I wanted to know if it is wise to factor overtime into NHL totals. In my model, I use first 60 minutes to determine totals, but NHL, compared to other major sports, has significantly more overtimes.
NHL games go to overtime about 24% of the time, and in overtime, there is going to be a guaranteed one goal score. Another thing about over time is that it is for the most part, a 50-50 proposition, even when you have a very good team vs. a very bad team (shootout is even closer to 50-50 than regular overtime). So if overtime is factored, would I then input: 1 Goal X (0.24) = 0.24, then add that to the totals for the first 60 minutes? I see that when comparing the 1st 60 minutes to the whole game, the sportsbook gives higher juice to the favorite in the first 60 minutes, and lowers the juice for the whole game. I'm assuming they at least factor overtime in when determining who will win.
Edit: Another thing about overtime is that the lower the totals, and the more evenly matched the teams, the higher probability of overtime, so overtime would probably have more weight in a supposed low score evenly matched game, compared to a high score uneven matched game.