The Types of Available Hockey Betting Markets in Canada
There is certainly no shortage of hockey betting markets available to Canadians. A lot of the traditional hockey betting markets are still the most popular, but newer varieties are starting to make their mark as well. Here are some of the hockey bet types that Canadians are loving the most.
Money Line Betting
When most Canadians think about hockey betting, they imagine money line betting. Perhaps they don’t know the specific term for it (as you do now) but picking one team to beat another is as simple as it gets.
For example, picking the Calgary Flames to straight to beat the Edmonton Oilers. It doesn’t matter if the Flames were to win 1-0 or 10-1. A money line bet just requires them to win outright.
Spread Betting (Puck Line Betting)
Perhaps you’ve heard the expression ‘cover the spread’, which is commonly used in both hockey betting and general sports betting.
Spread betting (sometimes called puck line betting within a hockey betting context) is similar to money line betting, with the key difference being that the number of goals each team scores is relevant.
For example, if the Toronto Maple Leafs are -1.5 favourites on the puck line, they have to win by two or more goals for a wager on them to cash.
Conversely, if the Leafs are facing the Montreal Canadiens and Montreal is +1.5 underdogs, a bet on the Canadiens would win if they lost by less than two goals or win outright.
Totals (Over/Under) Betting
Is betting on the winner or loser of a particular game not really your speed? Don’t fret, as there are other ways to get involved including totals betting – also commonly known as ‘over/under’ betting.
The most traditional form of totals betting pertains to the final score. Essentially, each hockey game is given a projected total of goals. This means the total sum of goals scored by both teams.
From there, you would bet on a score finishing either ‘over’ or ‘under’ a specific total. For example, a game between the Winnipeg Jets and the Ottawa Senators had a projected goal total of 6.5.
A bet on the ‘over’ would need seven or more total goals scored to cash, whereas a bet on the ’under’ means wagering on six or less total goals.
Perhaps you have a knack for predicting future hockey-related events. Futures betting often means wagering on the outcome of either a team or player-related event.
For example, betting on Maple Leafs star forward Auston Matthews to win NHL MVP or wagering on the Oilers to win the Stanley Cup.
These kinds of bets can be made very early in the season, and some can even be taken out in the off-season prior to the start of a new year.
Prop betting takes totals betting to a whole new level. Props are often linked to statistics involving individual players but can sometimes be linked to teams.
For example, picking Oilers star Connor McDavid to record over 1.5 points (two points or more) or picking one team to score under 1.5 goals in the second period.
A lot of NHL games have alternative prop betting markets available as well, with the odds scaling to match.
For example, if the main McDavid point totals prop market is 1.5, there may also be alternative totals markets of 0.5 points with shorter odds or 2.5 points with longer odds.
Do you want to place some bets on any of the aforementioned markets after the puck has already dropped? Luckily, you now can.
Live betting simply means placing wagers during a game as opposed to beforehand. This was considered an illegal act throughout most of hockey betting history, but now it’s another fun way to play.
Canadians love to engage in live betting when a player starts a game hot. For example, if Matthews scores two goals in the first period, it may be a good idea to bet on him recording a hattrick (a hockey term used to describe when a player scores three goals in a single game).
Best Canadian Sportsbook for Betting on Hockey
There are plenty of sportsbooks available to Canadians who want to bet on hockey. Some of the most popular include FanDuel and DraftKings.
Both will have special hockey betting markets exclusive to the Canadian games that are taking place.
Those looking to support domestic books should use operators such as Sports Interaction and PointsBet. There will often be odds boost and other promotions relating to Canadian teams and players.
In some provinces, the only alternative to unregulated offshore book is to use PlayNow.com, which is a sportsbook run through provincial lottery and gaming corporations.
How To Sign-Up For A Sportsbook
Once you’ve read the above information and decided on which sportsbook you would like to use, it’s time to sign up.
It’s never a bad idea to have an account with multiple sportsbooks. That way, you can compare the odds of similar markets and make you’re getting the most competitive available.
But for now, choose your first sportsbook. Take some time to check out a sportsbook’s features, and also take note of what the current promotions are. There’s nothing wrong with picking a specific sportsbook because it simply has the best welcome offer.
Making the account itself is similar to making an account on almost any website. You will need to fill out a virtual form requiring personal information such as your name, home address, and phone number.
You will also need to provide some kind of proof of identity. Usually, a picture of your drivers license or any other government-issued ID will suffice.
Once your account and your identity have been verified, you’re ready to make your first real cash deposit. This usually takes a few minutes to process but is fairly quick.
After the money has been successfully deposited, you’re ready to begin evaluating hockey betting markets. Once you know which game you’d like to bet on, click on it to see all available markets.
From there, add the bets you’d like to make to your bet slip. Whenever you enter an amount of money you’d like to wager, the bet slip algorithm will do the math so that you can see how much you can hypothetically win.
Once you’re satisfied with your slip, hit ‘submit’ and your wager will officially be recorded. Once the game is over, the bet will ‘settle’ and if you’ve won, your profit should be credited to your account balance within minutes.
After you’ve received it, you can either use the funds to place other bets or make a real cash withdrawal. If you choose to withdraw, it can take between 1-5 days to receive your funds, depending on the withdrawal method.
Now that you’ve learned the basics, you’re ready to make your first hockey bet. Good luck!