2025-26 NHL Futures: Connor Hellebuyck favoured to win fourth career Vezina Trophy

With puck drop for the first game of the 2025-26 NHL season set for Oct. 7, it’s time to look into the futures markets for some value.

Today we’re looking at the Vezina Trophy odds, which see Connor Hellebuyck open as a favourite to win a third straight award and fourth in his career.

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Vezina Trophy favourite: Connor Hellebuyck

Coming off a rare Hart Trophy win for a goaltender and two straight Vezina’s, it’s easy to see why Hellebuyck is a +310 favourite to be named the top goalie again in 2025-26.

Hellebuyck has won three of the last six Vezina’s and he was nominated two other times in that span. Since the 2019-20 season, Hellebuyck has the best save percentage (.919), second-best goals-against average (2.50) and second-most wins (205) of all NHL goalies in the regular season.

Besides Hellebuyck’s own elite level of play in the regular season, he also has a strong D-core in front of him. Winnipeg allowed the 10th-fewest expected goals at 5-on-5 last year and the eight-fewest expected goals on the penalty kill.

Having a strong defensive core in front of Hellebuyck should help him be a Vezina candidate for years to come.

Vezina Trophy dark horse: Mackenzie Blackwood

My value pick on the Vezina Trophy odds is Mackenzie Blackwood, who is set to start his first full season in Colorado. After a trade to the Avalanche from San Jose last December, Blackwood was outstanding, posting a .913 SV with a 2.33 GAA and three shutouts in 37 games with the Avs.

And much like Hellebuyck, Blackwood will have a strong D-core in front of him. Colorado allowed the third-fewest expected goals at 5-on-5 last season and the sixth-fewest expected goals on the penalty kill. Remeber, this is the same D-core that propped up Alexandar Georgiev to lead the league in wins back-to-back years in 2022-23 and 2023-24.

The icing on the cake for me is voter fatigue. Whether you like it or not, voters get tired of picking the same winner every year. It’s the same reason Connor McDavid doesn’t have 10 Hart Trophies to his name.

If Hellebuyck isn’t going to win the Vezina this season, I love Blackwood’s immense value at +2800.

Last 10 Vezina Trophy winners