NHL Betting Guide
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NHL Betting: Odds Explained
There are three ways NHL Odds can be expressed. These three are: American Odds, Decimal Odds, Fractional Odds.
NHL Odds Explained: Decimal Odds
If you are located in Canada, you should be used to decimal odds. Decimal odds are expressed as a decimal.
Example: Ottawa 2.05 vs New York 1.85
Ottawa listed at 2.05 makes them the underdog for this game.
The first digit, “2” indicates you will win at least even money if your wager wins. (Odds of exactly 2.00 would be an even money wager)
The second digits “05” indicate how much more than even money you will win.
In this particular example, if you place a $100 wager on Ottawa and win, you will win $105 profit.
How did we do that? Multiply $100 x 2.05 = $205 – $100 wager = $105 profit.
To calculate only the profit, simply multiply your wager of $100 by 1.05. 100 x 1.05 = $105.
If your first digit is less than 2, you will win less than even money.
Example: A wager on New York 1.85, means on a $100 wager, you will only win $85 in profit. $100 x 1.85= $185- $100 wager= $85 profit.
To calculate only the profit in one calculation: $100 x .85= $85.
What about numbers higher than “2”? If your odds were, say “3.05”, then you would win
more than double your money. Example: Jets 3.05 . On a $100 wager, you would win $205 in profit ($100 x 2.05= $205 profit).
Odds of 3.00 would earn you, in profit, precisely double your wager.
Apply these principles to any wager amount and any odds and you will easily calculate your total return!
American NHL Odds
If you live in America and have bet on NHL, or have been to a Las Vegas Sports Book, you have probably seen American Odds before. American NHL Odds are displayed as either a + or – sign, and a number.
A negative number “Example: -110″ means that you will win less than even money (similar to a “1” in decimal odds).
-110 Odds mean that for every $100 you wish to win in profit, you must risk $110. The number to the right of the “-” sign means you must risk that amount to win $100. Another example: -125 means in order to win $100 profit you must risk $125.
If the number is positive “+”, you will win that amount by wagering $100. You are winning more than even money.
Example: +105 means if you risk $100 you will win $105. If you look at the decimal odds example again, you will see that 2.05 is the same as +105 in American NHL Odds.
As you can see, American NHL Odds revolve around $100 bets. Not everyone is betting $100. For this reason, all of our picks will be released in Decimal Odds.
Converting Between Decimal Odds and American Odds
Listed as American Odds: If you want to convert American to Decimal Odds, use the following formulas:
If American Odds Pay MORE than even money (Example: +105):
(AMERICAN ODDS/100) +1 = DECIMAL ODDS. Example: 105/100 = 1.05 + 1 = 2.05. The decimal odds for +105 are 2.05
If American Odds Pay LESS than even money (Example: -110):
(100/AMERICAN ODDS) +1 = DECIMAL ODDS. Example: 100/110 = .90 + 1 = 1.90. The decimal odds for -110 are 1.90.
Listed as Decimal Odds: If you want to convert Decimal to American odds, use the following formulas:
If Decimal Odds pay MORE than even money (Example: 2.05):
(DECIMAL ODDS-1) x 100 = AMERICAN ODDS. Example: 2.05 – 1 = 1.05 x 100 = 105. The American Odds for 2.05 are +105.
If Decimal Odds pay LESS than even money (Example: 1.9091):
(-100) / (DECIMAL ODDS – 1) = AMERICAN ODDS. Example: (-100) / (1.9091 – 1) = (-100)/(0.9091) = -109.99 rounded to -110. The American odds for 1.90 are -110.
Fractional NHL Odds
Fractional odds seem pretty simple on the surface, but can get pretty complicated. You’ve probably heard “Three to One” expressed before.
3 to 1, or 3/1, means exactly that: you are wagering 1 to win 3. The principle is simple enough: if you are wagering to win more than even money, your numerator (top number: 3) will always be larger than your denominator (bottom number: 1).
Now: what if the numbers aren’t “pretty” , like 3/1? For an example we will use a scary looking combination like : 28/17.
You know you will win more than even money (as the “28” is higher than the “17), so now the question is how much more? Multiply your wager, by the numerator (top number) and divide that number, by the denominator (bottom number).
Example: $100 wager on 28/17 odds. Wager $100 x 28 = $2800 / 17 = 164.71 . A $100 wager on 28/17 odds will win you $164.71 profit.
If your numerator is less than your denominator (Example 1/10), then you are wagering to win less than even money. Use the same calculation to determine your payout. ($100 wager x 1 = $100 / 10 = $10. On a $100 wager with 1/10 odds you will win $10.
That’s all there is to it! Remember, our Free Picks will display decimal odds. Your sports book will allow you to choose which odds you prefer to display. You should see a drop-down menu on top or a setting in your settings or preferences.