Beginner’s Guide to Betting on the Stanley Cup Playoffs

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It’s that time of year again where 16 teams are looking to win 16 games each to clinch the Lord Stanley Cup.

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If you’re a fan of the NHL, but new to sports betting, here are some tips to know before betting on the Stanley Cup Playoffs.

BANKING MANAGEMENT

As the saying goes, “only bet what you can afford to lose”. It’s one of the oldest adages in gaming. While this applies to every sport you can bet on, it should certainly be the case for a sport with as much variation as hockey. After all, it’s a game played on ice where you hit a rubber puck with carbon fiber sticks.

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A common bankroll management strategy is flat betting. It is about betting the same amount for each play. For beginners, it is recommended to bet between 1% and 5% of your budget per bet. For example, if your bankroll is $100, you would not bet more than $5 in a single play. Developing a strategic plan for how much to bet on an outcome can be a good way to ensure you stay in the game for the long haul and reduce the risk of ruin.

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KEEP IT SIMPLE

Whether it’s how many shots a player will take or how many goals a team will win, there are an almost endless number of events you can bet on in a single game of hockey. It can be overwhelming for new sports bettors, so sometimes it’s best to just pick the team you think will win the game, betting on the money line.

LIMIT YOUR PARLAYS

While it is exciting to potentially bet 3, 6 or 10 times your stake when betting on multiple events, parlays are a risky gamble. If you’re new to sports betting, it’s smart to bet on single outcomes instead of combining them. Instead of going two for three on a 3-leg parlay and losing your bet, you can bet on the same events individually, hit two out of three and make a profit. If you plan to roll the dice with parlays, you should try to allocate only a small percentage of your bankroll to them.

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DO YOUR RESEARCH

Understand that these sportsbooks always have an edge. After all, it’s your job to make sure the odds are always sharp and accurate. One way to combat that is by doing your homework and not betting blind. Whether it’s reading about player injuries, statistics, or expert opinions, finding resources that can help you learn about a game can go a long way.

KEEP IT UP

Watching sports is supposed to be enjoyable and sports betting can help enhance the experience. Remember, even the best sports bettors in the world only win 53-55% in the long run. That’s a lot to lose. You are unlikely to quit your 9 to 5 job to make millions betting on hockey. Understand that there will be some high points, but also many low points. Keeping your head level is a must. If you’re going through a cold or even hot spell, sometimes it’s good to take a day off and reset. Gambling with a clear heart and mind is always the right choice.

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