Hellebuyck Trade: Devils' Stanley Cup Odds Shorten to 14-1

The New Jersey Devils acquired three-time Vezina Trophy winner Connor Hellebuyck from the Winnipeg Jets on Friday, Oct. 23, and DraftKings moved their Stanley Cup odds from 25-1 to 14-1 once the deal broke, per ESPN. The standoff that began with a summer trade request is over.

Connor Hellebuyck Trade: What New Jersey Gave Up

Winnipeg gets forwards Dawson Mercer, Nick Bjugstad and Alexander Command, goalie Nico Daws, a 2027 seventh-round pick and a 2029 second-round pick, ESPN reports. Mercer, 24, has four assists in 10 games this season and 213 career points in 420 games. Command, 18, was the 12th overall pick in the 2026 draft and is playing in Sweden. Bjugstad, 34, is recovering from torn pectoral surgery and is expected to be out four to six months, and Daws is 2-2 with a .874 save percentage.

Hellebuyck, 33, had been suspended for failing to report to training camp and was losing nearly $39,000 a day while he sat out. He forfeited nearly $928,000 in salary, per ESPN, and the suspension was set to end Friday. He requested a trade this summer, and sources told ESPN his reasons extended beyond hockey. Per ESPN, in September, Winnipeg general manager Kevin Cheveldayoff said the club had asked for extra security for Hellebuyck after he returned to Winnipeg from the Winter Olympics gold medal game.

He is in the third season of a seven-year, $59.5 million contract. He won the Hart Trophy in 2025. We covered the lead-up in our Hellebuyck suspension and trade standoff piece.

Stanley Cup Odds After the Trade

Per ESPN via DraftKings, accurate as of publish time on Friday, the Devils began the season at 30-1 to win the Cup and moved from 25-1 to 14-1 once the deal broke. In the Eastern Conference they went from 13-1 to +700, the fourth-best price. New Jersey is also -400 to make the playoffs.

Here are the other price moves ESPN listed:

Carolina Hurricanes: +600 to win the Cup, shortened from +650 at the start of the season, and still the favorites as reigning champions.

Tampa Bay Lightning: +800, down from 10-1.

Washington Capitals: 11-1, down from 17-1.

Florida Panthers: +850, lengthened from +650.

Our Stanley Cup odds board from two weeks ago has the earlier numbers for comparison.

Why the Fit Makes Sense

The Devils entered Friday in the second Eastern wild-card spot after opening their first 10 games with a Jake Allen and Daws tandem, according to ESPN's trade grades. The underlying numbers were better than the standings: New Jersey's 59.74% shot share at 5-on-5 trailed only Carolina's 59.79%, and the Devils allowed the second-fewest high-danger chances per 60 minutes.

ESPN argues goaltending could be a reason. New Jersey's team save percentage across all situations was .880, tied for 23rd in the league. ESPN gave the Devils an A for the move, and noted Hellebuyck has faced the second-most shots in the NHL since 2021-22. ESPN says the Devils are banking on Hellebuyck helping them emerge as a legitimate threat in the East. New Jersey's first-year GM, Sunny Mehta, previously worked in the Florida Panthers front office and has not been shy about bold moves, per ESPN's trade report. He traded last season's starter, Jacob Markstrom, to Florida this summer, which ESPN's grades call the reason a proven number one became the priority.

Hellebuyck missed training camp, so ESPN expects an adjustment period. The reports we reviewed did not say when he would make his Devils debut.

Winnipeg's Side

The Jets lost four straight coming in, rank 25th in goals per game at 2.60, and sat level on points with Colorado for the second Western wild-card spot, ESPN reports. ESPN graded the trade a B+ for Winnipeg and counted 28 draft picks over the next three years in the Jets' possession. Winnipeg hosts the Heritage Classic on Sunday.

Betting Impact

The futures market repriced New Jersey immediately. A move from 25-1 to 14-1 is a jump in implied probability from about 3.8% to about 6.7%, and the -400 playoff price implies 80%. The question is whether a goalie's arrival is worth that much when the skaters were already controlling play.

The two meetings are Nov. 10 (Devils at Jets) and Nov. 28 (Jets at Devils), per ESPN. Our earlier Vezina Trophy odds piece was written while Hellebuyck was suspended. The NHL daily picks page covers each night's slate, and StatSniper's Chad app has more on each night's goalie matchups.

What to Watch Next

Watch for the first Devils start and whether New Jersey's save percentage, currently .880 across all situations, climbs toward the league middle. Watch Winnipeg's wild-card position too, since ESPN notes Bjugstad could be a deadline-day trade piece if the Jets fall out of the race.

FAQ

Who did the Devils trade for Connor Hellebuyck? Dawson Mercer, Nick Bjugstad, Alexander Command, Nico Daws, a 2027 seventh-round pick and a 2029 second-round pick all go to Winnipeg, per ESPN.

What are the Devils' Stanley Cup odds after the trade? 14-1, down from 25-1, per ESPN via DraftKings, and +700 to win the Eastern Conference. They began the season at 30-1.

Who are the favorites to win the Stanley Cup? Carolina leads at +600. Per ESPN and DraftKings, Tampa Bay is +800, Florida +850 and Washington 11-1.

When do the Devils play the Jets? At Winnipeg on Nov. 10, and in New Jersey on Nov. 28.

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