneyline, puck line, Over/Under, player props, live betting, and team props.

• Ensure you're continually looking at each team's roster, keeping up to date on any injuries or personnel switches
• Look at how each player performed for their NHL teams (or teams in other leagues across the world) in the lead-up to the tournament
• Look at each rosters' previous international and Olympics experience, including how many players have playoff or Stanley Cup-winning pedigree
• Find out the history of players in certain matchups, environments, and circumstances. For example, I backed Jordan Binnington to have a masterful 4 Nations Face-Off final because of his previous success in Boston, where he won his only Stanley Cup
• Keep in mind the possibility of situational betting. For example, Canada and the USA might rest key players at the end of the round robin if they've already secured a bye
• Some players perform better when they toss on their international sweater, while some don't perform as well. For example, Brady and Matthew Tkachuk will usually play their best hockey when donning the red, white, and blue
• Underdogs can often make up some of the class disparity thanks to a collective, one for all, all for one mentality
• Goaltenders can make a world of difference in win-or-go-home games, so keep that in mind when the knockout rounds commence
• Whichever team is designated the home team has the last line change, providing a matchup advantage
• Here are some of our 4 Nations Face-Off prediction articles to more acutely understand what to look for, analyze, and forecast before placing your bets:
• Canada vs. USA odds, picks, and score prediction
• 4 Nations Face-Off MVP picks and predictions
• Early 4 Nations Face-Off predictions

🏆 Futures Betting

✔️ Bet on which team will win gold before the tournament begins.

💰 Moneyline Betting

✔️ Simple: Pick which team will win each game.

📉 Puck Line Betting (Spread)

✔️ Betting on a team to win by a certain number of goals.

🎯 Over/Under (Totals)

✔️ Wager on the total number of goals scored in a game.

📊 Player Props & Team Props

✔️ Bet on goal scorers, assists, saves, and more.

⏳ Live Betting

✔️ Place bets in real-time as the game unfolds.

⛸️ Olympic hockey past winners

Here are the past 10 winners for the Winter Olympics hockey tournament dating back to 1988.

***best-on-best tournament 

❓2026 Winter Olympics hockey FAQs

Who is favored to win the 2026 Winter Olympics?

With +175 odds, Canada is favored to win the 2026 Winter Olympics. Those odds imply a 36.36% probability, according to our odds calculator. 

Who won the last Olympic hockey tournament?

Finland won the Beijing 2022 Olympic tournament. However, it wasn't a best-on-best tournament, with NHL players prohibited from participating. 

When is the 2026 Winter Olympic hockey tournament?

The 2026 Winter Olympic hockey tournament takes place from Feb. 11 to Feb. 22.

When is the 2026 Winter Olympic hockey gold medal game?

The gold medal game occurs on Sunday, Feb. 22 at 7:10am ET. 

Who won the last best-on-best Olympic hockey tournament? 

Canada won the last best-on-best Olympic hockey tournament in 2014 at the Sochi Olympics. 

How many players are on an Olympic hockey roster? 

The maximum number of players on an Olympic men's hockey roster is 25, and the maximum number for an Olympic women's hockey roster is 23. However, each team can only dress 20 skaters and two goaltenders for each game. 

🏒 NHL betting odds pages

Here are our futures pages breaking down the best NHL odds to help with your NHL picks.

🥅 Best Olympic hockey betting sites

Looking to bet on the 2026 Winter Olympics? Here are our best hockey betting sites as determined by our expert team at Sportsbook Review, along with our best sportsbook promos.

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