Hockey betting in New Zealand: who is allowed to take your bet, and what the odds are actually paying for

Updated October 2026

Licensed

Available in US

Fast payouts

18+ Only

Current as of 30 October 2026 · verified against the Racing Industry Act 2020 (section 74AAA) and the Department of Internal Affairs public guidance.

Ice hockey has its own rhythm that bettors run into before they run into the bookmakers. A regular-season NHL game is three periods of twenty minutes with six players on each side, one of them a goaltender. Ties go to overtime; in the NHL the regular season finishes overtime with a penalty shootout, while since 2019 the IIHF World Championship and Olympic gold medal games have used three-on-three overtime. The 2026–27 NHL season starts on 29 September 2026 with 32 teams playing 84 games each, the regular schedule stepping up from 82, and the run ends on 10 April 2027. Tied games go to overtime — the same is true in the Stanley Cup, where the Carolina Hurricanes beat the Vegas Golden Knights in the 2026 Final. None of that is unique to New Zealand, but the way the bets are placed here is, because since 28 June 2025 there is only one lawful way in.

The legal frame: who can take a hockey bet from a New Zealander

The Racing Industry Act 2020, with section 74AAA added by the Racing Industry Amendment Act 2025 and in force from 28 June 2025, sets the rule plainly: no person other than TAB NZ may offer racing betting, sports betting, or other racing or sports betting to a person in New Zealand, regardless of where that person is incorporated or resident. There is no second bookmaker’s licence to apply for and no register to consult, because there is only one lawful provider. The Department of Internal Affairs told unlicensed providers serving New Zealand to withdraw with immediate effect when the section came in. The point is the offshore operator; the same section inserts a shield for the player — section 19(4) of the Gambling Act 2003, also added in 2025, says an individual may not be convicted simply for having placed a bet with an offshore operator in breach of section 74AAA. No published penalty for the player exists, and no source states one.

TAB NZ runs the business under a 25-year partnership with Entain signed in 2023. The deal gives Entain a 50/50 share of gross profits and guarantees at least $150 million a year to TAB NZ for the first five years, with Entain pledging a one-off $100 million payment to the racing sector on signing. Online, TAB NZ trades through two brands: TAB and Betcha. Entain New Zealand publishes Betcha on the local App Store, first released on 6 August 2024, with the same betting product framed for a younger, app-first audience; the racing codes, the sport coverage and the legal standing are the same.

Two things follow for an ice hockey punter. First, the price on every regulated NHL or IIHF market is a TAB NZ price, so it is one bookmaker’s view of each game, not a market-clearing line. Second, the limits, payment methods and safer-gambling tools are also operator terms; nothing about them is statutory.

What the monopoly covers

The prohibition covers racing and sports betting from any provider other than TAB NZ. Bets on ice hockey sit in that frame because ice hockey is a sport under the Act. What is not established by any source: whether esports betting is “sports betting” under the Act (the law is silent there), and whether betting on novelty or political markets is permitted at all under TAB NZ’s licence. The ban covers events held inside and outside New Zealand — being a visiting NHL team does not move the bet into a different legal category.

The greyhound racing close-out, beginning on 1 August 2026 and going in stages, removes greyhound markets from that side of the offering; that affects multis built across racing codes but does not change ice hockey’s status.

Where TAB NZ sits inside the broader gambling law

The Gambling Act 2003 sets the wider frame and is administered by the Department of Internal Affairs. The 2025 amendment did not change who supervises betting; it changed who can offer it. Separately, the Online Casino Gambling Act 2026 opened a licensing route for online casino gambling in New Zealand, and TAB NZ won the right to apply for a casino licence, but the casino licence does not extend TAB NZ’s sports-betting monopoly, nor does any casino licence let a new operator take sports bets. A casino permit and a betting permit are separate permissions under separate laws.

Tax, levies and what they tell the bettor

For a recreational bettor, IRD guidance is that gambling winnings are generally not taxable and prize money from TAB horse, dog and trotting races is not taxable. Someone whose betting amounts to a business is a different case and is advised to consult IRD or an accountant. The operator side carries two charges: TAB NZ pays the Problem Gambling Levy at 0.74% (in force from 1 July 2025 to 30 June 2028), and overseas operators supplying New Zealand residents pay the online gambling duty — 12% of profits since 1 July 2024, rising to 16% from 1 January 2027. Paying duty does not make an offer lawful; the duty sits on top of the prohibition, not as a substitute for the section 74AAA permission.

