If you are going through this article right now, you probably have heard so much about the National Hockey League and its teams which have made hockey what it is today.
And you probably can’t wait to find out the team that is likely to win and the team that constitutes the underdog in today’s hockey bet picks.
Look no further, this article has you covered. This article will help you know the favorites and the underdogs, how to know who to bet on and if your hockey bet picks are worth buying at all.
So, let’s go look further to find out. But first of all, let’s discover what the hockey sports betting picks are all about.
What are the Hockey Sports Betting Picks All About?
First of all, hockey sports betting picks are suggestions as to who would likely win an event or not. These are usually sold by handicappers for a fee.
For instance, a friend could tell you to choose the Colorado Avalanche as the likely winner under the moneyline betting platform over the Montreal Canadiens. This is what is referred to as a pick in the hockey betting world.
In today’s hockey bet picks, the teams which are likely to win the game in a season are referred to as the favorites. On the other hand, those considered as not likely to win are the underdogs.
The favorites usually get a minus sign close to the odds. For instance,-500.
While the underdogs get a plus sign. For instance, +500.
Also, if you bet the favorites, your profit is smaller to what you paid. For example, for -500, you will have to pay $500 using the money line platform and if the team eventually wins, you get $100.
The Moneyline Betting Platform
In today’s hockey bet picks, the money line has become one of the popular methods of picking a favorite or underdogs.
The money line method uses the American odds to evaluate the payout at the end of the season.
American odds uses the $100 payout method.
If you’re picking a -400 favorite, you will have to bet with $400 to win $100 if the team wins. The same goes for the underdogs.
However, giving your bet to the underdog constitutes a greater risk than when you do so for the favorites. Nevertheless, this leads to higher return on investment if they eventually win.
Thus, the more the risk, the higher the reward. For instance, for every $40, you will win ×2 resulting in $80.
What Does the -500 Number Signify?
In today’s hockey bet picks, there are usually two numbers like this, -5.7 and -500 which is usually below it.
The -500 number indicates the price you need to pay to bet the spread. The spread, -5.7 is the margin of victory your team needs to win against the others.
How Do I Know Who to Bet On?
Here comes another story. In today’s hockey bet picks, it is one thing to know the favorites and another to know who to really bet on.
In today’s hockey bet picks, you’ll come to know that you don’t just pick on who you think will win the game.
You would want to be more concerned about making the right picks so you do not end up losing your money but making profits.
Now, if you’re betting on the team more likely to win, it may be clear that you’re going to win a lot of your bets but you’re not going to make profits.
On the other hand, if you’re betting on the underdogs, you probably won’t be winning every time but you’re going to gather a whole lot of profits when you win.
For instance, When you bet $200 for -200 in the payout odds, you’re going to win $100 when using the payout odds.
This shows you’re earning less than you pay for. And this happens for three consecutive times, you’re going to win $300 and lose $300 as well in all three bets.
Comparing it to the underdogs, you may not win every time but when you eventually do, it could compensate for all the times you’ve lost.