Thursday, December 1, 2022

2022/23 First Quarter NHL Betting Report

Welcome to my First Quarterly Hockey Betting Report of the 2021/22 season. Unlike my weekly reports, the quarterly report will delve deeper into my team-by-team results and breakdown categories for the entire quarter. It should be noted that I’m not betting with real money. These are all fictional wagers in a spreadsheet. If you’re betting with real money, you should not be betting on every game, only the games you like the most. Whereas I’m betting on every game, every over/under, because it provides a complete dataset for macroeconomic analysis. Most of my lines were recorded from Draft Kings near noon Pacific time the day before games, and unlike last season, I’m recording alt pucklines for underdogs -1.5 goals and favorites +1.5.
 
If you would like to read a comprehensive analysis of the last three years of hockey betting, my new book “The Hockey Economist’s Betting Prospectus” is available in the Amazon store. Just imagine this quarterly report but nearly 400 pages. You’ll get a profitability breakdown of the major categories since October 2019, and a chapter detailing the results for each team. Half of it discusses my own results, while the other half discusses what I should have been betting. To read more, visit the Amazon store.
 
My 1st Quarter Profit: $5,786
 
American Thanksgiving receives considerable publicity as a key juncture of the NHL season because most of the teams sitting in a playoff spot on that day will go on to qualify for the post-season. But technically it’s not Thanksgiving that’s the key date, just that the holiday tends to fall very close to the end of the schedule’s first quarter (henceforth referred to as Q1). Many pundits will call this “the quarter pole” to borrow horse racing terminology, except that a real “quarter pole” marks the beginning of the last quarter of the race. So using it this time of year just makes you look stupid.
 
My first quarter last season was my best quarter since this all began back in October 2019, but the bulk of my outstanding success came winning the lottery on Arizona being terrible. The books took some time to adapt as the Yotes lost their first dozen games, with me on the winning end of all of them. My hope was that everyone’s desire to draft Connor Bedard would create a perfect storm of tanking that would once again provide me with a lucrative “big short” opportunity. It’s not just one fantastic prospect, it’s a loaded first round, one of the best in years.
 
Widespread desire to maximize ping pong balls in the draft lottery did appear to influence some GM decisions in the summer time, which only fed my expectation, but no player wants to lose. You can’t make Jonathan Toews and Patrick Kane tank. You can only build crap around them and hope they’ll waive their no-trade clauses. My big short of the Arizona Coyotes last October was extraordinarily profitable and allowed me to play with house money for the rest of the season. Following that same blueprint for Tank-A-Palooza 2022/23 burned me in the first 2 weeks.

 
As this new season began, there were only two strategies at the top of my mind, exploiting Tank-Fest 2023 and home teams, having observed their success in past season early in the schedule (more so in 2019 and 2021). The second strategy proved beneficial as home teams got out to fast start, dominating the categories for most of the first week (thanks mostly to favorites), while the expected Tankathon did not materialize as expected. I did have some early success with road favorites, as home dogs did not start strong.



Home teams did indeed get out to a fast start, winning 60.5% in week 1, 56.6% in week 2, then by week 3 it dropped to a more normalized 52%. Home teams were also favored in 74% of games in the first 14 days, so oddsmakers were clearly looking at the same data as me, anticipating some home dominance early in the season. In week 3 home teams were only favored in 50% of matches, which basically means a few good teams were on the road concurrently, as it bounced back to 69% in week 4.
 
Some of those good teams who returned home in week 4 hit concurrent slumps, as Calgary, Washington, St. Louis, Pittsburgh, Edmonton, and the Rangers went a combined 2 for 15 on home ice. That’s why road teams won 57% of the week 4 games (their first of the season winning more than half). Given how often home teams tend to be favored, there’s a strong correlation between my underdog success and road profitability. Road moneyline (driven by dogs) finished the quarter as my best category, despite an early emphasis on home squads.
 
There must have been a full moon for the 10 days before and after Halloween, as the dogs were howling. We had an extended period of stunning upsets when underdogs transformed into mighty beasts. Initially the trend was being driven by longshots of +200 or higher, the big dogs. The smaller dogs weren’t getting it done early, but did join the party in week 3 (when all underdogs won a combined 51% of moneylines and 31% on the alt puckline -1.5 goals.

 
I’m proud to report being among the first to board the Buffalo bandwagon, but otherwise the first week of the underdog boom hit me hard with large wagers on some of those heavy favorites, especially -1.5 goals. Favorites -1.5 goals was supposed to be my primary vehicle to profiteer from Tank-A-palooza, but led to a large loss in week 2. It was towards the end of week 2 that I started to really pump the brakes on favorites -1.5 goals and started experimenting with small wagers on underdogs -1.5 goals.
 

The art of differentiating an emerging trend from a random convergence of variance can be a difficult endeavor as both things can often camouflage as the other. I was ready to declare underdogs officially trending after 3 weeks of solid gains, but also openly questioned the sustainability. Oddsmakers made adjustments; in the first two weeks there were 14 teams that opened on the moneyline at +200 or higher. In week 3, there was 2. Somebody took notice.
 
Regardless of who let the dogs out, their success proved unsustainable. The trend was being driven by hot or cold streaks from just a handful of teams, and once their play (or the lines) normalized, the profitability of underdogs diminished. Any teams that did sustain their hot or cold streaks would soon be priced appropriately. Teams that shouldn’t be favored stop getting favored, and visa versa with dogs. Montreal was one example of a frequent longshot early in the schedule, but the longer they exceeded expectations, the more line prices adjusted to the new reality (well sort of).
 
There were losing streaks by Pittsburgh and Calgary that eventually stabilized, while the Rangers, Blues, Capitals, and Oilers all started getting mauled by dogs. But most eventually found their form, and the ones that continued struggling started to get priced accordingly. You need to ride trends with caution because sometimes it is being driven by small handful of teams, who can either reverse-course or are subjected to price adjustments. I’m able to stay on top of trend shifts by doing weekly betting reports tracking all these outcomes.
 
Underdogs entered week 5 guns blazing, winning 13 of the first 15 games, coming within 1 match of sweeping Tuesday night. Sadly for all the dog lovers out there, that proved to be their peak, as it was immediately followed by 12 days of downward regression. Some of the struggling favorites settled down, while some of the dogs driving the trend like Chicago and Philadelphia crashed hard. It took a few games before I was ready to stop betting them, but eventually found myself staring into a mirror screaming “they are who we thought they were!”
 
Week 5 was also when dogs -1.5 goals completely collapsed, but I still finished with a profit thanks specifically to an incredible week by Karel Vejmelka. I had been experimenting with small wagers on these alt pucklines, but didn’t cut myself off until they went 1 for 13 on the first two nights of week 6. I might have pumped the brakes hard, but didn’t completely abandon the category, waiting instead for juicy lines against struggling goalies on good teams. I did manage to finish Q1 with a 10% rate of return on the category, so it was not a total loss.
 
 
Over/Under
 


 
My 5 Best Over/Under Bets:                                Market’s 5 Best Over/Under Bets:
                                                                                    ($100 wagers)
 
1) Columbus overs, (+$890)                                 1) Columbus overs, (+$830)
2) Winnipeg unders, (+$797)                               2) Toronto unders, (+$793)
3) Vancouver overs, (+$784)                                3) Winnipeg unders, (+$720)
4) San Jose overs, (+$728)                                   4) Vancouver overs, (+$531)
5) Washington unders, (+$665)                           5) Rangers unders, (+$485)
 
My 5 Worst Over/Under Bets:
 
1) Rangers overs, (-$700)
2) Boston unders, (-$552)
3) Colorado overs, (-$540)
4) Boston overs, (-$426)
5) Chicago unders, (-$350)
 
The first couple weeks of the season can be a tumultuous time to wager on over/unders, when we have very little data on just how good each team is at scoring and preventing goals. But it’s also a double-edged sword because oddsmakers also haven’t fully calibrated their own models, creating an opportunity. There was a big boom in overs last season, which was widely reported by many betting pundits, surely creating a perception/appetite for overs among casual bettors. My expectation was that scoring could regress, and totals might be set too high to offset public hunger for goals.
 
Last season I performed very well early in the schedule on over/unders without using any algorithms (10% return in week 1), but this time around the start was rougher without my algorithmic safety net that I had become dependent on in the previous campaign. My primary algorithm looks at the last 5 games. My auxiliary algorithm looks back 10 games. Because of this rocky start, I started consulting my primary algorithm in week 2, before most teams had even played 5 games, but wasn’t always accepting the recommendations.
 
In week 1, overs did edge out unders, posting a modest 5% rate of return, then in week 2 the floodgates opened and overs really caught fire. This only provided a limited window of profitability because oddsmakers were quick to start raising the totals to offset any scoring increase. Those floodgates didn’t stay open long, as scoring regressed in week 3 creating value on unders. Despite all the pundit prognostication about increased scoring, the public started gravitating to unders, which really became apparent in my line movement tracking.
 
That short-term scoring boom followed by an immediate bust created a problem for my algorithm when it did officially come into use. It was remembering the boom when the bust was taking hold, recommending too many overs, which oddsmakers had made more expensive. Soon the newly emerging under boom began to look more like a trend than random variance. There was also a noticeable trend towards unders in week 3 last season, but without the surge in overs from day 6 to 13. In 17 games Saturday and Sunday in week 3, the public bet down the total or payout on the under in 14 of them. A lot of money was being played on unders.
 

