Hockey betting guide
Hockey betting odds explained
Hockey betting odds state the return for a stake and imply a market probability. They do not tell you what will happen in one game.
- Negative oddsThe amount needed to profit C$100
- Positive oddsThe profit from a C$100 stake
| Market | What settles it | Practical distinction |
|---|---|---|
| American | -150 | Stake C$150 to profit C$100 |
| Decimal | 1.67 | Total return is about 1.67 times the stake |
| Implied probability | 60% | Break-even estimate before adjusting for margin |
Positive and negative American odds
At -150, a C$150 stake returns C$100 profit if the bet wins, plus the stake. At +150, a C$100 stake returns C$150 profit if the bet wins, plus the stake.
Negative odds usually identify the shorter-priced side. Positive odds usually identify the longer-priced side. The price can change before a bet is accepted.
Implied probability
For negative American odds, implied probability is the absolute odds number divided by that number plus 100. At -150, that is 150 divided by 250, or 60 percent.
For positive American odds, implied probability is 100 divided by the odds number plus 100. At +150, that is 100 divided by 250, or 40 percent. Sportsbooks include margin in their prices, so implied probabilities across every outcome can add to more than 100 percent.
American odds versus decimal odds
Decimal odds express the full return for each unit staked. A C$100 bet at decimal 2.50 returns C$250 in total if it wins: C$150 profit plus the original C$100 stake. That is the same return as American +150.
For a negative American price, divide 100 by the absolute price and add one. The decimal equivalent of -150 is approximately 1.67. For a positive American price, divide it by 100 and add one, making +150 equal to 2.50. Our moneyline guide shows why the settlement period must also match when comparing two prices.
Price shopping without mixing markets
Compare identical outcomes at identical settlement periods. A standard moneyline that includes overtime cannot be compared directly with a regulation-only price, even if both display the same team name. The same warning applies to full-game totals, team totals and period totals.
Check the potential profit in the bet slip before confirming. If two books offer the same market and rules, the stronger price leaves more potential return with the bettor. The sportsbooks we tested were compared on NHL pricing and market depth alongside practical payment checks, while the complete hockey betting guide explains the underlying market types.
Common odds-reading mistakes
The minus sign does not mean the team is expected to lose; it usually marks the favourite in American odds. The displayed return also includes different concepts: profit is the amount won, while total return includes both profit and the returned stake.
Most importantly, implied probability is a conversion of the offered price, not an objective prediction. Sportsbook margin means the implied probabilities on every side can add to more than 100 percent.
Example
American odds at a glance
Prices include sportsbook margin and can change before a bet is accepted.
Before you bet
Read the operator’s current market rules before placing a bet. Set a stake you can afford to lose, and do not treat an explanation of a market as a reason to bet.
See NHL betting in Canada for the market overview, or responsible gambling for limits and support options.
Common questions
What do negative hockey odds mean?
Negative American odds show how much must be staked to produce C$100 profit. At -150, that stake is C$150.
What do positive hockey odds mean?
Positive American odds show the profit from a C$100 stake. At +150, a winning C$100 stake produces C$150 profit.
Are odds the same as probability?
Odds can be converted into implied probability, but the result reflects the offered price and sportsbook margin rather than a certain forecast.