For those of you that are new to NHL betting, logging into an online sportsbook for the first time can be quite intimidating.
Sportsbooks like to use certain terminology to make themselves sound like an expert, just like how a doctor, lawyer or accountant would in their respective fields.
Even the most experienced of NHL bettors can see certain betting terms that they won’t completely understand.
Not to worry. This guide will explain all the NHL betting terminology you need to know.
Hockey Betting Lines Explained
Here’s a snapshot of some NHL betting lines from Bet365:
There are multiple terms to break down:
Money Line: These are the odds based on who the public think will win the match. The odds will be
Total: This is the number of goals that might be scored in the game. You either bet over or under this number. We also analysis on the over/under betting. Click here to read it.
Line: This refers to the puckline. When betting on the
Props: This is short for proposition bets. These are wagers on what happens in the game rather than the result. A popular example of a prop bet is the team that scores the first goal. Click here to read about our prop betting strategies.
Futures: These are odds on events that happen in the future. The main future bets in the NHL are on the Stanley Cup, conference winners and division champions.
Periods: These are the bets on the result of a certain period, rather than the full match.
There are many other ways to bet on the NHL. If you come across any of the following in your sportsbook, you’ll be prepared:
Alternate Lines: These follow the same rules as the puckline except with larger handicaps at +-2.5 goals.
Parlays: This is a combination of two or more bets into a single play.
Double Chance: This bet wins if your selection wins or ties. However, the odds are significantly reduced as the chances of winning are higher.
NHL Betting Terminology
Here is the full list of all other NHL terms you need to know.
Units: This is the percentage of a bankroll that is staked per bet, usually between 1-2%.
Bankroll: This is the total amount of money that you have available to bet on sports.
Favorite: This is the team that is most likely to win based on where the money is going.
Underdog: This is the team that is least likely to win based on where the money is going.
Edge: This is the advantage you have over the sportsbook. For example, if you believe you have a 55% chance of winning the bet, you would have a 5% edge over the sportsbook.
ROI: ROI stands for Return On Investment. This is a way of calculating how much money is made per dollar wagered. Read this article to learn more about how to make positive ROI from sports betting.
Line Movement: This is when the sportsbooks change the odds on a match based on the amount of money being bet on a particular side.
Cover The Spread: This is when a team has beaten the betting line. For example, if the
Against The Spread: This measures a team’s record against the puckline rather than their number of wins and losses.
Value: This is when the bet has a great chance of winning and will pay out more than it should. There is particular value from an overpriced underdog.
Vig: This is the commission the sportsbooks take from a bet. It is also known as ‘juice’.
Reduced Vig: This is when a sportsbook’s vig is less than the industry standard.
Limit: This is the maximum bet size a sportsbook allows per bet. Different sportsbooks will have their own maximum bet size.
Sharp Money: This is who the sports betting experts and professionals are betting on.
Hedge: This is placing a bet on both teams to ensure you always make a profit. For example, if you place a bet on the Flames to win the Stanley Cup at +1200 and they make it there, you could you hedge your bet by wagering against them at even money
Push: This is when the final score or number of goals falls exactly on the betting line. If a bet pushes, the stake is refunded.
Steam: This is when the betting lines move suddenly. This usually indicates that a large bet has been placed on one side of the betting line so the sportsbooks need to act quickly.
If there are any of these terms you still don’t understand, or you think we may have missed something obvious, send us an email and we will be happy to answer any questions you have and update this betting glossary if needed.
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