NHL American Odds Explained
It is easy to compute how much money you will profit from NHL American Odds. If you place a bet of $100 at +150 odds, your profit would be $150 on that bet. If you bet $10 your profit would be $15, while if you bet $20 your profit would be $30.
It is a bit more confusing when you bet and the line is negative. The set up of most US sportsbooks is "to risk". For instance, it is assumed that sports betters will bet in order to win a certain amount. So based on the $100 example at -150 odds, you would need to risk $150 to win $100.
If you are not interested to bet "to risk", this is the simple formula.
x = the amount you wish to bet.
y = the odds. -150 would just be 150 (no negative).
z = the amount of profit.
NHL Decimal Odds Explained
NHL decimal odds are easier to understand. When a bet is placed, it may be considered as a "unit".
For example, there is a bet of $100 and the odds are 1.67. The "1? part may be a little misleading as that includes the return of the bet, not just the profit. If you exclude that, you get 0.67% of the unit in profit, or $67 total profit.
NHL Fractional Odds Explained
Although fractional odds often look simple enough, they can be a little complicated sometimes depending on the odds.
To illustrate: 2/1 odds means "betting 1 to win 2. So if you bet $100 you will win $200. However the odds can get quite difficult. For example, there are odds like 20/27 which means for every $27 bet, there is a $20 profit.
Play around with all of the odds until you determine what is best for you. Some of them will seem confusing even if you've used them a number of times. There are others that you will find fairly easy to understand so you'll end up using them to calculate all of your NHL bets.
What Other Betting Odds Displays Are There?
Besides American, Fractional and Decimal Odds there are Hong Kong Odds, Indonesian Odds and Malay Odds.