American odds, also known as Moneyline odds, are the most popular odds type in the US. With American odds, users are provided with a number that represents the amount they would need to bet to win $100. It’s best that you know how to read odds in the American format first. There are two different types of American odds: positive and negative. Odds are simply the way prices and payouts are shown at a horse track. The numbers displayed as 4-7 or 2-5 tell you what you pay and how much you get back if the horse you bet on wins. The first number tells you how much you could win, the second number is the amount you bet. So, if the odds are listed as 2-1, you’ll get $2 for every $1 you bet.

Thanks for visiting ExplainBettingOdds.com, where we will help you understand exactly how to read NHL betting odds. The NHL is a fast-paced sport, complete with a ton of action and wild entertainment. And with 82 games during the regular season, plus the playoffs, that provides both oddsmakers and bettors alike with a lot of opportunities when it comes to betting lines for the sport. The NHL has a number of different betting odds which are formed during the season for each matchup. Here on this page, we detail what types of lines you will see online sportsbooks come out with during the season, and explain them so that they are easy to understand. The NHL is definitely a different type of sport to wager on than for example the NFL. Actually, Major League Baseball betting lines could be compared most similarly to that of the NHL. So let's check out what betting lines you can expect to see formed for the NHL.

How To Bet On The Spread In The NHL

The NHL Goal line is a type of spread installed for each game on the schedule during the week. But unlike the NFL or NBA, the NHL goal line is a set number a 1.5 goals. A team will then be set in the role of having to cover that spread, which is always the team that is set as the favorite on the moneyline. We will get into the moneyline further down below. But for this purpose, consider the team that has to cover the 1.5 goal line with a two-goal win or more as the favorite to win the game out right. Every game is installed with this goal line, though most of the time the team picked as the one having to win by two goals or more is not the favorite to cover the spread. That's because statistically, the majority of hockey games are decided by one goal or less, or result in a tie. Payouts around the goal line can actually vary quite a bit, and you can see some big disparities between the team having to win by two or more goal, and the one that can still lose by a goal and cover.

Article: How To Read Point Spreads

NHL Moneyline Betting Odds Explained

• The odds for a favorite team to win the game are usually listed with a '-' sign, which indicates the amount a better would need to bet to win $100. For the underdogs, the odds are accompanied by a '+' sign. This shows how much a better would win if they staked $100. Let's see this in action.
• Odds are displayed in either American, Decimal, or Fractional formats, and serve two purposes: They signal the implied probability of the outcome they are attached to They indicate how much money you could win betting on that outcome.Be careful relying on the odds alone when evaluating the probability an event will occur.
• Odds represent the likelihood of an outcome occurring. In sports betting, each team is assigned odds that represent the likelihood of them winning the game. When the odds for two teams are even, meaning 1 to 1, it means that each team is equally as likely to win the game.

Just like a goal line, every match up in the NHL is installed with a moneyline. This is a straightforward wager, where the bet is placed on the team to win the game outright, with no goal line or any type of spread involved. If you bet on the Canucks to beat the Islanders, the bet is won if Vancouver wins the game, no matter what the score is. This sounds easier right? Well it is. But you can see a disparity in the payouts. The favorite on the moneyline will obviously payout quite a bit less than a bet that would be made and potentially won on the underdog.

Here in this moneyline example, the Canucks are set as -300 favorites on the betting line. That means for every $3 wagered on Vancouver to win, a $1 profit is returned. In the role of the underdog, New York is going off at 2/1 on the payout.

NHL Over / Under Bets Explained

The goal total betting line is a game line set down with the total number of goals for a game between both teams. Oddsmakers will research the two teams, and then come up with an over/under goal total for the specific matchup. The wager is made on the actual scoring total of the game going higher, or lower, than the oddsmakers' prediction. Payouts for this wager are right around even.

Article: How To Read Over / Under Betting Odds

NHL Team Props Explained

NHL Team prop betting odds are lines formed for games and during the season that do not really relate to the direct outcome of the game. For example, a team prop in a specific game might be something like the first team to score a goal in the match up. The bet is placed, and once the first team puts one in the back of the net, the bet is closed. The rest of the game does not have any effect on the outcome of this particular wager. Prop betting odds reduce many of the variables in a game, and are smaller bets within a game. By smaller, we do not mean the amount that can be wagered; only that it's not a bet on the outcome of the game.