It’s tough because often I’ll see a trend start to shift, but don’t want to overreact too soon in the event it’s just variance. My algorithm can take a few games before properly adapting to a new trend. Just as it looked like scoring was trending down, week 4 was the highest scoring week of the season to date with overs going 26-20-3. My algorithm only produced a small profit, struggling with all that trend shifting. But the data collected during that erratic week would set the stage for one of my most impressive O/U performances in my recorded history.
 
In weeks 5 and 6 combined, I hit on 62% of all my O/U wagers, with very few manual overrides. Though I was 4-1 on my overrides, all overs when the back-up was likely or confirmed to be starting. Each of my betting reports lists my top 3 categories to bet, and each of these two weeks marked the first and second times that both overs and unders finished in my top 3 (at least that I’m aware of). I managed to post a profit in my overall account balance both weeks, but would have been in the red had it not been for over/under.
 
Overs were one of my best categories, despite being the 3rd worst overall. Unders did have a higher rate of return and were my 4th best category, but my algorithm was able to generate a higher rate of return on overs. I don’t have an official explanation for how this occurred, but as previously noted, the public was betting unders much more aggressively than their counterpart. My guess is that this public action helped me get a better payout on my over selections, except that higher payouts did not significantly boost over profitability overall.
 
The New York Rangers were by far the best under team last season, which makes sense given that their #1 goalie won the Vezina. That continued this season, but Shesterkin was slightly less dominant. What really helped New York unders in the first quarter was lower goal scoring. My algorithm was mostly recommending Ranger unders, and went 0-7 on NYR overs. Four of those were manual overrides when Jaroslav Halak was the expected starter, but Halak unders went 5-0 while Shesterkin was 8-7. Halak was worse, but got much less goal support.
 
Columbus overs were the best Q1 O/U wager, which was also the case for most of last season. The addition of Johnny Gaudreau increased their offensive potency, while the team defense suddenly became significantly worse. That’s a perfect storm for overs. Meanwhile, the resurgence of Connor Hellebuyck was a boon for Winnipeg unders, which was one of my worst bets last season. I had a great first quarter hitting Winnipeg, but still have some work to do to win back all the money I lost on that bet in the previous campaign.
 
My algorithm was terrible at picking the right outcome of Boston Bruin games, which was entirely the result of which goalie started. It lost a big sum on Swayman unders and Ullmark overs. Though Ullmark unders went 7-7, and you would have posted a loss had you bet every over or every under. I was not expecting Toronto unders to be this profitable when they lost both their top 2 goalies to injury. It’s a bit of a miracle that the quarter played out the way it did. Even Kallgren had a low .891 SV% but his unders went 5-3 because of high totals.
 
I’ve been using this algorithm for less than one full season, so the sample is still relatively small, but rarely does it generate such strong returns from both sides. Its output tends to be lower when there’s an even balance between overs and unders, but it can cash big dividends when a trend kicks in one way or the other and sustains for a few weeks. Typically when it has a fantastic week, either one or the other category tends to be responsible. Looking back 5 games catches trends quicker, but I do continue consulting my original 10-game algorithm on each decision.
 
It’s a remarkably simple formula to use. Seldom does it lose a substantial sum of money, but some weeks it hits several and producing a hearty jackpot. Those of you who followed my betting reports last season know all about its effectiveness. The formula was inspired by the law of “keep it simple stupid” and basically just takes the average goals per game of each team’s last 5 matches. If you’d like to know more about my over/under algorithm and its success last season, click here.
 
 
Goalies
 
Two new columns that were added to my main worksheet this season were the two starting goaltenders, which I’m inputting at the end of every night. This makes it easy to quickly investigate how I’m performing when each goalie starts anytime my curiosity comes calling, but also when I’m making my bets on each game, I call up the log. If the back-up starts every fourth game and the #1 just got the nod 3 games in a row, it’s not hard to fill in the blanks. I’m effective at predicting starters from my fantasy hockey experience.
 
So which goalies were the best to bet on or against in the first quarter of the season?
 
Market’s 5 Best Goalies to Bet on:                     Market’s 5 Best Goalies to Bet Against:
($100 ML + $100 PL+1.5 + $100 PL-1.5)            ($100 ML + $100 PL+1.5 + $100 PL-1.5)
 
1) Linus Ullmark, (+$2,742)                                1) Erik Kallgren, (+$1,808)
2) Karel Vejmelka, (+$2,339)                               2) Sergei Bobrovsky, (+$1,568)
3) Martin Jones, (+$1,538)                                   3) Jaroslav Halak, (+$1,547)
4) Ville Husso, (+$1,019)                                      4) Thatcher Demko, (+$1,507)
5) Jake Oettinger, (+$1,017)                                5) John Gibson, (+$1,448)

My 5 Best Goalies to Bet on:                                My 5 Worst Goalies to Bet on:
(ML +PL)                                                                  (ML + PL)
 
1) Alexandar Georgiev, (+$1,627)                      1) Erik Kallgren, (-$1,250)
2) Vitek Vanecek, (+$1,163)                                2) Jaroslav Halak, (-$1,075)
3) Karel Vejmelka, (+$1,075)                              3) Alex Nedeljkovic, (-$950)
4) Martin Jones, (+$824)                                     4) John Gibson, (-$824)
5) MacKenzie Blackwood, (+$775)                    5) Logan Thompson, (-$749)
 
My 5 Best Goalies to Bet Against:                      My 5 Worst Goalies to Bet Against:
(ML +PL)                                                               (ML + PL)
 
1) Thatcher Demko, (+$1,260)                            1) Alex Stalock, (-$1,057)
2) Casey DeSmith, (+$725)                                  2) Alex Nedeljkovic, (-$625)
3) Jaroslav Halak, (+$709)                                  3) Daniil Tarasov, (-$582)
4) Filip Gustavsson, (+$618)                               4) Connor Hellebuyck, (-$543)
5) Anton Forsberg, (+$588)                                 5) Jonathan Quick, (-$490)
 
 
My #1 goalie to bet in the first quarter when you add up the totals from every category was Thatcher Demko, with most of that money coming from investing in his opponents. When he struggled to start the season, I was ready. We’ve seen that script play out before, but he has always followed up those terrible first quarters with a blazing hot streak in the second quarter. We’ll see, Spencer Martin has moved into an almost equal time share with slightly better play, but he’s not exactly outstanding either. My wagers on Vancouver opponents produced a -$408 loss when Martin got the nod. Demko went 2-11 while Martin went 4-2.
 
My first quarter was officially a disaster whenever Alex Nedeljkovic was starting in goal for my favorite team, the Detroit Red Wings. I posted a profit on the sum of Ville Husso starts, but Big Al was my bane, losing -$1,808 across all categories. He went 0-4 when I bet him to win and 2-0 when picking him to lose (also going 0-3 on his unders and posting a $67 gain on his overs). This wasn’t even a matter of making my bets early and not knowing who would start. Detroit had a mostly predictable pattern; I just wasn’t making a big enough effort to avoid betting Nedeljkovic. The biggest single loss was a failure to beat Chicago, and after that most of my bets on his starts were small.
 
Logan Thompson cracked my list of worst goalies to bet on, even though Vegas was one of the best teams of the quarter. The single largest reason was a blown -$1,000 bet on the Vegas puckline -1.5 goals vs Chicago, which is also how Alex Stalock landed as my #1 worst goalie to bet against. $1,000 is the max amount I’ll allow myself to bet on any single game, but I did not make any wagers that large after the Chicago game. That wasn’t even a conscious decision that I made. I just lost my confidence in the league’s worst teams being that bad.
 
Linus Ullmark was the best goalie to bet overall, but he fell $2 short of cracking my top 5 (at +$773). I had an 83% stake in the Bruins when Linus was in goal, but most of the investment was on the moneyline. My failure (if you can call it that) was not putting more on the puckline -1.5 goals (where he ranked #2 league-wide behind Karel Vejmelka). Speaking of Vejmelka, if you bet him to win all his starts, you had a nice quarter, whether that was moneyline, +1.5 goals or -1.5 goals. Vejmelka on the alt puckline -1.5 goals was one of the sneaky best bets of the first quarter. That one cashed out far more than the implied probability of the line would have anticipated.
 
One thing that burned me was Jaroslav Halak starts when I was expecting Shesterkin. When I’m sure Halak is going to start, my money is nearly always on New York opponents, and he was my 3rd best goalie to bet against. But early in the season I had some big bets on the Rangers expecting Igor, only to get spurned by an out of sequence start. The Rangers did not have a predictable pattern for goalie starts, not like some teams that will play the back-up every 3rd or 4th game like clockwork (with some variability from lining up weaker opponents for the second string keeper).
 
 
Live Betting
 
A new category that I started recording late last season was live betting, which is done in a separate worksheet and not included in my weekly total. These are mostly hedges, when the team that I already bet has a lead and the opponent is offering a high payout on the live line. I began referring to this worksheet as my “hedge fund”, but it did not lead to profit last season, and picked up right where it left off in May. Sometimes it works and you feel really smart when it does, but adding them all up it’s just a big net loser.
 
One story that has continued to get media attention early in the schedule was the number of blown leads and come from behind wins. This has been a record-breaking year for comeback victories. Intuitively, this would suggest there was significant value on live betting teams that were trailing. However, I was recording several live lines throughout this “comeback revolution”, always for the team trailing, and the sum of my recorded picks were not leading to profit. I was not recording the live line every single time a team was behind, but there was a large enough sample that it should have at least shown some profit.
 