Advertising around the monopoly

The Advertising Standards Authority’s Gambling Advertising Code applies to betting advertising: ads must not target children (under 14) or young people (14 to under 18), judged by context, appeal and expected audience (an audience that is 25% or more young people counts as significant where accurate data exists); ads must not encourage harm and must be truthful with terms available. How DIA treats betting affiliates — sites that send traffic to a bookmaker — is not established, so any description of the monopoly stays at the level of the rule and does not invite readers to sign up with an offshore brand.

The offshore alternative: what changes when you step off the regulated side

New Zealand does not block bookmaker websites at the network level. The law puts liability on the offshore operator that takes the bet. There is no prosecution of an offshore bookmaker found in any source, and the penalty under section 74AAA itself is not stated in the section. The law targets the operator; the player side carries no published penalty. DIA warns that overseas operators may sit in jurisdictions with minimal consumer safeguards, may not return unspent credits and may not pay out large wins, and that no New Zealand complaints route or harm-minimisation framework reaches them.

For the bettor, the practical differences are four. The bookmaker’s terms sit overseas, so a withdrawal limit, a bonus condition or a stake cap is enforced by the operator’s own jurisdiction, not by DIA. The safer-gambling tools — deposit limits, time-outs, self-exclusion — are present at TAB NZ and apply across the TAB and Betcha apps, but TAB NZ’s exclusion does not propagate to offshore brands and offshore brands do not feed into the New Zealand self-exclusion register. A disputed outcome is harder to escalate; there is no New Zealand regulator to complain to. A big win sits at the mercy of the operator paying out.

None of that makes offshore betting illegal for the player; the section 19(4) shield rules out a criminal conviction there. It does mean the bettor steps outside the local consumer framework when they do it. The honest frame: TAB NZ and Betcha are the only lawful option in New Zealand, with regulator oversight, harm-minimisation tools and a complaints framework; offshore books are unlawful for the operator to serve New Zealand, with no New Zealand complaints route and the risks DIA spells out.

Safer gambling: who is protected, and by what

New Zealand splits its age rule across gambling types. The Racing Industry Act 2020 sets the age for sports and racing betting at 18 — betting under 18 is an offence under section 89 of the Act. Land-based casinos are 20 — never conflate the two; a young adult can place a TAB NZ bet from the age of 18 and step into a casino only two years later. The TAB NZ app carries a 17+ App Store age rating while stating that customers must be 18 or over to bet, and account opening requires a verified New Zealand address and ID.

Three safer-gambling tools sit in the TAB NZ apps: deposit limits, time-outs and self-exclusion. A self-exclusion applies across the TAB NZ brands, so an exclusion set in TAB also runs through Betcha. Help sits with the free Gambling Helpline on 0800 654 655 (text 8006) and with Safer Gambling Aotearoa. TAB NZ must keep the risks of problem and underage gambling minimised and pays the Problem Gambling Levy of 0.74% for it. There is no single national online-betting exclusion register; the register that the online casino law will set up is for online casinos only.

What is not in the frame, as research has not established it: any statutory rule on bet size, deposit size or stake limit. Limits sit in TAB NZ’s own terms, not in the Act. Any statutory restriction on in-play markets was not found either — TAB NZ’s apps list live betting across racing and sports, and that is the practical position.

Bonuses and free bets: what the offer is actually worth

A “bonus bet” at TAB NZ is a marketing label on a credit you place and lose. The stake on a bonus bet is rarely paid back with a win, so a $10 bonus bet that wins at $3.00 returns $30 in cash (the $20 profit), not $40. Where the offer is a deposit match, the credit carries a turnover requirement — the bonus balance must be turned over a stated number of times at a minimum price before any winnings become withdrawable cash. Research was unable to pin a wagering multiple for every current TAB NZ promotion, and that matters: an offer without a price floor or a time limit is rare in this market. Before claiming, check the minimum odds, the qualifying markets, the expiry window and whether the credit splits across multiple bets or has to be staked in one go.

The mathematics behind an offer is straightforward once the terms are read. For a bonus bet whose stake is not returned, the average value is the offer amount × (odds − 1) ÷ odds × payout share of the market you place it on. A $10 bonus bet at $3.00 odds on a market with a 95% payout share is worth roughly $10 × 2.00 ÷ 3.00 × 0.95 ≈ $6.33 on average across many uses. That is the offer’s worth; it is not a win. The same $10 staked as cash, in contrast, returns $30 on a win and costs nothing on a loss — and the bettor keeps the stake in play.

