Betting on NHL games in Canada has become increasingly popular, and the number of ways to do so has risen.
Unless you are in a regulated online sports betting market like Ontario, betting on hockey games online is mostly limited to parlay-style wagers, not single-game bets.
However, that’s set to change in Alberta, but I’ll get to that later.
How to Bet on NHL Games in Canada?
Hockey bettors in markets where third-party operators like BetMGM are permitted to operate have access to various options, including moneyline, totals, puck line, prop bets, live betting, and parlays.
If you’re in a regulated online sports betting market, you must create an account at BetMGM to place bets.
The sign-up process includes providing personal details while verifying your age and identity. After BetMGM approves the account, you can make your first real money deposit through various means (credit card, PayPal, e-transfer, Apple Pay, etc.).
NHL Moneyline
The moneyline is a straight bet on the winner of a game or contest. It’s the most straightforward type of bet, as nothing but the outcome matters.
When the Toronto Maple Leafs play the Ottawa Senators, you’d pick either team to win. If the team you pick wins, the bet is also a winner.
North American odds are displayed with a + or – before the odds.
The + denotes underdogs, teams less likely to win, while a – signifies favourites.
Remember that favourites, as they have a higher likelihood of winning according to the sportsbook, return a lower profit margin than underdogs.
For example, let’s say the Senators are the +220 underdogs when they face the -270 Maple Leafs in Toronto.
Those NHL odds imply the Senators have a 31.25% chance of winning compared to the Maple Leafs’ 73%.
Regarding underdogs, those hit with a + before the odds, the odds (+220 in the above example) indicate how much you’ll win on a $100 bet.
So if you put $100 on the Senators and they win, you’ll earn $220. A winning $10 bet would yield a $22 profit.
For favourites, the hockey odds indicate how much money you’d have to wager to win $100. So, you’d have to wager $270 on the Maple Leafs to profit $100. A winning $10 wager would profit $3.70.
It doesn’t matter whether the team you back on the moneyline wins in regulation, overtime, or in a shootout. Your bet wins as long as the team you wagered on prevails.
NHL Puck Line
The NHL puck line is hockey’s version of a point spread.
Again denoted with a + or -, the puck line represents how much a team needs to win by or how many goals a team can afford to lose by.
Standard puck lines are denoted as +1.5 or -1.5.
Using the previous teams as an example, let’s say the Maple Leafs are playing at home against the Senators. Like the moneyline, the – denotes favourites and the + underdogs.
As home favourites, the Maple Leafs are tagged with a -1.5 puck line. If you back the Maple Leafs on the puck line, they must win by at least two goals for the bet to hit.
Conversely, the Senators will have a +1.5 puck line in this example. If you bet on the Senators, they cannot lose by two or more goals. Your bet is a winner if they lose by a goal or win the game.
There are alternative puck line totals where a team will be more heavily favoured. For example, the Maple Leafs might have a -2.5 puck line against the Calgary Flames (+2.5).
If you bet on the Maple Leafs, they must win by three or more goals for the bet to hit. If you back the Flames, they can lose by two or fewer goals or win the game.
Like moneyline bets, odds will be represented by – for favourites and + for underdogs.
NHL Totals
NHL totals allow bettors to select whether a game will have more or fewer goals than the set pregame number.
Usually, the total will be set between 5.5 and 6.5 goals.
When more offensive teams play, the total will probably be 6.5. The total will most likely be 5.5 when two defensive teams battle.
Let’s say the total is 6.5 when the Senators and Maple Leafs play. Bettors will either choose the Under or the Over.
The game can have up to six goals if you select the Under, and it must have at least seven goals if you choose the Over.
You can have a push or tie if the total is six or any other whole number. In this example, for an Under bet to win, there cannot be more than five goals. For an Over bet to win, there must be at least seven goals.
If the game ends with six goals, it will result in a push. The stake will be returned in those circumstances, resulting in no loss or profit.
NHL Prop Bets
Prop bets, short for proposition bets, focus on players or a team’s statistical output (game props) rather than the final score, the outcome, or total number of goals.
Prop bets may or may not have any bearing on the outcome. Prop bet options are extensive.
Some of the more popular prop betting options, both for players and teams, include but are not limited to:
- Number of goals (player or team)
- Goaltender’s number of saves, represented as Over/Under
- Player’s assists
- Player’s points
- Player’s shots on goal
Prop bets allow bettors to look for what they believe are advantages. For example, a bettor might like a player to get Over 2.5 shots after seeing he’s on a streak of several games with at least three shots.
In addition, he might be playing a team that consistently allows many shots and is on the second game of a back-to-back.
Keep in mind that the online sportsbook will adjust the betting lines based on those circumstances.
NHL Live Betting
NHL live betting allows bettors to bet on games that have already started.
Most pregame bet types are also available for live betting.
Some live betting options include NHL totals, the moneyline, team prop bets, and the puck line.
Live betting odds and totals are updated frequently and in real-time, so it’s important to keep an eye on the potential bets you’re interested in and lock them in when the odds are optimal.
One of the best things about in-game betting is getting a feel for how each team is performing. If one team has the momentum, is on top territorially, and you believe it’s only a matter of time before they score, you can place a bet to that effect.
Of course, territorial supremacy doesn’t always result in that team scoring, taking the lead, or winning the game.
NHL Parlays
A parlay bet combines multiple wagers into one bet. Each wager is referred to as a leg. There are a few key points to consider when committing to a parlay.
First, each leg or individual bet in the parlay bet must hit for it to be a winner.
Second, parlays increase the potential profit margin but decrease the overall win probability. The BetMGM online sportsbook has a parlay calculator on the right side of the page that highlights the odds of each leg while showing the total stake and potential return.
There are two parlays: a regular parlay encompassing a combination of wagers across a few games or a same-game parlay comprising multiple bets from the same contest.
For example, a regular $10 parlay has the Maple Leafs (-161) beating the Montreal Canadiens, the Winnipeg Jets winning against the Edmonton Oilers (+145), and the Vancouver Canucks (-200) prevailing over the Calgary Flames.
The bettor will make a $49.54 profit if all three teams win, thanks to the combined +495 odds.
Can I Bet on the NHL in Alberta?
Sports bettors can bet on the NHL in Alberta, albeit in a limited capacity.
While Alberta sports betting online is legal, there’s only one regulated online sportsbook overseen by the Alberta Gaming, Liquor and Cannabis Commission (AGLC).
Only single-game wagers are permitted, and no online sports betting apps are available.
However, in May 2024, the province passed Bill 16, the Red Tape Reduction Statutes Amendment Act, which allows the provincial government to regulate and oversee iGaming activities.
That is expected to pave the way toward expanding online sports betting to more closely align and resemble the Ontario online gambling model, which allows third-party operators like the BetMGM online sportsbook.
When that eventuality occurs, those 18 years old or over will be able to access various sports betting options, including moneyline, puck line, NHL totals, parlays, player props, game props, live bets, and more.
While no confirmed timeline has been set, the expansion could happen in 2025.
