Whether you’re new to NHL betting or have some experience, understanding how to calculate odds is essential for making smart wagers. NHL betting includes a variety of wager types, each with different odds formats and calculations. Let’s break down how to interpret and calculate these odds so you can confidently place bets on hockey games.
Understanding Different Types of NHL Odds
When betting on NHL games, understanding the three primary types of odds—Moneyline, Puck Line (point spread), and Over/Under (totals)—is essential. These betting options are the most common ways to wager on NHL matchups.
Moneyline Odds
Moneyline odds in NHL betting are straightforward. You simply pick which team will win the game. Here’s how to calculate winnings:
- Favorites: Represented by a negative number (e.g., -150). This means you need to wager $150 to win $100.
- Underdogs: Represented by a positive number (e.g., +200). This means a $100 bet will win you $200 if the underdog wins.
For example, if the Boston Bruins have -175 odds against the Dallas Stars (+155), you would need to risk $175 to win $100 on the Bruins, while a $100 bet on the Stars could win you $155.
Puck Line Odds
The puck line is hockey’s version of a point spread. Typically, the favorite is given a handicap of -1.5 goals, meaning they must win by at least two goals for the bet to pay out. Conversely, the underdog (+1.5) can lose by one goal and still cover the spread.
For example, if the Bruins are -1.5 at +180, a $100 bet would yield $180 in profit if they win by two or more goals.
Over/Under (Total) Bets
With over/under betting, you wager on the total number of goals scored in a game, regardless of which team wins. Oddsmakers will set a goal total, often between 5.5 and 6.5 goals, and you bet on whether the actual score will go over or under this number.
How to Calculate Implied Probability from NHL Odds
Calculating implied probability helps you understand what the odds say about a team’s chances of winning.
Using Moneyline Odds to Calculate Probability
For positive moneyline odds (e.g., +180), the formula is:
Implied Probability (%) = 100 / (Odds + 100)
For negative moneyline odds (e.g., -150), the formula is:
Implied Probability (%) = -Odds / (Odds + 100)
For example, if a team has +200 odds, the implied probability is 33.3%, meaning the team is given a 33.3% chance of winning. If another team has -150 odds, their implied probability is 60%.
Understanding Decimal and Fractional Odds
Decimal and fractional odds are alternative formats for representing odds, especially popular outside of North America. Decimal odds (e.g., 2.50) tell you the total return per unit staked, while fractional odds (e.g., 3/1) represent the potential profit relative to the stake.
Learn more about how to understand sports betting odds here.
Tools and Tips for Calculating NHL Odds
Using Betting Calculators
Several betting odds calculators (like ours) can help you determine potential payouts or implied probabilities based on the odds you’re given. These tools simplify the calculations and help you make quicker betting decisions.
Comparing Odds Across Sportsbooks
Different sportsbooks offer different odds for the same games, so it’s important to shop around to ensure you’re getting the best possible value. Even a slight difference in odds can have a significant impact on your long-term betting success.
Identifying Value Bets
Finding value bets means spotting odds where the implied probability is lower than your own assessment of the game. For example, if you believe a team has a 50% chance of winning, but the odds imply a 40% chance, that could be a value bet worth pursuing.
Advanced NHL Betting Strategies
Shopping for the Best Odds
Always compare odds across multiple NHL betting sites before placing your bet. Some platforms may offer slightly better odds, which can significantly increase your payouts over time.
Factoring in Team Performance and Stats
Analyzing team performance, including recent form, injuries, and offensive/defensive stats, is key to improving your chances of success. Keep track of how teams perform in various situations, such as back-to-back games or when facing divisional rivals.
Managing Your Bankroll Effectively
One of the most overlooked aspects of betting is managing your bankroll. Set a budget for each bet and stick to it. Avoid risking too much on a single bet, no matter how certain it seems. Even professional bettors practice careful bankroll management to avoid significant losses.
By understanding these concepts and applying them to your NHL betting strategy, you can become a more informed bettor and increase your chances of long-term success.