Finishing dead last does not even guarantee anything. The NHL changed the draft process again, whereby the team with the worst record now has only a 20% chance of getting the 1st pick. And the 29th place team has a 13.5% chance. Sure the odds are still better than that of the 28th team (where Sabres stand now) of 11.5 % but they've made the odds more balanced across the lottery teams.
The lottery is becoming more like the NBA, which I don't like. Since the NBA Lottery started in 1985, only 3 times has the team with the worst record won the 1st pick. To me, that's just stupid. The team with the worst record should have like a 50% chance of getting the 1st pick.
Also, in 2016 the NHL will adopt another rule taken from the NBA system. Since the NHL Draft Lottery started in 1995, the team with the worst record could only drop one position. Starting in 2016, they can drop as far as 4th.