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With NHL players back in the Winter Games and Russia not participating due to IOC sanctions, Canada is ready to reclaim its distinction as the world's top nation in men's hockey. And most sportsbooks believe it will do just that at the 2026 Winter Olympics in Milan, Italy.

The NHL hasn't sent its players to the Winter Games since 2014, when Canada won its ninth overall gold medal and third in four Olympics. The Canadians took home the bronze in 2018 but failed to medal four years ago for the first time since losing to Russia in the quarterfinals and placing seventh in the final rankings in 2006.

Canada can snap a tie for most Olympic golds with the Russian team, which won seven as the Soviet Union and one each as the Unified Team (1992) and Olympic Athletes from Russia (2018). With a roster that includes the likes of Connor McDavid, Nathan MacKinnon and Macklin Celebrini, the chances of that happening are extremely good.

The United States hopes to have a say in that matter as it seeks its first gold since the "Miracle on Ice" team in 1980. Team USA has won only two medals in 11 Winter Olympics since then, with both being silver.

Canada and the U.S. are considered the top two contenders for the gold medal by a large margin, with the Canadians priced between +100 and +130 at the major sportsbooks and Team USA between +175 and +190. Ranking third across the board is Sweden (between +470 and +750), which hasn't won gold since 2006 and hasn't medaled since taking silver in 2014.

Other nations expected to be in the running for a spot on the podium are Switzerland, Finland and Czechia. The NHL is well represented by all three teams, as well as Sweden, while the league also has players on the rosters of Germany, Latvia, Denmark, Slovakia and France.

The preliminary round of the Olympic tournament begins Wednesday, Feb. 11, as each of the 12 teams face the other three in their group once. The nations are then ranked, with the top four advancing straight to the quarterfinals and the rest participating in the playoff round. The bronze medal game takes place on Feb. 21, while the winner of the gold medal will be decided the following day.

Let's dive into the power ratings entering the preliminary round of the 2026 Winter Olympics men's hockey tournament, which will include the top five teams with the best chance to win gold, as well as their current odds to win gold at DraftKings Sportsbook. For more Winter Olympics betting tips and advice, check out our Winter Olympics betting guide.

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Olympic men's hockey power ratings 

1. Canada (+115)

Team Canada has almost the exact same roster that won the 4 Nations Face-Off tournament a year ago, when it defeated Team USA in overtime in the final. It includes three of the top four scorers in the NHL this season in McDavid (96 points), MacKinnon (93) and Celebrini (81). The Canadians also have Sam Reinhart, Sam Bennett and Brad Marchand, who won the Stanley Cup with the Florida Panthers last campaign. There are only two players with previous Olympic experience, but Sidney Crosby and defenseman Drew Doughty both helped the nation win gold in 2010 and 2014. Colorado Avalanche teammates Cale Makar and Devon Toews anchor the blue line, while Mark Stone and Mitch Marner of the Vegas Golden Knights provide additional offensive punch. One can say Canada's only question mark is its goaltending, but Jordan Binnington has performed well on the big stage over his career as he backstopped the St. Louis Blues to their lone Stanley Cup championship in 2019 and was in the crease for Canada in last year's 4 Nations tournament.

2. United States (+175)

Team USA also has only two players with Olympic experience, as defensemen Brock Faber of the Minnesota Wild and Jake Sanderson of the Ottawa Senators both were on the 2022 squad as collegiate players when it finished fifth in Beijing. The Americans' roster also has a close-knit feel to it as it possesses two pairs of brothers. Ottawa's Brady Tkachuk and Florida's Matthew Tkachuk both were on the U.S. team at the 4 Nations tourney along with New Jersey Devils star Jack Hughes, who will be joined in Milan by Minnesota's Quinn Hughes -- the NHL leader among defensemen with 52 assists. Auston Matthews of the Toronto Maple Leafs, Vegas' Jack Eichel and Matt Boldy of the Wild are major offensive threats while three-time Vezina Trophy recipient Connor Hellebuyck, who also is the reigning Hart Trophy winner, figures to see the majority of the action in the crease. There isn't much of a drop off at all in goal as Jake Oettinger of the Dallas Stars and Boston Bruins netminder Jeremy Swayman also are on the roster.

3. Sweden (+650)

By no means should the Swedes be overlooked in this tournament. Their roster is chock-full of NHL players, including Filip Forsberg of the Nashville Predators, Toronto's William Nylander and Elias Pettersson of the Vancouver Canucks, and has six previous Olympians. Defensemen Oliver Ekman-Larsson of the Maple Leafs and Erik Karlsson of the Penguins helped Sweden to the silver medal in 2014, as did Colorado captain Gabriel Landeskog and Minnesota's Marcus Johansson. Victor Hedman of the Tampa Bay Lightning, who won the Norris Trophy in 2018 and the Conn Smythe in 2020, will be a stable force on the blue line while the trio of New Jersey's Jacob Markstrom and Minnesota teammates Filip Gustavsson and Jesper Wallstedt will occupy the crease. Wallstedt (four) and Gustavsson have posted a total of seven shutouts for the Wild this season.

4. Finland (+1000)

The Finns are hoping to successfully defend their first gold medal in men's hockey but have only one returning player from the 2022 roster -- defenseman Mikko Lehtonen, who also was on their 2018 team that finished sixth and played in 26 NHL games in 2020-21 with Toronto and the Columbus Blue Jackets. Dallas defenseman Miro Heiskanen and Eeli Tolvanen of the Seattle Kraken also were on Finland's 2018 club, while Utah Mammoth blue-liner Olli Maatta and Mikael Granlund of the Anaheim Ducks helped the nation capture bronze in 2014. Sebastian Aho of the Carolina Hurricanes and Dallas teammates Mikko Rantanen and Roope Hintz figure to provide offense in Milan while Nashville's Juuse Saros is likely to be Finland's No. 1 goaltender.

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5. Czechia (+2500)

While Switzerland has more returning Olympians (10) than Czechia (seven), I give the latter the nod for the fifth spot due to their dynamic offensive duo of David Pastrnak and Martin Necas. Pastrnak leads Boston and is sixth in the NHL with 71 points while Necas ranks second on the Avalanche with 62 and is seven goals away from eclipsing the career high of 28 he set in 2022-23 with Carolina. Tomas Hertl of the Golden Knights (22 goals this season) also is a scoring threat and Anaheim's Lukas Dostal is a solid option in net for the Czechs, who haven't medaled since winning the bronze in 2006. Roman Cervenka, who had a 39-game stint with the Calgary Flames in 2012-13, will be appearing in his fifth Winter Games while defenseman Tomas Kundratek will be a three-time Olympian. Defenseman Radko Gudas of the Ducks and New York Islanders forward Ondrej Palat both represented their nation in 2014.