Olympic Women's Hockey Gold Medal Odds (USA, Canada Go Head-to-Head as Favorites)

The best time of the year for some sports fans is almost here. The 2026 Winter Olympics are almost here, taking place in Milan and Cortina D’Ampezzo, Italy, from February 6 to 22.

One of the sports that draws the most attention in North America is ice hockey, with both the women’s and men’s events featuring intense matches throughout the tournament.

Since Women’s Ice Hockey was added to the Winter Olympics in 1998, only Canada and the United States have won gold medals. Canada holds the lead with five, while the USA won in 1998 and then in 2018.

In fact, Sweden is the only other country to ever appear in a gold medal game, falling to Canada in 2006.

Let’s take a look at the latest Olympic Women’s Hockey Gold Medal Odds for the 2026 Winter Olympics.

Odds via DraftKings Sportsbook

Olympic Women’s Hockey Gold Medal Odds

USA: -145
Canada: +115
Czech Republic: +2500
Finland: +3500
Sweden: +6500
Switzerland: +10000
Japan: +25000
Germany: +25000
Italy: +80000
France: +80000

The gold medal odds reflect the history of women’s hockey at the Olympics, with the USA and Canada being the only teams with remotely realistic odds to win.

Miracles do happen, but it’s hard to find an argument for anyone besides the North American powerhouses to win gold. So let’s take a quick dive into how these sides have performed since Canada won at the last Winter Olympics in 2022.

Canada and the USA have alternated gold medals at the IIHF Women's Hockey Championships in the four years since the Olympics. Canada won in 2022 and 2024, with the USA taking home gold in 2023 and 2025.

While you can look at recent history between these two countries in other events as well, the Olympics are a different beast.

For my money, I have to back Team Canada at these +115 odds. They have history on their side and always seem to step it up a notch at the Olympics, while the USA has failed to seal the deal in past years.

Odds refresh periodically and are subject to change.

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