How is it possible that all these comeback wins did not translate into profit for my live betting portfolio? My theory is that an overwhelming majority of the money wagered during games is being laid on the team that’s losing, not on the team with a 3-0 lead and a -2100 line. If there’s not an equal balance of wagers coming in on both sides, then the betting lines are not necessarily going to represent the actual probability of either team emerging victorious. My hedge fund was a net positive in week one but was a loser in weeks 2 and 3, leading me to almost abandon them completely by week 4.
 
For me to actually prove that these live lines are unfair, it would require me to assemble a large database of games with the score at each period’s end. Conversely, it’s much easier to determine if a game line is fair before puck drop, because you know the winning percentage of each team involved and can compare it to the implied probability of the moneyline. But with live lines, it’s much harder for even the most mathematically talented people to properly determine whether that line being offered is actuarily fair.
 
The other factor complicating my analysis on this subject is that many of the live lines recorded were “hedges” on the opposite side of what I had wagered prior to the game. So if I bet Toronto and they were up 2-0, I’d hedge the opponent with up to 1/3 of my projected winnings to guarantee a profit for either outcome. So my database was not a “random sample”. There was bias in the choices, so the results might have been much different had I just randomly chosen which lines to write down.
 
They weren’t all hedges, as I recorded several lines where the better team was trailing. In total, I logged 43 live lines all for teams that were trailing and 7 of them came back to win, which is 16%. It was reported on Spittin Chiclets at the end of November that 46% of wins were come from behind, which is dramatically higher than my live bet success rate. One possible explanation is that most of mine tended to be 2 or 3 goal leads, whereas that 46% surely includes a big number of blown 1-goal leads, which are not the lines that I was logging.
 
If a $10 bet was made on each of my recorded live lines, I would have lost -$45. It was not catastrophically bad, but not what you’d expect under the circumstances. If a live line is listed at +400 but should be at +750, most bettors probably wouldn’t even know the difference, or that they are getting bad value. And if very few are betting the other side, you could put a line that should be +1000 at +500 instead and I’m assuming people would still bet it. It’s possible to estimate come from behind probability using my sample, but it would be a flawed statistic.
 
Perhaps my best hedge was in week one when Vancouver was up 2-0 on Philly in the 2nd period but were getting outshot 18-5. I had the Canucks moneyline, so took 1/3 of my projected winnings and put it on Philly at +550. They won 3-2. It really helped that I was watching the game that the Flyers were completely dominating play. One of the reasons that I stopped trying the live hedges was because the lines seemed to be getting less desirable, requiring me to risk a greater share of my winnings to hit a payout that would cover both bets with profit.
 
Right now the observation that the lines became undesirable is more anecdotal, because I have yet to take the time to dig into my numbers and start estimating probability. That might be a good project to tackle in the summer. Right now I’ll just continue recording interesting lines and tracking profitability.
 
 
Back-to-Backs
 
Last season if you bet $100 on the moneyline for every rested team to beat every opponent who played yesterday, you would have banked nearly $4,000. This was a category that posted an incredible 12% return, whether it was an underdog or a favorite, didn’t matter. If you’d like to read more about the profitability of this demographic in the previous 3 seasons, you should check out my new book. To read more, visit the Amazon store. My theory was that everyone getting infected with Covid could diminish players ability to recover after games.
 
My concern over the summer while writing my book was that oddsmakers also knew exactly how much they had lost on these games and would make the lines prohibitively expensive in the new campaign (expressed in my week 1 Betting Report). Towards the end of last season, there were many games where I noted “this line would make absolutely no sense if it wasn’t back-to-back”. That was repeated in my game notes often. So there was absolutely a movement to nerf the lines last season, but the rested teams continued delivering wins.
 
Teams with a rest advantage picked up right where they left off in May, at least early in the new schedule. They won 78% of games in week 1, 60% in week 2, and 40% in week 3. We saw diminishing returns, such that by the end of week 5 they had only won a combined 53% with an average implied probability of 55%, meaning they weren’t winning often enough to cover the price of their lines. I had a lot of success initially on the moneyline, but took a giant loss when Vegas failed to cover -1.5 goals vs Chicago in their second game of the season.
 
Rested teams vs tired opponents was a big winner in week 1, but oddsmakers were quick to compensate the betting lines, making some of them prohibitively expensive (like the 0-2 Senators closing as -135 favorites to beat the 3-0 Boston Bruins). Despite these costly prices, the public was still betting down their payouts in a large majority of their games. Of the first 53 back-to-backs, 40 of them took public money (meaning the payouts shrank on the closing line) while the tired teams took money only 12 times.
 
If you bet $100 on every single back-to-back moneyline on the rested side, you won $400 in weeks 1, 4, and 6, but lost -$666 in weeks 2, 3, and 5. Ergo, these btb moneylines were a net loser in Q1, but the pucklines produced better results, $189 profit for +1.5 goals and $407 for -1.5 goals (which includes alt pucklines +1.5 for favorites and -1.5 for underdogs). I actually finished the quarter down -$1,987 on all my anti back-to-back bets, though -$1,000 of that came from that Vegas-Chicago game.
 
Last season I fell into the habit of unambiguously betting against nearly every rest disadvantage, but when the price gets too expensive, it can be hard to flip your mindset and take the other side. Note to self: back-to-backs are a net loser in the current schedule and it’s worth considering getting on the other side of some of these wagers. There were 3 games when I bet on the tired team, going 1-2. So my early attempt at zagging weren't fruitful, but there’s a lot of games left to play.
 
 
My 1st Quarter Results:
 
*Market Bets calculated by betting exactly $100 on every outcome this quarter*
 

 
My Best Categories:                                          Market’s Best Categories:
(all wagers)                                                         ($100 wagers)
 
1) Road moneyline, (+$2,969)                          1) Longshots ML (+200 and up), (+$1,140)
2) Over, (+$2,158)                                             2) Road dogs moneyline, (+$757)
3) Underdog moneyline, (+$1,759)                  3) Shorting back-to-backs -1.5 goals, (+$407)
 
 
My Worst Categories:                                         Market’s Worst Categories:
(all wagers)                                                           ($100 wagers)
 
1) Shorting back-to-backs, (-$1,987)                 1) Favorites moneyline, (-$2,449)
2) Heavy favorites -1.5 goals, (-$1,803)             2) Favorites -1.5 goals, (-$2,354)
3) Heavy favorite moneyline, (-$1,009)             3) Overs, (-$1,823)
 
 
Market Best Moneyline Bets:                              Market Best Teams to Bet Against ML:
($100 wagers)                                                         ($100 wagers)
 
1) New Jersey Devils, (+$1,082)                           1) Toronto Maple Leafs, (+$606)
2) Boston Bruins, (+$946)                                    2) Florida Panthers, (+$588)
3) Seattle Kraken, (+$656)                                   3) Washington Capitals, (+$480)
 
Market Best Bets +1.5 Goals:                        Market Best Teams to Bet Against +1.5 Goals:
($100 wagers)                                                           ($100 wagers)
 
1) Seattle Kraken, (+$624)                                   1) Toronto Maple Leafs, (+$468)
2) Vegas Golden Knights, (+$431)                       2) Anaheim Ducks, (+$459)
3) Boston Bruins, (+$390)                                     3) Calgary Flames, (+$437)
 
Market Best Bets -1.5 Goals:                         Market Best Teams to Bet Against -1.5 Goals:
($100 wagers)                                                           ($100 wagers)
 
1) Boston Bruins, (+$1,719)                                 1) St. Louis Blues, (+$1,225)
2) Arizona Coyotes, (+$1,590)                             2) Florida Panthers, (+$1,010)
3) Dallas Stars, (+$1,475)                                     3) Columbus Blue Jackets, (+$800)

My 5 Best Teams to Bet on:                                 Market’s 5 Best Teams to Bet on:
(ML +PL)                                                               ($100 ML + $100 PL+1.5 + $100 PL-1.5)
 
1) New Jersey Devils, (+$2,333)                          1) Boston Bruins, (+$3,055)
2) Boston Bruins, (+$1,462)                                 2) New Jersey Devils, (+$1,885)
3) Colorado Avalanche, (+$1,344)                       3) Arizona Coyotes, (+$1,863)
4) New York Islanders, (+$827)                           4) Dallas Stars, (+$1,760)
5) Seattle Kraken, (+$824)                                   5) Seattle Kraken, (+$1,480)
 
 
My 5 Worst Teams to Bet on:
(ML +PL)
 
1) New York Rangers, (-$1,251)
2) Toronto Maple Leafs, (-$1,139)
3) Vegas Golden Knights, (-$856)
4) Chicago Blackhawks, (-$835)
5) Detroit Red Wings, (-$774)
 
 
My 5 Best Teams to Bet Against:                       Market’s 5 Best Teams to Bet Against:
(ML +PL)                                                              ($100 ML + $100 PL+1.5 + $100 PL-1.5)
 
1) Florida Panthers, (+$1,064)                            1) Florida Panthers, (+$2,015)
2) Vancouver Canucks, (+$852)                          2) Anaheim Ducks, (+$1,396)
3) St. Louis Blues, (+$767)                                   3) Nashville Predators, (+$1,156)
4) Minnesota Wild, (+$749)                                 4) Toronto Maple Leafs, (+$1,129)
5) Pittsburgh Penguins, (+$668)                         5) St. Louis Blues, (+$1,045)
 
 
My 5 Worst Teams To Bet Against:
(ML +PL)
 
1) Los Angeles Kings, (-$858)
2) Seattle Kraken, (-$806)
3) Chicago Blackhawks, (-$736)
4) Vegas Golden Knights, (-$715)
5) Winnipeg Jets, (-$651)
 
 
Team By Team Power Rankings
 
The team-by-team gambling Power Rankings are ordered by the sum of all my bets on each team to win or lose, over or under for the entire season. They are my own personal power rankings, reflecting my own success picking the outcome of their games. These aren’t necessarily the best teams to bet on, as some were swung by a few instances of good luck or bad judgement. You’ll have to read the team summaries for a deeper understanding of the replicability. If you are going to be betting on hockey in the near future, it may help you to read about my own personal success and failure each quarter. I’ll also list the results of betting $100 on every outcome for each team.
 
