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Hockey is a low-scoring game with a lot of luck in it. A shot deflects off a skate, a goalie has an off night, and a team that dominated play loses 2-1. That randomness is why NHL prices are tighter than in most US sports, and why the details of settlement, especially overtime and shootouts, matter so much when you learn how to bet on NHL games.
This guide covers the moneyline (with and without overtime), the puck line, totals and props, all with real numbers, then the factors that move hockey prices: starting goalies, schedule spots and overtime rules. Sports betting is legal only in some US states, some Canadian provinces and some other countries. Check the law where you live and bet only with an operator licensed there.
Two kinds of moneyline: with and without overtime
The standard moneyline
The standard NHL moneyline is a two-way bet on who wins the game, including overtime and any shootout. Take a hypothetical game with the home team at -165 and the visitors at +140.
At -165 a $33 bet wins $20 and returns $53. The implied probability is 165 / 265 = 62.3%, which is about 1.61 in decimal odds. At +140 a $25 bet wins $35 and returns $60, an implied probability of 100 / 240 = 41.7% (decimal 2.40). The two sides add up to 104.0%, and the extra 4% is the book's margin. Because a winner is always decided, there is no draw to worry about on this market.
The 60-minute or regulation three-way line
Many books also offer a market that settles on the score after 60 minutes of regulation time only. It is usually labelled 60-Minute Line, Regulation Time or 3-Way Moneyline, and it has three outcomes: home win, tie, away win. If the game is level after three periods, the tie wins and both team bets lose, whoever wins in overtime.
In the same game, the three-way prices might be home -105, tie +290 and away +260. A $20 bet on the tie at +290 wins $58 and returns $78. The implied probabilities are 105 / 205 = 51.2%, 100 / 390 = 25.6% and 100 / 360 = 27.8%, a total of 104.6%. Note how the home side drops from 62.3% on the standard line to 51.2% here: roughly a quarter of the outcomes in this example are games that reach overtime, and that share is taken away from both teams. The three-way market is the closest thing hockey has to the 1X2 market in football; our guide to moneyline bets explains two-way and three-way markets in general.
The puck line
The puck line is hockey's point spread, normally fixed at 1.5 goals. The favourite at -1.5 must win by two or more; the underdog at +1.5 covers by winning or by losing by one goal. Like baseball's run line, the line stays put and the price moves.
In our example the home team might be -1.5 at +160 and the visitors +1.5 at -190. A $25 bet on the favourite wins $40, with an implied probability of 100 / 260 = 38.5%. A $38 bet on the underdog wins $20, an implied probability of 190 / 290 = 65.5%.
Overtime matters here in a way new bettors miss. Regular-season overtime is sudden death, and a shootout winner is credited with a single extra goal. That means any game that goes past 60 minutes ends with a one-goal margin, so a -1.5 favourite can only cover by winning in regulation by two or more. Empty-net goals work the other way: a trailing team that pulls its goalie late often concedes an extra goal, which turns plenty of one-goal games into two-goal games. See point spread and handicap betting for how handicap lines work across sports.
Totals, overtime and shootout settlement
NHL totals are usually set somewhere around 5.5 to 6.5 goals, often with uneven prices such as over 5.5 at -125 and under 5.5 at +105. With a total of 6, a 4-2 game is a push and stakes are returned. Full-game totals include overtime.
Shootouts are where settlement surprises people. In the regular season, a game tied after 60 minutes goes to a five-minute, three-on-three overtime. If nobody scores, it goes to a shootout. The shootout does not add every successful attempt to the score: the winning team is credited with one goal in the final result. Most sportsbooks follow that official score for totals and the puck line, but check the house rules.
Two worked examples show why it matters:
- A game is 2-2 after overtime and the home team wins the shootout. The official final is 3-2, five goals, so under 5.5 wins
- A game is 3-3 after overtime and the visitors win the shootout. The official final is 4-3, seven goals, so over 6.5 wins even though only six goals were scored in play
Playoff hockey has no shootout. Overtime continues in full 20-minute, five-on-five periods until someone scores, so a playoff tie after regulation can run long and change the character of a total. Player props usually count overtime goals but not shootout goals; rules differ, so read them for anytime goalscorer bets in particular.
