NHL training camps will be in session before you know it and hockey season will be in full swing.

The latest: No NHL team has a bigger odds advantage over the next closest team in their division than the Toronto Maple Leafs. The odds gap is much closer in the Metropolitan Division — three teams boast odds shorter than 4-to-1. In the West, both the Colorado Avalanche and Edmonton Oilers are favourites.

Check out our latest NHL divisional odds as of August 17.

NHL division odds

Those expecting to see a shake-up at the top of the NHL's standings will be happy to see the latest odds.

Only one division winner from the 2022-23 season has the best odds to repeat in 2023-24.

Let's take a look at which teams are rising and falling.

Atlantic Division

NHL odds as of 3:45 p.m. ET on 08/17/2023.

The favourite: Toronto Maple Leafs (+215)

Toronto is the favourite to win the Atlantic Division, which is something the team has never done before. But the team made some major moves this offseason, including bringing in Tyler Bertuzzi and Max Domi. Both should help the club on the wing and down the middle.

With stars like Auston Matthews and Mitch Marner leading the way, the Maple Leafs seem poised to improve on their back-to-back second-place finishes.

Best value: Tampa Bay Lightning (+400)

Losing in the first round of the playoffs is never a good thing, but it could be a blessing in disguise for Tampa Bay. After reaching the Stanley Cup Final in three consecutive seasons, the Lightning finally had some extra time to rest this offseason.

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The hope is Jonas Johansson will be a serviceable backup and give Andrei Vasilevskiy some much-needed time off. Brian Elliott's .891 save percentage and 12-8-2 record weren't strong enough numbers to give Vasilevskiy many nights off.

The rest of the division

While the odds have Boston equal with Tampa Bay, we have our doubts.

This team has been flushed out over the course of the offseason. Its top two centres — Patrice Bergeron and David Krejci — both retired while others like Bertuzzi, Taylor Hall Dmitry Orlov departed.

Florida is interesting at +600. It won the division two seasons ago and is fresh off a trip to the Cup.

Metropolitan Division

NHL odds as of 3:45 p.m. ET on 08/17/2023.

The favourite: New Jersey Devils (+200)

There wasn't a lot of roster shuffling in New Jersey but that's not a bad thing by any means.

The Devils added Tyler Toffoli in a trade with the Calgary Flames, but their big addition came at last year's trade deadline when it acquired Timo Meier from the San Jose Sharks.

Now that he's under contract through the 2031 season, the Devils boast an impressive core of offensive talent that includes Jack Hughes and Nico Hischier.

Goaltending remains the biggest question mark but the hope is Akira Schmid can build on his impressive postseason. The position is tough to forecast, though, and it's difficult to get too excited about an unproven puckstopper.

Best value: Pittsburgh Penguins (+700)

Consider us intrigued by Pittsburgh's offseason.

The Penguins made the biggest splash of the summer, landing Erik Karlsson from the San Jose Sharks in a blockbuster trade. The move figures to keep their window open, even if it's only for a short while.

Tristan Jarry sticking around was a major plus while underrated additions like Reilly Smith, Lars Eller and Ryan Graves help fill out the roster.

The rest of the division

Carolina remained true to form with how it attacked the offseason. Orlov and Michael Bunting aren't likely to draw much fanfare, but both will be effective players for the back-to-back division champs.

The Rangers added Blake Wheeler but will largely be relying on their youthful core to make a jump in 2023-24.

NHL division odds: Central Division

NHL odds as of 3:45 p.m. ET on 08/17/2023.

The favourite: Colorado Avalanche (+150)

Colorado is the favourite to win this division, but we're not sold on the team at this price.

There's no way to sugarcoat Colorado's lack of centre depth behind star Nathan MacKinnon. The Avs added Ryan Johansen, but he'll be returning from leg surgery and didn't perform well last season (12 goals and 28 points across 55 games).

Gabriel Landeskog has already been ruled out for the year, making it fair to wonder how this team will improve.

It did finish atop the Central last year, however, but only by one point.

Best value: Dallas Stars (+275)

Finding value beyond the top two teams in this division is incredibly tough.

The Stars added Matt Duchene this offseason and he supplies the team with some impressive depth down the middle. If 20-year-old Wyatt Johnson improves on what was a solid rookie campaign, Dallas will be on a shortlist of teams with three solid centres.

It's also one of the few squads in the Central that's strong in net behind Jake Oettinger, who set career highs in games played (62) and save percentage (.919) last season.

The rest of the division

Perhaps Minnesota is a post-hype sleeper, but we don't believe it can compete with Dallas and Colorado for the top spot. It could benefit from some more offensive production from the back end, something it has been searching for in recent years.

Winnipeg is in a weird spot where it's clearly not talented enough to contend, but the Jets have stopped short of tearing it down completely.

Pacific Division

NHL odds as of 3:45 p.m. ET on 08/17/2023.

The favourite: Edmonton Oilers (+200)

Edmonton has finished second in the Pacific for three consecutive seasons but is favoured to win it in 2023-24.

The Oilers appear to have finally surrounded Connor McDavid and Leon Draisaitl with enough talent to be competitive. Connor Brown was added on a low-risk deal that could reap massive rewards for the squad.

A bounce-back year from Jack Campbell would certainly go a long way but continued growth from Stuart Skinner after his rookie season could also help the team between the pipes.

Best value: Seattle Kraken (+1,000)

After finishing fourth in the Pacific and reaching the 100-point mark last season, Seattle is an ascending team we can get behind.

The Kraken resisted making a flashy move this offseason and will instead bank on young players developing. Calder Trophy winner Matthew Beniers performed well at both ends of the ice, while 2022 fourth overall pick Shane Wright is the ultimate wild card.

Improved play from Philipp Grubauer could go a long way.

The rest of the division

Ignoring the Golden Knights would be foolish after the team won this division and the Stanley Cup last year. The core is still intact and they were able to keep goaltender Adin Hill.

Rarely does a coaching change warrant a reason to believe much will change off the ice, but the switch from Darryl Sutter to Ryan Huska is noteworthy for the Flames. A new voice could be exactly what this team needs.

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