NHL parlays allow hockey fans to roll a number of selections together into one bet in order to gain higher cumulative odds. It is a great tool for anyone that wants to turn a pretty small stake into a large potential payout. There are examples of sports fans laying down $5 and walking off with a six-figure return after correctly predicting the outcome of a large number of games.
An NHL parlay is also helpful for anyone that has picked a few favorites to secure victory and wants to gain greater value from their wager. We have compiled this handy NHL parlay guide as part of our how to bet on NHL focus, so you can join in the excitement.
An NHL parlay presents bettors with the opportunity to combine multiple selections into a single bet in order to rack up a much greater potential profit. You might think the Washington Capitals can beat the New York Rangers, the Pittsburgh Penguins can beat the Dallas Stars, the New Jersey Devils can beat the Vancouver Canucks and the Boston Bruins can beat the Toronto Maple Leafs.
If you have a $20 bankroll to play with, you could divide it into four and bet $5 on each of those predictions. Yet you have another intriguing option: roll all four into a $20 parlay and you will secure a much higher payout if you are correct.
You can add all manner of different selections into a single parlay. You could go for the Caps to beat the Rangers, the Penguins to cover the puckline against the Stars, over on total goals in the Devils versus Canucks game and the Bruins to beat the Maple Leafs 4-3 as a correct score option, all rolled into one bet.
NHL parlays offer bettors the exciting opportunity to rack up large odds by adding multiple selections into one big wager. However, there is a catch: if just one result goes against you, your bet will crash and burn. There is a higher reward if successful, but a greater risk of failure.
If you bet $5 on the Washington Capitals at -200, $5 on the Pittsburgh Penguins at +100, $5 on the New Jersey Devils at -133 and $5 on the Boston Bruins at +110, you would make a profit of $16.67 if all four of your predictions prove to be correct. However, if you combined them all into a successful $20 parlay, you would walk off with a far greater profit of $200.60.
The more legs you add to a parlay, the greater the potential payout you stand to make. However, it only takes one team letting you down for your bet to lose, so it can be tricky to compile a winning parlay.
Good sportsbooks will tell you the potential return you stand to make on your betslip when you compile a parlay. However, you can work it out for yourself if you so desire.
The first thing you should do is convert the odds on each of your selections into decimal format. Most sportsbooks provide this option, while there are many tools online that do it for you, or you can do it yourself. Just remember that +100 is 2.00, +133 is 2.33, +150 is 2.50, +200 is 3.00, +267 is 3.67 and so on, while -125 is 1.80, -150 is 1.67, -200 is 1.50, -300 is 1.33 and so on.
Sticking with the example used above, let’s say you want to go for these selections:
You would then multiply 1.5 x 2 x 1.75 x 2.1, which equals 11.03. That tells you that for every $1 you bet, you will gain a return of $11.03. Therefore a $20 parlay would return you $220.60, including a $200.60 profit and the return of your $20 stake.
Parlays can be great fun for NHL fans and they offer the opportunity to earn life-changing payouts despite laying down relatively small sums of money. . Here are some tips to help you succeed when putting together a hockey parlay: