NHL Betting Odds

Updated: Oct 29, 2025

NHL Betting Odds

NHL betting odds power every wager, from tonight’s games to season-long futures. Whether you’re looking for the best moneyline, puck line, totals, or player props, understanding how hockey odds work is the foundation of profitable betting.

This guide breaks down how to read NHL odds, which markets matter most, and how to shop for the best lines.

NHL Betting Odds Explained

Like all major sports, hockey offers multiple ways to wager, each catering to different strategies and risk levels. Odds are designed to reflect implied probabilities and potential payouts, and they can change rapidly based on team form, goaltending announcements, lineup changes, or market activity. Understanding how these markets work helps bettors decide whether they want straightforward win bets, spread-based wagers, totals, or more specialized player and team props.

👉 For a full breakdown across all sports, visit our Odds Hub.

The main markets are:

Moneyline – Straight win bets.
Puck Line – Hockey’s version of the spread (usually ±1.5 goals).
Totals (Over/Under) – Betting on combined goals scored.
Props – Player or team performance stats.
Futures – Season-long outcomes like Cup winners or MVP.

NHL Betting Odds Comparison

Market	What It Means	Typical Odds Format	Volatility	Best For
💵 Moneyline	Pick the outright winner of the game	American odds (+/-)	Medium – goalie changes, injuries, travel	Beginners & upset hunters
🏒 Puck Line	Spread betting, usually ±1.5 goals	American odds	High – empty-net goals and late swings	Bettors who like spreads
📊 Totals (Over/Under)	Wager on total combined goals	American odds	Medium – impacted by pace, goalie form, special teams	Data-driven bettors
🎯Prop Odds	Player/team stats (goals, assists, saves, etc.)	Yes/No or O/U	High – niche outcomes, sharp line moves	Stat-focused bettors
⏳ Futures	Long-term bets (Stanley Cup, MVP, division titles)	Varies	High – odds swing over season	Strategic long-term bettors

💵 Moneyline Odds in the NHL

Moneyline betting is the most straightforward and widely used form of NHL wagering. Unlike spread or puck line bets, which require a team to win by a certain margin, a moneyline wager only requires bettors to correctly pick the outright winner of a game. The sportsbook sets odds to reflect the implied probability of each team winning, adjusted for factors such as team strength, home-ice advantage, recent form, and public betting volume.

How Moneyline Odds Work

Moneyline odds in North American sports are displayed in American odds format, using a plus (+) or minus (–) sign:

Favorites (–): A minus sign indicates the favorite. The number represents how much you must risk to win $100.
Underdogs (+): A plus sign indicates the underdog. The number represents how much you win on a $100 stake.

Example Odds:

New York Rangers +115
Tampa Bay Lightning –125

This market tells us:

A $100 bet on the Rangers (underdog) at +115 returns $215 total ($115 profit + $100 stake) if they win.
A $125 bet on the Lightning (favorite) at –125 returns $225 total ($100 profit + $125 stake) if they win.

These odds reflect the bookmaker’s estimation that Tampa Bay is more likely to win, but also account for bookmaker margin (vig).

Implied Probability

To better understand moneyline prices, bettors often translate them into implied probabilities:

Formula for favorites: –odds / (–odds + 100)
Formula for underdogs: 100 / (odds + 100)

In our example:

Tampa Bay –125 = 55.6% implied chance of winning.
New York +115 = 46.5% implied chance of winning.

Together, these exceed 100% because of the bookmaker’s edge.

Why Bettors Use Moneyline Bets

Simplicity: No spread to worry about — you only need your team to win.
Variance-friendly: Useful in hockey, where many games are decided by a single goal and spreads (puck lines) can be unpredictable.
Underdog value: NHL has one of the highest upset rates among major sports, making moneyline wagers on underdogs potentially profitable.
Overtime included: Unless otherwise stated, moneyline bets typically include overtime and shootouts.

