How To Bet On The 2022-23 NHL Season From Canada

By Hockey

The 2022-23 NHL season gets underway this week!  It’s an exciting time of year here in Canada with the NHL returning for a second straight full season with normal divisions, after the previous two seasons were shortened and the divisions alterered because of the covid-19 pandemic.

There are several Canadian teams that look like contenders this year. The Maple Leafs are still trying to get over the hump with their star studded roster. They enter the season as the second favourites to win the Stanley Cup according to the odds at behind only the defending champion, Colorado Avalanche. The Edmonton Oilers, with the best player on the planet (Connor McDavid), and the revamped Calgary Flames are the other Canadian teams being given a legitimate shot at the Championship. The Canucks, Senators, and Jets all have an outside shot at making a run, while the Canadiens are considered to be in rebuild mode.

The start of the season always brings a lot of new interest in betting on the NHL from Canadians who may not have placed an online wager in the past.  If this applies to you then this page is for you.  This page should act as a beginners guide to betting on the NHL for this 2022-23 season.  I will look at the Stanley Cup odds to start and follow that up by looking at some popular NHL wagers you can make on each game throughout the season and finish up with a 3 step guide to start placing NHL bets online.

2022-23 Stanley Cup Betting Odds

Here’s a screenshot from of the Stanley Cup odds for the 21 favourites leading into the season:

The Colorado Avalanche are favourites to repeat as Stanley Cup Champions with odds of 4-1. The Avalanche defeated the Tampa Bay Lightning in 6 games in last years Stanley Cup Finals and only dropped four games throughout the entire playoffs en route to winning the Stanley Cup. The Avs have kept their core together, so it should come as no surprise that they are significant favourites to repeat heading into this season.

The Toronto Maple Leafs, Florida Panthers, Tampa Bay Lightning, and Carolina Hurricanes are the next group of contenders for the 2023 Stanley Cup according to the oddsmakers. All four teams in this group of contenders play in the Eastern Conference, which shows how competitive the East is expected to bet this season.

The Calgary Flames are the second favorites in the West to win the Stanley Cup at odds of 15-1, which is somewhat of a surprise after losing both Johnny Gaudreau and Matthew Tkachuk in the offseason (although they did replace them with Huberdeau and Kadri). The Oilers are also right there with odds of close to 15-1, while the Canucks, Senators and Jets are given an outside shot at making a run with odds of between 43-1 and 52-1 for these Canadian teams. The Canadiens are the lone Canadian team not seen on the odds screenshot above. They have odds of 127-1 to win the Cup at, which has them as the third longest longshot in the league in front of only the Blackhawks and Coyotes.

Typical NHL Betting Options

There’s really two betting options that get the vast majority of NHL bets each night: the money line (straight up winner) and over/under bets.  You will also see the puck line odds included with the other two in a typical display of betting odds for an NHL game, but it’s the first two that get the most action, so those are the ones I will break down below.

Money Line

The money line wager is simply betting on which team will win the NHL game.  In the NHL there is always a winner thanks to 3-on-3 overtime followed by a shootout, so there are only two possible outcomes in each game: Team A or Team B winning.  Let’s look at an example from Sports Interaction:

In this example we’re looking at a game between Montreal and Toronto.  The Canadiens are the underdogs and a bet on them would payout at a multiple of 2.47 of the wager.  So a $100 bet on the Habs would pay out $247 if they pulled out the win.  That win can come in regulation, OT or the shootout.  Just as long as they win the game, their moneyline wager is a winner.


The over/under is a bet on the total number of goals scored in the game by either team.  The over/under is typically set at 5.5 in an NHL game, but you can see the total set anywhere from 4.5 to 6.5 depending on which teams are playing.  Let’s continue with the Montreal vs Toronto example:

The Montreal vs Toronto game has the total set at 5.5 goals.  For the over to hit 6 or more goals must be scored in the game, while for the under to hit 5 or fewer goals must be scored.

**In the cases where the total is set at a whole number such as 5 or 6, then the bet would be a “push” and the wager would be returned if that exact number of goals were scored in the game.

***It’s also important to note that a goal given for a shootout win does count towards the total.

I’ve also broken down the puck line and regulation time betting options on our hockey betting page, so check that out to learn more.

Bet On The NHL From Canada – 3 Step Guide

Now that you know the bets you can make on an NHL game it’s time to actually place some of those bets.  This three step guide will walk you through how to place your first NHL bet, from opening your sportsbook account to clicking the “Place Bet” button your first NHL wager.

#1. Open An Online Sportsbook Account

You will need to open an online betting account in order to bet on the NHL.  Our #1 recommended betting site is  I’ve used their sportsbook in all of the examples above.

Sports Interaction is solely focused on the Canadian sports betting marketplace and this results in a sports betting product and service that is completely catered towards Canadians.

Click here to open your account at

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Sports Interaction is our top rated site, but I do suggest opening accounts with at least two of our recommended sportsbooks to allow you to compare odds and get the best return on your wagers.  Click here to check out the reviews of all three of our top rated sites.

#2. Deposit

Next it’s time to deposit. Sports Interaction accepts Visa, MasterCard, Interac, iDebit, MuchBetter, paysafecard, and many more deposit options. Simply put you should have no trouble getting your money into or out of Sports Interaction thanks to their vast selection of banking options and great customer support.

#3. Place Your NHL Bets

To find the betting lines for your first NHL bet at, click on ‘Sports’ in the top navigation bar and then select ‘Hockey’ from the left sidebar.  You will see ‘NHL Games’ at the top of the list under ‘Hockey’ and this will bring up all of the NHL games you can bet on for that night.

On the NHL page you will see all of the games for the night with betting options that look like the screenshots I included above outlining the various bets.  When you select your wager it will show up in your ‘Bet Card’ on the right side of the sportsbook.  You should then enter your bet amount and your “Bet Payout” will automatically be displayed.

In this screenshot I’m placing a $100 bet on the Canadiens to win in Toronto.

If everything looks good, go ahead and select ‘Place Bet’ below the payout.

Check out our hockey betting section for more information about wager on hockey online.  And if you have any questions regarding betting on NHL games do not hesitate to contact me.

Ready to bet?  Click here to visit

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