The Stanley Cup Playoffs are here, but for those teams not participating in the quest for the coveted trophy, there’s just one date to look forward to.

The NHL Draft Lottery will be held May 8, which is when one of 11 teams will find out if they have the chance to draft Canadian goal-scoring phenom Connor Bedard with the top pick in the draft. 

While there are 16 teams that missed the playoffs, a team can only improve its draft position by 10 spots via the lottery. That means the Ottawa Senators, Buffalo Sabres, Pittsburgh Penguins, Nashville Predators and Calgary Flames each have the opportunity to increase their draft position via the lottery, but cannot get high enough to select Bedard.

The Anaheim Ducks, by virtue of finishing with the NHL’s worst record, have the best odds of winning the draft lottery at 18.5%. Because of the new lottery limits, the Ducks actually have a 25.5% chance of earning the No. 1 pick. The Columbus Blue Jackets (13.5%) and Chicago Blackhawks (11.5%) are next in line in the hopes of having a franchise-changing stroke of luck. The Vancouver Canucks, the team North Vancouver native Bedard grew up cheering for, have the longest odds of getting the No. 1 pick at 3%.

NHL Draft Lottery Odds

Note that the Ottawa Senators will only retain their first round pick if it lands in the top five of this draft due to conditions on a trade with the Arizona Coyotes. Should the pick land outside of the top five, that pick belongs to Arizona. If the pick is in the top five, the Coyotes would get Ottawa's first-round pick in 2024.

The NHL Draft Lottery now has two drawings, as opposed to three. The lowest the Ducks can drop in the draft order is third overall. 

NHL Draft Lottery Prospects To Know

The reason this year's lottery has so much more focus is all thanks to Connor Bedard. The 2023 consensus No. 1 pick recently completed his third WHL season with a staggering 71 goals and 72 assists for 143 points in just 57 games played.

Despite the intense focus on Bedard, a number of other prospects have brought a high level of excitement to the top of this draft, meaning teams that don't win the chance to select Bedard still have the chance to land a very special prospect. Here are some other prospects to know heading into the lottery.

Adam Fantilli, C, Michigan: Fantilli just won the Hobey Baker as the top player in NCAA hockey this season. He was only the third freshman to win the award, joining Paul Kariya and Jack Eichel in that exclusive club. Fantilli led the nation with 65 points and helped Michigan with the Big Ten tournament and reach the Men's Frozen Four this season.

Matvei Michkov, RW, HK Sochi: Despite uncertainty about drafting Russian players amid geopolitical tension with the rest of the world and Russia, Michkov remains one of the most coveted prospects of this draft. A naturally-gifted scorer, Michkov had 20 points over 30 KHL games this season, spent primarily with Sochi. He is one of the most exciting Russian prospects since Alexander Ovechkin and Evgeni Malkin came through the draft.

Leo Carlsson, C/W, Örebro: Size, hockey sense and skill all make Carlsson a prospect teams are getting excited about. The 18-year-old was an important offensive player for his club team in Sweden's top pro league, registering 10 goals and 25 points to lead all U19 players in the SHL this season. At 6-3 and nearly 200 pounds, Carlsson has excellent hands for a bigger player and can make a lot of plays.

The NHL Draft Lottery will be aired live at 7 p.m. ET on May 8. ESPN will carry the event in the United States, while Sportsnet and TVA will broadcast the lottery in Canada.