Goalies, back-to-backs and other price movers
The starting goalie is the single biggest variable in an NHL game, and unlike baseball's starting pitchers, he is often not confirmed until close to puck drop. Teams usually reveal their starter at the morning skate or shortly before the game, and lines can move noticeably when a backup is named. Most sportsbooks do not void hockey bets when a different goalie starts, so a bet placed early in the day is a bet on whoever ends up in net. Goalie props, such as saves over 27.5, are a different matter and are often void if the named goalie does not start. Check the house rules.
Schedule spots are the other big factor. NHL teams regularly play on consecutive nights, and on the second night of a back-to-back they often start the backup goalie and may be travelling. A team playing its fourth game in six nights against an opponent that has rested for two days is a different proposition from the standings alone. The same thinking applies to the NBA, where rest and travel also move lines.
Beyond that, watch for injuries to top centres and defensemen, lineup changes posted at the morning skate, and special teams form. Power play and penalty kill numbers can swing a low-scoring game, but they are noisy over short stretches, so treat a hot fortnight with caution.
Player props and futures
Hockey props centre on shots, points and goals. Typical markets are shots on goal (over or under 2.5, for example), points, assists, anytime goalscorer, first goalscorer and goalie saves. A forward at over 2.5 shots at -125 needs a $25 stake to win $20, an implied probability of 125 / 225 = 55.6%. A player at +200 to score at any time implies 100 / 300 = 33.3%; a $15 stake wins $30 and returns $45.
Shots on goal props depend heavily on ice time and power play usage, so a player moving from the second power play unit to the first can be a bigger change than any recent scoring streak. Props carry a higher margin than the main lines, and combining them in a same game parlay compounds it. Our guide to prop bets and bet builders covers correlation, and parlays and accas explains why every extra leg adds to the book's edge.
Futures include the Stanley Cup winner, conference and division winners, regular-season points totals and awards. A team at +1400 to win the Stanley Cup implies 100 / 1500 = 6.7%; a $20 bet wins $280. The NHL playoffs are known for upsets, which keeps futures prices long for most teams and the overall margin in those markets wide.
Before you place an NHL bet
Because hockey has so much randomness, small edges are the norm and big ones are rare. Suppose you think the +140 underdog in our example wins 44% of the time rather than the 41.7% the price implies. The expected profit per $100 staked is 0.44 × $140 minus 0.56 × $100, which is $61.60 minus $56.00, or $5.60. That edge disappears if you are only slightly too optimistic, so record your bets and see whether your estimates hold up over time, as described in our value betting guide.
A short checklist:
- Confirm the starting goalies, or accept that your bet stands whoever starts
- Check whether either team is on the second night of a back-to-back
- Make sure you know whether the market includes overtime and the shootout
- Compare the price with at least one other licensed sportsbook
- Stake a fixed unit and do not increase it to recover losses
If betting is costing more than you planned or feels like something you need to do, read our responsible gambling page, or call 1-800-GAMBLER if you are in the US. For other US sports, see our guides to the NFL and MLB.
Frequently asked questions
Does an NHL moneyline bet include overtime and shootouts?
The standard moneyline does: it settles on the final result, including overtime and any shootout. The 60-minute or regulation line settles after three periods only, and a tie at that point is its own outcome.
What is the puck line?
It is hockey's spread, usually set at 1.5 goals. The favourite at -1.5 must win by two or more goals, while the underdog at +1.5 covers if it wins or loses by one. Since overtime and shootout wins are by one goal, the favourite can only cover in regulation.
How do shootouts affect totals?
The shootout winner is credited with one goal in the official final score, and most sportsbooks use that score for totals. A game tied 2-2 after overtime and won in a shootout counts as 3-2, or five goals.
Is my bet void if a different goalie starts?
Usually not for moneyline, puck line and total bets, which stand whoever plays in goal. Goalie props are often void if the named goalie does not start. Rules vary, so check your sportsbook's hockey rules.
Why do favourites on the puck line often pay plus money?
Many NHL games are decided by one goal, and every game settled in overtime or a shootout ends with a one-goal margin. Asking a favourite to win by two or more turns it into an outcome that happens less often than not, so the price rises.
