UPDATE: Edmonton Oilers win third overall pick at NHL draft lottery

EDMONTON – The Edmonton Oilers had the top Canadian odds at Tuesday’s NHL draft lottery, but ended up getting third pick.

Since the NHL uses a weighted system for these picks, the worse a team’s record, the better its chance of landing the top choice.

It’s a process the Oilers and the team’s fans are, unfortunately, quite familiar with. The team won the lottery three straight years — picking up Taylor Hall, Ryan Nugent-Hopkins, and Nail Yakupov between 2010 and 2012 .

Having finished in the last place in the Western Conference this year, and with the third-worst record in the league, the Oilers had a 14.2 per cent chance of landing the first overall pick.

Buffalo had the best chance: 25 per cent, followed by Florida at 18.8 per cent.

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In the end, the Florida Panthers won the first overall pick. 

When it comes to Canadian teams, the Calgary Flames will select fourth,Vancouver Canucks sixth, Toronto Maple Leafs eighth and the Winnipeg Jets ninth.

The Ottawa Senators would have selected 10th, but they traded their pick to the Anaheim Ducks.

Montreal was not entered in the draft lottery as the Canadiens are the only Canadian team in the NHL playoffs.

Oilers’ General Manager Craig MacTavish met with the media on Tuesday, saying he’s optimistic about the future of his team.

“We’re building a team that’s going to be capable of winning a Stanley Cup. I know that falls on some deaf ears currently — but that’s our vision, that’s why we are in it as Edmonton Oilers.”

READ MORE: Oilers GM says he’s optimistic about future

MacTavish added he’s convinced that Head Coach Dallas Eakins is the right coach to lead the Oilers to more successful times.

He also said that in terms of the development of the team, the Oilers are closer to the end than they are to the beginning.

According to MacTavish, the Oilers need a few pieces for next season, adding he’d like to bring in a high-end defenceman.

The draft will be held June 27th and 28th in Philadelphia.

With files from Quinn Phillips, Global News and The Canadian Press