American odds use $100 as the reference point. Positive odds show the profit from a $100 stake; negative odds show the stake needed to make $100 profit.

• At +150, a $100 bet produces $150 profit and a $250 total return.
• At -150, a $150 bet produces $100 profit and a $250 total return.
• With a $100 stake at -150, profit is $66.67 and total return is $166.67.

The calculation depends on the sign:

• Positive odds: profit = stake × (odds ÷ 100)
• Negative odds: profit = stake × (100 ÷ |odds|)
• Total return: stake + profit

Converting odds to probability

Implied probability is the break-even percentage represented by a price, before accounting for the sportsbook’s edge.

• Positive odds: 100 ÷ (odds + 100)
• Negative odds: |odds| ÷ (|odds| + 100)

Thus, +150 implies 40%, while -150 implies 60%.

Sportsbooks build margin into markets. If both sides are -110, each implies 52.38%; together they total 104.76%. The extra 4.76 percentage points represent the market’s overround, not a claim that both outcomes can exceed 100% in reality.

Decimal odds express the same prices differently. +150 becomes 2.50, while -150 becomes about 1.67. Decimal odds show total return per unit staked, including the stake. This interpretation remains consistent for moneylines, totals, props, and other markets. For parlays, the decimal prices of all legs are multiplied to find the combined price.

A standard NHL game-winner moneyline usually has two choices: favorite or underdog. If the favorite is -150 and the underdog is +130, the selected team only needs to win the game. Overtime and the shootout generally count.

A three-way regulation market adds a third choice: the draw. It is settled using the score after 60 minutes:

• Favorite leads after regulation: favorite wins.
• Underdog leads after regulation: underdog wins.
• Score is tied: draw wins.

Suppose the favorite and underdog are tied 2–2 after three periods. A standard moneyline bet remains alive through overtime and any shootout. In the three-way market, both team selections have already lost; only the draw cashes, even if the favorite eventually wins.

The essential check is the sportsbook’s market label and rules. “Game winner” commonly includes overtime, while “60-minute,” “regulation,” or “three-way” markets do not.

The puck line is hockey’s point spread, usually 1.5 goals. A -1.5 favorite must win by two or more; a +1.5 underdog can win outright or lose by one.

• Maple Leafs -1.5: A 4-2 win cashes. A 3-2 win loses the wager despite Toronto winning.
• Canadiens +1.5: A 3-2 loss cashes. A 4-2 loss does not.

The price reflects the required margin. A heavy favorite may have a costly moneyline but offer a better payout at -1.5 because winning by two is harder. Conversely, +1.5 usually pays less than the underdog moneyline because a one-goal loss still cashes.

Picking the game winner is not enough when the ticket requires that team to cover the puck line.

A full-game total compares the combined score with the posted line. At 6.5, seven goals cash the over and six cash the under. A team total uses only one club’s goals, while a period total counts goals scored during the named period.

Whole-goal lines can produce a push. If a game total is 6 and the covered score finishes 4–2, over and under stakes are normally refunded. Half-goal lines such as 5.5 cannot land exactly, so they produce a winner unless another void rule applies.

Overtime depends on the market label and sportsbook rules. Standard full-game totals commonly include overtime and the shootout-deciding goal; regulation totals stop after 60 minutes. Period totals end with that period, so later scoring is irrelevant. Checking the bet slip for “including overtime” or “regulation only” prevents most confusion.

An empty-net goal is graded like any other goal when scored inside the wager’s covered period. A late empty-netter can therefore move a total over, defeat an under, or change a team total—even if the game’s likely winner was already clear.

Season-long futures cover division titles, conference winners, and the Stanley Cup. Their prices combine current standings with months of uncertainty: injuries, trades, form, and the difficulty of a likely playoff path. A Cup winner carries a lower probability than winning one game because the team must survive several rounds.

Playoff series bets concern one matchup and usually settle within days or weeks. Home-ice advantage, goalie health, roster availability, and matchup fit can matter more than the full-season standings alone.

A long settlement creates an extra cost: the stake remains unavailable while circumstances change. Comparing sportsbooks is especially important here, since a modest odds difference can materially change the eventual payout without adding risk.

Pregame odds are snapshots, not predictions carved in stone. When respected bets or a surge of public money reaches a sportsbook, the book may adjust its price to manage risk or reflect new information. That helps explain why NHL odds move without an injury headline.

Rest and travel also matter. A team finishing a road back-to-back may drift from -130 to -115, while its opponent shortens. Line combinations, scratched skaters, and morning-skate reports can shift moneylines and totals.

Goalie status often creates the sharpest move because the starter directly affects expected scoring. The market impact of a confirmed starting goalie can lower a total or strengthen a favorite, but movement still signals revised pricing—not a guaranteed result.

Pregame odds may drift for hours after lineup news or betting action. Live prices can reset within seconds. A goal changes both the score and the remaining paths to victory, which helps explain why NHL live odds move so sharply.

Penalties create immediate power-play adjustments, while time remaining steadily magnifies every lead. Sustained possession, an empty net, or a goalie pull can rapidly alter moneylines, totals, and next-goal markets. Sportsbooks may briefly suspend betting during dangerous attacks, then reopen fewer markets at revised prices.

A postponed game does not automatically cancel every wager. A sportsbook may keep the bet active if the game is completed within a specified window, while another may void it and return the stake. A changed date or venue can also affect settlement.

The answer to how sportsbooks handle postponed NHL bets comes from the operator’s event and market rules—not a universal industry standard. The postponement window, whether play has started, and the specific market may all matter. A game bet and a player prop can therefore receive different treatment.

Before confirming or evaluating any wager, the odds should be converted into implied probability, and the relevant grading terms should be checked. A seemingly attractive price means little if overtime, participation, rescheduling, or cancellation rules are misunderstood.