NHL Season to Kickstart Sports Betting Frenzy

The National Hockey League (NHL) is set to resume on January 19, after the league and the players' association signed the framework of a new collective bargaining agreement on Sunday morning.

Shortened Season

League officials have told teams to be ready to play by January 19, the date that games are finally set to get underway - much to the relief of millions of fans. Hockey's top league appears headed toward a shortened 48-game season for just the second time in its history, although there is still some talk of a 50-game season.

The lockout, the third among major US sports in just over a year, is expected to wipe out around $1 billion in revenue, and will also have a major impact on yearly sports betting turnover. NHL revenue stood at $3.3 billion last year, behind the NFL ($9 billion), Major League Baseball ($7.5 billion) and NBA ($5 billion).

Consequences for Betting

The major American sporting leagues often undervalue the importance of sports betting on their brands. Betting is responsible for increased game viewership, so it is no surprise then that when the National Hockey League (or NFL, or NBA) stop playing, so do the betting. And where do they turn - college hockey (or football, or basketball).

In Nevada alone, $3.2 billion was wagered in sports bets in the state's casinos in 2011, and that is not to mention the hundreds of billions bet on offshore based online sportsbooks. The NHL has returned just in time to save it from being completely forgotten by bettors, and the bookmakers are thankful for that too.

Where to bet on NHL

William Hill and bet365 are both celebrating the NHL's return by offering title odds: Pittsburgh Penguins have emerged as the favourite (6/1 at bet365, 7/1 at William Hill), followed by the New York Rangers, LA Kings, Vancouver Canucks, Chicago Blackhawks and Philadelphia Flyers.

Once the schedule is released, these two top online sportsbooks will release all the usual NHL betting options, including: Outright, Spread Betting, Double Chance, 60 Minutes Betting, Total Match Goals, Draw No Bet, and all the usual conference and division title scenarios.