Hockey Betting Odds Explained - Betting.ca
-
By Dušan Jovanović
- — Updated
If you’re new to hockey betting, you must first understand the odds. Hockey betting odds can initially seem confusing, but once you understand how they work, they’re pretty simple.
This article will explain the basics of hockey betting odds and how you can use them to your advantage.
Bookmakers with the Best Hockey Odds
When it comes to betting on hockey, Canadian betting sites are some of the best in the business. With a wealth of experience and knowledge of the sport, they offer competitive odds that can give you an edge over the competition.
Here are some of the best Canadian bookmakers for betting on hockey:
- Canadian players accepted
- Canadian players accepted
- Canadian players accepted
- Canadian players accepted
- Canadian players accepted
What are hockey betting odds, and how do they work?
When you bet on hockey, the odds represent the probability of a particular outcome occurring. The higher the odds, the less likely the event is to occur; conversely, the lower the odds, the more likely the event is to occur. Odds can be expressed as a number (e.g. 1/5) or decimal (e.g. 2.00).
If you bet on a team with odds of 1/5, for every $5 you bet, you will win $1 if the team wins. So if you bet $20 on a 1/5 team, you would win $4 if they won the game.
If you bet on a team with odds of 2.00, for every $1, you will win $2 if the team wins. So if you bet $20 on a 2.00 team, you would win $40 if they won the game.
The higher the decimal odds, the more money you will win if your bet is successful. However, it is important to remember that the higher the odds, the less likely the event will occur.
When betting on hockey, you will often see two different types of odds: Moneyline odds and puck line odds. Moneyline odds refer to which team is favoured to win the game. Puckline odds take the Moneyline a step further and factor in the game’s spread (or handicap).
The spread is the number of goals the favoured team is expected to win. For example, if the puck line is +1.5, the favoured team must win by two or more goals for a bet on them to be successful. Conversely, if the puck line is -1.5, the favoured team can lose by 1 goal and still have a successful bet.
Puck lines are usually expressed as decimal odds (e.g. +1.5/-1.5), but can also be expressed as Moneyline odds (e.g. +120/-140).
When betting on hockey, it is important to understand the odds and how they work. The odds represent the probability of a particular outcome occurring, and the higher the odds, the less likely the event will occur. However, remember that even though the odds may be against you, there is always a chance that your bet could be successful.
The different types of hockey bets that are available
There are many different types of hockey bets that you can make. You can bet on the outcome of a game, the point spread, or even the money line. You can also bet on who will score the most goals in a game or which team will have the most shots on goal. There are many types of hockey bets to choose from, and you should learn about them before you start betting on hockey games.
One of the most popular types of hockey bets is the bet on the outcome of a game. You can bet on the winning team, the losing team, or even the tie. This type of bet is straightforward to make, and it can be very profitable if you know what you are doing.
Another popular type of hockey bet is the bet on the point spread. The point spread is the number of goals a team expects to score in a game. You can bet on either the favourite or the underdog, and you will win your bet if the team you chose scores more goals than the point spread.
The money line is another popular type of hockey bet. The money line is the amount of money that you would win if you bet on the winning team. You can also bet on the underdog, and you will still win your bet if the team you chose scores more goals than the money line.
The last type of hockey bet is the bet on which team will have the most shots on goal. This type of bet can be very profitable because it is easy to predict which team will have the most shots on goal. However, it is also risky because you could lose a lot of money if you bet on the wrong team.
How to read and understand hockey betting odds
If you’re new to betting on hockey, or even if you’re a seasoned bettor, understanding hockey betting odds can be confusing. However, it’s good to know how odds work to make informed bets.
To start, let’s look at an example of a typical hockey betting line:
Boston Bruins (-1.5) vs. New York Rangers (+1.5)
In this example, the Bruins are the favourites, and the Rangers are the underdogs. The minus sign (-) indicates that the Bruins are favoured to win by 1.5 goals, while the plus sign (+) indicates that the Rangers are expected to lose by 1.5 goals.
