NHL Betting Guide for Canadians: Moneyline, Puck Line and Totals
By StakeReferralCode.ca Editorial Team · Updated
Most NHL bets come down to three questions: who wins (the moneyline), by how much (the puck line), and how many goals get scored (the total). Learn those three markets, plus how overtime and shootouts are settled, and you can read almost any hockey betting board. Nothing here is a pick or a prediction. Hockey is low-scoring and high-variance, and no system turns it into a sure thing.
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A quick word on odds formats
Canadian sportsbooks usually show decimal odds, though you'll also see American odds (+150 / −200). Decimal odds tell you the total return per dollar staked, including your stake. A $20 bet at 1.80 returns $36: your $20 back plus $16 profit.
To turn decimal odds into the probability the price implies, divide 1 by the odds. Odds of 1.80 imply about 55.6%. That number is the bookmaker's price, not a fact about the game. If you want a deeper refresher, see our guide on how to read betting odds.
The moneyline: picking the winner
The moneyline is the simplest hockey bet. You pick a team to win, and the odds reflect how likely the market thinks that is. The favourite pays less; the underdog pays more.
Does overtime count?
This is the most important hockey-specific rule. On most sportsbooks the standard NHL moneyline includes overtime and the shootout. If your team wins in a shootout, your moneyline bet wins.
Many books also offer a regulation-time (60-minute) market, or three-way moneyline: home win, away win, or a tie after 60 minutes. Because a draw is possible, both team prices are longer. Always check which version you're clicking, because a team that wins in overtime is a winner on one market and a loser on the other.
The puck line: hockey's point spread
Hockey games are usually decided by a goal or two, so the NHL's version of a point spread is almost always set at 1.5 goals.
- Favourite −1.5: must win by two or more goals.
- Underdog +1.5: wins the bet if it wins outright or loses by exactly one goal.
The favourite at −1.5 pays more than on the moneyline; the underdog at +1.5 pays less. Alternate lines (−2.5, +2.5) are often available too.
Empty-net goals and overtime
Two hockey quirks shape the puck line:
- Empty-net goals. A team trailing late often pulls its goalie for an extra skater. That can produce a late goal either way, which can turn a one-goal game into a two-goal game, or bring a trailing team back level.
- Overtime games end by one goal. A game decided in overtime or a shootout is a one-goal result, so a favourite at −1.5 can't cover. Check how your book settles shootouts: it is common for the shootout winner to be credited with one goal in the final score, but read the market rules to be sure.
Totals: over or under
A total (over/under) is a bet on the combined goals scored by both teams. NHL totals are usually set at a half-goal number, such as 5.5 or 6.5, so there's no push. Whole-number totals can exist; if the final lands exactly on the number, the bet is usually refunded.
Starting goalies, injuries, back-to-backs and team styles all move totals. Whether overtime goals count depends on the market, so check the rules.
Worked example: one game, three markets
Here's a single game with illustrative numbers only, not real odds:
| Market | Selection | Decimal odds | Implied probability | $20 bet returns |
|---|---|---|---|---|
| Moneyline | Toronto Maple Leafs | 1.80 | 55.6% | $36.00 |
| Moneyline | Montreal Canadiens | 2.10 | 47.6% | $42.00 |
| Puck line | Maple Leafs −1.5 | 2.60 | 38.5% | $52.00 |
| Puck line | Canadiens +1.5 | 1.50 | 66.7% | $30.00 |
| Total | Over 6.5 | 1.95 | 51.3% | $39.00 |
| Total | Under 6.5 | 1.87 | 53.5% | $37.40 |
A few things stand out:
- The probabilities add up to more than 100%. On the moneyline, 55.6% + 47.6% = 103.2%. The extra is the bookmaker's margin. It's how the house earns over time, and it's why betting has a negative expected value for most people.
- The same game, different risk. Backing Toronto on the moneyline wins if they win by any margin, in any way. Backing them at −1.5 pays more because they now need a two-goal win.
- Results in practice. If Toronto wins 3–2 in overtime, the Leafs moneyline wins, Canadiens +1.5 wins, Leafs −1.5 loses, and the under 6.5 wins (five goals, counting the overtime winner).
Other NHL markets you'll see
- Period betting: moneyline, puck line or total for a single period.
- Player props: goals, points, shots on goal or saves for a named player.
- Parlays: several selections combined into one bet. Every leg must win, and the margin compounds with each leg. Our parlay betting guide covers the maths.
Practical habits for hockey bettors
- Wait for goalie confirmations. Starting goalies are often confirmed close to puck drop, and prices can move when they are.
- Know the settlement rules. Moneyline vs 60-minute market, overtime in totals, and shootout scoring all vary. Read the market rules before betting.
- Compare prices. Different books can price the same game differently. Small differences add up over a season.
- Set a budget and stick to it. Decide your stake before the season, not after a bad night. Never chase losses.
- Keep fandom separate. Backing the Oilers, Flames, Canucks, Jets, Senators, Canadiens or Leafs is fine for fun, but loyalty isn't an edge.
FAQ
Does an NHL moneyline bet include overtime?
On most sportsbooks, yes: the standard moneyline includes overtime and the shootout. A separate regulation-time (60-minute) market settles only on the first 60 minutes, with a tie as a possible outcome.
Why is the puck line almost always 1.5?
Because hockey is low-scoring and many games are decided by one goal. A 1.5-goal line means there's no push and gives the favourite a meaningful hurdle.
How are shootout goals counted?
It depends on the book. A common approach credits the shootout winner with one goal in the final score. Check the market rules before betting puck lines or totals.
Conclusion
The moneyline, the puck line and the total cover most of what you'll bet on during an NHL season. The details that matter most are hockey-specific: overtime and shootouts, empty-net goals and late goalie news. Read the settlement rules, convert odds to implied probability, and bet only what you can afford to lose. If you're in an eligible province and want to try Stake, register through the Claim button on this page and enter code SHIMA in the "Code (Optional)" field.
Related Guides
- Ready to sign up? Start with the Stake referral code SHIMA for Canada.
- Stanley Cup Betting: How Futures Odds Work
- CFL and Grey Cup Betting: Beginner's Guide
- Sports Betting Bankroll Management: Simple Rules
- All Stake guides for Canada
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