NHL Betting - Odds & Betting Lines

NHL Betting 2023

The NHL playoffs are already one of the most exciting events in all of sports and betting on the NHL ups the ante even further. There are no shortage of NHL betting promos to take advantage of throughout the Stanley Cup playoffs so be sure to look for those when signing up for an online sportsbook.

Below we’ll give you a bit of a starter guide on the different types of NHL bets and how to read them.

How to Bet on the NHL Playoffs

No matter what type of NHL bet you want to place, it all starts with signing up for one of our recommended sports betting apps. The registration process is generally the same across all online sportsbooks, so here’s an example using BetMGM.

  1. Click BET NOW to sign up for a BetMGM Sportsbook account.
  2. Enter bonus code USBETTING.
  3. Get a $1,000 first bet bonus for the NHL playoffs.

By taking advantage of an online sportsbook promo, you can set yourself up for success. With BetMGM, if the first wager you place results in a loss, your stake will be matched as a bonus bet up to $1,000, giving yourself a safety net in case your first bet goes awry.

NHL Moneyline Bets

NHL moneyline bets are the simplest bet type you’ll find, as you’re just wagering on who you think will win. If the team you bet the moneyline on wins, you win.

The moneyline odds in NHL will give you a sense of who is favored to win a particular playoff game and who is the underdog. The team with a “-” next to its odds is the favorite while a “+” denotes the underdog. The higher the number, the heavier the team is expected to be as a favorite or underdog.

Here’s an NHL moneyline example from Game 1 of the series between the New Jersey Devils and New York Rangers:

  • Rangers +110
  • Devils -130

Sportsbooks are expecting this to be a close game as the odds are quite close. During the regular season, you can expect to see these numbers with a much higher range as there tends to be a team that is heavily favored in a given matchup.

You can also use these odds to figure out how much you stand to profit if your bet hits. Using the Rangers/Devils example, a $100 wager on New Jersey would result in a $110 hit if they win. For the Devils, however, you would have to wager $130 to win $100. Calculating your potential payout isn’t necessary, however, as your sportsbook of choice will automatically do this for you in your bet slip.

NHL Spread Bets

NHL spread bets are commonly referred to as the “puck line” and betting on them serves as a margin of victory that your team either has to win by more than or lose by less than.

Throughout the NHL playoffs, the spread will usually sit at 1.5 goals. Similar to moneyline odds, the team with a “-” beside the puckline is your favorite. In the Rangers/Devils example, the Devils would be -1.5 on the puck line while the Rangers are +1.5. This means for your NHL spread bet to hit, the Devils would have to win by at least 2 goals for a successful wager. On the other hand, the Rangers could lose by a goal (or win outright) for a winning bet.

NHL puck line bets tend to provide better odds than the moneyline in cases of betting on heavy favorites, especially during the regular season when there’s a much higher chance of a very strong team going up against a basement dweller.

NHL Over/Under Bets

NHL over/under bets, sometimes referred to as totals or goal totals, are wagering on the combined number of goals scored in a given NHL playoff game. Each sportsbook sets a goal total for a game and bettors are tasked with deciding whether the combined total will be over or under that number.

In Game 1 of the Devils vs. Rangers series, the over/under is set at 5.5 across most online sportsbooks. If you take the over, you would need the two teams to combine for six goals or more to cash your bet. Conversely, a goal total of five or less would result in a win for under bettors.

NHL over/unders will fluctuate depending on the strengths and weaknesses of a team’s offense, defense, and goaltender play, as well as any key injuries. If Connor McDavid is injured and the Oilers are facing a team allowing just 2.5 goals per game, you can expect to see that reflected in the over/under.

NHL Parlay Bets

An NHL parlay bet is when you combine two or more bets (referred to as legs) into one single wager.

Parlays are a great way of lengthening your odds and therefore increasing your potential payout. We’ve all seen the screenshots of a bettor turning $5 into a huge payday through a 15-leg parlay.

NHL parlay bets should be used sparingly, however, because with increased odds comes increased risk. Each one of your legs has to hit in order for your parlay to win.

If you place a five-leg NHL parlay bet and just one misses, your entire wager is shot.

NHL Prop Bets

Prop bets across all sports have exploded in popularity over the past few years and the NHL is no different.

Prop bets allow you to place a wager on something that isn’t necessarily tied to the outcome of a game. You can place NHL prop bets on a team level or individual player performances.

NHL player prop bets are the most popular as you can wager on the over/under of a specific statistical category. This includes markets like points scored, goals scored, assists, blocked shots, and shots on goal.

If you think a particular player will have success or struggle in a specific matchup, player props allow you to capitalize on that without worrying about who wins the game at hand.