NHL Player Props Explained

Player prop betting odds for the NHL are just like team props, only related to specific players. Within a game, we could see as many as 30 or 40 prop betting lines set down for players. They range in nature, and typically revolve around the number of goals or assists, or a combination thereof for players during the game. The bet is made on the number installed for a player, whether it be one goal or 1.5 goals or whichever number. The wagered would then be made on the actual total going over or under that installed number from oddsmakers and online sportsbooks.

How To Read NHL Live Betting Odds

Betting live on sports is definitely something that is becoming more and more popular in this day and age. With the increase in technology and the accessibility of online sportsbooks, live betting is available right at your fingertips. As far as the NHL is concerned with live betting, it is available for games. Not every single game is available for live betting, but online sportsbooks will establish which ones are. From there, the available betting lines will also be shown. Alternate moneylines, team and player props are what are typically available. With live betting, odds are obviously changing every couple of minutes, making for a fun and exciting way to bet sports.

How To Read Stanley Cup Betting Odds

Stanley Cup futures wagers are a betting line which is formed during the season. In fact, these odds come out the day after the championship from the previous season is won. The bet is placed on the odds to win the Stanley Cup for the upcoming or current season. These odds are not set in stone, and do change during the season as teams do well, or fall out of contention.

Bovada Sportsbook - NHL Games Big On Bovada!

The reason that may fans come and sign up for an account with Bovada is because of the variety of games that can be bet on. Hockey is a sport that goes know but barely talked about but is still bet on often. Bovada knows that even though there are a few hockey fans everywhere, having the games on their sportsbook only means that more players will sign up and wager on NHL soon as the puck drops. This means that live betting feature that is present to all account holders can be very busy when it comes to all these games that last a few hours sometimes.

There are so many different money lines and also different betting odds that will be here for players to check out. The fact that there are many different prop bets here as draws a huge crowd of players and that means more and more players will drop money on a bet that could win them a lot of money. Check out the bonuses as well that could make a difference in how much money players can put on their account.

MyBookie Sportsbook - MyBookie The Best Place To Bet On NHL Games

Now for the most part players like to go on their online sportsbooks a place their bet and leave. With MyBookie, placing your bet is only the tip of the iceberg as far as what players can do on their account. With so many different betting options here on MyBookie, the NHL is one of the sports that after you place your bet, you can find other things to get into like checking out other money lines and also participate in live betting feature that it offers.

There is also a mobile betting feature here on MyBookie as well that lets players log in and check on their bets and even place other wagers while they are out of the office or not close to a computer. The games that are being seen will always show up as options and with the NHL season, there will always be plenty of games up on MyBookie so there is no reason for a player to be bored with this account they have!

The big board at any Vegas sports book is a sight to behold. A slick cross between the New York Stock Exchange and a McDonald’s walk-up menu, the boards are updated moment to moment and bet to bet, giving a sports gambler all the data he needs to make a smart bet.

These boards are copied and pasted into the newspapers or shrunk to fit computer screens and smartphone apps but nothing measures up to the real thing. Hundreds of games, thousands of bets. All listed above you.

The big boards in Vegas tell us many things. The favorites. The underdogs. The payout. Where the money is. Knowing how to read Vegas Odds is important to every gambler not just to place a bet, obviously, but to place a smart bet. And that’s all good gamblers want to do. They want to make smart bets, win 60-70 percent of the time, and move on to the next bet.

But how do the big boards in Vegas work? What are they telling us? And what can we derive from them? It is just as important to know the odds you’re gambling with as it is to know the sport you’re gambling on. Making a smart bet is the goal. And smart gamblers use all the information available in order to do so.

For a brilliant summary for reading Vegas Odds 101, listen to our Sports and Vegas Odds Podcast episode where Ryan breaks it all down for you:

American Odds

Vegas odds are often referred to as “American Odds” because Americans always have to be different. We ignore the metric system. We call football, soccer. We drive on the wrong side of the road. Why would sports gambling be any different?

American odds are presented in the form of a $100 bet. They’ll indicate the amount you need to wager to win $100 or the amount you’ll win if you bet $100. So, for a favorite, the odds will begin with a minus (-) sign. This is the amount you need to bet in order to win $100.

