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The World Junior Hockey Championship will take place on Canadian soil once again after Canada captured Gold during the summer in Edmonton. The hosts are currently favored to repeat — as discussed in our odds breakdown.

After the 2022 World Junior Championship took place in August after the tournament had to be postponed, the tournament returns to where it rightfully belongs — with the action kicking off on Boxing Day.

This year's competition heads back to Canada, this time with two East Coast cities — Halifax and Moncton — hosting. Before round-robin action begins next Monday, check out the full odds below for the 2023 World Junior Championship:

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Team Canada (-120)

After dominating their way to the Gold medal in the summer, Canada opened the tournament as the favorite, bolstering an incredibly skilled roster led by captain Shane Wright and Connor Bedard.

— TSN (@TSN_Sports) December 12, 2022

Canada went 7-0-0 in the summer with the only real challenge coming against Finland in the final. This is a squad that has plenty of offensive firepower and will be able to score with the best of them in the tournament. It's no secret why they're so heavily favored over the rest of the field.

Canada will open up their tournament against Czechia on Monday night.

Team Finland (+300)

Coming in at the No. 2 spot on the odds board are the runner-ups in 2022. Although Finland has a very competitive roster, they don't have as much skill as they've had in years past.

Oliver Kapanen is a very solid player, but he doesn't possess the type of game-breaking skill that a team like Canada possesses. Make no mistake, Finland is second on the board for a reason, but Canada may be just too good.

The rosters are beginning to take shape for the 2023 World Juniors... Meet Team Finland!

Rounding out the Top 3 is Team USA, who will be looking to recoup after finishing without a medal in the summer. USA have a fairly strong top line, but they'll be counted on to do most of the heavy lifting as depth projects to be an issue.

Their starting goalie is also yet to be decided, so it'll be interesting to watch that storyline play out.

We've got our squad that's heading to Canada. ????????

— USA Hockey (@usahockey) December 16, 2022

Past World Junior Championship winners

Here is a list of the WJC winners of the past decade, with Canada, the USA, and Finland all having won it three times.