Puck line
Ice hockey's fixed 1.5-goal handicap: the favourite must win by two or more, the underdog covers by winning or losing by one.
The puck line is the NHL form of a point spread, almost always set at 1.5 goals. It is a close cousin of the half-goal lines in Asian handicap markets: no push is possible, and the favourite at -1.5 needs a margin of at least two.
A structural quirk
Regular-season NHL games tied after 60 minutes go to a five-minute sudden-death overtime and then a shootout, and a shootout win is recorded as one extra goal. Either way, every game that goes past regulation ends with a margin of exactly one. Puck lines that include overtime therefore pay +1.5 and lose -1.5 in all of those games, which is part of why the favourite's side is priced at plus money.
The maths
Illustrative prices: favourite moneyline 1.55, favourite -1.5 at 2.40.
- Moneyline implied probability: 1/1.55 = 64.5%.
- -1.5 implied probability: 1/2.40 = 41.7%.
- The difference, about 22.8 points, is roughly what the market thinks the chance is that the favourite wins by exactly one goal (both figures still include margin).
A $50 stake at 2.40 returns $120 if the favourite wins 4-2, nothing if it wins 3-2 in regulation or in overtime.
Practical note
Empty-net goals inflate two-goal margins late in games, so the last two minutes carry a lot of weight in this market. Always confirm whether the line is graded including overtime; some books also list regulation-only versions at different prices.