NHL Odds and Lines

The NHL expanded into the USA nearly a century ago in 1924, when the Boston Bruins were founded. Since its arrival on US soil, it has grown to become one of the most beloved major league sports in the nation and beyond. To match its widespread popularity and the league's size, sportsbooks have developed a vast NHL betting market for punters to enjoy. 

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NHL betting lines are very similar to those used in MLB. On average, the most placed wager on the NHL is a moneyline bet. A moneyline bet allows you to analyze bookmaker odds and make a predictive wager on the straight-up winner. 

Sportsbooks that cover the NHL will also take future bets on the winner of important events. These include the Playoff Championship and the Stanley Cup. Odds for such events differ widely as the scheduled date draws closer. You will find that many devoted fans will take a risk and place a wager solely on their favorite team to win. Others will wait for the best odds to generate, typically as the time gets nearer to play. 

NHL Odds and Lines in New Jersey

Many top-rated and legal sportsbooks have a foot in New Jersey jurisdiction or operate out of the garden state. These companies are highly competitive and offer some of the best NHL odds around for online and mobile punters. 

At New Jersey sportsbook sites, you will be able to benefit from a variety of betting features. These include enhanced odds and a comprehensive selection of line and point spread bets. The sites are available to you 24/7.

Devils fans, therefore, won't have to miss out on any of the action. You can legally access the latest odds and lines in or outside of the state. However, to place a wager on one of New Jersey licensed sportsbooks, you must be located within the state and over the age of 21. 

One of the more unique line bets in hockey that New Jersey players find thrilling is Puck Line betting, which is similar to the baseball run line. Puck line betting is typically set at 1.5 and is point spread wager on how many goals the team will win by. 

The Latest NHL Odds 

Below we will take a closer look at the latest NHL future odds. With this guide, you will be able to recognize the best way to spend your money. 

Top Sportsbooks in New Jersey for NHL 

As previously mentioned, there is an excellent selection of sportsbooks on offer to New Jersey residents. These operators are reputable, legal, and competitive. You will not only find full coverage of NHL betting markets and games at these sites. They also boast advantageous bonuses, features, and promotions to help you start your sports gambling journey on the right foot.

The top three must-try online sportsbooks for New Jersey gamblers include: 

BetMGM - At BetMGM, you can enjoy a $500 risk-free bet just for signing up. After this, you will also be gifted a $10 weekly bet on the house to boost your success potential. Here you will also benefit from features and promotions such as the Odds Boost.

PointBet - PointBet offers its members an exclusive set of risk-free bets. Firstly you can receive up to $200 in risk-free standard bets twice. Plus, you can also receive a risk-free fixed odds bet of up to $100 and a $100 cashback if you are unfortunate enough to lose the first points bet wager you place. 

SugarHouse -  SugarHouse offers NHL bettors something a little different. Here you will receive a 100% match up to $250 on your first deposit. What makes this bonus even more lucrative is that it only has a 1x playthrough requirement. 

Types of NHL Odds

In sports betting, including the NHL, there are three types of ways in which odds are displayed. They can seem a little daunting to wrap your head around, but once broken down, they are simple to understand. Once you have mastered the art of reading odds, you can also use them to apply conversions to gain implied probabilities. 

American Odds

American odds are the most commonly used and familiar to US sports bettors. First, you need to take note of the plus and minus signs in front of the figure. These symbols represent two very different things. 

Simply put, a minus sign in front of the value indicates the amount of money needed to be staked to win $100.  The plus sign means the potential profit you would get from $100. For example, if the odds were displayed as follows: 

  • Detroit Red Wings -120
  • Dallas Stars +120 

How to Calculate Probability for American Odds

To figure out the implied probability of a game using American odds, you first need to convert the figures into a percentage.

For positive numbers the formula is:

  • Implied Probability = 100/ (positive odds + 100) x 100% = %

Negative figures are a little more complex, the formula used is: 

  • Implied Probability = [Negative American odds / (Negative American odds + 100)] x 100 = % 

The Formula on Calculating Payouts

You can use a mathematical formula to calculate how much you could profit from your wager amount. The method for calculating payouts is:

Potential profit = stake x odds / 100

Fractional Odds

Fractional odds derive from the UK and are displayed as fractions. The right number is the denominator and shows how much you have to stake to win the left figure (numerator) 

For example, if the odds were displayed as follows: 

  • Pittsburgh Penguins 4/1 

You will receive back four times your stake and your original bet if the team wins. 

