If you’re new to NHL betting, this NHL betting guide is the perfect cheat sheet to start your journey.
Hockey is one of the fastest sports in the world, but betting on it is actually quite steady and simple. Once you understand the core wagers and the type of NHL odds offered, placing your first bet becomes much more straightforward.
The NHL season runs from October through the Stanley Cup Final in June, with games played almost every night during the regular season. At Bovada, you’ll find plenty of betting opportunities throughout the year, from regular-season matchups to the playoffs and the Stanley Cup Final.
This guide explains the three most popular ways to bet on hockey:
- Moneyline
- Puck line
- Over/under totals
You’ll learn what plus and minus odds mean, how the puck line works, and a few simple NHL betting strategies that can help you make more informed picks.
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NHL Betting Odds Explained: What Does Plus/Minus Mean in Hockey?
One of the first things you’ll see with NHL odds is the plus (+) and minus (-) next to numbers. They represent how much you stand to earn on a win.
Minus Odds
A minus sign identifies the favorite. The favorite is considered more likely to win, so you need to risk more money for a smaller profit.
For example, imagine a team is listed at -150.
A $150 wager would return a $100 profit if the bet wins, plus your original stake. If you bet $15, that would return a $10 profit.
Plus Odds
A plus sign identifies the underdog. Underdogs are considered less likely to win, but they offer a larger return if they pull off the upset.
For example, if a team is priced at +150, a $100 wager would return a $150 profit if successful, along with your original stake. Think of it as your risk gets you a 150% return plus your stake.
Why NHL Moneyline Prices are Closer
Unlike the NBA and NFL, where favorites can dominate regularly, NHL games are often decided by a single goal. The league has great competitive balance, and scoring is more in the soccer range. This means even underdogs have realistic chances of winning on any given night.
Because of the parity, NHL moneyline prices tend to stay much closer to even money. That creates genuine opportunities for bettors to find great odds with proper stats and research.
The Plus and Minus in NHL Puck Lines
While moneyline odds and puck line odds both use plus and minus signs, they don’t work the same. The puck line is a 1.5-goal handicap of the game – like an NFL spread for hockey.
For that reason, you’ll see +1.5 or -1.5 on a puck line, and beside that spread, you’ll see the odds or cost of the line.
It tends to look like this:
- +1.5 (-150)
- -1.5 (+130)
The +1.5 underdog line costs $150 to win $100. We’ll explain why minus money is attached to the +1.5 spread below.
Moneyline, Puck Line, and Over/Under: How Each NHL Bet Works
NHL Moneyline Betting
Moneyline betting is the simplest way to bet on hockey. You simply choose which team will win the game.
For standard NHL moneyline markets, the winning team is determined after overtime or a shootout if necessary, so you don’t need your team to win during regulation.
Moneyline betting is a popular option for beginners because there are no handicaps or point spreads to worry about.
The NHL Puck Line
As we mentioned, the puck line is hockey’s version of an NFL point spread.
However, unlike pro football, where spreads vary from game to game, the NHL puck line is almost always set at 1.5 goals.
Here’s how it works: If you bet the favorite at -1.5, your team must win by two goals or more for your bet to cash. Winning by a single goal is not enough.
If you bet the underdog at +1.5, your team can do either of the following:
- Win the game outright
- Lose by exactly one goal
Either result wins your wager.
Because many NHL games finish with only a one-goal margin, that extra goal and a half can be extremely valuable. For that reason, you’ll usually see a +1.5 underdog with minus money attached, or a -1.5 underdog with plus money attached.
NHL Over/Under Betting
Rather than picking a winner, over/under betting focuses on the total number of goals scored by both teams.
The sportsbook sets a projected total. You then choose whether the combined score will finish over or under that number.
For Bovada NHL odds, goals scored in overtime count toward the final total. Also, in the event a game is decided by a penalty shootout, one goal will be added to the winning team’s score and the game total.
Many bettors use over/under markets when they have a strong opinion about:
- Starting goaltenders
- Team playing styles
- Offensive pace
- Defensive matchups
- Teams playing on consecutive nights
If you expect an open, attacking game, the over may have more appeal. If you anticipate a defensive battle with strong goaltending, the under should look better.
NHL Betting Strategies for Beginners
Successful NHL betting isn’t about guessing. It’s about understanding what factors can influence a game before placing your wager.
Here are a few beginner-friendly strategies.
Pay Attention to the Starting Goaltenders
No single player affects a hockey game more than the goaltender.
An elite goalie can keep a team competitive even when they’re being outplayed, while an off night can quickly change the outcome.
Before placing any bet, check who is expected to start in goal.
Consider the Puck Line in Close Matchups
Heavy favorites don’t always win comfortably. Many NHL games are decided by a single goal, especially between divisional rivals and evenly matched teams. Because of that, taking the underdog at +1.5 goals can sometimes offer attractive value when you expect a competitive game.
Compare Prices Before Placing Your Bet
Small differences in odds can improve your long-term results. This is especially true on puck line markets, where prices often vary more than standard moneylines.
Take a moment to compare available prices to help ensure you’re getting the best possible value.
Use NHL Statistics to Support Your Picks
Stats can provide valuable context before placing a wager.
Team scoring rates, penalty killing, power-play efficiency, shot generation, and goaltending numbers can all help explain why a matchup may favor one side.
The NHL stats guide is a useful resource for understanding these trends before making your selections. You can also explore the NHL betting stats guide for additional insight into betting-specific numbers and matchup analysis.
What is NHL Betting?
NHL betting is the process of wagering on games played in the National Hockey League.
The league features 32 teams, each playing 82 regular-season games between October and April before the Stanley Cup Playoffs begin. The postseason concludes with the Stanley Cup Final in June.
At Bovada, hockey bettors can choose from a wide variety of markets, including:
- Moneyline
- Puck line
- Over/under totals
- Player props
- Futures
Whether you’re betting on a single regular-season game or trying to predict the next Stanley Cup champion, you’ll find a full range of Bovada NHL odds throughout the season.
NHL Betting: Frequently Asked Questions
How does NHL betting work?
Choose a betting market such as the moneyline, puck line or over/under, then place your wager before the game begins. Your bet wins or loses based on the final result according to the market’s rules. Check the latest Bovada NHL odds before making your pick.
What is the puck line in NHL betting?
The puck line is hockey’s version of a point spread and is almost always set at 1.5 goals. The favorite must win by two or more goals, while the underdog can lose by one goal and still cover the puck line. See the full explanation in the puck line section above.
How do moneyline, puck line and over/under bets work in hockey?
Moneyline betting means picking the winner of the game. Puck line betting applies a 1.5-goal handicap to each team. Over/under betting focuses on whether the total goals scored finish above or below the sportsbook’s projected number. See the moneyline vs. puck line vs. over/under section above for a complete breakdown.
What does plus/minus mean in NHL betting odds?
A minus sign identifies the favorite, meaning you risk more to win less. A plus sign identifies the underdog, meaning you risk less to win more. The hypothetical payout examples above show exactly how both work.
What are the best NHL betting strategies for beginners?
Start by checking the expected goaltenders, look for value on underdogs receiving +1.5 goals, compare odds before placing your bet, and use the NHL stats guide to support your decisions. Combining these simple habits can help you make more informed NHL bets throughout the season.
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