 
1) New Jersey Devils, ($2,298):
 

Some of my preseason team prop bets are looking genius in retrospect (Nashville +170 to miss the playoffs, Minnesota and Pittsburgh under 101.5 PTS, etc.) but one that’s not aging well is the New Jersey Devils under 90 PTS. I knew this was a young team on the rise, but was not expecting the addition of Vitek Vanecek to shore up their porous goaltending. There’s a reason Washington let him go. We’ve seen MacKenzie Blackwood be good for stretches in the past, but last season was a train wreck. The Devils lost their first 2 games against Philly and Detroit by a combined score of 10-4, and my pessimism looked justified.
 
But that did not last long, as they would go on to win 16 of their next 17 games. But it was their 1-0 victory against Colorado that inspired me to start aggressively betting Jersey to win, with great success. They had won 4 of 5 entering that Avs game, but all their wins were against teams who missed the playoffs in 2022. Most of my investment was on the moneyline, totaling $2,198 of profit. They went from #21 in my week 3 Power Rankings, all the way to the top by the end of week 6. The thing about doing these weekly betting reports, it doesn’t take long to figure out when I’m wrong and need to adjust my tactics.
 
I’m also a big believer in Jack Hughes and drafted him on all my fantasy teams. Both my fantasy teams drafted too many centers and I made 30+ trade offers trying to unload my surplus. Hughes was included in exactly zero of my trade offers. The kid is a super star. Devils over/unders were 8-8-3, so there was no clear if you always bet one way or the other and my algorithm posted a small profit on both sides. For me it didn’t matter which goalie started, as I had a strong rate of return regardless of who got the nod.
 
 
2) Montreal Canadiens, ($1,517):
 

The Montreal Canadiens defeated the Toronto Maple Leafs in their first game of the season. They finished dead last in the previous season, but started this one off in style. In my game notes for their next match, I wrote “Montreal might be dangerous” letting myself know that this team might not follow the expected Tank-A-Palooza 2023 script. So I had already been succeeding with betting Montreal to win when they were a +250 dog vs St. Louis (including +550 on the alt puckline -1.5 goals), and struck gold. The Blues had lost 3 consecutive games by a combined score 13-3, so the bet was really a no-brainer.
 
Hitting on Habs -1.5 goals at +550 might have been the longest odds that I had ever hit on a hockey wager, helping lift the team to #2 in my week 3 Power Rankings (I later hit bigger lines on the Yotes). They went 4-5 to close out the quarter after that Blues win and my money was on Montreal to win 8 of those (the only game where I bet their opponent in that stretch was New Jersey), yet they were able to sustain their position in my ranks because they won some games as a significant underdog with a big payout. My algorithm crushed their overs in weeks 5 and 6. They finished Q1 just a few PTS out of the wildcard when they were expected to be a lottery team.
 
My returns were strong for both Jake Allen and Sam Montembeault, but Sammy was the better goalie, posting a .915 SV% in the first half while Jake Allen was down at .891. If you liked betting Montreal opponents -1.5 goals, it was better for you if Jake Allen was in goal. You also wanted to be betting Allen over and Montembeault under, though I actually did very well on over/under when Montembeault started, with equally impressive returns both over and under (in Monty’s 6 starts, I was 6 for 6 on my O/U bets). Meanwhile, Jake Allen unders cost me -$218.
 
 
3) New York Islanders, ($1,445):
 

Looking at my game notes from the Islanders first 4 matches: “unsure about Isles early” to “not sure Isles are good yet” (insert blowout win vs Ducks) to “pretty sure Isles are better”. From that game note on, my money was on New York for 6 of their next 8 games, paying dividends.  Last season they started with a crazy road schedule while renovations were being completed to their arena, which played a role derailing their entire season. With a return to normalcy, they proved the previous campaign was just an aberration. Ilya Sorokin’s .926 Q1 SV% had a lot to do with their early success, complemented by reliable scoring.
 
Though it should be noted that my proficiency betting their games thus far isn’t just because they’re a better team and I’m picking them to win. I’ve actually posted a decent return when betting them to lose. The Isles only lost 8 games in Q1 and 6 of them were by 2 or more goals, so while their opponent moneyline was a net loser, you would have turned a profit betting to lose every match on the puckline -1.5 goals. You might think that the Isles are a tight checking low scoring team, but their overs went 11-9 thanks to contributions from the offense. My algorithm generated profit on both sides, but more from overs.
 
Sorokin was the better goaltender, but both gatekeepers had a similar win rate. There wasn’t a lot of difference between the two from a betting standpoint, but it was better to have Sorokin if you bet the Isles to cover -1.5 goals. Both Sorokin and Varlamov were net losers on unders with a small gain on overs, so it didn’t really matter which one was starting when you were making over/under wagers.
 
 
4) St. Louis Blues, ($1,355):
 

I’ve said it before and I’ll say it again, one of my big rules is “never trust the St. Louis Blues to win or lose”. At the core of that decree is Jordan Binnington. When he’s struggling, which happens every so often with some regularity, you don’t want your money invested in St. Louis against anyone. But it’s also hard to trust on the other side, because sometimes he’s brilliant and will steal games. Good luck figuring out which one will show up. That’s why I’ve struggled myself with this team at various points in the past 3 seasons, but 2022/23 is off to a good start.
 
The Blues on the second half of a back-to-back with Thomas Greiss in goal got blown out by the struggling Nashville Predators 6-2. The next game against Montreal, oddsmakers must have expected them to come out flying to avenge that embarrassing loss because they were a -300 favorite to beat Montreal. The line made no sense to me with the Blues losing 3 straight games, so my money was on the Habs, with a little extra on the alt puckline -1.5 goals at +550. Montreal won 7-5 and I hit the jackpot. That’s when I smelled blood in the water and my predatory instinct kicked in.
 
If you had bet $100 on St. Louis opponents -1.5 goals in all 4 of their games that week of the loss to Montreal, you walked away with $1,310. Every other week combined their opponents were a net loser -1.5 goals, as the Blues followed up an 8-game losing streak with a 6-game winning streak. Ironically as erratic as Jordan Binnington was, he’s the whole reason St. Louis ranks this high. I’m up $543 betting J.B to win, $545 betting him to lose, with a small profit on unders and a strong profit on his overs. Meanwhile, I lost -$58 in the 4 Thomas Greiss starts.
 
 
5) Washington Capitals, ($1,214):
 

One month into the season, Washington was one of two teams generating profit for my portfolio “from all categories” meaning; betting to win, lose, over, under. Though it was their very predictable over/unders that was the primary driver of my early success, especially unders, elevating them into my top 5 teams. There was not a specific strategy driving my pick selection on moneylines and pucklines, just that I tend to like betting Washington when they are underdogs, avoiding them more often when favored. But once they really started to struggle, even betting them as dogs became unappealing.
 
They were devastated by injuries early in the schedule and found themselves 6 PTS out of dead last at the end of Q1. They had a home game against Arizona as a -280 favorite, and I had no interest whatsoever in paying that price, so took the Yotes +235, which was a winner. They made a significant summer upgrade in goal adding Darcy Kuemper from the Stanley Cup champions (who posted a decent but not impressive .907 Q1 SV%), but didn’t do much to upgrade their aging forward group. That’s a partial explanation for why their unders were such a strong first quarter investment.
 
All my over/under profit came when Kuemper was starting, as I was a net loser in Charlie Lindgren’s 5 starts. There was not a significant drop-off with the back-up goalie, who posted a .905 SV% and actually had a higher winning percentage. There was not a lot of public confidence in the Caps, as their projected payout was only bet down from open to close in 25% of their games (33% of Kuemper’s starts and 0% of Lindgren’s starts). Nobody was rushing out to bet Washington when they found out Lindgren would get the net.
 
 
6) Vancouver Canucks, ($1,175):
 

Living in Vancouver means that I watch more Canucks games than any other team and also listen to local sportstalk radio. I was quasi-bullish on the Canucks entering the season, betting them to win twice in their first 3 games. They went 0-3 and it quickly became apparent this was another bad start, which we’ve seen each of the last 2 years. So I started aggressively betting Canuck opponents with fantastic results. Thatcher Demko struggled early too, mostly thanks to terrible defense in front of him (especially short handed) making their overs a solid investment early (which I cashed in on).
 
The bulk of the credit for my Q1 Canucks success goes to opponents moneyline and overs (which went 13-6). The team wasn’t much better at home, winning only 38% of their games in Vancouver. With J.T Miller, Elias Pettersson, Bo Horvat, Brock Boeser, Quinn Hughes, and Thatcher Demko, there is no way they should be that bad. At the end of Q1 they were closer to dead last than a playoff spot, so it’s looking unlikely that playoffs are probable. There has been a lot of speculation that the coach is responsible for the terrible defending and that he could be fired, but at this point, maybe just keep the bad coach and play for lottery balls.
 