“Boosted odds” promotions shift the line up rather than crediting the account, and the same turnover caveat can apply. “Risk-free” bets are usually refunded as a credit, not cash, when the bet loses — so the real “risk-free” amount is the credit, not the original stake, and the credit carries its own turnover. None of these offers change the bookmaker’s margin; the margin sits inside the boosted line just as it sits inside the regular line, and the discount is on the price, not on the vig.

Offshore offers and the reader’s footing

Offers from offshore brands lose the safer-gambling framework the moment they are taken — a self-exclusion set at TAB NZ does not follow the bettor to an offshore account, dispute resolution is outside New Zealand, and the credit may carry turnover terms sitting in an unfamiliar jurisdiction. The same arithmetic on the offer’s average worth runs the same way, but the consumer backstop is different.

The mobile experience: TAB NZ’s app and what it carries

The TAB NZ app, published under the seller name New Zealand Racing Board on the New Zealand App Store and first released on 8 September 2014, is the front door for most legal hockey bets placed in New Zealand. It carries racing codes (thoroughbred, harness and greyhound — with greyhound closing in stages from 1 August 2026), rugby union and league, and a wider sports menu that includes ice hockey. The app carries a 17+ age rating while stating that customers must be 18 to bet; account opening requires a verified New Zealand address and ID.

Three things shape the experience. Trackside live race streaming runs in-app with in-app betting behind it, and the same model — live stream, betting market, slip — is the practical template for live sport elsewhere in the offering. The racing-form tools (Blackbook, Jockey Challenge and form fields) sit alongside the sportsbook; the wallet is simplified so a deposit and a withdrawal flow through the same surface.

Betcha, the second TAB NZ brand, lives on the same App Store under the seller Entain New Zealand Limited, and was first released on 6 August 2024. The product is mobile-first and tuned to a younger audience, with a sports menu that lists rugby, NRL, MMA/UFC, NBA, NFL, tennis, cricket, football, motorsports and esports alongside the racing codes. The two apps share the safer-gambling framework: a deposit limit, time-out or self-exclusion set in one runs through the other.

Offshore brands without a New Zealand licence are present on the App Store and on Android stores. Their apps are not blocked at the network level, but their licences sit outside New Zealand and the local harm-minimisation tools do not apply. The same betting mechanics run inside them; what is missing is the New Zealand backstop.

Predictions, strategy and the limits of being right

There is no model in the public domain that picks NHL winners at a profit over a season, and nobody publishing ice hockey picks at a price is letting on what they actually stake. Models exist — goals-against averages, shot metrics, power-play conversions, back-to-back fatigue — and they sharpen the read on a game, but the bookmaker’s margin is paid on every bet, so an edge has to be larger than the vig to clear a season. The same arithmetic holds in TAB NZ’s book as anywhere else.

The practical edges a bettor can find in this market are not the headline picks. Three of them pay better than the headline does. First, the niche market — a player prop, a total, a period line — carries a wider margin than the headline 1X2 or three-way, and a bettor who reads the underlying numbers can find a price that diverges from the line. Second, the live market prices goals and runs faster than the broader market, because the in-play model has to fit inside the event itself. Third, the calendar matters — a back-to-back, a goalie rested, a team coming off a long road trip — and the closer the line is to the schedule, the more those moves have not yet been priced in.

The thing predictions pages do not say is also worth naming. A tip sheet that publishes a winner for yesterday’s game pays nothing tomorrow; a tipster subscription is a recurring cost that comes off the same bankroll that the picks are supposed to grow. Bankroll management is the slower edge: betting a fixed unit, logging every bet, and not chasing losses is the boring rule that compounds while the tips come and go. The reading is not the hardest part of finding an edge; keeping the staking discipline once the bank has gone up and down is.

The phrasing of any offered “system that wins” is the smell to watch for. Anyone selling a system that guarantees a winning ice hockey bet is asking for a price no winning system needs; the price is the answer to what the system is worth. That is the editor’s rule, and it is the one this page applies without softening.