Strategy Considerations

Home-Ice Advantage – Historically worth about 3–5% in win probability, but varies by matchup and travel schedule.
Goaltending Matchups – The single most important factor in NHL outcomes. A starting goalie switch can move lines 20–30 cents.
Line Movement – Public money often drives odds toward popular teams. Tracking closing line value (CLV) is a common strategy.
Bankroll Management – Because favorites can require large stakes, bettors must size wagers carefully to avoid overexposure.

👉 For deeper strategies beyond the odds themselves, check out our NHL betting guide.

Real-World Example: 2023 Playoffs, Florida Panthers

The 2022–23 Florida Panthers provide an excellent case study of how moneyline markets play out in practice.

First Round vs. Boston Bruins: Boston entered the playoffs as the –300 favorite in Game 1 after setting an NHL record with 65 wins in the regular season. Florida was the +250 underdog.
- Betting $100 on Florida in that first game returned $250 profit for those who backed them.
Series Context: The Panthers ultimately upset Boston in a seven-game thriller, one of the biggest playoff upsets in recent NHL history.
Lesson: Moneyline odds reflected Boston’s dominance, but NHL volatility — especially with hot goaltending (Sergei Bobrovsky) and momentum shifts — made the underdog position valuable.

By understanding moneyline mechanics and implied probabilities, bettors could recognize that while Boston was the favorite, the pricing overstated their true win probability in a high-variance sport.

👉 In short: Moneyline betting is the NHL’s most accessible wagering format, but true expertise comes from translating odds into probabilities, identifying mispriced lines, and using context (goalie performance, travel, fatigue, special teams) to spot value.

🏒 Puck Line Odds in the NHL

Puck line betting is hockey’s equivalent of the point spread. Instead of simply picking a winner, bettors must consider the margin of victory or defeat. In the NHL, the puck line is almost always set at ±1.5 goals, making it a unique hybrid between spread betting and moneyline wagering.

Unlike sports like football or basketball where spreads vary widely, hockey’s low-scoring nature creates tighter margins, which is why 1.5 is the universal benchmark.

How Puck Line Odds Work

Favorites (–1.5): The favorite must win by two or more goals to cover the spread.
Underdogs (+1.5): The underdog can either win outright or lose by a single goal and still cover.

Example Odds:

New York Rangers +1.5 (–130)
Tampa Bay Lightning –1.5 (+120)

This market tells us:

A $130 bet on the Rangers +1.5 returns $230 total ($100 profit + $130 stake) if New York wins or loses by only one goal.
A $100 bet on Tampa Bay –1.5 returns $220 total ($120 profit + $100 stake) if the Lightning win by two or more goals.

The odds reflect the fact that single-goal games are common in hockey, so underdog +1.5 lines are often juiced to the negative side.

Implied Probability

Bettors can translate puck line odds into implied probabilities, just like with moneyline wagers:

Favorites formula: –odds ÷ (–odds + 100)
Underdogs formula: 100 ÷ (odds + 100)

In this example:

Rangers +1.5 (–130) = 56.5% implied chance of covering.
Lightning –1.5 (+120) = 45.4% implied chance of covering.

Together these exceed 100%, accounting for the bookmaker’s edge (vig).

Why Bettors Use Puck Line Bets

Better Prices on Favorites: Instead of laying –200 or more on a heavy moneyline favorite, bettors can take –1.5 at +120 or higher for better returns.
Safer Position on Underdogs: Taking +1.5 goals means your team doesn’t have to win outright to cash.
Hockey’s Tight Margins: Roughly 40–45% of NHL games end in a one-goal margin, making puck lines especially relevant.
High Drama with Empty Net Goals: Late-game scenarios often swing puck line results, as trailing teams pull the goalie, increasing chances for favorites to cover.

Strategy Considerations

Game Context: Favorites with strong defensive structures are more likely to hold multi-goal leads.
Empty Net Factor: Bettors backing favorites at –1.5 often rely on late empty-netters to secure the cover.
Underdog Value: Because so many games finish within a single goal, +1.5 underdogs often present lower risk, albeit at juiced prices.
Correlation with Totals: In games expected to be low-scoring (Over/Under 5.0), the +1.5 is more valuable; in higher-scoring games, the –1.5 becomes more achievable.

