The Rangers’ Stanley Cup hopes took a major hit after losing to the Panthers in Game 1 of the Eastern Conference Finals on Wednesday night.
After starting the series as underdogs, the Blueshirts have entered longshot territory ahead of Game 2, with odds of winning the series dropping to +245 at FanDuel Sportsbook.
The Rangers were already struggling before Game 1, being listed as +130 odds to win the conference.
“As oddsmakers, we base our odds on facts and statistics, not hope,” DraftKings trading director Johnny Avello told The Post before the series began. “That’s not to say the Rangers won’t win the Cup, but when you compare the two teams, the Panthers are slightly the better team on paper.”
The Panthers are likely to win the short series, with FanDuel projecting them at -164 to win in six games or less.
Of the four remaining teams, the Rangers have the shortest odds (+600) to win the Stanley Cup heading into Thursday’s Game 1 between the Oilers and Stars.
Avello said this week that the Rangers will likely again be at least a +100 underdog in the Stanley Cup Final against Dallas or Edmonton.
The Rangers got off to a strong start with 3-0 wins in each of the first two rounds, but now they find themselves in the unfamiliar position of having to fight back in the series.
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They faced little resistance in their seven playoff games, winning every one until losing to the Hurricanes in Game 4.
But they have looked like a different team since then, winning one and losing three in all four games while allowing at least three goals.
The Rangers were the bettors’ favorite team at one point this spring, drawing more money on ESPN Bet to win than any other playoff team in late April.
