The professional hockey career of Bill Hogaboam began in 1970-71 as a member of the Omaha Knights, as he played in 63 games, scoring 12 goals and 30 points. The following year in Omaha he greatly improved his offensive output, scoring 30 goals and 82 points.
In 1972-73, Hogaboam played two games in the NHL with the expansion Atlanta Flames, but the majority of his season was played in Virginia of the AHL. In 1972-73, he played four games with the Detroit Red Wings, but it was in 1973-74 that he had the opportunity to play more, appearing in 47 games, scoring 18 goals and 41 points. It was that production which saw him inserted into the Wings' lineup for 60 games the following year, but his production did not increase.
Late in the 1975-76 season, Hogaboam was sent to the Minnesota North Stars where he was named the team's captain the next year and scored 25 points. After another two years in the Stars' organization, Hogaboam was sent back to the Detroit Red Wings, where most of his playing time was spent in the minors. In 1982-83, Hogaboam played his final pro season with the Adirondack Red Wings of the AHL.