How to Calculate Probability Based on Fractional Odds

Finding the implied probability percentage using fractional odds is a little more complicated than decimal odds. 

The formula to use is: [Denominator / (Denominator + Numerator)] x 100% = %

How to Calculate Payouts with Fractional Odds

To calculate your potential payout is relatively simple. All you need to do is some quick math of dividing the numerator by the denominator and multiplying the wager by your answer. 

Therefore if your wager on the Pittsburgh Penguins is $10 then the formula would be: 

10 x (4/1)

Decimal Odds

Odds displayed as decimals are the easiest to view and understand. They are commonly used throughout European betting markets and look like this: 

Carolina Hurricanes (2.40) vs. New York Rangers (1.61). 

Calculating Probability for Decimal Odds

Calculating the implied probability is a breeze. All you need to do is divide one by the odds. For example, if you wanted to find the implied probability percentage of the Hurricanes vs. Rangers game, then the calculation is: 

  • Hurricanes = 1/ 2.40 = 0.41666 = 41.7%
  • Rangers = 1/ 1.61 = 0.62111 = 62.11%

How to Calculate Payouts with Decimal Odds

Calculating your potential payouts from decimal odd wagers is also straightforward. All you must do is multiply the wager by the given odds for the team your betting on. 

Therefore the formula looks like this:

Winnings = wager x Decimal odds. 

An example using the above scenario for a $40 bet on the Hurricanes would be: 40 x 2.40 = $96

Understanding Odds 

Many factors impact the odds and lines that bookmakers display. The first of which is the Odds Ratio (OR). In layman's terms, the OR is the likelihood of an event occurring over it not occurring for every single. For example, the odds of the Devils beating the Penguins or vice versa based on a myriad of other statistics.  

When reading NHL odds, it is important to not only remember the OR but also take into consideration The Vigorish. The Vigorish is otherwise known as 'juice' or 'vig'. It is the added commission the sportsbook maker will receive for every bet placed. The higher the juice, the less value a bet has. Ideally, you should use a sportsbook that boasts low juice.  

NHL odds will primarily be displayed as American odds due to its location and the available betting markets that work on lines and spreads. 

Odds in a Money Line

Moneyline betting is simple when you learn to understand American odds.

Using the American odds example from earlier. To receive $100 from betting on the Detroit Red Wings money line, $120 would have to be sacrificed.  Alternatively, if the figure has a plus sign in front like the Dallas Stars', then a $100 winning bet would make a profit of $120. 

The plus sign odd always accompanies the underdog team. They have a higher chance of losing but higher payouts if they win.

Point Spread Odds 

A point spread bet is a little more complicated but easy to understand once you know how to.

A spread bet means you are wagering on the selected team to cover the spread set out by the bookmaker. 

Sportsbooks will display point spread odds with plus or minus decimal figures before the Moneyline value.  

  • Washington Capitals +3.5 (-120)
  • Edmonton Oilers - 3.5 (-120) 

Using this scenario to win your bet on the Capitals means you need them to either win outright or at least cover the spread by losing by less than 3.5 points. On the other hand, if you bet on the Oilers, you will need them to win by 3.5 or more to make a profit. 

Odds in Point Totals

 Point Total or Over/Under betting refers to another figure that bookmakers release with every game. You can wager on if the total points scored in a single game will be over or under a given value. 

For example, if a Philadelphia Flyers vs. Florida Panthers game holds an Over/Under value of 42, and you believe they will score more than 42 you would place an over bet. If you think they're going to fall short of that mark, then an under bet is the best option. 

Futures Odds

A Future odds bet is also known as ante-post or outright bet. To make a future odds bet means to place a wager on the outright winner of an event in the distant future. As previously mentioned, the most typical future bet in the NHL is on conference championship winners or the Stanley Cup. These are long-shot bets with often wild odds and high risk and reward. 

Unique Odds in the NHL 

Since the NHL has been around for so many years, the betting market has grown vastly. It has grown to include some more niche and unique gambling opportunities. The favorite among these unique wagers is proposition betting.

Player-Specific Odds

There are many player specific wagers you can place. For example, how many points a single player will score or the number of assists they will have.

Game-Specific Odds

Game specific wagers are also growing ever popular. With these types of bets, you can punt on occurrences that happen in the game, such as empty nets. You can also place game-specific wagers on events like the Stanley Cup, which opens up unique markets annually. 

 

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Sacha

1 June 2020
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