On the other hand, the underdog’s odds will begin with a plus (+) sign. This is the amount you will receive if you were to bet $100. This does not mean you have to bet $100. Or mean that you can only bet as much as $100. See, Americans have to be different. Hang in there because we have some examples forthcoming.

These odds will come into play a few ways depending on the type of bet you place. The moneyline, the point spread, and the totals (over/under) are all bets available on the board. Let’s look at how to read them in Vegas with the odds.

The Moneyline

Simply put, a bet on the moneyline is an odds bet. It’s where “American odds” can easily be seen. With a moneyline bet you’re simply picking the winner and the payout is determined by the odds.

Obviously, a bet on the favorite is going to pay out less than a bet on the underdog. Let’s look at an example of a moneyline bet with an NBA game and how it would appear in Vegas. The Pacers/Cavs line.

• Indiana Pacers +350
• Cleveland Cavaliers -440

The Pacers are the underdog on the moneyline at +350. The Cavs are the favorites on the moneyline with -440. This means a $100 bet on the Pacers to win pays $350. And that you would have to wager $440 on the Cavs to win $100. This ratio holds true for a wager of any amount. A $10 bet on the Pacers pays $35 while a $10 bet on the Cavs pays $2.27. So on and so forth.

The Point Spread

The most common and popular of sports bets is the point spread. As simply as we can put it, the point spread is the number the oddsmakers use to handicap the favorites to even-up the final score of the game. This in turn sparks more interest, which leads to more bets, which brings in more money. Again, the Pacers/Cavs line.

• Indiana Pacers +8 -110
• Cleveland Cavaliers -8 -110

First the -8. As noted, the Cavs are the favorites so they are giving points (8) to even up the final score. In order for the Cavs to win the bet and cover the point spread, they’d have to win by nine or more. If the Pacers stay within seven points, the Cavs fail to cover the eight points and lose the bet. If the Cavs win by eight points, it’s a “push” or a tie and all bets are returned.

Now the (-110). This number is the odds a bet on the point spread will pay out. Just like on the moneyline, since the Cavs are the favorites, you’ll have to bet $110 to win $100. You’ll notice a favorite covering the spread pays out much better than a favorite on the moneyline. You’ll also notice the favorite and the underdog have the same payouts with the point spread. This is what makes playing the point spread so popular.

Some teams are evenly matched and there isn’t a point spread at all. This would be a “pick’em” or “pk” on the big board. And the odds on the moneyline would match as well. These are “EVEN” odds. When playing the point spread the payout number will vary. -110 is about industry standard but you’ll notice -105’s, -115’s, and even as high as -125’s on point spread bets at times. More on this later but it is important to note these variations.

Totals

The totals is a bet on the total number of points (or runs or goals) scored in the game. The oddsmakers will set the number and bets are placed on whether or not the total score is OVER or UNDER that number. The number appears on the big board next to the underdog like so:

How To Read Betting Line

• Indiana Pacers vs. Cleveland Cavaliers 212.5 -110

The number set for this game is 212.5. Since the .5 has eliminated the chance of a push, an OVER bet will win if the total score is 213 or higher. An UNDER bet pays if the total score is 212 or lower. And, again, the payout for a win is -110.

How To Understand Odds Betting

Totals bets are seen as something of a sucker’s bet. Despite your opinion on the matter, we have to admit they are a little strange. You are wagering on what the total score will be. Not picking a winner. Picking a score.

So, it’s different than a normal who’s-going-to-win-the-game-and-by
-how-much kind of bet. However, this number is providing the gambler more information about how the oddsmakers feel about the game and that is important when making a smart bet.

Placing a Wager

The other set of numbers you will see on the big board are the rotation numbers. These are numbers assigned to teams so the sports book can easily distinguish one for the other. They appear to the left of the teams in a game on the big board as such:

• 101 Indiana Pacers +350 212.5
• 102 Cleveland Cavaliers -440 -8(-110)

These numbers simply help the sports book as well as the gambler keep track of the bet. Listed on the big board are dozens of sports, hundreds of teams and thousands of bets that can be played. It’s a good idea to keep them as organized as possible. There are at least six professional teams in New York by itself after all. Like the horses’ numbers at the track, rotation numbers just cut down on the confusion when placing a bet.

“Give me New York -220 on the moneyline for $50.”
“Which New York, dumb-dumb…”
“Sorry, 303. I’m an idiot”
“Yes, you are.”