Real-World Example: 2021 Stanley Cup Final

Game 2: Tampa Bay Lightning vs. Montreal Canadiens
- Moneyline: Tampa Bay –175 | Montreal +155
- Puck Line: Tampa Bay –1.5 (+150) | Montreal +1.5 (–170)
- Final Score: Lightning 3 – 1 Canadiens
Result:
- Tampa Bay –1.5 puck line bettors won, as the Lightning secured a two-goal victory.
- Montreal +1.5 bettors lost, despite a competitive effort.
Takeaway: Bettors who laid –175 on Tampa’s moneyline profited modestly, but those who took Tampa –1.5 puck line at +150 nearly doubled their money.

This case study illustrates how puck lines can offer greater payouts than moneylines when favorites deliver comfortable wins, but also how bettors assume higher risk compared to simply taking the straight-up outcome.

👉 In short: Puck line betting adds nuance to NHL wagering by blending spread mechanics with hockey’s low-scoring nature. It rewards bettors who can correctly anticipate game flow, defensive matchups, and late-game scenarios where empty netters often swing results.

📊 Totals (Over/Under) Odds in the NHL

Totals betting, also known as Over/Under betting, is one of the most popular NHL markets. Instead of wagering on which team will win, bettors predict whether the total number of goals scored by both teams will be over or under the line set by the sportsbook.

This market emphasizes game pace, offensive efficiency, goaltending, and special teams rather than simply choosing a winner.

How Totals Odds Work

Sportsbooks typically set NHL totals between 5.0 and 7.0 goals, with 6.0 or 6.5 being the most common. Bettors then decide whether the combined goals will fall over or under that number.

Example Odds:

Over 6.5 (–105)
Under 6.5 (–115)

This market tells us:

A $105 bet on the Over wins $100 profit if 7+ goals are scored.
A $115 bet on the Under wins $100 profit if 6 or fewer goals are scored.

The juice (–105 vs –115) indicates that the sportsbook slightly favors the Under as more likely.

Implied Probability

Just like with moneylines and puck lines, Over/Under odds can be converted to implied probabilities:

Over 6.5 (–105) = 51.2% chance of hitting.
Under 6.5 (–115) = 53.5% chance of hitting.

The combined 104.7% reflects the bookmaker’s margin.

Why Bettors Use Totals

Focus on Game Flow: Bettors can profit without picking a side.
Pace Indicators: Useful when strong offenses face weak defenses, or elite goalies create low-scoring environments.
Predictable Market: NHL totals usually sit within a narrow range, making historical data highly relevant.
Flexibility: Totals can also be bet by periods (1st period Over/Under 1.5 goals) or as team totals (Over/Under goals for a single team).

Strategy Considerations

Goaltending Matchups: Elite goalies like Igor Shesterkin or Andrei Vasilevskiy can suppress totals significantly. A backup goalie often drives lines upward.
Recent Form: Teams riding hot streaks offensively may inflate Overs, while defensive slumps or injuries to key blueliners also push totals higher.
Special Teams Efficiency: Power-play percentage vs penalty-kill percentage is critical. A strong power play vs weak PK can tilt games toward Overs.
Travel and Scheduling: Fatigue from back-to-backs or long road trips often reduces scoring, favoring Unders.
Empty Net Goals: Late empty-net situations can flip totals in the final minute, especially when betting Overs.

Real-World Example: 2022 Playoffs – Oilers vs. Flames

The Battle of Alberta in the 2022 Western Conference Semifinals provides a strong case study.

Game 1 Total: Over/Under set at 6.5 goals.
Result: Edmonton 6 – Calgary 9 (15 total goals).

Bettors who played the Over cashed comfortably, with the game smashing through the line early in the second period.

Game 2 Adjustment: Sportsbooks raised the line to 7.0 goals.
Result: Edmonton 5 – Calgary 3 (8 total goals). Over bettors cashed again.
Series Takeaway: Edmonton and Calgary were two of the league’s highest-scoring teams with shaky goaltending, making Overs highly profitable despite books adjusting lines upward.

