By Dave Antony – CFO, SCCG
The NHL is in its strongest position in years. Ratings are climbing. Talent is deeper than ever. And the league’s expansion track record—Vegas and Seattle—has not only reinvigorated fan interest but also proven that new markets can be instant winners on and off the ice. So, the question isn’t if the NHL should expand again. It’s where—and what that means for the broader sports ecosystem.
For sportsbooks, broadcasters, and marketers, NHL expansion isn’t just a hockey story—it’s a business catalyst. Each new team means more games, more bets, and more market activation. So where might the league go next, and why should the sports betting industry care?
New Cities = New Bettors
Every NHL expansion introduces an untapped fan base to the world of pro hockey. But for sportsbooks, it’s about more than just fans—it’s about bettors. And that’s where the real upside lives.
Take Houston. As the fourth-largest city in the U.S., it’s a sleeping giant in the hockey world. There’s no NHL team yet, but the infrastructure and fan appetite are there. Add a team, and you immediately open one of the country’s biggest metro areas to fresh hockey fandom—and betting handle.
Or Phoenix, where the Coyotes’ move to Salt Lake City was less of an end and more of a pause. NHL Commissioner Gary Bettman has made it clear: a return to Arizona is on the table once a viable arena exists. For sportsbooks already operating in the state, that’s a golden ticket for acquisition, loyalty programs, and hyper-local betting campaigns.
Canadian Expansion Means Cultural Buy-In
North of the border, cities like Quebec City, Kitchener, and a second team in Toronto all represent a different opportunity: deep cultural engagement. Canadians already punch above their weight in hockey fandom. Adding a new team in any of these cities doesn’t just expand the league—it strengthens the base.
More importantly, these cities would likely activate very high per-capita engagement in betting markets. Toronto, in particular, already has robust sportsbook penetration due to Ontario’s regulated iGaming framework. A second team would double down on local rivalries and boost in-game betting.
Betting + Broadcasting = Big Business
When Seattle entered the league in 2021, sportsbooks jumped in with expansion markets—first goal, first playoff berth, rookie awards, etc. A similar explosion of prop bets and future markets is expected with every new franchise.
That’s good news for:
- Broadcasters, who can monetize betting-focused shoulder programming
- Streaming platforms, who get more live rights inventory
- Brands, who can launch targeted, geography-specific partnerships as new fandoms form
Sleeper Markets That Could Wake Up Fast
Some cities aren’t obvious NHL destinations, but make perfect sense when viewed through the sports business lens:
- San Diego has lost two major teams but remains the second-largest city in California without an NHL presence.
- Indianapolis quietly boasts more people than Denver or Nashville and has a growing sports betting market.
- Baltimore is part of the third-largest CSA (Combined Statistical Area) in the U.S. and has successfully shared NFL and MLB fandom with Washington, D.C.
- Milwaukee feels tailor-made for hockey. Cold winters, passionate sports fans, and an underserved hockey base.
Maximizing Revenue Opportunities in Sports
These markets might not be first on the NHL’s list, but they’re prime candidates for high betting engagement per capita—especially when you factor in adjacent college sports loyalty and multi-sport city infrastructure.
The Future of the NHL—and the Future of Betting—Are Intertwined
As the NHL eyes cities like Kansas City, Portland, and even a return to Atlanta, one thing is clear: expansion isn’t just about filling out the map. It’s about expanding revenue, fandom, and real-time engagement.
For sportsbooks, the implications are massive:
- New teams = new bettors
- New cities = new promotions and boosts
- New rivalries = new storylines that drive betting volume
The NHL isn’t just growing the game—it’s creating the next battleground for acquisition, loyalty, and fan monetization in the sports betting industry.