If you bet on the Bruins, they would need to win by at least two goals for you to win your bet. If you bet on the Rangers, they would need to lose by no more than 1 goal for you to win your bet.
Now that we’ve covered the basics let’s look at some of the different types of hockey betting odds you might see.
Moneyline Odds
Moneyline odds are the most common type of hockey betting odds. With Moneyline odds, you bet on which team you think will win the game.
For example, let’s say that the Bruins are playing the Rangers, and the Moneyline odds are as follows:
Boston Bruins (-200) vs. New York Rangers (+170)
In this example, the Bruins are the favourites, and the Rangers are the underdogs. The minus sign (-) indicates that the Bruins are favoured to win, while the plus sign (+) indicates that the Rangers are expected to lose.
The number next to the minus sign (-) is called the “line,” indicating how much you need to bet to win $100. In this example, you would need to bet $200 on the Bruins to win $100.
The number next to the plus sign (+) is called the “payout.” It indicates how much you would win if you bet $100. In this example, you would win $170 if the Rangers won the game.
Puck Line Odds
Puck line odds are a type of Moneyline odds specific to hockey. With puck line odds, you bet on which team you think will win the game by at least two goals.
For example, let’s say that the Bruins are playing the Rangers and the puck line odds are as follows:
Boston Bruins (-1.5) vs. New York Rangers (+1.5)
In this example, the Bruins are favoured to win by 1.5 goals, and the Rangers are expected to lose by 1.5 goals.
If you bet on the Bruins, they would need to win by at least two goals for you to win your bet. If you bet on the Rangers, they would need to lose by no more than 1 goal for you to win your bet.
Over/Under Odds
With over/under odds, you bet on whether the total number of goals scored in the game will be more or less than the number indicated.
For example, let’s say that the Bruins are playing the Rangers, and the over/under odds are as follows:
Over 5.5 goals (-110)
Under 5.5 goals (-110)
In this example, you would need to bet $110 on the over to win $100, or you could bet $110 on the under to win $100.
If you bet on the over and there were six or more goals scored in the game, you would win your bet. If you bet on the under and there were five or fewer goals scored in the game, you would win your bet.
Proposition (Prop) Bets
With prop bets, you bet on whether or not something will happen during the game.
For example, let’s say that the Bruins are playing the Rangers, and the prop bet is as follows:
Will there be a fight in the game?
Yes (+150)
No (-200)
In this example, you would need to bet $200 on the no to win $100, or you could bet $150 on the yes to win $100.
If you bet on the yes and there was a fight in the game, you would win your bet. If you bet on the no and there was no fight in the game, you would win your bet.
Futures Bets
With futures bets, you bet on which team you think will win the Stanley Cup before the season starts.
For example, let’s say that the Bruins are playing the Rangers and the Stanley Cup odds are as follows:
Boston Bruins (+700)
New York Rangers (+1000)
In this example, the Bruins are favoured to win the Stanley Cup, and the Rangers are expected to lose.
If you bet on the Bruins and they won the Stanley Cup, you would win your bet. If you bet on the Rangers and they lost the Stanley Cup, you would win your bet.
Tips for increasing your chances of winning when betting on hockey
When it comes to betting on hockey, you can do a few things to increase your chances of winning.
First and foremost, you need to make sure that you understand the game and the various factors that can affect the outcome of a match. This includes understanding the importance of faceoffs, power plays, and special teams’ play.
Additionally, you need to be aware of the strengths and weaknesses of each team, as well as the overall style of play for each squad. Considering all of these factors, you can give yourself a much better chance of placing successful bets on hockey games.
Another important tip for increasing your chances of winning when betting on hockey is shopping for the best lines and odds. Sportsbooks offer different lines and odds on hockey games, so comparing a few options is important before placing your bets. This will ensure you’re getting the most bang for your buck, which could ultimately lead to bigger profits.
Finally, setting aside a budget for your hockey betting activities is also a good idea. Doing so can avoid risking more money than you can afford to lose and keep track of your overall profitability. If you stick to your budget and bet responsibly, you should be able to increase your chances of winning when betting on hockey games.
Hockey Odds FAQs