It should probably be noted that all my profit betting Vancouver opponents came when Thatcher Demko was in goal. Spencer Martin was slightly better with an .898 SV% (while Demko was .883), winning 4 of his 6 starts. My rate of return on overs was similar for both netminders, but I profited $1,260 betting against Demko while losing -$408 betting against Martin. Strangely the public seemed enthusiastic betting Vancouver when Martin was starting, as the team’s projected payout was bet down from open to close in 5 of his 6 starts. This is relatively uncommon with back-up goalies (at least in my short experience tracking closing lines).
 
 
7) Minnesota Wild, ($1,094):
 

If you follow the infallible Dom Lyshycycshn at the Athletic, you might have expected Minnesota to be the best team in the NHL this season. I was less bullish on their outlook given the salary cap catastrophe they’re dealing with, but certainly wasn’t expecting them to get outscored 20-12 in their first 3 games. Once that happened, my investments shifted entirely/quickly to their opponents. I even proposed a same game parlay Avs -1.5 goals with the over at +475 to one of my Twitter colleagues, but didn’t actually make the bet. It would have been a winner. You miss 100% of the shots you don’t take.
 
They did eventually settle down and improve, but their lines continued to get priced like that terrible start never transpired. That’s why I continued betting Wild opponents after the course correction. They lost 4 of 5 games to start the season, then won 4 of 5 games, then lost 5 of 7. Bad start, good recovery, then another slump. The early porous goaltending was a boon for their overs, but eventually Fleury settled down and their unders starting cashing tickets. I crushed their overs early in the schedule, then my algorithm switched me to unders almost exclusively, which is how they became one of my best O/U teams, profiting on both sides.
 
Fleury and back-up Filip Gustavsson posted nearly identical numbers, both with .906 SV% by the end of the quarter, but Fleury went 6-5 while Gustavsson went 2-5. Fleury started twice as many games, but I actually made more money from Gustavsson’s starts, mostly from betting him to lose. I lost nearly -$500 betting Fleury to win, and only a small gain betting him to lose, but my performance betting his over/unders was outstanding. Despite his early struggles, Fleury’s unders went 7-5.
 
 
8) Philadelphia Flyers, ($1,091):
 

Most experts seemed to think the Flyers were going to pick up where they left off last season, competing for last place. My own expectations were not much higher. What we all failed to see was Carter Hart being possessed by the spirit of Pelle Lindberg and carrying the team on his shoulders to win 4 of their first 5 games (I watched their entire second game vs Vancouver). By their third match vs Tampa, my game notes said “Flyers are frisky”. This led me to a very nice run betting Philly to win, but alas that early success would eventually prove to be just an illusion, or perhaps they were simply derailed by injuries.
 
I still finished Q1 up more than $300 betting them to win, but that number was much higher before the clock struck midnight and I was a little too slow to react. The turning point for me was when Carter Hart began struggling. He still finished the quarter with a .920 SV%, but that was north on .940 just a few weeks earlier. He regressed hard in the last 2 weeks of Q1. Philly unders went 10-8-1, but I somehow managed to post a greater profit on their overs while still performing strong on the unders. My algorithm had a good handle on which outcome to select.
 
The Flyers were one of 6 teams where I posted a profit betting them to win, lose, over, and under, which always brings me personal satisfaction. That being said, I’m not expecting myself to bet them to win very often in the second quarter, it will mostly be small wagers on longshot moneylines. One interesting Q1 stat is that the Flyers were in a lot of 1-goal games, whether winning or losing. Betting either team +1.5 goals would have won your wager in 14 of 19 games, though you would have generated a higher rate of return betting the road teams +1.5.


9) Dallas Stars, ($1,053):
 

The 2022 Stanley Cup playoffs was a coming out party for Jake Oettinger, as the Stars nearly upset the heavily favored Calgary Flames in round 1. I wasn’t sure what to make of this team entering the new season, but it didn’t take long for the Dallas train to start rolling, winning their first 2 games against Nashville by a combined score of 9-2. By their third game, the comment in my game notes was “Dallas might be good”, I just needed to see them beat somebody better than Nashville. It’s worth noting, they had 11 Q1 wins, but only 3 of them against teams in a playoff spot by American Thanksgiving.
 
They finished the quarter in second place in the western conference, and most of my money was invested in their victories, but somehow only managed to walk away with $9 of profit from their 11 wins. Whereas they lost 8 games and I banked over $300 from their losses. Here’s a fun fact, the Stars won 11 games, all of them by at least two goals; if you bet $100 on them to win every moneyline, you only banked $135, but if you bet them -1.5 goals every game, you won $1,475. That was the biggest disparity between any team’s ML and PL -1.5 in Q1, but Arizona wasn’t far behind.
 
Oettinger was looking like a Vezina trophy favorite for the first few weeks, but the train seemed to come off the tracks when he missed a few games with injury. Upon his return, there were still some good games, but suddenly he was getting blown up more often. He still finished the quarter with a .929 SV% but his unders were only 6-5-1. I actually won more money on his overs, but produced a nice profit on both. Back-up Scott Wedgewood wasn’t bad.
 
 
10) Arizona Coyotes, ($1,033):
 

I entered this NHL season fully embracing Tankfest 2023, and Arizona was among my prime targets. The problem was, oddsmakers were one step ahead of me. The same “Big Short” of the Coyotes that fueled my success last October was going to be a lot more expensive in 2023. They played their first 6 games on the road, losing 4. I managed to win some money betting Arizona opponents for that opening road trip despite a big loss on their upset win in Toronto. By the time they returned home, the underdog revolution had started to take hold, and I found myself betting Yotes to win every match for 11 consecutive games (that streak was still alive as at the time this was posted).
 
It’s worth noting that had I ended the 1st quarter on Wednesday instead of Tuesday, Arizona would have ranked #2 in my Power Rankings after a 4-0 win against Carolina. They hit yet another longshot puckline, this time at +750. They were actually the #1 team in the entire NHL to bet -1.5 goals every game in Q1 (generating $1,590 on $100 wagers) despite only hitting 5 in 17 games. Why? The lines were +850, +400, +600, +390, and +550. I never would have imagined in September betting this much on Arizona to win, but they continue cashing big tickets as extreme longshots.

 
All my success betting Arizona to win was thanks to Karel Vejmelka, losing -$550 betting on Connor Ingram wins. Vejmelka finished Q1 with a respectable .909 SV%, while Ingram was down at .885. Coyote unders went 10-7, but they were 8-3 with Vejmelka and 2-4 with Ingram. I was a big winner on Vejmelka unders and Ingram overs, but a net loser on Vejmelka overs and Ingram unders. My algorithm posted a small gain on both overs and unders, but I would have been better off waiting for the starter to be named before making my O/U selection.
 
 
11) Pittsburgh Penguins, ($1,019):
 
 
The Penguins were one of my worst teams to bet last season, but many of those mistakes did not carry over to the new schedule. The Pens started strong, winning 4 of their first 5 games and I was on the right side for most of those matches. However, when they started a 7 game losing streak, I was able to quickly adapt thanks to most of them being road games when I’m already more likely to take their opponent. October was one of the best months I’ve ever had betting on Pittsburgh games, mostly thanks to overs and betting them to lose.
 
The Pens can be a very public team, so it can be hard to get value on their lines if you’re betting them to win. When they become extra profitable is when they struggle. In this case my foot stayed on the gas pedal a little too long, but my course was corrected once they started winning again. They followed up that 7-game losing streak by winning 6 of their next 8 games. They went from good, to bad, then back to good. One of the reasons for the losing streak was Tristan Jarry struggling, as Casey DeSmith eventually injected some stability.
 
All my Penguins profit came with DeSmith in goal. For as erratic as Jarry was, he was reasonably effective when my money was on Pittsburgh opponents. Whereas DeSmith had better numbers, but lost more games when I bet Pens to lose. It’s a little paradoxical. Their overs went 10-8 and my algorithm recommended too many unders, at least when Jarry was in goal. It posted a profit on Jarry overs and DeSmith unders, which was the overall strategy you should have been following in the first quarter.
 
 
12) Buffalo Sabres, ($1,008):
 

I’ll be the first to admit that my expectations for the Buffalo Sabres entering the season were not particularly high. It seems strange to me in retrospect that I was betting them to win every game right from opening night. Checking my game notes, the first two bets were just undesirable line price on their opponent. Then by game 3, I wrote “Sabres are frisky” and then it became a trend, at least until the rest of the public caught wind of this rising storm and the prices on Buffalo started becoming prohibitively expensive.
 
The Sabres would win 7 of their first 10 games, but getting turned off by their line prices proved to be a gift, as they followed up that impressive start with 8 consecutive losses (all but one of those were by at least two goals). The collapse wasn’t something that I anticipated, and had they continued being priced as dogs, I probably would have continued hitting that far too long. Instead, I finished the first quarter making a nice profit both when betting them to win and lose, with a similar amount of money invested in both outcomes.

 
Buffalo overs went 10-8-1. Most of my money was on that outcome, managing only a small profit. One of the reasons for their hot start was receiving a few weeks of spectacular goaltending from both Eric Comrie and Craig Anderson, but it was Comrie especially who crashed the hardest, as his SV% plummeted all the way to .887 by the end of the quarter. If you had bet $100 on Comrie to win every game by at least 2 goals, you banked $735. If you bet his opponents to win every game by 2+, then you also made a profit, $430. Comrie was not in many 1-goal games.
 
