Best NHL Odds

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NHL Odds & Betting Lines

Hockey is a sport that rewards us with the opportunity of witnessing incredible feats. Last-minute goals, astounding saves, and the occasional brawl can twist the outcome of a hockey game within the last few minutes. 

This excitement might entice you to join the action of NHL betting. And if you believe that you have what it takes to beat the line and make money while watching exhilarating matches, you might be right. 

But, first things first. Before you place a hockey bet, it is important that you understand how the odds work, the various wagers you can make, and how to bet responsibly. 

Without further preamble, let’s look at NHL odds and betting lines, and what hockey betting is all about. 

NHL Game Betting Odds

As you become familiar with the process of making National Hockey League bets, you will learn more things about the odds. Throughout this guide, we will cover a variety of topics, for example:

  1. How to calculate your potential profits and estimated payouts
  2. How to differentiate a moneyline bet from a puck line bet
  3. Why the odds are different on the moneyline than on the puck line
  4. How to take advantage of the best futures bet and prop bet odds
  5. Factors that have an impact on NHL Betting Odds

Understanding the aforementioned points will guide you on your journey to becoming a more seasoned NHL bettor, and help you maximize your chances of success. 

Best NHL Betting Promotions

Every year, millions of viewers turn to their televisions to watch the Stanley Cup, the event that culminates the hockey season in Canada and the United States. 

This has been noticed by betting houses, who, eager to join the betting action, have unveiled exciting promotions for bettors who choose to cap on hockey. Here are some of them.

Bet365 - Hockey Early Payout Off Odds

Did your team just manage to blow a 3-0 lead at the end of the first period? Were they beaten by a last-second buzzer shot that barely made it across the line? With bet365, suffer no more. 

With their latest Hockey Early Payout Offer, if your team had a 3-goal lead at any point throughout the game, bet365 will consider your bet a winner and pay it out as such. 

To qualify for this promotion, your bet must have been placed before the game starts, and it should be a moneyline bet. 

Join bet365 and embrace the thrilling action on the ice!

BetMGM - NHL One Game Parlay Insurance

If you’re looking to experience the electrifying atmosphere of the NHL, BetMGM has you covered. Simply place a One Game Parlay bet on the NHL, and if you lose, don’t worry, MGM will refund your stake (up to $25) in Bonus Bets, giving you another chance to feel the pulse-pounding excitement of hockey. The caveat is that your parlay bet needs to be for one specific game, have at least four legs, and have odds of +400 or longer. 

Join BetMGM and access this and more bonuses here

How to Read NHL Odds

There are three basic formats in which NHL odds are displayed: American odds, fractional odds, and decimal odds. If you are in the United States, it is most likely that you will see American odds as the sportsbook’s default setting. American sportsbooks in Canada are also adopting the same practice. 

Understanding American Odds in NHL Sports Betting

To estimate your winnings using American odds, you can use the following formula. 

  1. Payout with negative American odds = (100/Odds)*Wager
  2. Payout with positive American odds = (Odds/100)*Wager

Let’s see an example.

The Winnipeg Jets are playing the Vegas Golden Knights, and you placed a $50 bet on the Golden Knights. 

The moneyline odds are: 

  1. Winnipeg Jets, +125
  2. Vegas Golden Knights, -150

Profits for a $50 bet on Vegas Golden Knights = (100/150)*50 = $33.33

In addition to your $33.33 profit, you would recover the $50 you wagered. This means that the total payout for a $50 bet on the Golden State Warriors, if successful, would be $83.33. 

For more examples, and for more information on how to read and understand sports betting and odds, check out this guidethat we have created for you.

True NHL Odds vs Implied Odds

You, as a bettor, likely conduct your analysis before placing a wager. 

According to that analysis, you will determine the probability of your team winning a match. Let’s say, to use the same example utilized above, that according to your analysis, the Vegas Knights have a 55% probability of beating the Winnipeg Jets.

Well, the sportsbook has done a similar process. It is called implied probability, and it is used to determine the odds and what they will pay to a bettor that places a wager on the Knights and wins. To learn more about implied probability, check out this guide

Understanding Live Movements

Sportsbooks are constantly updating the lines based on two factors: 

  1. Any events surrounding the game that could affect the outcome, such as injuries, suspension, or other news
  2. The volume of money that is placed on one side or the other. 

Types of NHL Bets

NHL Games Moneylines

A moneyline bet is when we wager on a favored underdog or team to win the game outright.

Looking at the picture above, the Tampa Bay Lightning is playing against the Toronto Maple Leafs. A moneyline bet on the Maple Leafs would be successful if they win the game. 

NHL Goal Line Spreads

If the moneyline seems too improbable or too risky for you, you can always bet on the spread. 

As discussed before, the “goal line” or “spread” is a point spread or margin or handicap that is given to a team to level the odds. In hockey, it can also be called the “puck line.”

Using the same match as an example, the bet would look like this:

  1. Tampa Bay Lightning, +1.5 goals
  2. Toronto Maple Leafs, -1.5 goals

With this puck line, if the Leafs lose the match by 1 goal, your bet would still be successful. On the other hand, if you decide to bet on the Lightning, Tampa Bay would need to win by at least 2 goals for the wager to be a winner.