This shows how tracking team tendencies (fast pace, leaky defense, and elite offensive stars like Connor McDavid and Johnny Gaudreau) helps bettors exploit totals markets.

👉 In short: NHL totals betting is all about pace, goaltending, and situational context. While lines are usually tight, savvy bettors who understand offensive matchups, goalie quality, and scheduling spots can spot valuable Over/Under opportunities — especially in playoff series where momentum and scoring patterns become more predictable.

🎯 NHL Player Prop Odds

Player prop odds give bettors the chance to wager on the performance of individual players, rather than the outcome of an NHL game. Unlike moneyline or puck line wagers that focus on teams, props drill down into statistics like goals, assists, or shots on goal. This market has grown rapidly thanks to legalized sports betting and the popularity of data-driven analysis.

How Prop Odds Work

Prop odds are typically listed in one of two formats:

Over/Under lines: A set number is given, and you bet whether a player’s stat will finish above or below it.
Yes/No outcomes: A binary bet, such as whether a player will score a goal at any time.

Example Odds:

Connor McDavid Over/Under 1.5 points (+100 / –120)
Auston Matthews to score a goal (+110)
Igor Shesterkin Over/Under 29.5 saves (–115 / –105)

Here’s what this means:

Betting $100 on Matthews (+110) to score pays $110 profit if he records a goal.
Betting the Over 1.5 points for McDavid (+100) doubles your stake if he reaches 2+ points.
Betting Shesterkin Over 29.5 saves (–115) requires $115 risk to profit $100.

Common Types of Player Prop Odds

Goals Scored – Will a player score a goal in the game?
Assists – Will a player record at least one or multiple assists?
Points – A combined total of goals and assists.
Shots on Goal – Measured by puck attempts on net.
Power Play Points – Scoring contributions while on the man advantage.
Goalie Saves – Over/under on total saves made by the goaltender.

Why Bettors Use Prop Odds

🎲 High Variance = High Reward – Because props focus on smaller sample outcomes (like one player’s shots), they’re often more volatile but can carry higher payouts.
📈 Analytical Edge – NHL props rely on advanced stats like Corsi, Fenwick, expected goals (xG), and time on ice, giving sharp bettors the ability to spot inefficiencies.
🧑‍🤝‍🧑 Player-Centric Fun – Fans can bet directly on their favorite stars, making the game more personal.

Strategy Considerations

Ice Time & Usage – First-line players or top defensemen offer more predictable opportunities. A power play specialist sees higher point prop value.
Opponent Defense – Facing a leaky defense or weak penalty kill raises chances of hitting Over props.
Recent Form – Hot streaks in shooting or cold goaltending stretches can shape expected results.
Line Combinations – Player chemistry (e.g., McDavid + Draisaitl) often boosts points and assists props.
Goalie Matchups – Underdog goalies often face 35+ shots, creating opportunities on save props.

Real-World Example: 2023 Connor McDavid Playoff Run

During the 2023 NHL Playoffs, sportsbooks consistently posted McDavid’s points prop at Over/Under 1.5.

Game 2 vs. LA Kings – Odds: Over 1.5 (+105), Under 1.5 (–130).
McDavid finished with 2 assists, cashing the Over. Bettors who risked $100 on the Over earned $105 profit.

Across the series, McDavid hit the Over in 4 of 6 games, proving why props tied to elite stars can provide steady betting opportunities when trends align with usage and matchups.

👉 In short: NHL Player Prop Odds are a high-variance, high-potential market that rewards research. By studying ice time, line matchups, and advanced stats, bettors can uncover value in places overlooked by the main moneyline or totals markets.

📋 NHL Team & Game Prop Odds

Team and game prop odds let bettors move beyond individual players and focus on team-level performance or specific game events. These wagers are not tied directly to which team wins or loses, but instead revolve around key statistics, milestones, or unique in-game outcomes.

How Team & Game Prop Odds Work

Sportsbooks set prop markets on measurable events involving one or both teams. Odds are usually presented as Over/Under totals or Yes/No outcomes.