 
13) Ottawa Senators, ($753):
 

One of my favorites preseason team prop bets was Ottawa over 86.5 PTS after they made some good moves to strengthen their roster in the summer, but by the end of the first quarter, they were on pace for 56 PTS. One of the problems with my calculus was not anticipating how competitive the Atlantic division would be, as both Montreal, Buffalo, and Detroit all improved over the 2nd half of last season. While the Sens might have fallen short of my expectations, it didn’t translate into big betting losses. I wasn’t making big bets on Sens to win.
 
After losing their first 2 games, they went 4 for 4 including wins against Boston, Washington, and Dallas. In theory that should have boosted my confidence in my preseason prediction. Instead, my money actually flipped more to the other side, mostly because of undesirable line prices. Oddsmakers still thought this could be a playoff team, and they were being priced accordingly. So I had become a majority shareholder in their losses before even fully realizing that they were not quite as good as my expectation.
 
My over/under algorithm had a strong quarter, pulling a nice profit from both sides of Ottawa. Unders went 9-8-1, yet I managed a higher rate of return on overs. It was just a matter of picking the right ones. The expected #1 starter Cam Talbot was injured heading into the season, and Anton Forsberg seemed to take a step backwards. Forsberg did the damage to my Sens unders, while my algorithm was very effective at selecting the right outcome when Cam Talbot was in goal.
 
 
14) Florida Panthers, ($707):
 

My big criticism of the Panthers after trading Weegar and Huberdeau for Matthew Tkachuk was that it made them a worse team, even if it was intelligent roster management (or so people told me). Early in the season they were clearly not as good, and it was their loss to Chicago in game 7 that inspired me to take a larger short position (hitting bets on Philly +175 and Arizona +225 in the games that followed). They continued struggling to get traction for the rest of Q1, winning 3 of 4 then losing 3 of 4. They were outside the playoff picture on American Thanksgiving.
 
Within 2 games of that Chicago loss, I was writing in my game notes that the Panthers were in trouble. Oddsmakers continued charging expensive prices, which was a big factor driving me to their opponents. This was also right around the time when I was betting underdogs heavy as a demographic, and Florida was certainly one of the wounded beasts I was preying on. It cost me some big bets to figure out they were not the same team, but once my wagers shifted to the other side, I won back all those losses and more.
 
A big difference in Panther play from Q1 last season was a big step backwards for Sergei Bobrovsky, who produced an .888 SV% versus Spencer Knight’s .918. Their overs went 11-7-1, with Bobrovsky going 8-4 and Knight going 3-3-1. You definitely wanted to bet Bobrovsky overs, while Knight overs were a net loser. Bobrovsky lost more games, but I won more money when betting Spencer Knight to lose, mostly because he was getting more starts by the time I was aggressively betting Florida to lose.
 
 
15) San Jose Sharks, ($669):
 

My expectation entering the season was that San Jose would be worse after trading away Brent Burns, leaving their blueline deplorably thin. What I did not foresee was Erik Karlsson entering the campaign in “beast mode” and producing at a higher rate than any defenseman in the salary cap era for the first dozen games. Despite that super-human effort, they were still a bad team. Even during my little underdog revolution, I wasn’t jumping on Sharks to win terribly often (and was a net loser when doing so).
 
They were bad, but I had difficulty profiteering from that because they were actually pretty good at covering pucklines +1.5 goals. That’s noteworthy because I had some large wagers on their opponents -1.5 goals, and was a big loser when doing so, offsetting my gains on the opponent moneyline. Frankly I was a net loser both when betting this team to win or lose, but they ranked #15 in my Power Rankings because my over/under algorithm absolutely loved betting on this team, most especially overs, which went 11-9-1.
 
James Reimer was the better goaltender (.906 Q1 SV% vs Kahkonen’s .894), earning twice as many starts. Reimer’s over/unders went 7-7, split evenly, but my algorithm went 10-4 in those 14 games, with a good return on both over and under. It was indeed Reimer who stole all my puckline wagers, though Khakonen was also a net positive +1.5 goals., while his overs went 4-2-1. Certainly seemed like you want the over if you think Kahkonen will start, but the sample is still small.
 
 
16) Colorado Avalanche, ($557):
 
 
The Stanley Cup champions lost some big pieces in Darcy Kuemper and Nazem Kadri over the summer while also losing captain Gabriel Landeskog to long-term injury. This was not the same Avalanche team that steamrolled the opposition last spring, replacing Kuemper with Rangers back-up Alexandar Georgiev, whom it was widely reported seems to be a better goaltender with a bigger workload. That proved to be correct in Q1, as Georgiev posted an impressive .929 SV%, while Francouz wasn’t much worse at .925.
 
The team might have lost some pieces, but they still had Makar, MacKinnon, Rantanen, and top quality goaltending; helping them overcome those losses. I won $1,326 on their first 3 games, then lost -$1,275 on their next 3. In the second and third weeks, the Avs only won 3 times in 7 games, which might have increased my pessimism, but it also helped to lower their line prices. Suddenly, we started getting decent value on Avs to win, and I successfully jumped back on that bet in time for them to win 6 of 7 in weeks 4, 5, and 6.
 
All my success betting Avs to win came with Georgiev in goal, but my algorithm was awful at betting his over/unders. You’d think with his numbers that unders would have been a good bet but they only went 6-6 in his 12 starts. My algorithm went 2-10 on those games, losing equally large amounts on overs and unders. Francouz was the lesser gatekeeper, yet I pulled a nice little profit from his unders. I’m not precisely sure what happened in those Georgiev starts, but I’m going to hope it’s just fluke variance.
 

17) Winnipeg Jets, ($537):
 

Add the Winnipeg Jets to the list of teams who exceeded my expectations early in the schedule. It was not a deliberate strategy on my part to bet them to lose, but they kicked off with a very tough schedule vs New York, Dallas, Colorado, Vegas, Toronto, and St. Louis. My money was on their opponents for 5 of the first 6 games, with the Jets going 3-3 and me going 4-2. Nikolaj Ehlers was placed on IR, and last time that happened the Jets really struggled. This time however, they performed better in his absence, winning 5 of their next 6.
 
After a few games, I started taking notice and betting them to win more often, but the damage had already been done. By the end of the quarter, I won $500 betting the Jets, and lost -$650 betting their opponents. The whole reason that I’m here to report a $537 profit is because of their unders, which went 12-4-1. It’s worth noting that Winnipeg was my #1 worst over/under team last season, and a lot of that red ink came from chasing unders. It’s satisfying that it’s finally starting to generate positive returns, but who knows how long that will last.
 
Of course the reason that their unders boomed in Q1 is because of the return to form of former Vezina winner Connor Hellebuyck, posting a .935 SV%. Betting Hellebuyck to lose was a costly mistake for me early in the schedule, but eventually the correct adjustment was made. Interestingly, he did post a better return -1.5 goals than on the moneyline, as the Jets were giving him strong goal support. Back-up Big Save Dave posted an .890 SV% yet still won 3 of 4 starts (his overs went 2-2).
 
 
18) Seattle Kraken, ($482):
 

Seattle’s inaugural season fell far short of the high bar set by the Vegas Golden Knights, as the Kraken were one of the worst teams in the league, thanks in large part to porous goaltending. They lost 5 of their first 7 games and it was starting to look like there was no improvement, at least until Phillip Grubauer was injured and an unlikely hero stepped into the fold, journeyman Martin Jones. That was a turning point for me because Grubauer was injured in a victory against Colorado that cost me a large wager.
 
Beating the Avalanche helped gain my confidence, as they would go on to win 8 of their next 12 games to close out the quarter, and my money was on Seattle to win/cover 9 times in those 12 games. Martin Jones was even added to one of my fantasy teams. You definitely didn’t want to bet Seattle to lose in the first quarter, especially on the road, and especially -1.5 goals. In 18 games, Seattle only lost by 2 or more goals twice, covering +1.5 goals 16 times (including every single road game). If you’re wondering, yes that ranks them #1 in the league in that category.
 
Jones wasn’t spectacular, just reliable with a .913 SV%. Sometimes reliable is all it takes for a team to go on a winning streak. That reliable goaltending also helped juice their unders, which went 10-6-2 (and 9-4-2 when Jones was the starter, meaning their overs 2-1-1 when someone else was in goal). Certainly all my success betting Seattle came with Jones in goal, losing -$600 in 3 Grubauer starts. I spent most of that Jones run waiting for the clock to strike midnight on Cinderella (which it did at the start of Q2 after Grubauer returned from injury).
 
 
19) Los Angeles Kings, ($339):
 

Some of you might recall my uncanny ability to affect the outcome of LA Kings games last season; whatever my wager, the opposite would happen. It was like I had the power to make them win or lose based on my choices, but it was more about them beating good teams and losing to bad teams. Even if there truly was a divine curse on my Kings bets last season (which is just a joke by the way), it seems to have lifted. The same perils that befell me last year have mostly been avoided. Though I’m still a big loser when betting King’s opponents.
 
Part of my problem last season was Jonathan Quick outplaying my expectation and Cal Petersen being entirely erratic. Petersen is equally terrible, posting an .876 Q1 SV%, but still won 5 of 9 starts thanks to strong goal support. Whereas Quick took a step backwards and had a losing record in the first quarter, except when my money was on LA opponents. When I bet Quick to win, his record was 1-5. When I bet him to lose, his record was 5-2. The explanation is probably similar to last season, losing to bad teams and beating good teams.
 
