How do I Bet on NHL Hockey? Wagering FAQs with Examples
If you are new to betting, found the greatest sport on ice, but don’t know how to get started, then this article is for you. Here we will show you how to bet on NHL hockey. While the NHL doesn’t have the popularity of the MLB, NBA, and NFL, hockey is getting more and more popular, and so is the betting interest. In this article, we will go over everything from how to read the odds, the different ways you can bet, and some strong strategies that will help build up your wallet.
Doc’s Sports offers NHL expert picks for every game on our hockey predictions page.
NHL Betting Basics
To begin with, there are a lot of different ways you can bet on hockey. You’ve got the moneyline bets (winner), the puck line (spread), the 60-minute line (regulation only and no overtime), game total (total number of points), player props (goals, assists, saves, etc.), and futures bets (Stanley Cup Winner, Hart Trophy Winner, etc.). Looking at the big picture, it is understandably overwhelming for newbie bettors. However, this comprehensive guide should help.
The most crucial key you must understand is how to read the odds. For example, if the New York Rangers have -150 odds to take down the New York Islanders, a $150 bet would bring in $100 in profit if the Rangers won.
One must also know that there is not a one-size-fits-all sportsbook, and some sportsbooks may provide more favorable odds compared to their counterparts. Learning to “shop” around is key. It is helpful to, responsibly, have access to multiple sportsbooks in order to get the best odds for your bets.
NHL Moneyline Bets
Moneyline bets are some of the simpler bets to understand, and the most popular way to bet on NHL games. A bet of this kind is solely picking who you think will win the game. The final score doesn’t matter like it does when betting the puck line (more on that later), and all you need to do is pick the winner.
Another example of moneyline betting would be to bet on the Boston Bruins, with -175 odds, to beat the Montreal Canadiens. If you bet $100 on the Bruins to win, you would win about $57 in profit. If you liked the Montreal Canadiens to pull off the upset with +155 odds, and they ended up winning, a $100 wage would profit $155.
With moneyline bets, it is important to follow the signs. A – sign is indicative of the favorite. A + sign indicates the underdog. It is important to learn that a team with -400 odds to win is not as valuable as potentially picking a +100 winner, and it is important to pay attention to the payout amount when finalizing your betting slip.
Another type of moneyline bet is the regulation or 60-minute line. This is where you are betting on the outcome through the first 60 minutes of the game, excluding overtime or shootout results. Instead of having two options in a standard moneyline bet, you have three with a 60-minute moneyline. You can choose for either team to win, and you have an additional option on selecting a tie between the first three periods of play. These 60-minute line bets over more favorable payouts due to the risk of potential overtime or shootout.
An example of this would be if you bet on the Los Angeles Kings to win in regulation against the Florida Panthers, you would need them to have the game secure at the end of the third period. If the game were tied and went to overtime, you would lose the bet. A standard moneyline bet on the Kings winning would still cash in if they won in overtime.
NHL Puck Lines (Point Spread)
Next up is the puck line bets. This is betting against the spread. While betting against the spread is a lot more popular in football and basketball, the sportsbooks offer this kind of bet for the NHL. The spread for nearly all NHL games is -1.5. One would read this as the team favored with a -1.5 spread would need to win by two goals in order for the bet to hit. On the other hand, if you were to pick an underdog to cover the puck line (spread) you would need them to win outright or lose by one goal, in order to have winnings for the bet.
For example, if you bet on the Dallas Stars to cover the puck line, who are favored to beat the Chicago Blackhawks, and the puck line is -1.5, you would need the Stars to win by two goals in order to win. If the Blackhawks won outright, or managed to lose by just one, you would lose the bet.
Occasionally, you may see a puck line reach -/+ 2.5, but this is usually rare and only happens a couple times a year.
One key component of understanding the game of hockey is understanding empty-net goals. These can make or break puck line picks.
NHL Game and Team Totals
The next type of bet is betting on the game total. The game total is the total combined score between the two teams. For hockey, sportsbooks will usually set the game total line at 5.5 or 6.5 total goals. You will then pick whether you think there would be more (over) or less (under) than what the line reads.
