The quest for this season's NHL Stanley Cup title gets underway tonight with action in the Eastern and Western Conference Quarterfinal Round. Eight teams from each conference will square off against each other in a best-of-seven series format in the first step towards winning this year's Stanley Cup.

Bovada has listed its futures odds for all 16 teams in terms of their chances to not only win their respective conference but to complete this grueling run with a NHL title. The best thing about the NHL is that any team can get hot at the right time and make that run all the way to the top, so oftentimes there is a ton of value to be found in these futures odds.

Starting in the East, the Boston Bruins are the clear favorites to win not just the conference but the Stanley Cup as well after posting the most points (117) in the NHL this season. They have been listed at 13/10 to win the East and at 7/2 to win the Cup and for good reason.

The Bruins are clearly the most balanced team in the playoffs with an offense that is ranked third in the league in scoring with 3.1 goals per game to go along with a defense that is allowing an average of 2.1 goals, which is ranked second. Goalie Tuukka Rask comes into the playoffs with a goals-against average of 2.04 and .930 save percentage in 58 games.

If you decide not to go chalk in the East, then consider a play on the New York Rangers at 9/1 to win the East and 20/1 to win it all. Success in NHL Playoff hockey hinges on the play of a team's goalie as he has the ability to carry a team all the way to a title if he gets hot at just the right time.

The Rangers' primary netminder is veteran goalie Henrik Lundqvist, who does have the talent and ability to take this team on a deep run. New York is already known for playing defense with a GAA of 2.3 that is ranked fourth in the NHL, and Lundqvist has been a big part of that success with a 2.36 GAA.

The favorite to win the Western Conference title is St. Louis at 5/2, but there are a couple of red flags with this team. First and foremost is current form. The Blues are limping into the playoffs with a 3-7 record in their last 10 games, including a six-game losing streak to close out the regular season. While they are banged up with numerous injuries, the second biggest flag is the fact they face Chicago in the opening round.

The defending champion Blackhawks have had their share of troubles this season, but they come in as second-favorites to win the West at 15/4. Add in the fact that both Patrick Kane and Jonathan Toews are expected to be back in the lineup for Thursday's series opener, and Chicago could suddenly become a very formidable force if it can quickly return to form.

The race to the Stanley Cup Finals in the West could go in a number of directions, especially if the Blues and the Blackhawks beat one another up in a seven-game opening round battle, so there is solid value in teams such as San Jose (9/2) and Anaheim (5/1) as third and fourth favorites to win this conference.

If you are looking for even longer odds in this group of eight, you might want to consider a small play on the Colorado Avalanche at 13/2. They finished the regular season with the third-most points in the NHL (112) and identical 26-11-4 records at home and on the road. They are young and brash and playing with nothing to lose after finishing dead-last in the conference last season, which in my book makes them a very dangerous team. If goalie Semyon Varlamov can stay hot after posting a .927 save percentage in the regular season, the Avalanche will be in excellent position to make a very deep run.

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