The Ulimate Betting Guide for NHL Parlays!
Betting on parlays in the NHL can be extremely profitable. By combining multiple bets on a single bet ticket, you can increase your potential payout substantially.
But, before you place an NHL parlay bet, it's very important that you know how it all works, what the NHL odds would be and what happens in certain situations.
Here are the full details of everything you need to know in this NHL parlay betting guide. If you’re new to online betting we recommend you to check out NHL betting guide first and our guide where explain what are parlays in sports betting.
What is a parlay in the NHL?
A parlay is a bet that involves multiple bets in one slip. Each of these separate bets are known as legs. Each leg represents an individual bet you make on one game.
For instance, a leg might be betting an over in one game, while a second leg could be a moneyline bet on a team in another game.
When you place a parlay bet, you are combining all of these different game bets into one individual bet. The upside is that by combining multiple bets on one parlay betting slip, you are substantially increasing your payout odds.
The downside is that your parlay bet only wins if every single individual bet on the slip wins. If you have seven legs in your parlay bet and "only" six of them win, then your entire parlay bet is considered a loss.
The biggest advantage of placing an NHL parlay bet is the fact that the odds are increased if all of your picks are winners. The best way to see this in practice is to look at an example.
Let's assume that you are considering three separate NHL bets, each that have odds of +110. If you wanted to bet $100 on each of these games separately, you would end up betting a total of $300, and your total potential payout would be $330.
If you combined all of these bets together in an NHL parlay bet, your potential payout would increase substantially -- all the way to $1,650 (or even more). That's because the standard fixed odds for a three-leg parlay in the NHL for standard odds of -110 are +550.
If the original odds are shorter (say +110), your payout odds for the parlay would be even better. The payout odds for parlays may also vary from one sportsbook to the next.
The more legs you add to your parlay, the higher the odds. For example, the payout for fixed odds in a 12-leg parlay are +25000!
What Happens if a Leg Loses?
The biggest downside to NHL parlay betting is that if even one of the legs in the bet loses, then the entire bet loses. If you go this route with parlay betting, you are sure to come across some heartbreaks now and again.
Let's take the example above. If you were to have wagered $100 on each of those three bets individually and one lost, you still would profit $120. That is calculated by…
- Bet 1: Won $110
- Bet 2: Won $110
- Bet 3: Lost $100
If that same scenario happened but you had wagered $300 in a parlay using those same three bets, you would lose your entire $300. That's a pretty major difference of $420 to your bottom line.
What Happens if a Leg Pushes?
This brings up the next obvious question -- what happens if one leg of the parlay ends up being a push? Do you lose your entire bet?
The answer is, fortunately, no. What happens in this scenario is that that leg of the parlay is cancelled out, with the other two still remaining. Your overall odds would be adjusted down based on the number of legs that are still "valid" for the parlay bet.
For example, if you were getting +1100 odds on a four-leg parlay and one of the legs pushed, it would become a three-leg parlay with odds of +550. While this certainly isn't a preferred scenario for bettors, it's also much better than if the entire parlay were to lose because of one wrong pick.
Pushes don't completely kill a parlay, though they will reduce the overall payout odds.
NHL Parlay Variations
There are many different ways that you can placed an NHL parlay bet. The first we have discussed in detail above -- the multi-game parlay. With this parlay bet, you will combine different bets from different games into one big combined parlay bet.
The payout odds that you will get from these wagers are completely dependent on the original odds for the bets individually. For example, a three-team parlay where all the original odds were +110 will have a different payout than a three-team parlay where all the odds are -140.
Here are some other popular NHL parlays.
These parlays work the same way that multi-game parlays do, in that there are multiple bets combined into one single parlay. However, all the bets in this parlay will come from the same game.
An example of this could be a parlay that takes the following bets:
- Detroit Red Wings +1.5 vs. Columbus Blue Jackets (-150)
- Detroit Red Wings ML vs. Columbus Blue Jackets (+160)
- Detroit/Columbus over 5.5 (-126)
This three-leg same-game NHL parlay could have payout odds of +620 or so. On a $100 bet, you would net $620 if all three legs were successful.
Another popular way to bet on an NHL parlay is taking multiple large favorites on the moneyline. Big favorites often have odds of -200 or more. That makes it difficult to consistently make a profit betting on them individually, based on the steep price.
What a lot of bettors do instead is take three of these big favorites on the moneyline and parlay them together. So, for example, it could be:
- Washington Capitals -220 vs. Philadelphia Flyers
- Boston Bruins -210 vs. Detroit Red Wings
- Florida Panthers -230 vs. New Jersey Devils
Parlaying these three moneylines together might only result in odds of around even (+100), but it would allow you to risk less money to get what the sportsbooks are considering to be close to guaranteed wins.