Internet Betting – NHL Lays Down the Law to the Devils

The New Jersey Devils are one of the Internet betting favorites to win the Stanley Cup but they took a hit on Monday as the NHL handed down some penalties for the Ilya Kovalchuk signing.

You may remember in online betting news that the Devils signed Kovalchuk to a huge $100 million dollar deal.  The NHL said that the Devils circumvented the league’s salary cap with the contract so they fined the Devils $3 million dollars and they took away two high draft picks.

Devils in the Penalty Box – The Devils were really harshly penalized by the NHL. Commissioner Gary Bettman handed out what is probably the harshest salary cap violation penalty ever.  Losing $3 million is bad enough but losing a first round and a third round pick in the NHL Draft really hurts.  The Devils will lose that third-round pick next season and they will have to give up their first round pick in one of the next four years.

Devils Claim they are Innocent – New Jersey president and chief executive Lou Lamoriello has said that the team didn’t break the rules.  The NHL definitely disagreed.  There is no question that New Jersey tried to get around the salary cap and they are now paying the price for their tactics.

The Bottom Line – The problem for the Devils is that they tried to get around the NHL’s salary cap rules.  New Jersey signed Kovalchuk to a long deal that will go far beyond when Kovalchuk actually plays. The Devils will pay Kovalchuk just $550,000 in each of the last six years.

Kovalchuk has 338 goals and 304 assists in 642 career NHL games. Last season he had 41 goals and 44 assists as he split time between Atlanta and New Jersey.

New Jersey 13-1 at SBG – The Devils are 13-1 in Internet betting to win the Stanley Cup this season.  With so much football going on it is easy to forget that the NHL season is just around the corner. New Jersey is a definite threat to win the title this season.  They actually finished at the top of the Atlantic Division last season and they have a Hall of Fame goalie in Martin Brodeur and a lot of talent in addition to Kovalchuk.