Hockey may not be as popular as football or basketball when it comes to betting on sports, but if you are serious about creating a winning betting strategy that can give you the best return on your investment, then betting on the NHL should definitely be part of the mix.
All of today’s top offshore sportsbooks operating online offer betting action on the NHL in the form of moneyline odds, total lines and puck lines. Given that there are now 31 NHL teams playing an 82-game regular season schedule, followed by an extended postseason that lasts over two months, there are more than enough opportunities to cash in on the games. Beginning in early October with the start of a new regular season right through the best-of-seven Stanley Cup Finals, betting on hockey can provide one of the best returns on investment if you know where and how to look for the soft betting lines.
The use of moneyline odds is the most common way to bet on a NHL game. The difference between a favorite and an underdog in any matchup is designated by the added risk you need to take to bet on a favorite verse the added reward you can earn by betting on the underdog. One of the best things about betting on moneylines for NHL games is just how close the difference between the two actually is in most matchups.
A typical NHL moneyline will read as follows:
Pittsburgh Penguins +115
Washington Capitals -125
In this example, Pittsburgh is the road team because it is listed first and it is also the underdog with the plus sign in front of its 115 moneyline odds. The Capitals are listed second as the home team and the minus sign in front of their 125 odds designates them as favorites.
If you bet $100 on Pittsburgh to pull off the upset on the road, you would win $115 if the Penguins win. If they were to lose, you would only owe your original $100 bet. Going with the favored Capitals with that same $100 bet would net you $100 if they go on to win the game. If Washington loses as a favorite, you would owe $125 on that bet.
The total line in NHL games also adds more value than most other sports since it is very limited in range. The typical total line for an NHL game is set anywhere between five and six total goals scored by both teams. Using the same example above, the total line for this game would read:
Pittsburgh Penguins Over 5.5 -110
Washington Capitals Over 5.5 -110
If you bet $100 that the total goals scored in this game goes OVER 5.5, you would win $100 if correct. You would owe $110 if you are wrong in light of the 10 percent commission charged to book this bet. Betting the UNDER in this game offers the same two scenarios for your actual bet.
Most online sportsbooks will tweak the total line with changes to the commission or juice they charge to book a bet. For example, if they want to move money one way over the other you may see a total line with +110 odds for the OVER and -110 odds for the UNDER. In this scenario, you can actual win $110 for a correct play on the OVER while only owing $100 if you are wrong.
Also Read: How to Bet on Sports | College Basketball Betting
The puck line in hockey is equivalent to the pointspread in football and basketball, but it is always set at 1.5 goals with corresponding moneyline odds. Using the same game above, the puck line for this matchup would read:
Pittsburgh Penguins (+1.5) -255
Washington Capitals (-1.5) +215
If you want to bet on Pittsburgh to win plus the goal and a half, you would have to risk losing $255 to win $100. Betting on the Capitals to win this game by two goals or more would pay you $215 on a $100 bet.
