Stranger Things Chapters 5–7: Betting Odds, Prop Markets & Payout Paths

The wait for the second half of Stranger Things is agonizing. With chapters 5–7 set to arrive on December 25^th, fans are filling the gap by turning to the sportsbooks. Bets are flying on who lives and dies in Hawkins, with oddsmakers dropping lines on everything from character deaths to romantic subplots. It’s a fascinating way to gauge what people truly believe will happen, because money tends to follow narrative logic rather than wishful thinking. The split between wagers on “Hawkins is Destroyed” versus “Hawkins is Saved” shows just how divided the public is on whether we’ll get a happy ending at all.

The Death Pool: Steve vs. Jonathan

The “First Major Character Death” market is buzzing. Steve Harrington remains the heavy favorite, with many believing his redemption arc is complete. He went from high school bully to the world’s best babysitter, and a heroic sacrifice to save Dustin or Nancy feels inevitable.

Jonathan Byers is seen as the value pick. He’s been sidelined narratively, and killing him would devastate Joyce and Will, giving them emotional fuel for the final fight. It’s the kind of gut‑punch death that raises the stakes without eliminating one of the “core four” kids.

Meanwhile, Eleven and Mike are considered safe. The writers are unlikely to kill the main couple until the very last credits roll, if at all. Murray Bauman is also drawing attention; comic relief characters often die right when things get serious, signaling the end of the fun and games.

What makes this market so compelling is how it mirrors the show’s history. Bob Newby’s death in Season 2 set the precedent for beloved but secondary characters being sacrificed to push the emotional core forward. Steve’s potential exit would echo that tradition, while Jonathan’s demise would be a quieter but equally devastating blow. Fans are essentially betting on which narrative rhythm the Duffers will repeat.

Will Byers: The Secret Weapon

Will Byers is at the center of speculation. Many believe he will finally manifest powers after Volume 1 teased his telekinetic surge. If he throws a Demogorgon across the room with his mind, it would be a game‑changing moment.

There’s also a darker theory that Will could become the villain, perhaps as Vecna’s vessel to permanently enter the real world. On the flip side, some think Will will be the one to kill Vecna, placing him just behind Eleven as the most likely to deliver the final blow. The consensus is clear: while Eleven is the powerhouse, Will may be the key to the lock.

This duality – savior or destroyer – is what makes Will’s arc so fascinating. He has carried trauma since Season 1, and the idea that his pain could either empower him or consume him is narratively rich. The betting boards reflect that tension, with fans split between redemption and corruption.

The Payout Paths

Every wager isn’t just about the final outcome; it’s about the road that gets us there. If Steve dies saving Dustin, bettors who took “Steve First Death” cash in, but so do those who backed “Hawkins Saved,” since his sacrifice could secure victory. If Jonathan dies instead, it pays off “Jonathan First Death” and strengthens the “Nancy Chooses Independence” market, since grief could sever their bond. That’s what makes these odds fascinating: one twist can trigger multiple winning tickets, depending on how the Duffers write the dominoes to fall.

Nancy’s Choice: The Odds Shift

For a long time, fans were convinced Nancy and Steve were destined to come back to each other. Their chemistry and shared history made that reunion feel almost inevitable. Yet the way things have unfolded, it now seems just as likely Nancy will choose herself instead. She’s been written as fiercely independent, chasing leads and risking her own safety for the truth. Ending up single wouldn’t be a failure; it would be a statement that she’s carving her own path.

Jonathan, on the other hand, feels like he’s fading from her orbit. The distance between them in Volume 1 was tough to watch, and the secrets he carried weighed heavily on their relationship. Viewers who once rooted for them are starting to accept that the spark may be gone.

And then there’s the darker possibility: Nancy doesn’t make it out alive. Losing her would rip the investigative heart out of the group and leave Steve and Jonathan shattered. It’s not the likeliest outcome, but it’s exactly the kind of gut‑punch the Duffers have delivered before.

The Max Factor

Max’s coma dictates the pacing of the final season. Many expect her to wake up in Chapter 7, right before the climax, providing the “cavalry has arrived” moment the group needs.

Others fear she may never wake up or die in the coma, aligning with the darker tone of Season 4. Another theory suggests she could wake up blind, with Vecna’s attack leaving permanent damage.

Her recovery, or lack thereof, will likely serve as the emotional hinge that determines whether the season leans toward hope or despair.

Max’s fate is more than just a subplot; it’s a barometer for the season’s tone. If she returns, it signals hope and resilience. If she doesn’t, it cements the series as a tragedy. Bettors are essentially wagering on whether the Duffers want to leave audiences uplifted or gutted.

Killing Vecna: Fire or Time Travel?

How do you kill a hive mind? The safe bet is a telekinetic showdown, a Dragon Ball Z‑style battle between Eleven and Vecna.

But there’s a massive theory involving time travel. The Upside Down is stuck in 1983 for a reason, and resetting the timeline could save Hawkins, though at the cost of erasing years of memories.

Other wildcards include Vecna being redeemed (unlikely, but stranger things have happened) or Eleven sacrificing herself to close the gate, mirroring the Season 1 ending but with finality.

The Wildcards and The Town

Specific props keep the market fun. Fans still cling to the idea of Eddie Munson returning. Karen Wheeler finally learning the truth about the monsters feels inevitable, while Ted Wheeler doing absolutely nothing is practically guaranteed.

Finally, the “Fate of Hawkins” market leans toward destruction or abandonment. The town is already half‑ruined, and the idea of everyone patching things up and going back to school seems impossible. The smart money says Hawkins ends as a ghost town memorial to the Upside Down war.

Betting on a scripted show is surreal because the outcome is already locked on a Netflix server. You’re wagering on narrative structure instead of athletic performance, analyzing writer tendencies instead of quarterback stats. As Chapters 5–7 approach, the speculation points toward Steve as the hero, Nancy choosing independence, Will stepping into his destiny, and Hawkins meeting its doom. Whether you bet or not, watching these theories play out adds a whole new layer of tension to the end of an era.