Example Odds:

Pittsburgh Penguins total goals Over/Under 3.5 (+120 / –140)
Will there be overtime? Yes (+300) / No (–400)
First team to score: Maple Leafs –120 / Canadiens +100

Here’s how they work:

Betting $100 on the Penguins Over 3.5 at +120 pays $120 profit if they score 4 or more goals.
A $100 “Yes” bet on overtime at +300 pays $300 profit if the game goes past regulation.
Betting the Canadiens +100 to score first doubles your stake if they strike first.

Common Types of Team & Game Prop Odds

First Team to Score – Which team scores the opening goal.
Team Total Goals – Over/Under on goals scored by one team.
Game Totals by Period – Goals in a specific period.
Overtime Props – Will the game go to OT?
Special Teams Props – Power play goals, penalty kill success.
Shot Totals – Team shots on goal Over/Under.
Winning Margin – Predicting if a team wins by 1 goal, 2 goals, etc.

Why Bettors Use Team & Game Prop Odds

🎯 Targeted Angles – Lets bettors focus on specific aspects (like shots or special teams) without worrying about who wins.
📊 Statistical Leverage – Props often reflect team strengths/weaknesses (e.g., elite PP vs. poor PK).
⚡ Entertainment Value – Adds excitement to games where bettors have no stake in the outcome.
🔎 Market Inefficiency – Less liquid than moneylines, so sharp bettors may find softer pricing.

Strategy Considerations

Schedule & Fatigue – Teams on a back-to-back might underperform offensively, shaping team goal totals.
Home-Ice Advantage – Dictates line matchups, especially for “First Goal” props.
Goalie Matchups – Facing a backup goalie increases team totals.
Special Teams Impact – A strong PP unit vs. weak PK opponent can push Overs.
Historical Matchups – Some rivalries consistently trend toward more penalties or tighter scoring margins.

Real-World Example: 2023 Playoffs – Toronto Maple Leafs vs. Florida Panthers

Game 2 of the 2023 Eastern Conference Semifinals featured multiple team & game prop markets:

Leafs Team Total Goals: Over 3.5 (+115), Under 3.5 (–135).
Will There Be Overtime?: Yes (+280), No (–350).
First Team to Score: Leafs –140, Panthers +120.

Outcome:

Florida scored first, cashing the Panthers +120 “First Goal” prop.
The game finished 3–2 Panthers, which meant Leafs Under 3.5 cashed.
The game ended in regulation, so “No OT” (–350) was correct.

Lesson:

While the Leafs were favored in standard moneyline markets, bettors who focused on team and game props had profitable opportunities by recognizing Florida’s defensive structure and Bobrovsky’s hot form.

👉 In short: NHL Team & Game Prop Odds offer flexibility, letting bettors target specific statistical outcomes or events. Success depends on analyzing goalie matchups, scheduling, and special teams while remembering that variance can swing these niche markets dramatically.

⏳ NHL Futures Odds

NHL futures odds allow bettors to wager on long-term outcomes across a season or postseason, rather than a single game. These markets capture the “big picture” of hockey betting, from Stanley Cup winners to individual player awards. Futures are dynamic — odds shift constantly based on standings, player injuries, trades, and momentum swings throughout the year.

How Futures Odds Work

Sportsbooks open futures markets before the season starts and adjust them as events unfold. The most common format is American odds (+200, +500, etc.), showing payouts for a $100 bet.

Example Odds (Preseason Stanley Cup Futures):

Colorado Avalanche +750
Toronto Maple Leafs +1000
Vegas Golden Knights +1300

Here’s how they work:

A $100 bet on Colorado at +750 returns $750 profit if they win the Cup.
A $100 bet on Toronto at +1000 returns $1,000 profit.
A $100 bet on Vegas at +1300 returns $1,300 profit.

Common Types of NHL Futures Odds

🏆 Stanley Cup Winner – Outright champion of the NHL season.
🌍 Conference Winners – Eastern & Western Conference champions.
🏒 Division Titles – Regular-season divisional winners.
🥅 Playoff Seeding – Whether a team secures home-ice advantage.
🏅 Player Awards – Hart Trophy (MVP), Vezina (Best Goalie), Norris (Best Defenseman), Calder (Rookie of the Year), Conn Smythe (Playoff MVP).
📊 Season Totals – Team win totals, player goal/point milestones.

