The New Jersey Devils, New York Islanders and New York Rangers are all expected to make the playoffs, and we hope our NHL betting tips help Garden State sports bettors win more of their wagers.
Hockey is considered a moneyline sport meaning the majority of the bets are on which team will win or lose the game.
The odds for these markets vary dramatically, and it’s essential to understand how betting odds and implied probability can make the difference between winning and losing.
What are Betting Odds?
Betting odds are the numerical depiction of the probability of a particular outcome in a sporting event or other types of competition.
They are expressed as either fractional, decimal, or American odds and reflect the potential payout to a bettor based on $100 if they correctly predict the event’s outcome.
- New York Rangers -110
- New York Islanders +130
Betting on the Rangers to win this contest would cost the Garden State bettor $110 to win $100. Conversely, the same $100 stake would net the New Jersey bettor $130 if the Islanders were to win this game.
What is Implied Probability?
Implied probability is a calculation that determines the likelihood of a specific outcome based on the odds offered by a bookmaker in sports betting. It’s an estimation of the chances of an event occurring, and it’s essential to determine whether the odds are in a bettor’s favor before placing a bet.
You must convert the odds into a percentage format to calculate implied probability in sports betting. For example, in decimal odds, you divide 1 by the odds and multiply by 100. In American odds, you divide the odds by the positive odds and add 1, then convert to a percentage. This percentage represents the implied probability of that outcome occurring.
Three Main NHL Bets: Moneyline-Puck Line-Total
- A hockey moneyline market is a type of sports betting wager where you bet on which team will win a game outright. The moneyline displays the odds of each team winning, and you bet on either the favorite or the underdog. The payout for a moneyline bet is based on the odds and the amount wagered.
- A hockey puck line market is a bet similar to a point spread in NFL football. The puck line is typically set at +/- 1.5 goals, and you bet on which team will cover the spread. This means the favorite team must win by at least two goals, and the underdog can lose by no more than two goals. The payout for a puck line bet is based on the odds and the amount wagered.
- A hockey total, or over/under bet, is a type of sports betting market where you wager on the total amount of goals scored in a contest. The oddsmaker sets a line for the total goals, and you bet on whether the actual number of goals scored will be Over or Under that line. The payout for an Over/Under bet is based on the odds and wagered amount.
7 Stanley Cup Playoff Betting Tips
- Look at the regular season performance: Before betting on any playoff game, it’s essential to consider the regular season performance of each team. This will give you a good idea of their strengths and weaknesses and how they match up against their opponents.
- Analyze the matchups: Analyze the head-to-head matchups of the two teams in the playoff series. Look at their previous games and how they have performed against each other. Also, consider the style of play of each team and how it may affect the outcome of the game.
- Look for value in the underdogs: In the NHL playoffs, underdogs can often provide good value in the betting markets. Look for teams with a strong goaltender or a strong defense with a strong power play that can keep the game close and potentially pull off an upset.
- Monitor injuries: Injuries can have a significant impact on the outcome of a game. Before placing your bet, check for any injuries that could affect a team’s performance.
- Bet on the series outcome: Rather than betting on individual games, consider betting on the outcome of the entire playoff series. This often provides better value and allows you to hedge your bets if one game doesn’t go as planned.
- Watch the line movements: Keep an eye on the line movements and betting trends leading up to the game. This can help you identify where the smart money is going and make more informed betting decisions.
- Manage your bankroll: Finally, be sure to manage your bankroll carefully. Only wager what you won’t miss if you lose it all and consider using a staking plan to minimize risk. Remember that betting on the NHL playoffs is never a sure thing, so it’s essential to bet responsibly and within your means.
NHL Prop Bets
Prop bets are another way for New Jersey bettors to wager on Stanley Cup Playoff games.
What is an NHL Prop Bet?
An NHL prop bet is a sports bet where you wager on specific events or individual outcomes during a game or season, such as which player will score the first goal or the total number of penalty minutes by a player or team.
Prop bets can be based on individual players, teams, or statistical categories, and the payout for a prop bet is based on the odds and the amount wagered.
- Research the players and teams: Prop bets are often based on individual players or teams, so it’s essential to research their performance and stats before placing a bet.
- Consider the matchup: The matchup can play a significant role in the outcome of a prop bet. Look at how the player or team has performed against their opponent and consider any strengths or weaknesses that may affect the outcome.
- Pay attention to injuries: Injuries can impact a player’s performance, so check for any injuries that could affect the outcome of a prop bet.
- Be selective: With so many different prop bets available, it can be tempting to bet on everything. However, it’s essential to be selective and focus on the prop bets that offer the best chance of winning.
- Don’t ignore long shots: While long-shot prop bets may have lower odds of winning, they can offer a higher payout. Consider placing a small bet on a long shot to add some excitement to the game.
Last but not least, make sure to check out our guide about NHL betting in New Jersey.
