Only one team can skate away with a victory in any game in the NHL, and you can say the same about moneyline betting. Just pick the winning team, and we've got ourselves a winning moneyline bet.
What is the moneyline in hockey?
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 that we are 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, Toronto is the betting favorite with the -200 odds while Montreal, as the underdog, pays +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 three periods.
|Toronto Maple Leafs||-200|
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.
Three-way moneyline explained (60-minute bets)
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 this example below, we still have Toronto as the favorite at -200 and Montreal as 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.
|Toronto Maple Leafs||-200|
|Draw at the end of regulation||+305|
NHL moneyline calculator
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 see the implied probability for a team to win, based on its moneyline odds.
NHL moneyline betting tips and strategies
There are a handful of things to consider when betting on NHL moneyline odds. Sharpen your skill with these hockey betting tips.
Research the lineups
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 teams’ lineups and injuries.
Find the best odds
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. Hit our NHL odds page to quickly look at ML prices and how they compare across the board. Maybe we’ll find a book that is late to move a line.
Follow NHL betting trends
Some teams win more on the road than at home. Some teams win ML bets more when they aren’t the favorite. 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.
Puck line vs. moneyline
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 amount 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.
NHL betting tips and strategies
Make smarter NHL bets with Covers. These guides dive into other ways you can bet on NHL action:
- Tips & Strategies to Win NHL Puck Line Bets
- Learn to Win NHL Over/Under Bets
- Learn How to Make Hockey Parlay Bets
NHL moneyline betting FAQs
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.