Bet types, odds and the margin that sits inside every price

Ice hockey carries the standard menu, with a few sport-specific lines. The three-way moneyline — home win, draw (after overtime, that becomes a separate period), or away win — is the headline market. The two-way moneyline, which resolves home or away with the draw refunded as a push, is the simpler form and the closer match to how a recreational punter thinks about the bet. Totals (over/under a stated goal line), puck line (a goal or 1.5-goal handicap), period betting (per-period lines and per-period totals), player props (points, shots, saves) and a Same Game Multi whose legs come from one event round out the menu.

The margin sits inside every price. Take a clean two-way market priced at $1.90 / $1.90, the kind a beginner sees and calls “even”. Adding the implied probabilities: 1 / 1.90 + 1 / 1.90 = 0.5263 + 0.5263 = 1.0526. The payout share is 1 / 1.0526 ≈ 95.0%, and the margin is 1 − 0.95 = 5.0%. Five percent of every unit staked on that market goes to the bookmaker as vig, before any result. That is the band: a typical two-way NHL market at TAB NZ sits in the 4% to 6% margin range, and the niche markets sit wider. A three-way market (home / draw / away) carries more margin again, because the third outcome adds the vig it carries.

The arithmetic is straightforward on the page because the inputs are few. Stake $10 at $1.90 and a winning return is $19 — the $10 stake plus $9 profit. Stake $10 across a Same Game Multi at combined odds $4.50 and the winning return is $45. A winning parlay returns the stake multiplied through, and a losing one returns nothing on the legs that did not land.

What the margin tells you about a market

Wider margin markets pay less, on average, than tighter ones — because the vig is taken off every bet, not just the winning ones, the price of being right has to clear that vig before the bank moves up. A two-way market with a 4% margin leaves more of the bet on the table than a 6% margin market, and at the same stake the lower-margin market is the better line for the bettor. The menu at one bookmaker shows this in a glance: a 1X2 NHL line carries a noticeably smaller margin than a player prop or a period total, and that is the vig doing its work.

The band — 4–6% on a headline NHL game — is the condition research gives the arithmetic, not a number to check off against every market. Some markets sit wider, and the wider the market, the more the stake has to clear to make the bet worth the read of it. The band stays the answer, not the individual figure.

The sport and the calendar

The IIHF is the highest governing body of ice hockey and runs the world championships that play every spring. The NHL is the largest professional league by attendance and by betting volume and runs a longer season — the 2026–27 season opens on 29 September 2026 with 32 teams, 84 games each, and closes on 10 April 2027 before the playoffs. The Stanley Cup Final, decided at the time of writing with the Carolina Hurricanes beating the Vegas Golden Knights, is the headline trophy for the betting market.

Ice hockey has carried Olympic status for the better part of a century. Men’s ice hockey has been part of the Winter Olympics since 1924; women’s ice hockey was added to the Olympic programme in 1998. The Olympic men’s tournament has used NHL players since 1998, with a break for the 2018 Games, and the league takes a scheduled pause mid-season to release players for it.

Three different ice hockey products reach a TAB NZ account. The NHL is the year-round centre of gravity, with daily fixtures throughout the regular season and a five-month off-season in summer. The IIHF World Championship plays in May and the early summer, with the next edition at the time of writing not yet dated. The Olympics come every four years on the Winter cycle, and the men’s tournament at Milano Cortina 2026 is the event that runs through the early 2026 slate for any ice hockey bettor.

The same calendar shapes the live market. NHL games in North America sit in early New Zealand hours — typically mid-afternoon New Zealand time in the course of the working week, evening on weekends — and that is also where the live markets are active. In-play limits sit in TAB NZ’s terms and may differ from pre-match limits.

The bookmakers: TAB and Betcha first, then the offshore field

The brands below are split into two groups, and the split is the page’s first ranking. TAB NZ brands are the two lawful options to take a hockey bet from a person in New Zealand. The offshore brands are present in the market — most readers have seen at least some of them — but none is licensed to take a New Zealand bet. The same criteria apply inside each group; the groups are not merged.

TAB

TAB NZ is the only operator lawfully offering racing and sports betting to people in New Zealand. TAB has been the trading name on the same product for decades, first as the New Zealand Racing Board and now under the Entain-operated digital platform.

The hockey product at TAB is the headline NHL and international menu — moneylines, totals, puck line, period betting, player props — sitting alongside racing and other sports. The safer-gambling tools in the TAB app — deposit limits, time-outs, self-exclusion — apply, and the exclusion runs across TAB and Betcha. TAB carries a 17+ App Store age rating while stating that customers must be 18 to bet, and account opening requires a verified New Zealand address and ID.