Why Bettors Use NHL Futures Odds

🔮 Long-Term Value – Lock in high prices before public perception shifts.
🎯 Diversification – Futures hedge or complement single-game wagers.
💰 Big Payout Potential – Underdogs can return large profits if they outperform expectations.
📈 Fan Engagement – Keeps bettors invested in the season from October to June.

Strategy Considerations

Timing Is Everything – Odds are usually most favorable before the season or early in the playoffs.
Injuries & Trades – Sudden roster changes create value shifts.
Strength of Schedule – Teams in weaker divisions may offer sneaky futures value.
Goaltending Stability – Elite goaltending is historically the #1 factor in deep playoff runs.
Hedging Opportunities – If a futures ticket advances deep, bettors can hedge with series or game bets to lock profit.

Real-World Example: 2019 St. Louis Blues

The 2018–19 St. Louis Blues are one of the most famous futures case studies in NHL history.

Preseason Odds: +3000 to win the Stanley Cup.
January 2019: Last place in the NHL standings, odds ballooned to +10000.
Turnaround: A rookie goalie, Jordan Binnington, sparked an incredible second-half run.
Result: The Blues won the Stanley Cup, cashing 100-to-1 tickets for bettors who grabbed odds mid-season.

Lesson:

Futures are about recognizing variance and opportunity. Even longshots can win when supported by strong goaltending, timely trades, or momentum swings. Smart bettors who balance risk with diversification can profit from unexpected storylines.

👉 In short: NHL Futures Odds are high-variance, high-reward markets. Success comes from timing entries, tracking key performance indicators like goaltending and possession metrics, and hedging when value allows.

🏆 NHL Playoff & Stanley Cup Betting

The Stanley Cup Playoffs are the pinnacle of NHL betting. Unlike the regular season, playoff hockey introduces higher intensity, tighter defense, and the unpredictability of best-of-seven series. Every goal, save, and momentum swing matters, making the postseason both a challenge and an opportunity for sharp bettors.

Playoff betting covers single-game wagers, series outcomes, and special markets like the Conn Smythe Trophy. Understanding playoff dynamics is crucial, as teams often perform differently under postseason pressure than they do in the regular season.

How NHL Playoff & Stanley Cup Odds Work

Odds are posted on both individual games and long-term series. Playoff betting differs because:

Series are best-of-seven (first team to four wins advances).
Books adjust odds after every game, based on results, injuries, and momentum.
Market volume is higher, making prices sharper — but also more volatile.

Example: First Round Series Odds

Toronto Maple Leafs –160
Tampa Bay Lightning +140

A $160 bet on Toronto to win the series returns $100 profit.
A $100 bet on Tampa Bay to win the series returns $140 profit.

As the series progresses, new odds are posted after each game. If Tampa Bay wins Game 1, they might move to –120 favorites despite starting as underdogs.

Common NHL Playoff Betting Markets

Series Winner – Which team will win the best-of-seven.
Exact Series Length – Predict whether it ends in 4, 5, 6, or 7 games.
Stanley Cup Winner – Futures prices updated throughout the playoffs.
Conn Smythe Trophy – Awarded to playoff MVP, often elite goalies or forwards.
Individual Games – Moneyline, puck line, totals, and player props remain available.
Live Betting – Popular in playoffs because momentum shifts are magnified.

Why Playoff Betting Is Different

⚔️ Defensive Intensity – Scoring decreases, making Unders more valuable.
🥅 Goalie Hot Streaks – A single goaltender can carry an underdog deep into the postseason.
📊 Momentum & Adjustments – Coaching strategies shift game-to-game within series.
⏱️ Fatigue Factor – Extended overtime and travel impact player performance.

