How to Bet on NHL?
For hockey betting fans, there is no greater spectacle than the NHL. The top ice hockey league in the world is also big in betting. With over a thousand games in a season, the NHL offers bettors every possible opportunity to win big.
If you are looking for a guide to help you get into NHL betting, then this one has everything you need to know. From NHL betting lines and NHL betting odds to the top NHL betting markets, we will help you understand everything about how to bet on the NHL.
NHL History
The NHL was born from a split in the National Hockey Association, a Canadian league created in 1909. Following an internal disagreement, the Ottawa Senators, Montreal Wanderers and Toronto Arenas left the NHA in November 1917 and established the National Hockey League (NHL) in December of the same year.
Stanley Cup, which was created well before, in 1893. Originally awarded to the top amateur team in Canada, the Cup became the top award for professional hockey in 1908.
At first, the Stanley Cup holder could be challenged at any time. In 1914, the format changed, and the Cup became an annual competition between the NHA and the Pacific Coast Hockey Association (PCHA) champion. From 1918 onwards, the NHL replaced the PCHA. In 1922, the Western Canada Hockey League (WCHL) ed the other two, making the Stanley Cup a three-team bracket. Three years later, the PCHA and the WCHL merged to establish the Western Hockey League (WHL). The WHL, however, was short-lived and folded in 1926. With that, the Stanley Cup effectively became the NHL championship.
Following a recent expansion that added the Seattle Kraken in 2021, the NHL became a 32-team league. The franchises are split into two conferences, Eastern and Western, each with two divisions.
Teams play a total of 82 regular season games. Eight from each conference advance to the playoffs, which are played in best-of-seven series. The top 3 teams from each division secure an automatic spot, with the remaining two spots filled by the top-ranked wild card teams, regardless of the division standings. At the end of the regular season, the team with the best overall record wins the President Trophy.
The teams are then split into two brackets consisting of the top 3 teams from the division plus a wild card. For the conference semifinals, the bracket is reseeded based on the overall conference standings. The Eastern and Western conference champions advance to the Stanley Cup Finals, and the team with the better overall record gets the home-ice advantage.
NHL Betting Explained
As you can see, the NHL season is very long. The regular season starts in October and ends in late April. Playoffs begin in May, with the Stanley Cup Finals happening in June. That makes for eight months of play and thousands of matches to wager on. Here are the top NHL betting markets:
Wagering on the NHL match winner. Simple and straightforward, moneyline is the most common betting market in the NHL.
Wagering on the outcome of a bet at the end of regulation. While the moneyline bet takes the overtime and shootout into , that’s not the case for a win-draw-win bet. That’s why, unlike the moneyline, a draw is possible in these bets.
A popular betting market in which bettors wager on the combined goals of both teams going over or under the NHL betting line provided by the bookmaker.
Also known as the puck line or Canadian line, it’s the NHL’s equivalent of the underdog. The favorite must win the match by a margin large enough to cover the negative spread, while the underdog can afford to lose as long as the margin stays below the spread. If the underdog wins the game by any score, it covers the spread.
A future bet, just as the name implies, means wagering on a future possibility. Some examples include betting on the Stanley Cup champion, the conference champions, the division champions, the President Trophy winner, the Art Ross Trophy winner, the Rocket Richard Trophy winner, and so on.
A bet is not necessarily tied to the score. In NHL betting, these include: how many goals a player will score, how many assists a player will get, how many shots on goal a player will take, and how many penalty minutes a team will rack up, among other options.
In a parlay bet, punters combine multiple bets into a single one, multiplying their individual payouts into a bigger one. Of course, that comes at a price: a parlay needs every single individual bet, or leg, to win. It only takes one losing leg for the parlay to lose.
Also learn about Point Spreads Betting Tips and Tricks
NHL Betting Tips
NHL Betting Examples
🏒 For the season opener, the Nashville Predators were the favorites at -195 for the season opener against the San Jose Sharks. The Predators won the match. With these NHL betting odds, you would need to wager $195 on the Predators to win $100.
🏒 For that same game, the Predators were favorites with an NHL betting line of -1.5 at NHL betting odds of +135. Since the game ended with a 4-1 score in Nashville’s favor, the team covered the spread. A $100 bet on the Predators covering the spread paid $135.
🏒 The Colorado Avalanche were the favorites to repeat as Stanley Cup Champions in 2022-23. The Avs were given +400 odds to successfully defend their title, and a $100 bet would pay $400.
Pros vs Cons of NHL Betting
🔷 Pros:
🔹 Thousands of games to bet in a single season, and matches happening every night. There are always going to be valuable NHL betting odds available.
🔹 Wide variety of betting markets to choose from. Aside from the great number of games, the NHL presents bettors with lots of options, from moneyline bets to props.
🔶 Cons:
🔸 Take care not to run out of funds. The downside to having thousands of games to bet on is that you can empty your bankroll without realizing if you don’t keep things under control.
🔸 In an 82-game season, it’s only natural for teams to have their ups and downs. Upsets happen every night, but predicting them obviously isn’t easy.
Summary
Whether you are an ice hockey fan or not, NHL betting is a great opportunity to make a decent profit. There are matches taking place every night, and each game comes with a decent selection of betting markets to choose from. It takes some commitment, as tracking information from 32 teams requires work. But if you are willing to put in the effort, then there will be lots of chances to win big.
If you want, you can also check out our How To Bet on MLB? section to widen your betting opportunities and get the most out of other sports!
NHL Betting FAQs
How To Bet on NHL?
In order to bet on the NHL, you need to first sign up for a sportsbook . In a bet, you need to select a betting market, look at the NHL betting lines available and then select the NHL betting odds. Select the odds and then place your wager. The payout depends on the odds available.
Where Can I Bet on the NHL?
NHL betting is available at the vast majority of online sportsbooks. You just need to be over the minimum legal age in your region and make sure that there are no restrictions to betting.
Is the NHL Hard to Bet On?
With the right knowledge and information, betting on the NHL becomes easier. Of course, sports betting does have an element of unpredictability, which you have to for. But even then, NHL betting isn’t particularly hard.
What Does +1.5 Mean in NHL Betting?
A +1.5 NHL betting line means that the team is an underdog, and is given a 1.5-goal handicap for the match. That team will cover the spread and win the bet if it either loses the match by 1 goal or if it wins by any score margin.
How Do You Read NHL Betting Odds?
NHL betting odds have a plus or a minus sign. Odds with a minus sign indicate how much you have to bet to win $100 (-120 indicates that you need to bet $120 to win $100). Odds with a positive sign indicate how much you can win with a $100 bet (+120 odds indicate that you win $120 for every $100 bet.)
