Betting Odds Explained
American Odds (MoneyLine Odds)
Moneyline odds are most often used by American sportsbooks and thus have earned the name American odds. With this format the odds are stated as either greater than positive 100 or less than negative 100. The positive odds indicate that the team is the underdog and the odds state how much you would win from a $100 wager. For example, if the Toronto Maple Leafs NHL odds were +120, this means that you would win $120 from a $100 bet. The negative odds indicate that the team is the favourite and the odds stated reflect how much you must wager to win $100. For example, if the Ottawa Senators NHL odds were -135, this means that you would have to wager $135 to win $100.
Decimal Odds are most popular at non-American sportsbooks. The decimal odds display the total amount you would receive back from a wager. For example, the Toronto Maple Leafs decimal odds would 2.15 because you would receive a payout of $2.15 for every $1 you wager. The Ottawa Senators decimal odds would be 1.74. It’s important to note that decimal odds include both the wager and the winnings.
With over/under bets you are betting on whether you think the total amount of goals in a game would be over or under a certain number. The most common over/under total in the NHL today is 5.5. So if you think the hockey game is going to have 6 or more goals you would be the over and if you think there will be 5 or less goals you bet the under.
Prop bets are single bets placed on smaller outcomes within the game. Some common NHL prop bets include the first period line, which team scores first, which team scores 2 goals first, which team gets the first penalty, player vs player point bets, etc. You can make a prop bet on pretty much anything. These are great for making the game extra interesting. Bodog is the best place for making NHL prop bets. Prop bets are only allowed as single bets. Parleys, if-bets, etc, are not allowed with prop bets.
Futures bets are wagers placed on outcomes that will happen in the future. A common NHL futures bet would be which team will win the Stanley Cup this year. You can bet on the Stanley Cup champion at anytime through the year, but the odds will change depending on the general perception of that team and their likelyhood of success.
Hopefully this page cleared up any questions you may have had in regard to NHL betting. Good luck with your wagers!