Strategy Considerations

Underdog Value – NHL playoffs produce more upsets than NBA or NFL. Series prices often overvalue higher seeds.
Look for Hedging Opportunities – Bettors holding longshot Cup tickets can hedge as their team advances.
Study Special Teams – A strong power play or penalty kill often decides tight series.
Ignore Blowouts – A lopsided score in one game doesn’t always reflect the true balance of a series.
Track Goaltending – Postseason performance hinges on elite goaltending. A hot goalie can shift odds dramatically.

Real-World Example: 2012 Los Angeles Kings

The 2011–12 Kings are a textbook example of playoff betting volatility.

Regular Season: Entered the playoffs as the 8th seed in the Western Conference.
Series Odds: Opened as +250 underdogs vs. the President’s Trophy-winning Vancouver Canucks.
Outcome: Upset Vancouver in 5 games, then rolled through St. Louis and Phoenix before defeating New Jersey in the Stanley Cup Final.
Conn Smythe Winner: Goalie Jonathan Quick, who posted a 1.41 GAA and .946 SV%, carried the team.

Lesson:

Stanley Cup betting rewards bettors who understand variance and goaltending influence. While oddsmakers priced the Kings as longshots, their defensive structure and elite goaltending made them a live value pick. Futures tickets on Los Angeles paid out double and triple-digit profits for sharp bettors who believed in their playoff upside.

👉 In short: NHL Playoff & Stanley Cup Betting is all about adapting to variance, identifying undervalued teams, and respecting the outsized role of goaltending and special teams. Bettors who look past surface-level results and focus on context can uncover profitable opportunities throughout the postseason.

Extended NHL Futures & Award Odds

Now that the fundamentals of hockey odds are clear, it’s worth diving into some of the long-term markets that attract significant interest throughout the season. Futures and award odds are different from game-by-game wagering because they span weeks or even months, rewarding foresight, timing, and patience.

These markets often open before the season begins, with lines that shift dramatically based on team performance, injuries, trades, or breakout players. Unlike single-game bets, futures allow you to invest in narratives: a dark horse team building momentum, a goaltender carrying his squad deep into the playoffs, or a star player chasing hardware.

Because prices can swing so much between preseason, midseason, and the playoffs, futures are also a place where line shopping and timing your entry matter just as much as your predictions. For many bettors, they serve as both an entertainment hedge for following a season and a strategic opportunity to capture value well before the market adjusts.

Stanley Cup Finals Odds

The Stanley Cup Finals represent the ultimate futures market in hockey. Outright odds to lift the Cup open before the season and evolve constantly based on team form, roster moves, injuries, and playoff seeding.

Favorites: Teams with elite goaltending, balanced scoring lines, and deep blue-line depth.
Dark Horses: Mid-tier clubs with strong possession metrics (Corsi, expected goals) and the ability to ride a hot goalie.
Market Swings: A single injury, trade deadline move, or first-round upset can dramatically reshape the board.

For example, the 2019 St. Louis Blues opened the new year as longshots before surging to win the Cup behind Jordan Binnington’s goaltending. Bettors who grabbed them at long odds locked in historic value.

👉 For a deeper breakdown of historical trends, line movement, and strategies, check out our Stanley Cup Finals Odds page.

Playoffs Odds

Playoff odds track the probability of each NHL team qualifying for the postseason. These markets open well before the midseason mark and adjust daily as standings shift, injuries occur, and strength-of-schedule changes.

Sportsbooks account for conference depth and tie-breaking rules, which means certain divisions produce sharper swings than others. The Eastern Conference is typically more volatile due to a crowded wildcard race, while the Western Conference often leaves value on mid-tier teams that ride hot goaltending or favorable schedules late in the year.

For example, in 2022 the Dallas Stars hovered around +200 to make the playoffs with 10 games left, but a strong finish and key losses by rivals pushed them through — showing how late-season swings can pay off for bettors who time their wagers.

👉 For up-to-the-minute probabilities, line movement, and strategies, see our Playoffs Betting Odds page.

MVP Odds

The Hart Memorial Trophy, awarded to the league’s most valuable player, is one of the most followed futures markets in hockey. MVP odds shift constantly based on scoring races, team success, and narrative momentum. Elite forwards dominate the market, but goaltenders and defensemen occasionally enter the conversation if their impact is undeniable.