NHL Over/Unders

An over/under bet is a bet on whether the total number of goals scored in the game will be over or under a certain number determined by the sportsbook. 

The picture above highlights the odds for the match between the Seattle Kraken and the Colorado Avalanche. As you can see, the over/under line is set at 6 goals. 

This means that, for a bet on the over to succeed, both teams combined would need to score at least 7 goals. If the total number of goals scored in the match is less than 6, then the under would prevail. In this specific case, if both teams combined score exactly 6 goals, then the bet would be a push, which means, it would be a tie between the sportsbook and the bettor, and the stake would be refunded. 

NHL Parlays

A parlay bet is one in which two or more individual bets are combined. For the parlay to be a winner, all the individual selections included in the parlay must be successful. 

As an example, let’s say that we choose three teams for an NHL matchday: Minnesota Wild, Los Angeles Kings, and New York Rangers. If the Rangers and the Wild win, but the Kings lose, our parlay will be lost as a result. 

NHL Prop Bets

Proposition bets, which are also known as prop bets, are wagers that focus on the occurrence of a specific outcome within a given game. 

Here are some proposition bets when related to teams:

  1. Team to score first
  2. Double Chance (One team to win or match ends in a draw after regular time)
  3. Number of goals scored by one team only (Over/Under)

NHL Player Props

Similarly to team props, player props focus on particular situations that can happen during a game, but instead of centering around a team, they revolve around whether a player will accomplish a specific milestone. Some examples are:

  1. Player to score a goal during the match
  2. Over/Under on a particular player (Could be for goals, assists, etc)

As you can see, proposition bets can be very detailed, and the more you understand the characteristics of the game, the dynamics on the rink, and keep a close eye on the players’ performances, the better you are likely to fare on proposition bets. 

NHL Daily Fantasy

Sportsbooks that have a DFS branch like DraftKings and FanDuel have ongoing fantasy hockey contests, where you can choose your dream team and compete against other players around the country. 

NHL Betting Futures

NHL futures give you the opportunity to predict outcomes like the Stanley Cup champion and the winner of the Eastern and Western conference crowns. Typically, future bets are placed far in advance, therefore, the odds are higher. However, NHL odds are adjusted as the tournament gets underway based on teams’ performances. Learn more about NHL futures here

NHL Awards

Future bets also allow you to wager on who will win some of the NHL season's most-coveted trophies, like the Hart Trophy (Most Valuable Player), the Calder Trophy (best rookie), and others. 

Popular NHL Futures Betting

A future bet, as its name states it, is a wager through which you can predict the final outcome of an event. Here are some examples of how future bets can be applied to hockey. 

NHL Conference Winner

A popular future bet is one that predicts the winners of the Eastern Conference and the Western Conference. Because it is a future bet, you can place your wager even before the season gets started. As the matches get underway, and the outcome becomes more predictable, the odds will be changing. 

Here are the odds for both. 

Eastern Conference and Western Conference

Boston Bruins+150
Carolina Hurricanes+380
New York Rangers+400
Toronto Maple Leafs+700
Colorado Avalanche+250
Edmonton Oilers+260
Seattle Kraken+700
Dallas Stars+700

NHL Division Winner

In the same vein, you can wager on who will win each of the four divisions that comprise the NHL. So, if you are confident that your team will make it, you can get best odds by locking a bet at the beginning of the season. 

NHL Playoffs

Beyond the Conference and Division winners, there are other future bets that you can place on the NHL Playoffs. For example, you can predict the winner of a specific series, or anticipate how many games a series will have. 

Stanley Cup

One of the most popular future bets on the NHL is to wager outright on the next Stanley Cup champion. As an example, here are the present odds on who will be the next team to lift the most-coveted trophy in North American hockey. 

Stanley Cup Champion.

Boston Bruins+240
Boston Bruins+500
Carolina Hurricanes+700
Carolina Hurricanes

How to Use the Lines’ NHL Odds Page

The NHL odds page displays, in a very dynamic way, the line movement for the spread, the over/under, and the moneyline. 

By visiting our odds page, you will be able to detect and analyze patterns that might be of assistance when making betting decisions. As you know, sportsbooks are constantly updating their odds based on any relevant events that happen as the game gets closer. Therefore, if you are following your team’s news, and see something that is not in line with the way the line has shifted, you might be looking at a value betting opportunity. 


How Are NHL Betting Odds Calculated?

The odds are calculated based on the implied probability that the sportsbook assigns to a specific outcome. 

Where can I bet on the NHL?

There are several sportsbooks through which you can bet on the NHL, like bet365, FanDuel, DraftKings, BetMGM, and Caesars

How Do I Read NHL Odds?

To get a detailed guide on how to read NHL odds, go here

How Do I Handicap NHL Games?

To get a handicap on your wager, choose the puck line or goal line option when placing your bet. 

Which Team Is The Favorite To Win The NHL Stanley Cup? 

According to the current odds, the Boston Bruins are the favorite team to win the next NHL Stanley Cup. However, as is the case with sports, anything can happen. 

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