Don’t be that guy. This is the proper way to lay a bet in Vegas. Rotation Number, Type of Bet, Amount of Wager. Everyone appreciates a well placed bet and no one likes that guy…

Reading the Big Board

Now that we know how to read Vegas Odds, we need to learn what the Vegas odds mean… That is, what are these numbers telling us in the context of the game we want to wager on. We have studied the teams, we know the rosters. What can the lines tell us to make our bet a smart bet?

Once a game is scheduled and it’s odds are posted, the bets are going to start coming in. Now, it’s in the sports book’s best interest to keep the bets as even as possible. This is why oddsmakers give you a pay out at -110.

Understanding the Vig or Juice

That’s a $110 dollar bet to win $100. Take the favorite and give the points. You’re paid out at -110. Take the underdog and get the points. You’re paid out at -110. OVER or UNDER the same. -110. This is the industry standard and goes back to the mob-only days of oddsmaking.

Where does that $10 bucks go you ask? Well, that $10 bucks on a $100 bet is the “vig” or “juice.” It’s the price for laying a bet. A little bit extra the oddsmaker gets to keep for fronting the wager.

Keeping the bets as even as they can on either side insures their money. Collect from the losers and short change the winners. It’s a brilliant business model only the mob could come up with and only Vegas would still employ.

Now, most betting lines will just give it to you straight. The favorite pays this much, you get this many points, the total is this. What we are looking for are the variations. We can ascertain plenty of valuable intel from these variations.

Why is the payout on this game -115? And why is the payout on this game EVEN? Why is the moneyline different from yesterday? And why is the point spread moving up? The devil is in the details.

Watch As The Point Spreads Move

The most obvious variation is the movement of the point spread. As the bets start coming in, the oddsmakers track which team is receiving most of the betting action. The point spread will move because the oddsmakers will change the line to try to even up the sides. Remember, they want just as many people on one side of a bet as on the other.

More people are taking the Cavs giving the eight points? Raise the point spread to nine. All of a sudden, more bets will come in for the Pacers getting the nine points. Oddsmakers can do the same with the moneyline as well as the total line. And for the same reasons.

But what does this information tell us? The line has moved up even more and now the Cavs are -10 point favorites. This means, despite the oddsmakers best efforts, more wagers have been placed on the Cavs than on the Pacers.

Smart Bettors Know Where The Action Is

Knowing where the money is can help you make a smart bet. One theory is the The-House-Always-Wins-Rule. Basically, this theory suggests you bet against everyone else and with the house because the house always wins. If more people take the favorite, the points they are giving went up and you should take the underdog.

If more people are picking the underdog, the points they are receiving have gone down and you take the favorite. It makes sense in theory but maybe not in practice. Remember, the oddsmakers want the sides to be even.

They aren’t in the business of placing their own opposing bets. What is important is knowing how everyone else is betting and the knowledge that a large segment of the gambling population shares your opinion.

Or if you think the gambling population is foolish, well, you know what to do. However you feel, keep an eye on how the line moves. It may help you make a bet you wouldn’t have or avoid a bet you were going to make.

A Close Look at the Payouts

The payouts on the point spread can vary as well. That standard -110 will turn into -105’s or EVEN’s. Or go the other way to -115’s, -120’s, or -125’s. What is the reason for these variations? It’s a lot like moving the point spread.

The oddsmakers want to even up the bet. There’s only so many points a bookie is going to give. Offering a little more here or a little less there on the payout may be enough to influence the betting action. However, you can tell where the oddsmakers are hedging with these numbers.

If the payout gets better than -110, the oddsmakers have the sides even up, love the point spread and want you to bet it and lose. If the payout gets worse than -110, the oddsmakers know they have a bad number and want to cut their losses.

Vegas Wants You To Gamble – Be Smart

Making smart bets is the name of the game. The only way to make smart bets is to gather as much information as possible and master how to read Vegas Odds. Get to know every bet as well as you know every team. Get to know all the odds as well as you know every player.

How To Understand Odds Football

Otherwise, you’re just playing the lotto. Remember, Vegas wants you to gamble. It’s going to give you all the information it can in order to gamble. It’s up to you to use it.

How To Understand Odds In Football

Test your knowledge on some small starter bets. We’d recommend any of the following for players outside Las Vegas but there are plenty of good options for US players (just make sure it’s not illegal in your state):