For example, if the Toronto Maple Leafs and Buffalo Sabres have a game total set at 6.5 goals, an over wager would require the two teams to combine for at least seven total goals. Conversely, an under wager would require the two teams to combine for six goals or less.
Sportsbooks also offer the opportunity to bet on team total goals. These operate very similarly, but instead of the results of both teams, a team total would focus on just that one team. For example, if the Edmonton Oilers had a team total set at 3.5, an over bet would cash if they scored four or more goals. An under bet would cash if they scored three goals or less.
Some of the strongest stats that can influence your selection are starting goaltenders, team scoring averages on the season and in previous matches against that specific opponent, power play efficiency, and defensive performance.
NHL Player Props
You can also bet on player props. Player props focus on individual performance, and have nothing to do with the overall team performance or game outcome. You can bet on players to reach, or fail to reach, a certain statistical marker in the game. You can bet on goals, assists, points, shots on goal, hits, blocked shots, etc.
One example of this would be to bet on an anytime goal scorer bet on Connor McDavid. If he were to record a goal, you would win the bet. If you bet McDavid to record more than 3.5 shots on game, you would need him to record four or more shots in order for the bet to cash.
Another example could be goaltender performance. If you really liked how well Jake Oettinger matched up against an Edmonton team, you could bet on Oettinger recording more than 27.5 saves on the night. In order to win, he would need to record 28 or more saves.
There are also popular player prop bets that include, first goal scorer, two or more points, and power-play points.
Researching this is important. While we all can throw some couch change on jackpot odds of the first goal scorer, researching recent performances, average ice time, line combination, power play usage, and opponent matchups all can be indicative of potential performance.
NHL Live Betting, Period Betting, and Parlays
Beyond the standard types of betting are exciting avenues like live betting, period betting, and parlays.
Period betting focuses on the 20-minute timeframe of a period, and this could be either the first, second, or third period. One could wager on a team to win the period, the spread of the period, or the number of goals scored in the period by individual team or a combination of both teams.
Live betting allows real time gameplay to influence the odds. The factors that change the odds include, the eye test of the play, score changes, remaining time, and game developments like ejections, injuries, or power plays.
Parlays may be the most exciting, but also the most stressful of all the bets. A parlay is when you combine selections into one big play. In order to cash in a parlay you would need all individual outcomes to hit (win). An example of a parlay would be Dallas Stars +100 moneyline, over 5.5 goals between the New York Rangers and New York Islanders (-110), and the Boston Bruins -1.5 (-110) against the Toronto Maple Leafs. A combination of these odds would result in +628 odds. A $100 bet on this parlay would result in a $728.10 payout, but you would need all legs (individual bets) to hit.
NHL Futures Betting
The final type of bet is futures picks. NHL futures are focused on predicting certain outcomes that won’t happen till the end of the year. NHL future bets can include, team point totals (over/under), division winners, conference winners, Stanley Cup Winners, Presidents’ Trophy winner, player point totals, or player awards.
The most popular is picking the Stanley Cup Winner. While you can bet on a futures bet like this at any point in the season, doing so further away from the postseason will add more value to your selections. For example, if the Dallas Stars have +1000 odds to win the Stanley Cup, a $100 wager would produce $1000 in profit if the Dallas Stars won the Stanley Cup. However, if the Stars start the season going 31-11 throughout the first half of the season, the odds may will begin to favor Dallas and you may only find a +300-bet available.
The same goes for any futures bet on team or player odds. Team and individual performance will result in fluctuating odds throughout the course of the season.
NHL Betting Strategies
Successful betting requires research. While there is no perfect formula, and these are professional teams, one needs to research the market (multiple sportsbooks), manage their money, and avoid emotional decision making.
Starting goalies are a huge swing for odds as a late change can greatly impact the chances of a team picking up a win, or of a game resulting in more goals. You should evaluate injuries, travel schedules, special teams, and advanced statistics before placing bets.
Avoid the beginner mistakes of placing oversized parlays, mismanaging your bankroll, and betting solely on recent results. As mentioned, there is no perfect formula, and this should be for entertainment purposes only.
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