The only reason that the Kings were not down near the bottom of my Power Rankings yet again was their over/unders, which my algorithm has been crushing. Having both goalies struggle meant their overs went 12-9-1, and I pulled a really impressive profit when invested in that outcome. Quick overs went 6-6-1 (with my algorithm pulling a nice profit from both sides in his starts) while Petersen went 6-3. There was definitely a higher rate of return on Petersen overs.
 
 
20) Calgary Flames, ($150):
 

Many of us expected the Calgary Flames would either improve with the additions of Kadri, Huberdeau and Weegar, or at least maintain their status as a playoff contender. Few were expecting them to get worse, and that’s what happened in the first month of the season, which even included a 7 game losing streak. They did manage to win 4 of their first 5 games, where I had initial success betting them to win. Shortly thereafter the rug got pulled out, and I lost a few big bets before even realizing what was happening.
 
Calgary is a team that I’ve struggled with at various points of the last 3 seasons, especially 2019/20 when they finished dead last in my Power Rankings. I managed to post a small Q1 profit on their games, thanks mostly to betting their opponents on the moneyline. The one wager that you really wanted to avoid was Calgary to win by at least 1.5 goals, as betting $100 on each would have lost you more than -$1,000. That also means that Calgary opponents +1.5 goals was a good wager to make on a regular basis.
 
Their overs went 9-9, and I pulled a small profit on both outcomes. Jacob Markstrom took a step backwards, posting a SV% of .889, compared to Dan Vladar’s .881. Part of the reason for the Flames success last season was that Markstrom .922 SV%, but he’s looking more like 2021 Jake who posted a .904. It’s hard to tell if the change in personnel is what’s hurt his play, or if he’s simply getting older and starting to wear down. He also struggled in 2021, badly for some stretches, when they still had Gaudreau and Tkachuk.
 
 
21) Columbus Blue Jackets, ($140):
 

One of my bigger misreads from the NHL preseason was expecting the Columbus Blue Jackets to be better with Johnny Gaudreau. I encouraged people to draft Elvis Merzlikins in fantasy, and he was one of the league’s worst goalies in the first quarter. The BJs ended the quarter closer to getting Connor Bedard than making the playoffs, leaving me feeling stupid, but I could not have been alone in that assessment. Fortunately my flawed foresight did not lead to betting losses, as it didn’t take me long to smell blood in the water and start exploiting the opportunity.
 
Sadly though, oddsmakers caught on to the futility pretty quick, so it became expensive to pick their opponents. The problem for me was that they managed to pull some big upset victories when I had large wagers on their opponents, so I ended up losing nearly -$400 when betting BJs to lose, despite them losing 61% of their games. The problem wasn’t Elvis and his .864 Q1 SV%, as I pulled a nice profit from his losses. The guy who stole most of my money was Daniil Tarasov, who was their best goaltender with a .906 SV% in 5 starts.
 
The best part of the collapse defensively was their overs hitting 10 times in their first 14 games, which was also a very profitable wager for me last season. Dรฉjร  vu all over again. Their overs had a winning record regardless of which goalie was in net. Though I hit a snag in the form of 3 consecutive unders at the end of the quarter. They also won a few games after Patrik Laine and Zach Werenski went on injured reserve, which only encouraged me to lay larger wagers on BJ opponents with negative consequences.
 
 
22) Carolina Hurricanes, ($122):
 

My outlook on the Carolina 2022/23 campaign was very bullish early. One of my favorite team props in September was Canes +220 to win the division, but some of the shine came off when they lost 3 of 4 games vs the Oilers, Flames, and Islanders (all of which I bet Carolina) in week 2. That may have curbed my enthusiasm a little too much, as it prompted me to bet their opponents in the next 4 games where the Canes went 4-0. That’s life as a hockey bettor. Sometimes overreacting to a small sample can backfire.
 
Digging myself out of that hole proved more difficult than hoped. It turns out that the team was not nearly as good as I thought they’d be, and that miscalculation was difficult to overcome, at least initially. I posted a small loss betting them to win, and a small gain betting them to lose. But once it became abundantly obvious to me that their quality was diminished, I was able to post some big gains in the first few days of the 2nd quarter (which was discussed in my week 7 Betting Report) but won’t be included in my Q1 summary.
 
One of Carolina’s issues was not getting the same top quality goaltending from Freddy Andersen early in the season, posting an .891 SV% in 8 starts before getting injured. Antti Raanta was an adequate replacement, but he was not stealing games. Allowing more goals should have juiced their overs, but their unders actually went 11-7-1, and my algorithm posted a nice little profit on that outcome. Part of the issue was that they weren’t scoring as many goals, especially in weeks 5, 6, and 7 when they lost 7 of 10 games.
 
 
23) Tampa Bay Lightning, ($52):
 

Tampa was my 4th best team to bet last season, whether picking them to win or lose, and they advanced to their 3rd consecutive Stanley Cup final. Part of the strategy responsible for my past success involved aggressively betting them to win at home, while being more skeptical on the road. They started the 2022/23 season with a road heavy schedule, so my action was drifting to their opponents more than I might have anticipated, which did not generate profit. I posted a small loss both when betting them to win and lose.
 
One of the big glaring standouts was Andrei Vasilevskiy not dominating like we’ve come to expect, a downward trajectory that began last regular season, but we forget about because he was great again in the playoffs. Evidence suggests the workload of the three consecutive trips to the Stanley Cup final is taking a toll, not only on Vasy but some of his teammates too. He allowed 3 or more goals 10 times in 14 starts, posting a pedestrian .903 SV% with a GAA of exactly 3.00. Vasilevskiy unders at least went 8-6, so there was that “good” news.
 
What’s interesting is that I actually posted $250 of profit when betting Vasilevskiy to lose, but lost -$400 when betting Brian Elliott to lose. Indeed Elliott was a worse goaltender with an .891 SV%, but the Lightning outscored those problems, winning 4 of his 5 starts. You definitely wanted to bet the over with Elliot in goal, as they went 4-1. Scoring goals wasn’t Tampa’s problem, but rather preventing them. Some of that might be attributable to unloading Ryan McDonagh to save cap space, though he doesn’t seem to be helping Juuse Saros much.
 
 
24) Boston Bruins, ($30):
 

Another one of my larger misreads entering the season was that the Bruins would struggle without Marchand and McAvoy, but I quickly jumped on the bandwagon when they started 3-0. Their 5-3 victory against Florida in the third games was a big confidence booster and motivated me to start making a large investment in their victories with great success. Unfortunately, my ability to pick the correct over/under was abysmal, losing nearly -$1,000 in the first quarter, almost entirely negating my $1,500 profit from their wins.
 
Their overs went 10-8-1, so I could have produced a profit by just betting overs every game. Instead, my algorithm recommended 11 unders and 8 overs, resulting in a big loss on both sides. My record was 3-8 on unders and 2-6 on overs. Frankly it didn’t matter how much I was making from their moneylines when I was that terrible at O/U. They were supposed to have a 1A/1B goalie tandem, but Linus Ullmark wrestled the reigns early and Swayman was injured after making just 3 starts. Ullmark was outstanding with a .935 Q1 SV% with the 2nd best Vezina odds.
 
My money lost on unders was mostly burned in the few games that Jeremy Swayman was in goal. Ullmark only went 7-7 on unders despite that outstanding goalkeeping because he was getting so much goal support. The Bruins were one of the best teams in the league -1.5 goals, except when I was making that wager.  It’s part of the reason I actually lost money when Ullmark was the starter. Technically my best Boston goalie was Keith Kinkaid, who only got the nod once while Swayman was on the shelf. Keith beat the Sabres 3-1.
 
 
25) Edmonton Oilers, (-$225):
 

While my overall Oilers outlook was positive heading into the season, when Jack Campbell struggled right away, my outlook to shift negative very quickly. One of my rules is “beware betting on good teams with unreliable goaltending”. That made me more aggressive betting Oiler opponents, but that’s also when Connor McDavid caught fire and went into beast mode. They started outscoring their defensive issues. The team hit a major snag when Evander Kane was lost to a serious injury, forcing him to miss most of the regular season.
 
Bleak though the outlook may have been, they still managed to win games here and there. They struggled stringing together consecutive wins without Kane, but they were staying in the playoff race. You might recall how badly they were playing before acquiring Kane last January, then went on a wicked heater that ended at the conference final. They managed to avoid a major losing streak after losing Kane, and pulled out wins against Florida, Tampa, and Vegas. I posted a small gain betting them to lose and a small loss when betting them to win.
 
My biggest loss occurred on their unders, which went 7-10-2. A majority of my money was invested in overs, yet somehow posted a negative balance on those bets. The problem was the goalies. Stuart Skinner recorded a .921 SV% with Campbell at a lowly .873. Skinner unders went 5-2-2, while Campbell overs went 8-2. Ergo my bet selection should have been entirely based on starting goaltender. The volatility in net made it difficult to reliably predict who would be starting when my bets were made the day before games near the opening lines.

 
26) Nashville Predators, (-$356):
 
 
One of my favorite preseason prop bets was Nashville +170 to miss the playoffs, as they would have missed last spring if not for a Vegas choke job. Multiple people came at me on Twitter disagreeing that the acquisition of Ryan McDonagh and Nino Neiderreiter made them a lock for the post-season. The Preds won their first two games against the San Jose Sharks, and jumped up to +200 to miss the playoffs. I should have doubled down as they would lose 7 of their next 8 games, dropping to -180 to miss the playoffs.
 
