Hockey is one of the most unpredictable of the major professional sports, and as such, betting on the NHL can add excitement to a game or a season. Below, we take a look at definitions of key sports betting terms and how odds work in the many ways to get a piece of NHL betting action.
NHL betting: Ways to bet
Access USA TODAY Sports’ betting odds for a full list of today’s sports betting odds and lines.
- Single-game betting: Individual games are broken down into a moneyline, against the spread or Over/Under, where bettors back one of two sides of a line.
- Live betting: Get action while the game is underway with lines adjusting almost constantly based on which team is winning or dominating play. In-game injuries, particularly to a starting goaltender, can also drastically affect the lines and odds.
- Alternate lines: When looking to bet on a game, it’s always wise to look at all of the available options on the alternate lines. These can offer either a greater profit margin or a higher probability of winning the bet.
- Futures betting: Place bets in the offseason or at any point within a season by backing a team to win the Stanley Cup or their division or conference, or to win a certain amount of games. Player awards such as the Hart Trophy (MVP) or Vezina Trophy (top goaltender) are also available as futures. Odds are generally at their highest at the beginning of a season, and they’ll be adjusted throughout the year based on team or player performance.
- Prop bets: Get single-game action on players by betting stars to score or not, or to record a certain number of a specified stat such as shots, hits or saves.
NHL betting: Key betting terms to know
- Favorite: Generally the home team or the team with the better season record. Starting goalies and current injuries also weigh-in.
- Underdog: Conversely, underdogs or dogs, will generally be the visitor or the team with the worse record.
- Moneyline: The most common bet type, simply pick one side or the other to win the game. Moneylines typically look for a team to win the game at any point, but alternate lines are available to specify one side winning in regulation vs. in overtime or a shootout.
- Spread/puck line: Get better value on favorites by backing them to win by two or more goals on a line of -1.5, or get some insurance on the underdogs by betting them to cover a line of +1.5 and either lose by one goal or win the game straight up.
- Total or Over/Under: A line set for how many combined goals will be scored in the game by the two teams. Can be limited to regulation time or include a winning goal from overtime and a potential shootout.
- Push: In some rare cases, totals or puck lines are set at an even number. The bet will be refunded if exactly that amount of goals are scored or if the line is covered by the exact number of goals.
- Chalk: Referring to odds on heavy favorites. The odds are generally so low as to not be worth betting as the profit margin is too small to warrant the small risk.
- Parlay: Combining two or more bet types from the same game or across multiple game offerings. It increases the total odds, but they’re extremely risky as all plays need to be correct for a bet to win. The more bets included, the higher the payout, but the higher the risk.
- Teaser: Buy or sell some goals on a puck line or a total bet in order to get better odds or increase your chance of winning with lower odds.
NHL betting: How do odds work?
Hockey odds on the moneyline generally range from -250 to +250, but can extend in either direction in lopsided matchups. The -250 would represent a fairly heavy favorite and borders on a chalky play. A $10 bet would return a profit of just $4. A $10 bet at +250 on an underdog fetches a plus-money profit of $25 if they pull off the upset.
Even-money refers to odds of +100, where a $10 bet fetches a profit of $10. These lines are more frequently seen on puck lines or totals. The lower the odds, the more likely the result and the smaller the profit margin. Futures odds are typically at their most profitable before a season starts, but the odds can rise for a preseason favorite if it gets off to a slow start. It’s good to note preseason odds and track them as the season goes on.
All bets are paid out shortly after a game finishes, with those funds being allowed to be placed on new bets or be withdrawn from the sportsbook.
Get some sports betting action by placing a bet with BetMGM today. For more sports betting picks and tips, visit SportsbookWire.com.
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Gannett may earn revenue from audience referrals to betting services. Newsrooms are independent of this relationship and there is no influence on news coverage.
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