The National Hockey League (NHL) was founded over 100 years ago in 1917. Today, it is the best hockey league in the world, attracting players from all over the globe to North America to compete for the legendary Stanley Cup. With online gambling in Michigan now legal, hockey fans can wager on all of their favorite teams, including the Detroit Red Wings.
NHL Betting Odds
Whether you want to bet on the favorite or the underdog, NHL betting odds are always available and always changing.
As with all sports betting, NHL betting odds constantly fluctuate. Not only that, but different sportsbooks likely will offer you different odds on the same game. It is in your own best interest to shop around to find the best numbers.
Sports betting odds can take on three different formats: decimal, fractional or American. What’s the difference? Presentation, mainly. For example, if the Detroit Red Wings were playing the Chicago Blackhawks, the Red Wings may be the underdogs and listed as +200 on the moneyline. That is an example of the standard American odds. It would mean that a $100 bet would payout $200 if the Red Wings won. In a decimal posting, the Red Wings would be 2.00, but the end result would be the same with a $100 bet netting $200. As a fractional posting (which is mostly used in horse racing), the Red Wings would be a 2-1 underdog. But all three listings – +200, 2.00 or 2-1 – are all the same with a $100 bet resulting in a $200 payout.
If the Red Wings were the favorite in the game against the Blackhawks, you may see the American odds posted as -110. This means that you would need to bet $110 to win $100. The larger those odds are, the more you would need to risk to win that wager. It’s possible the Red Wings could be a heavy favorite with the odds posted as -250. This would mean to win $100; you would need to bet $250. Sometimes betting on the favorite isn’t the best play given these sorts of possible returns.
Use these numbers to your advantage. It can be very tempting to always bet the underdog seeing the potential return on your money with the +110 number. But at the same time, that team is an underdog for a reason. Yet, having to risk a lower rate of return when betting the favorite isn’t always advantageous either. The betting favorite doesn’t win every game.
The best NHL betting strategy will factor the game at hand, your bankroll and the current odds in order to make the best play. We suggest you do the same.