While five Canadian teams ready themselves for the NHL playoffs, the Vancouver Canucks and the Winnipeg Jets have the April 29 draft lottery in Toronto to look forward to.

Vancouver has the second-best odds of obtaining the coveted No. 1 pick at 12.1 per cent, while Winnipeg has a 2.7 per cent chance.

After finishing the regular season with just 48 points, the Colorado Avalanche have the best odds of winning at 18 per cent.

The draft is used to determine the order of selection for the first 15 picks in the first round of the 2017 draft and the results will be announced shortly after 8 p.m. ET during live coverage on CBC.

Will determine top 3 picks

The lottery will consist of three drawings with the first determining the club selecting first overall, the second determining the club selecting second overall and the third determining the club selecting third overall.

The Vegas Golden Knights will be afforded the exact same lottery odds as the team finishing the regular season in 28th place — or with the third-worst regular-season record. They will be guaranteed no lower than the sixth overall selection.

To accommodate the addition of a 15th team, the odds for all other participating teams have been reduced proportionally from the odds utilized in last year's draft lottery.

Canadian Forward Noland Patrick of the Brandon Wheat Kings is the top prospect in the NHL's Central Scouting rankings released Tuesday. Swiss centre Nico Hischier, who plays for the Halifax Mooseheads, is ranked No. 2.

The Toronto Maple Leafs won last year's lottery, selecting Auston Matthews with the No. 1 pick.

Odds of winning the draft lottery: