With more parity than in any other major professional sport, betting on the NHL can be incredibly profitable if you know what you're doing. Knowing how to bet on the NHL can help you avoid losses and beat the sportsbooks.
We're here to help with that.
How To Bet On The NHL
Let's start with some of the most basic forms of NHL bets; Moneyline, totals, spread (puck line), props, and futures. Here's what each of these markets are as well as what you need to know when betting on each one.
Moneyline
A moneyline bet is simple – pick a winner. That's it! Whether that’s winning the game in regulation or overtime, they don't ask how but how many, right?
You'll see moneyline odds displayed like this at your favorite sportsbooks:
The team with the minus (-) is the favorite, while the side with the plus (+) is the underdog. Betting $100 on Toronto at -130 would net you $176 in winnings (if they win the game), $76 of profit plus your initial $100 wager. Conversely, if you bet on Montreal and they win you get $210 — $110 in profit plus your initial $100 bet.
Spread (Puck line)
The spread is designed to make betting on the favorite more enticing. The puck line is the NHL's version of the spread. Unlike the NFL or the NBA, the NHL spread doesn't change from 1.5 for each side.
The favorite (Toronto at -1.5) would need to win by at least two goals for the bet to cash. If Toronto covers the puck line – you'd get $191 in winnings instead of $176 by taking them on the moneyline.
There are two ways for Montreal at +1.5 to cover the puck line. They can lose by a single goal or win outright for the bet to cash! The odds are shorter but you've got options on this bet.
Totals (OVER/UNDER)
With a total bet, you're wagering on the total number of goals scored by both teams. You aren't backing any single side to win.
Sportsbooks will set a line for the game, in this case, it's 5.5 goals. Your job is to figure out if Toronto and Montreal will score more or less than 5.5 goals (not counting the shootout).
If you see a line that's an even number, like 6.0, those bets can end in a push where your wager is refunded if the game ends at exactly six goals.
"Props" is short for "proposition". They're a way to bet on occurrences (or non-occurrences) during a game.
Player Props
The most popular player prop markets are anytime goalscorer props, point props, and shot props. For anytime goal props, you're betting on a player to score at any point in the game (minus the shootout). For both point and shot prop markets, sportsbooks set a line and ask you if a certain player will go OVER or UNDER the line. Similar to a total bet but for an individual player.
Game Props
Props aren't limited to players — game props are a popular option for anyone who doesn't want to go all-in on one particular player. Examples of these props include who wins the race to 2 goals, if the game will go to overtime, the score after the 1st period, or if either team will earn a shutout.
Futures
A futures bet is a wager on a future outcome; like who will win the Stanley Cup or who will win the Hart Trophy. Futures offer a ton of value because so much can happen to affect the outcome of that market before it is resolved. See our futures resources to keep your eye on how the odds are moving through the season.
Advanced NHL Betting Options
Moneyline, spread and total bets are great for newcomers, but there are more advanced markets once you master the basics. These options are for the more advanced because they require you to understand the fundamentals first.
Parlays
A parlay allows you to combine multiple bets into a single ticket. While a parlay increases the potential payout, the risk grows. Each leg of the parlay has to hit for the ticket to cash.
For example, let's say you combine these three bets for tonight's Toronto Maple Leafs game for a +400 same-game parlay:
For the +400 parlay to cash out, the Leafs must win, Auston Matthews has to score at any point in the game (not including the shootout) and Mitch Marner has to get at least one point (goal or assist). If any of the legs miss, the bet fails and you lose. It's high risk, but high reward — you can see how much you'd win on a multi-leg bet with our parlay calculator.
Live Betting
Live betting allows you to wager on the game after the puck has been dropped. Rather than sportsbooks guessing at the outcome, the live odds are based on how the game is going!
The Bruins might have been favorites before the game, but if they allow a goal in the first 10 minutes, Boston might quickly be dogs on the moneyline. And with 50 minutes of game time, there's plenty of time for them to turn it around. That's found value, my friends.
Period Betting
Some of us can't stay up for all those late puck drops. Rather than betting on the total for the full game, why not use our first-period total betting report to bet on the OVER through the first 20 minutes of tonight's Colorado Avalanche game? It's a bet that hit 67% in 2023-24.
NHL Betting Tips & Strategies
There's no sure-fire way to handicap NHL games, but we'll point out a few strategies you should add to your handicapping routine.
Strategy #1: Schedule Advantage
Your first step should be looking at the schedule. What you're looking for is a team playing with no rest. Why? The guys are tired after a 60-minute effort the night before and the team is likely starting their backup goalie. Teams traveling on the second leg of a back-to-back are 103-136SU (43%) in the 2023-24 NHL season.
Strategy #2: Injury Report
Knowing who's in and who's out is vital for any sport. If a team's superstar center is out the outcome might not go the way the sportsbooks expect. Think about how bad the Oilers are when McDavid isn't on the ice; they were 1-5SU last year. It's night and day.
Strategy #3: Starting Goalie
Who's in the net matters a lot. Remember the goalie plays all 60 minutes. Going from a 0.920SV% starting goalie to a backup averaging a 0.900SV%. You're looking at the difference between a goal saved and a goal scored. With a typical NHL game ending with a 3-2 scoreline, being the team that allows that extra goal is what separates a 'W' from an 'L'.