Sharpen your NHL moneyline betting with these simple money-making tips.
Moneyline betting in hockey is not only one of the simplest ways to bet on the sport, but it’s also one of the most fun.
We break down how it all works and include some tips and tricks for you to make smarter NHL picks.
Moneyline betting is the most common and straightforward way to wager on the NHL — all we need to do is pick the winner of the game. The beauty of the moneyline (ML) bet is we’re wagering on the same outcome that teams are playing for: a victory.
In NHL moneyline betting, there is usually a betting favorite and an underdog listed in American odds. Moneyline favorites have negative odds (-200), and the underdog has positive odds (+180).
Using the example below, the Toronto Maple Leafs are the betting favorite with the -200 odds while the Montreal Canadiens, as the underdog, pay +180 to win.
In this type of moneyline betting (two-way ML), there are only two options to bet on: Toronto to win (-200) or Montreal to win (+180). Most ML bets include overtime if both teams remain tied after the third period.
In the ML example above, bettors taking the favorite Leafs at -200 would need to wager $200 to win $100. Bettors who like the underdog Canadiens would win $180 on a $100 bet.
Sometimes books will offer us a less traditional three-way moneyline that resembles more of a soccer bet. In three-way moneylines, we have three choices, with one of them being a tie.
Of course, NHL games no longer finish tied, meaning all three-way bets settle after three periods, and the overtime results are irrelevant to the bet.
In the example below, Toronto remains the favorite at -200, while Montreal is the underdog at +180. Now, we have a third option, which is the draw at the end of regulation at +305.
This bet is settled after the end of the third period and does not include overtime. If Toronto wins after 60 minutes (regulation), then the -200 bet wins. However, if the game goes to overtime and Toronto wins in a shootout, the draw, or tie, +305 wager will win, and the Toronto -200 bet will be a loser.
Use our moneyline calculator to help you with your NHL moneyline betting strategy. With our odds calculator, you can enter odds values to view potential payouts and convert odds to a different format, such as fractional or decimal odds. You can also use it to determine the implied probability of a team winning, based on its moneyline odds.
There are a handful of things to consider when betting on NHL moneyline odds. Sharpen your skills with these hockey betting tips.
Getting to information early and making informed bets is the best thing NHL moneyline bettors can do. Like other sports, knowing which key players are in or out of the lineup is valuable information.
In hockey, goalies are critical for a team’s success. Knowing which netminder is playing is something all good NHL moneyline bettors know before placing a wager.
Suppose our news and analysis page doesn’t have the matchup you want. In that case, most lineup information can be found in the scores and matchups section, which will help bettors navigate each team’s lineups and injuries. You can also find free expert picks and predictions on our NHL Picks page.
Just like with all our other bets, we should always shop around and find the best price. Sometimes, while doing this, we will encounter significant price discrepancies that we should take advantage of; these include moneyline bets. Visit our NHL odds page to view ML prices and compare them across the board quickly. Maybe we’ll find a book that is late to move a line.
Some teams win more on the road than at home. Some teams win ML bets more when they aren’t the favorites. Following trends for NHL moneyline betting is another critical tool all bettors should be using before placing a wager. Our Covers’ trends page quickly sorts through some of the more important league trends, which helps us build our bankrolls.
Moneyline betting is simple: pick the winner. However, many other NHL betting markets are available, with puck line betting one of the more popular ones.
Puck line betting is more similar to point spread betting, and a team needs to win by, or cover, a certain number of goals to win the bet. In NHL puck line betting, the line is almost always -1.5 and +1.5. For a team to cover a -1.5 puck line bet, it would have to win by two or more goals.
Puck lines are usually a less probable outcome, but the odds represent that as puck line odds are much higher than moneyline bets. For +1.5 puck line bets to win, the team cannot lose by more than two goals. +1.5 puck line bets pay much less than -1.5 bets.
Make smarter NHL bets with Covers. These guides dive into other ways you can bet on NHL action:
In two-way moneyline betting (no draws), overtime is included. However, in three-way moneyline betting where there is a draw (tie) option, overtime does not matter as the three-way bet is settled after 60 minutes.
If we bet $100 on an underdog paying +255, we would profit $255 plus receive our initial $100 wager back.
Bettors can check out Covers’ scores and matchups page to find a ton of valuable handicapping information to help make more accurate NHL betting predictions.
Josh Inglis is a rising star in the sports betting content space, specializing in MLB, NHL, and NFL markets. Since joining Covers in 2019, Josh has focused his betting expertise on player props and derivative markets, finding them easier for beating the closing line compared to sides and totals. His engaging analysis and content have been showcased on major networks such as TSN, VSiN, BetMGM Network, and NBC. Josh is a prolific bettor, tracking over 2,500 bets annually and he consistently shares his results through monthly transparency reports. At Covers, he is renowned for his MLB release shows and NHL Puck Props, which are integral parts of the site’s live content lineup.
Before his tenure at Covers, Josh spent a decade teaching while pursuing sports media on the side. He has also contributed to live global senior-level broadcasts for the WBSC.
Josh advocates for sports bettors to bet early, emphasizing the importance of securing better numbers by beating the public to the market. He also advises having multiple sportsbook accounts to ensure access to the best possible odds.
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