The NHL confirmed last night that the Drat Lottery will be held on 4/28 and that the Rangers have a 6% chance of getting the first overall pick.
The Rangers finished with the 8th best odds and according to Tankathon.com, they have a 19% chance of landing a pick in the top three.
The NHL runs three separate drawings in the draft lottery: for the first, second and third overall picks with odds increasing "on a proportionate basis for the 2nd Lottery Draw, based on which club wins the 1st Lottery Draw, and again for the 3rd Lottery Draw, based on which club wins the 2nd Lottery Draw."
The league also notes, "The 12 clubs not selected in the 2018 NHL Draft Lottery will be assigned 2018 NHL Draft selections 4 through 15, in inverse order of regular-season points."
The Rangers could pick 1, 2 or 3 if they win any of those lotteries, pick 8th in three teams ahead of them win the lottery, or finish 9, 10 or 11th depending on how many teams with lower odds win the lottery.
Adam Rotter: The Rangers ended up in a decent position due to their losing streak, the Isles winning a couple of games and the Oilers ending the season with two wins. They only finished a point ahead Chicago for 7th place, but they are in much better shape than they were in less than a week ago. That loss to the Islanders, as frustrating as it was to get swept, helped the Rangers both increase their odds and, in the worst case scenario where three teams below them win the lottery, they would still have the 11th pick.