We don’t have to explain too much how big of a fanbase the National Hockey League has. This isn’t a regional sport we are talking about, but one of the top five in the whole world.
Still, despite its popularity, the fans and the visitors who drop by here need to know certain things regarding current odds and futures. When there is money involved, one needs to have the best possible updates and information before making any decisions.
This is the place where you have everything about NHL odds and NHL futures, therefore, dedicating five minutes of your time is absolutely necessary.
NHL Odds
How to Read NHL Odds
NHL Odds are shown in three different formats (versions):
How to Read American Odds – Moneyline
Some might have problems with the moneyline. Most of the world isn’t into this way of presenting the odds, but it really isn’t tough at all. It looks more complicated than it actually is.
Moneyline is the dominant way of displaying odds in the United States. Everything here revolves around the $100 figure, so keep that in mind.
The favored team will always be represented by a negative number, while the underdog will have a positive number near its name.
Here’s an example:
- St. Louis Blues -140
- Detroit Red Wings +160
The Blues are the favorites in this case, and the Red Wings are the underdogs. So, if you want to bet on the Blues, earning $100 would require you to stake $140. On the other hand, if you want to pick the Red Wings, you would need to place a $100 bet to potentially win $160.
Now, what do these American odds really display?
The answer is the strength of the respective teams.
For example, if the negative number is very high, let’s say -600, that team is an absolute favorite because, on the other side, the underdog is +500. The bigger the gap between the two sides, the bigger the difference between them is.
Spread Betting
The American odds are also available for spread betting. For your info, the spread is invented to level the chances between two units by adding or deducting goals.
Take a look at the next example below:
- Tampa Bay Lightning -2.5 (-110)
- Dallas Stars +2.5 (-110)
Tampa Bay is expected to win by a 2.5-goal margin, making them the favorites. Conversely, the Stars are the underdogs. So, if your pick here is Tampa, that would mean they need to win by at least three goals. On the other hand, you can bet on the Stars, too, and they have the luxury to lose the match up to two goals or win.
How to Read Decimal Odds
This is the most frequent way of showing odds. You can see it pretty much everywhere, and to be honest, it’s mathematically the easiest to explain. It’s in decimal numbers and displays the multiplication of your initial stake in case you have the winning bet.
Here is an example:
The Colorado Avalanche is facing the San Jose Sharks.
- Colorado Avalanche 1.60
- San Jose Sharks 2.85
If you bet on the Avalanche and they win, your stake will be multiplied by 1.6.
For example, if you lay a bet of $10, the winnings will be $10×1.6, which is $16, $10 you invested, and $6 as a profit. If you bet on the Sharks, the multiplicator will be much higher, 2.85, but that’s because their chances to win are much lower, and the risk is greater. Thus, the reward.
How to Read Fractional Odds
These odds are very frequent in the UK and Europe. They are also present in other parts of the world, but we can say that they dominate in this area. They, too, have a display of the invested money and the potential return.
Check this out:
The Pittsburgh Penguins are 2/5 to win against the Nashville Predators, whose win is 3/1.
The math here goes like this: the Penguins are favorites, and the Predators are underdogs.
When the first number of the fraction is smaller than the second, the team is the favorite. You will need to stake $5 to win two if they win. It’s the opposite for the underdogs, where if Nashville triumphs, the bettor earns $3 on $1 invested.
Calculating the winnings with fractional odds looks tough, but it really isn’t. You are backing the Penguins to win at 2/5 with a $10 bet. You simply multiply the stake with the first number ($10×2) and, after that, split it with the second (5).
($10×2)/5= $20/5= $4 which is your profit.