The verdict on TAB is that it is the lawful option, full stop — it is the only place a hockey bet placed in New Zealand sits inside the local consumer framework and the regulator’s oversight. For a bettor who places the bet through TAB, that is the whole frame.

Betcha

Betcha is the second of the two TAB NZ brands, run by Entain New Zealand Limited and first released on the New Zealand App Store on 6 August 2024. The product is mobile-first, framed for a younger audience, and covers the racing codes alongside rugby, NRL, MMA/UFC, NBA, NFL, tennis, cricket, football, motorsports and esports.

The safer-gambling framework and account-verification requirements are the same as TAB, and an exclusion set in Betcha applies across the TAB group. The mobile surface is the more polished of the two, reflecting when it launched.

The verdict on Betcha is that it is the same operator as TAB in a different wrapper — and that is also the rule for the comparison: the two are not rival bookmakers, and the choice between them is a choice of interface rather than a choice of price or product.

BillyBets

BillyBets runs a casino and a sportsbook on one account. The sportsbook covers football, tennis, table tennis, basketball, ice hockey, American football, baseball, combat sports, esports, virtual sports and live betting. The brand names no licence that applies in New Zealand, no New Zealand complaints route or harm-minimisation framework reaches it, and BillyBets lacks a licence to serve New Zealand players.

Where the page’s subject suits BillyBets and where it does not — ice hockey is in the menu, so the betting product is there, but the price sits outside the New Zealand consumer framework. For a bettor who already has a TAB NZ account and wants to keep that frame, BillyBets does not add to it.

FunBet

FunBet’s sportsbook offers odds on football, ice hockey, American football, basketball, volleyball, tennis, rugby and baseball, with live betting and a 24/7 bookmaker framing. FunBet names no New Zealand licence, no New Zealand complaints route exists, and no New Zealand harm-minimisation framework reaches the brand.

The verdict on FunBet is that the ice hockey market is present and the price will look the same on a glance — until the reader notices the licence absence. For a bettor comparing prices, FunBet is a comparison point, not a substitute.

Glorion

Glorion offers pre-match and live betting, virtual sports, horse racing and esports, with markets grouped into popular, niche, indoor and outdoor sports plus entertainment events such as award shows and elections. Glorion names no New Zealand licence and is not licensed to take a bet from a person in New Zealand.

For a bettor shopping around for an odds line, Glorion is in the same offshore bucket — the same consumer absence, the same lack of a regulator to complain to. Whether the entertainment markets suit a hockey bettor is the question; the licence status is not.

RoyalistPlay

RoyalistPlay’s sportsbook offers live betting, sports promotions, results and a schedule, with football, basketball, tennis, handball, ice hockey, volleyball and table tennis among the top sports, plus separate esports and Predictions sections. RoyalistPlay names a Tobique Gaming Commission e-gaming licence (No. 0000002) under holder Novatrix SRL, which gives no right to take bets from people in New Zealand.

A Tobique e-gaming licence is a different permission from a New Zealand betting licence, and it does not extend to taking sports bets from New Zealand residents. For a bettor who reads the licence small print on the operator’s own page, that is the line.

Winz

Winz runs a sports betting bonus promotion with a separate Sportsbook T&C, Sports Rules and Bonus Terms pages. The brand names Anjouan and Tobique licences under holder Novatrix SRL — both of which give no right to take bets from people in New Zealand.

The licence framing and the consumer absence are the same as RoyalistPlay: the T&Cs are enforced in the operator’s jurisdiction, not in New Zealand.

Thunderpick

Thunderpick is esports-first, covering CS2, League of Legends, Dota 2 and Valorant, and its sportsbook offers a cash-out feature and markets from the Champions League to the NFL. The brand names a Curaçao licence (OGL/2024/677/0722) under holder Paloma Media B.V., which gives no right to take bets from people in New Zealand.

For a hockey punter, Thunderpick’s sportsbook is the more relevant half of the offering — the esports product sits beside it — and the same offshore caveats apply.

Millioner

Millioner’s sportsbook offers pre-match and live events on football, tennis, table tennis, basketball, ice hockey, American football and baseball, with separate Live Betting and Virtual Sports sections. Millioner names no New Zealand licence, and is not licensed to take a bet from a person in New Zealand.