In 2023, Connor McDavid entered the season at around +250 and quickly shortened to odds-on as he built a scoring lead that was never challenged. His MVP case became a near-lock by January, underlining how early market movement can create value before sportsbooks adjust.

👉 Track daily favorites and live updates on our MVP Odds page.

Vezina Trophy Odds

The Vezina Trophy honors the NHL’s top goaltender and is one of the most volatile futures markets. Odds are heavily influenced by save percentage, Goals Saved Above Expected (GSAx), workload, and team performance. Because goaltending is such a high-variance position, prices can swing dramatically with hot streaks or slumps.

For instance, Igor Shesterkin opened the 2022 season at +400, drifted to +1200 during a midseason dip, and then surged back to heavy favorite as he dominated down the stretch for the Rangers. Bettors who caught the midseason price saw a huge edge compared to the closing line.

👉 See current contenders and line movement on our Vezina Odds page.

Norris Trophy Odds

The Norris Trophy is awarded to the NHL’s best defenseman and has become a futures market where analytics play a big role. Traditional stats like points still matter, but advanced possession metrics, power-play usage, and time on ice increasingly influence both odds and media narratives.

Cale Makar’s 2022 season illustrates this perfectly: his odds tightened throughout the year as he led defensemen in scoring while driving elite possession metrics for Colorado. By playoff time, he was such a consensus favorite that sportsbooks priced him at near even money, making early backers the real winners.

👉 Get the latest updates and betting breakdowns on our Norris Odds page.

Conclusion

NHL odds are the foundation of every hockey wager, from nightly matchups to futures markets that span the entire season. Understanding how odds work — moneyline, puck line, totals, props, and futures — gives bettors the tools to recognize value, manage risk, and stay disciplined in a sport known for volatility.

Real-world examples, such as playoff upsets or midseason MVP shifts, show how quickly markets can change. Savvy bettors combine statistical analysis with timing, shopping for the best prices, and adapting as rosters, injuries, and goaltending situations evolve.

Ultimately, betting on hockey requires both patience and precision. By mastering odds formats, learning how implied probability works, and tracking market movement, bettors can turn raw numbers into informed decisions.

TL;DR

Moneyline: Straight win bets, ideal in a high-variance sport like hockey.
Puck Line: Fixed spread at ±1.5 goals, with higher payouts but more risk.
Totals (Over/Under): Betting on combined goals, often shaped by goalie form and special teams.
Props: Player/team performance bets; high-variance but offer niche value.
Futures: Long-term markets on Cup winners, playoff teams, or awards.
Strategy: Track line movement, goalie news, and advanced stats; always shop for the best odds.
Big Picture: Hockey betting rewards discipline, bankroll management, and an understanding of how quickly odds can shift.

Frequently Asked Questions

How do NHL odds work?
NHL odds express the probability of a team winning or a game outcome. A minus sign (–) shows the favorite and how much you must risk to win $100, while a plus sign (+) shows the underdog and how much profit a $100 bet would return.

Do NHL odds include overtime and shootouts?
Yes. Unless otherwise stated, moneyline and totals markets include overtime and shootouts. Some puck line bets may vary depending on sportsbook rules, so always check the terms.

Why do NHL odds move during the day?
Odds shift as sportsbooks adjust for injuries, starting goalie confirmations, betting volume, and market sentiment. NHL is especially goalie-driven, so a late lineup change can move prices quickly.

What’s the difference between puck line and moneyline odds?
The moneyline is a straight win bet, while the puck line is hockey’s spread, usually ±1.5 goals. Moneyline wagers tend to be safer, while puck line bets offer higher payouts but require margin of victory.

How do NHL futures odds work?
Futures odds cover long-term outcomes such as Stanley Cup winners, playoff qualifiers, or MVP awards. Prices update throughout the season as standings, form, and injuries shift.

Where can I find the best NHL odds?
Odds vary across sportsbooks. Comparing multiple operators helps you find the best line, which can boost long-term profitability. Our [sportsbook recommendations page] is a great starting point.