The irony being that I once again drafted Juuse Saros to both my fantasy teams despite my pessimism, so that losing skid became painfully apparent to me. I deserved it. Fortunately for Preds fans and my fantasy teams, the team followed up that futility by going 6-3 in their next 9. They had stopped the bleeding, but were still outside the playoff picture on American Thanksgiving (after being first place in the entire NHL on Canadian Thanksgiving). Juuse Saros stopping more pucks was a major contributing factor to the turn-around.
 
Saros finished the quarter with a .905 SV%, while back-up Kevin Lankinen (who was awful for Chicago last season) was even better with a .921. There was no consistently good option on their over/unders, with unders going 9-8-2 and posting a small gain. My algorithm recommended an even split in my investment and returned a small loss on both sides. I was able to generate a solid profit when betting Saros to lose, but was a net loser shorting Kevin Lankinen, who went 2-2 in 4 starts.
 
 
27) Anaheim Mighty Ducks, (-$685):
 

Some pundits expected Anaheim to be much improved this season, though I was not quick to buy the hype. My only expectation for this team was that John Gibson has been red-hot at the start of the last 3 seasons before collapsing later in the schedule, and I was ready to jump on Ducks +1.5 goals early. Spoiler alert: they sucked and and we knew very early. The Ducks gave up 17 goals in Gibson’s first 3 starts, so my Ducks +1.5 goals strategy was abandoned 2 games into the schedule. My sincerest apologies to anyone who took that advice.

 
The Ducks were actually among the worst teams in the league, and were tied for dead last at Thanksgiving. It wasn’t all John Gibson’s fault, as the defense in front of him yielded far too many high danger scoring chances. It would have taken a miracle on his part to perform well with so many shots coming from the slot. Though he certainly seemed to be excelling in those situations where my money was on Anaheim opponents, as I was a net loser betting both on or against Gibson. It shouldn’t have been so hard to profit from Anaheim losses.
 
Back-up Anthony Stolarz was slightly better, posting an .894 SV% to Gibson’s .891. While Gibson went 3-12, Stolarz actually went 2-2 and I pulled a nice little $400 profit from his 4 starts. Their overs went 9-9-1, but my algorithm recommended a much larger stake in higher scoring games, producing a small loss on both sides. Their road games were more likely to go over, while unders were 4-3 on home ice. The Ducks were also a much better team at home, but only played 7 games in Anaheim.

 
28) Toronto Maple Leafs, (-$846):
 

Once again the Toronto Maple Leafs find themselves dwelling in the basement region of my betting Power Rankings, with most of the damage being done by their failure to win. Once they started to struggle and Ilya Samsonov was injured, I started aggressively betting their opponents, and that’s when they decided to get hot with Erik Kallgren in goal. When they’re hot, the line prices can get very expensive, which will often nudge me towards their opposition. Unfortunately that net nudge hasn’t been profitable in recent seasons.
 
To make matters worse, they always seem to struggle the worst when I have large wagers on them to win, making me reluctant to do so, even when the going is good. They had an awful west coast road trip when I was betting them to win that amplified my pessimism (and that of Leaf nation), but they peeled off a winning streak on the other side that cost me dearly. The Samsonov injury came at the start of that hot streak, when I was motivated to aggressively wager on their opponents. That damned Erik Kallgren screwed me.
 
I lost -$1,393 in Kallgren starts and profited more than $500 with Samsonov and Murray. You could have made a nice profit betting the Leafs to lose in the first quarter, especially on the road and earlier in the schedule. They got hot in late November and started the second quarter with a winning streak. Perhaps the safest Q1 Leafs bet was unders, which went 13-5-2. I would have expected overs to perform better given the goaltending injuries, but the betting totals were set really high, never less than 6.5, and even a few 7s.
 
 
29) Vegas Golden Knights, (-$881):
 

The Vegas over/under win total before the season was 97.5, which shows oddsmakers rated them as a bubble playoff team, right around the range where you’re battling for a wildcard in the final days of the schedule. But very quickly Vegas established themselves as much, much more. Surely Robin Lehner being declared out for the season was a major contributing factor to the discounted pricing, as Logan Thompson was largely unproven, though solid in replacement of Lehner last spring. More importantly, Jack Eichel and Mark Stone were healthy.
 
I might have jumped on the Vegas bandwagon sooner had they not blown a puckline against a tired Chicago team in the second game of the season, costing me a max wager. Alex Stalock decided to be a hero, stopping 36 of 37 shots. This made me pessimistic about the Knights effectiveness, and I started betting their opponents more often, which proved to be another costly mistake. Eventually I got on the right side of the Vegas bets, but the hole that I had dug for myself was too deep to erase by the end of quarter.
 
There was an even 10-10 split between overs and unders, but they have very distinct home-road splits. Unders were 7-2 and home while overs were 8-3 on the road. For whatever reason, they both scored and allowed significantly more goals on the road, while home games averaged 3 goals less per game. Logan Thompson posted a .920 SV% while back-up Adin Hill was still decent at .909. My algorithm was outstanding in Thompson starts, going 10-3 and pulling a nice profit from both overs and unders.
 
 
30) Detroit Red Wings, (-$1,603):
 

Before my breakdown, let me share my obligatory disclaimer: as a Red Wings fan I’m vulnerable to bipolar behavior when it comes to betting their games, vulnerable to irrational swings of extreme optimism or pessimism (evidence outlined in my new book). One of my favorite prop bets was Detroit over 84.5 PTS, and at the end of Q1 they were pacing for 104. Matt Murley and the Spittin Chiclets crew also pumped up my Wings before opening night, so I was not alone in my optimism. Unbiased experts were backing up my belief.
 
Despite being right that they were going to be better, my ability to bet the correct outcome of their games was abysmal, as they dropped to dead last in my Power Rankings by week 4. I was a big loser whether betting them to win or lose. It wasn’t exactly irrational of me to make a large wager on Detroit to beat the tanking Chicago Blackhawks early in the schedule. The indomitable Matt Murley was also big on the Wings there so I don’t feel too bad, I just wish I had stayed on the Wings vs Anaheim in their next game (as Murley was).
 
The only reason the Red Wings ranked this low was because of Alex Nedeljkovic. I was a net winner when Ville Husso got the nod. Nedeljkovic went 0-4 when I bet him to win, and 2-0 when I bet him to lose. I could have improved my Detroit over/under performance by simply betting every Husso under and Nedeljkovic over, which wouldn’t have been too hard since the starter pattern was reasonably predictable. Additionally betting Husso to win and Nedeljkovic to lose is how I could have had a good Q1 betting Detroit games.
 
 
31) New York Rangers, (-$1,688):
 

The Rangers turned heads with a trip to the conference finals last spring on the back of Vezina winning goaltender Igor Shesterkin. They opened the new season with convincing victories against Tampa and Minnesota, which helped convince me the Rangers were officially entrenched in the elite tier of the NHL. I was even taking time to look up NYR Stanley Cup odds, looking for potential value. Sadly that illusion of superiority quickly vanished with back-to-back losses against San Jose and Columbus that cost me more than -$1,000 combined.
 
Losing to two struggling teams put my guard up, and diminished how much I was willing to spend for their wins. At least until they played a home game against Detroit on a back-to-back and lost 3-2, costing me nearly -$500. Those 3 games account for the bulk of my Rangers losses, as they were choking away some very winnable games. Once again they were one of the best under bets in the league, going 13-7 in the first quarter. What’s crazy is that Shesterkin unders went 8-7 while Jaroslav Halak unders went a perfect 5-0.
 
There were a few Rangers games where I executed a manual override of an under wager because Halak was the likely starter. I bet the over in every single Halak start, going 0-5. What’s strange about that is that Halak was bad, posting an .883 SV% and a 3.22 GAA. That should have translated to better overs, but the inferior goalie did not get as much goal support with the Rangers losing all 5 of his starts. I did well when betting Halak to lose, but the problem was that he had a few unexpected starts when I was betting them to win thinking it would be Igor.

 

32) Chicago Blackhawks, (-$1,984):
 

There was a point in the offseason when the thought crossed my mind that the Chicago Blackhawks might go 0-82, making them a big target of mine to short early in the schedule. They lost their first 2 games against Colorado and Vegas before pealing off a run of 4-straight victories (which cost me a lot of money). That’s when I started betting them to win more often as part of my longshot revolution, but they decided to follow up that mini-win streak by losing 5 of their next 6. That’s how they fell to last in my Power Rankings by the end of week 3.
 
There was a moment very early in the schedule when they sat second place in the division, defying all our expectations, but eventually they devolved into who we thought them to be. Soon the losses started pilling up, and the catalyst was an injury to Seth Jones. That was the missing piece that brought it all down. But even if you were aggressively betting them to lose throughout that period of futility, there was not a lot of profit to be had because the lines on their opponents were absurdly expensive. So I was still picking them to win long after it was profitable.
 
The goalie who was responsible for stealing all of my wagers on Hawk opponents was Alex Stalock, who had a respectable .913 SV% in 6 starts. Meanwhile Arvid Soderblom had a .909 SV% while Petr Mrazek (the expected #1 guy heading into the season) was all the way down at .889. I performed well when betting Soderblom and Mrazek to lose. Their overs went 10-8 while my algorithm was recommending unders far too often. The issue was a lack of consistency, as they’d have low scoring games followed by a string of high scoring games.
 

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