The verdict on Millioner is the same as the other offshore brands in this ranking: a betting product present, the consumer backstop absent.

Alawin

Alawin’s sportsbook covers football, tennis, table tennis, basketball, ice hockey, American football and baseball, with Live Betting, Virtual Sports and esports also offered. Alawin names no New Zealand licence and is not licensed to take a bet from a person in New Zealand.

The same offshore caveats apply as for the rest of the bucket.

Overview: what the comparison sits on

Across the two groups, the difference is not the betting product — every brand on this page offers an ice hockey market — but the frame around the bet. TAB and Betcha carry a New Zealand consumer framework: regulator oversight, harm-minimisation tools, a self-exclusion register that works across brands, and an age and identity-verification flow. The offshore brands carry none of that; the licence they hold is in another jurisdiction and gives them no right to take bets from people in New Zealand, regardless of whether the operator enforces a New Zealand ID check at the door.

On the product itself, the narrower margin tends to sit at the headline NHL markets — typically 4% to 6% on a clean two-way moneyline — with the wider margin sitting at niche markets and Same Game Multis. The bookmaker’s view of the game is one number on a given day; the bettor’s read is another; the difference between them is the line’s vig and the bettor’s edge. None of that changes between the two groups except where the operator’s terms carry a different stake limit, a different payout cap, or a different in-play rule, and any of those details sits in the terms page rather than in the comparison headline.

The angle of this page runs through what follows from a bet in this market — what the monopoly means for who is allowed to take the bet, what safer-gambling protection actually reaches the reader, what an offer’s average value is once the wagering is read, what the margin sits at inside the price, and what an operator’s terms really mean when a withdrawal or a dispute comes up. The block above you lays the legal frame; the comparison block lays the operators; the conclusion is what those mean for a bettor’s actual decision.

Frequently asked questions

How do you bet on hockey games?

Three steps for a TAB NZ account: open or sign in to the TAB or Betcha app; pick the event from the ice hockey menu — NHL, IIHF or Olympic — and choose a market (the two-way or three-way moneyline, a total or a player prop); enter the stake on the bet slip and confirm. The stake × the decimal odds gives the return on a win, the bet settles when the event does, and multi-leg slips settle leg by leg.

How do you bet on hockey on Nitrogen Sports?

Nitrogen Sports is an offshore crypto sportsbook. New Zealand readers are advised that offshore bookmakers are not licensed to take bets from people in New Zealand under section 74AAA of the Racing Industry Act 2020; the player side carries no published penalty, but New Zealand harm-minimisation tools, the self-exclusion register and the local complaints framework do not apply. Any decision to use one sits outside this page.

How do you bet on hockey using Sports Insights?

Sports Insights is a tool site that surfaces line-movement data and public betting percentages, used by bettors comparing lines across books. It is not a bookmaker; it does not take a bet. The same offshore caveat applies to any bookmaker a reader then uses: section 74AAA rules apply, and the local consumer framework ends at the TAB NZ brands.

Which bookmaker may lawfully take sports and racing bets in New Zealand?

TAB NZ trades through two online brands: TAB and Betcha. They are the only providers lawfully offering racing or sports betting to people in New Zealand under section 74AAA of the Racing Industry Act 2020, in force from 28 June 2025; there is no licence to apply for and no licence register for bookmakers because there is only this one lawful provider. The two brands are not rival bookmakers — they are the same operator in two interfaces.

How is the return on a bet worked out from the stake and the odds?

Return = stake × decimal odds. Net profit on a win = stake × (decimal odds − 1). For a Same Game Multi or a parlay, the odds of the legs multiply into one combined price before the stake is applied. A $10 stake at $3.00 returns $30; a $10 stake at combined odds $4.50 returns $45. The return is on a win; a losing bet returns nothing.

What is the bookmaker’s margin and how does it show in the odds?

The margin is the share of every unit staked that the bookmaker keeps on a market, on average. For a two-way market priced at $1.90 / $1.90, the implied probabilities add to 1 / 1.90 + 1 / 1.90 = 1.0526, so the payout share is about 95% and the margin is about 5%. Wider margins sit at the niche markets (player props, period totals, Same Game Multis); a 4–6% margin is typical on a clean NHL moneyline. The vig is taken off every bet, so the reader has to clear it before the bank moves up.

Prepared by the Nodepositbetsnz editorial staff.