NHL Picks and Parlays
In the realm of sports betting, NHL picks and parlays offer a unique and potentially lucrative way to engage with hockey bets. Whether you're a seasoned bettor or a newcomer looking to understand the nuances of NHL lines and parlays, this guide provides a comprehensive overview of how these bets work, their benefits, and the specifics of NHL parlay picks.
Understanding NHL Picks
In NHL betting, a "pick" refers to a selection in any single game where the bettor chooses a team they believe will win. This straightforward approach is the foundation of betting on NHL games, where the outcomes are typically predicted based on factors like team performance, historical matchups, injuries, and more. Picks can be used for various types of bets including moneylines, puck lines, and over/unders.
For example in an Edmonton Oilers vs. Calgary Flames game: You might bet on the Oilers to win if they have been on a winning streak and have a strong home record against the Flames. If the Oilers' odds are -140, you would need to bet $140 to win $100, assuming they win the game.
What Are Parlays?
Parlays combine multiple picks into a single bet. To win a parlay, every individual pick within the parlay must win; if any of them loses, the entire parlay is lost. This all-or-nothing nature makes parlays a higher-risk, higher-reward option compared to single-game bets.
Parlays are popular due to their potential for high payouts with relatively small wagers. The odds for each pick are multiplied together, offering a larger payoff than betting the same amount on each game individually.
Parlay Insurance at Bodog
At Bodog, bettors have an added layer of security with parlay insurance. You can place your parlay bet of 5+ selections on NFL, NBA, NHL, MLB, and MMA, and if you fail in one of them, we cover you.
How Parlays Work
To place a parlay bet, bettors choose two or more teams or totals to include in their bet. For example, a bettor might combine three moneyline picks into one parlay bet:
- Toronto Maple Leafs to win against the Montreal Canadiens.
- Vancouver Canucks to win against the Calgary Flames.
- The total goals in the Detroit Red Wings vs. Boston Bruins game to go over 5.5.
If all these picks prove correct, the bettor wins the parlay. If even one leg fails, the entire bet is lost.
Differences Between Parlays and Other Types of Bets
Unlike straight bets where you wager on a single outcome, parlays involve multiple outcomes. This complexity increases both risk and potential return. Parlays also differ from teasers, another type of multi-leg bet, where the spread or totals line is adjusted in favor of the bettor, but with reduced odds.
Let’s imagine the following parlay bet:
- Game 1: Ottawa Senators (+110) vs. Pittsburgh Penguins
- Game 2: Over 6 goals in New York Islanders vs. New Jersey Devils (-120)
- Game 3: Edmonton Oilers to win against Nashville Predators (-130)
In this parlay, a bettor needs the Senators to win (or lose by less than the spread), more than 6 goals scored in the Islanders-Devils game, and the Oilers to win outright.
However, in a single game bet:
Chicago Blackhawks (-150) vs. Florida Panthers (+130)
The Blackhawks are favored; a successful $150 bet on them yields $100 if they win. Conversely, a $100 bet on the underdog Panthers yields $130 if they upset the Blackhawks.
NHL Parlay Picks
When choosing parlay picks, consider factors such as team form, injuries, and historical performance against opponents:
- Betting on teams with strong home records or against teams on a losing streak.
- Including an underdog that has a history of upsets over their opponent.
NHL picks and parlays provide an exciting way to engage with the sport, offering the potential for significant payouts. Understanding how these bets work, and using tools like parlay insurance, can enhance your betting strategy.