How to Bet on Hockey
After years of watching the NHL, it may be time to consider making some money off your passion. But how to do that? Well, a quick way is to start betting on the games you love to watch.
So, you decide to do a simple Google search and BAM! Moneylines, puck lines, over/under, Grand Salami, and many other terms assault your senses. But what does it all mean?
Don’t worry! We’ve got you covered. The following guide will teach you everything you need to know about betting on hockey.
Before you can start to lay out cash on your favorite team, you need to know the game! If you’re new to hockey in general, I highly recommend you learn the game before continuing!
Betting on hockey is fun, exciting, and potentially lucrative. But to understand the ins and outs of betting, you will need to know the ins and outs of the game itself. So, if power plays, shootouts, penalty boxes, and offsides still confuse you, read up on the game before throwing away your money.
Next, we will look at some Hockey Betting terms to know.
Hockey Betting Terms and Definitions
Alright, it is back to school time! We’re going to learn a lot of new words and grasp a few new concepts once we’re done with this section.
Moneyline: This is the odds for which team will win the game. It is represented in three different formats, American, Decimal, and Fraction. Decimal odds are represented by a decimal number, such as 2.65. This means that whatever you bet is multiplied by 2.65, and that is what you will receive if your bet wins.
Fraction odds are more confusing and look like 10/1 or 20/39. The amount you can win is represented by the number on the left, and the amount you have to risk is represented by the number on the right. For instance, 10/1 odds would pay $100 for a $10 bet.
This format is usually only used for larger bets, but you may see it from time to time in the moneyline.
American odds are much harder to grasp at first, but they are the favorite of most people. This is represented by a positive number for the underdog and a negative number for the favorite.
For the underdog, the number is how much you can win on a $100 bet. The favorite is how much you need to risk to win $100. An example is a game between Nashville (-180) and Winnipeg (+160). Nashville is favored to win the game, and you would need to bet $180 to win $100. Winnipeg is the underdog, with a $100 bet winning $160.
If you notice, their numbers aren’t even. This is to cover what is called the book’s juice, or commission. More on that later.
Puck Line: This line is much easier to understand, as most sports fans are familiar with the basic principle. Other sports would refer to this as the spread. In hockey betting, the puck line is a bet on whether the favorite will win by two goals or more versus the underdog losing by one goal or winning.
In hockey betting, the number of goals on the regular puck line does not change. This will always be plus or minus 1.5 with the .5 to prevent a tie.
Totals (Over/Under): This is a bet on the number of goals scored by both teams in the game. The odds will be for either over that number or under that number.
Live Betting: This is when bets are placed throughout the play of the game. Odds are adjusted throughout the game.
Period Betting: Placing bets on the outcomes of individual periods.
Alternate Lines: These are betting lines that differ from the regular money, puck, and totals lines. Odds are usually higher for these bets.
For example, a normal puck line may be -1.5 +135, and the adjusted would be -2.5 +325.
Props: Props betting focuses on specific occurrences within the game and not the outcome of the game itself. For instance, betting that Vladimir Tarasenko will score a goal in the game or Jake Allen will stop more than 30 shots.
Parlay: A parlay is where you tie multiple events (two or more) up into one wager.
Futures: Futures betting is where you will bet on things happening later in the future, not tonight’s game. Most futures betting is around Stanley Cup winners, conference finals, making the playoffs, or winning specific trophies.
Team Totals: This is an over/under bet on goals scored by one team in the game, not both.
Grand Salami: This is an over/under bet on the total number of goals scored in all games played in one night.
Reduced Juice: This is when a sportsbook is running a lower commission on its lines than the industry standard.
Dime Line: This is where a line is set to be only 10 points or “cents” different. For example, a line of -120 and +110 would be considered a dime line.
Sharp Money: A term used to describe where the expert bettors are placing their money.
Hedge: This is a way to protect yourself by betting against a previous bet.
ROI: This is an acronym for Return on Investment. Commonly used in stock markets, it has been adapted to the betting world to reference how much money you are getting in exchange for how much you are risking. Most sports bettors are very happy with a two to three percent ROI.
Edge: This is the advantage you think you have on a specific bet. For example, if you think you have a 75 percent chance to win a bet, but the odds are showing it at 50/50, you have a 25 percent edge. These numbers are fictitious as there is no way of attaining that level of certainty in betting.
Bankroll: This is the amount of money you have put away specifically for the use of hockey betting and are comfortable losing.
Betting Unit: This is a percentage of your bankroll you use as a standard bet.
Flat betting: This is where the number of betting units you wager every game doesn’t change.
Line Movement: This is when the odds for a game change. Many factors affect the odds, and things change continuously leading up to the start of play.
Reverse Line Movement: This is where a large number of people are betting on a certain outcome, but the lines move in the opposite direction. This usually indicates that sharp money is going against public opinion.
Now that some basic terms are defined, there are a few things left to discuss.
Hockey Betting Site Rules
You need to know the rules of where you’re betting on hockey. Every site has different specific rules, so you should familiarize yourself with them. Here are the basics of what you need to know before placing a bet.
Hockey games are divided into three periods of 20 minutes each. Each game you bet on must play a minimum of 55 minutes. Your bet should be refunded if the game is suspended before 55 minutes of play occur. Once 55 minutes are up, whether the game is suspended or not doesn’t matter. The final result will be recorded as the current score.
All bets are determined by the final score of the game. This score will include overtime and shootouts. So how does this work? First, overtime scores are valid. If a team scores in overtime, it is added to the score of the game.
But what about when they’re tied after overtime and there is a shootout? Simple. The team that wins the shootout has one point added to their final score and is declared the winner for betting purposes.
This should give you the basic information you need to start making a few dollars betting on hockey. One more important thing to remember! Never bet with your heart. Use your brain to see the numbers and the logic of what you’re betting on. Good luck out there!