The NHL receives global attention every season and has remained one of the top sports to watch in countries all over the world, including the US, Canada, Scandinavia, Germany, and many, many more. Because of this, it is also one of the best sports to put your money on.
When you are first starting out with sports betting, however, it can be tricky to know what you are doing and what sort of bets you should be placing. That is where this article comes in.
Not only will we explain some of the key factors you should pay attention to if you are thinking of betting on the NHL, but we will also provide you with some of our top betting tips!
Check out these great tips from Fanduel to learn more about how you can place successful bets on the NHL games this season.
1. Create a Budget
Starting with the first thing you should do with any form of gambling, let’s talk about how to create a budget. This is important as it will prevent you from overspending accidentally, which will save you money and increase any eventual profits whilst reducing the risk of debt.
To work out what budget you should be betting with, take a look at your overall financial situation, including any and all ingoing and outgoing payments. Once you know how much money you have to play with that isn’t already accounted for, you can decide what you are willing to spend on your NHL sports betting hobby. Then, all you need to do is just stick to it.
2. Do Your Research
A sports betting rule: It might sound boring, but trust us when we say that researching the teams and players that are competing in a game means you will be much more informed about any bets you place.
For example, if you know that the teams competing have had games against each other in the past and that one team consistently comes out on top, it is probably unwise to bet on the underdog, although there is big money to be made if they manage to come out on top!
3. Know What Odds Are Being Offered
If you go into any betting shop and place a wager without first looking at the odds, you will be making a huge mistake. The odds are what tell you the likelihood of a certain team winning as well as the amount of money you will receive as a return if your bet comes in.
Sometimes the odds will show you that a bet isn’t really worth placing as there is not a good enough risk/reward ratio. If you have to put $100 on to win $110, for example, it is not really worth the risk you will be taking for such a small reward, although this will be up to you.
4. Choose the Right Types of Bets
With so many different bets available for you to choose from when it comes to the NHL, it can be difficult to know what type of bets you should be placing on the different games.
Some of the main types of bets that are often placed on NHL games include the following:
- Moneyline: This is when you bet on the winning team.
- Overs and Unders: These types of bets are based on the total number of points at the end of the game, combining the scores of both teams.
- Puck line: This is a point spread bet of -1.5 on the favorite team to win and +1.5 on the underdogs.
- Point spread: In addition to standard puck line bets, point spread bets can offer 2.5 and 3.5 as well.
- Parlays: If you can’t decide on what type of bet you want to place, you can always choose a parlay to combine bets over multiple games, although each selection will need to be correct.
5. Don’t Get Carried Away Too Soon
After reading up on some of the best tips for betting on the NHL, it might be tempting to go in with a big bet that could see you blow all or most of your budget on just one or two games.
Instead of getting carried away and making bets that are too big for your beginner’s NHL betting boots too soon, our final top tip would be to stick to lower stakes while you are starting out until you have come up with a winning strategy and are feeling more confident.