NHL Hockey Betting in Canada

A Stanley Cup winning team from Canada could be a possibility in 2015. Understanding betting odds is the first step for being able to place a NHL hockey bet. Here is a breakdown of the three main odds formats:

DECIMAL ODDS

This is the most common odds format in Canada and is used by each of the provincial sports lotteries such as Proline. To find the payout for this format, multiply the selections decimal odds by your wager amount.

For example, imagine the odds of the Red Wings beating the Maple Leafs is 1.70. On a $10 wager, the payout is $17 (1.70 x 10). Multiplying the decimal odds by your wager amount, calculates the entire payout. To calculate potential winnings on the bet, subtract the wager amount from the payout. In the above example, the potential winnings are $7 because the payout includes the $10 stake.

AMERICAN ODDS

This is the most common odds format in the United States. American odds involve (+) and (-) signs and how the odds relate to $100.

A (+) sign in front of the odds means that the number is the amount that a $100 bet wins. This is the underdog team. For example, imagine the Oilers with odds of +245. A $100 bet wins $245. A $10 bet wins $24.50.

A (-) sign in front of the odds means that the number is the amount bet in order to win $100. A (-) sign indicates the favoured team. For example, imagine the Ducks odds of beating the Oilers are -280. To win $100, $280 must be wagered. To win $10, $28 must be wagered. 

FRACTIONAL ODDS

Fractional odds are often used by online betting sites for futures wagers. Basically the numerator (first/top number) is the amount you will win by wagering the denominator (second/bottom number). For example, imagine the Blackhawks are 10/1 to win the 2015 Stanley Cup. If the Blackhawks win the Cup, a wager of $1 wins $10.