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Glossary of common sports betting terms: Parlay, against the spread, money line, props explained

More sports fans than ever are wagering on their favorite teams thanks to sports betting now being legal in over 30 states. Now is the perfect time of year to try out sports betting for the first time since there are so many exciting matchups across different sports. If you haven’t checked out any online sportsbooks yet because you aren’t familiar with common sports betting terms, then you are in luck. Below we have put together a quick sports betting glossary with some of the most popular sports betting terminology so you will be able to place your first legal sports bet like a pro.

At Caesars Sportsbook, there are more ways to play than ever. In fact, if you are a new registrant who is 21+ and located in an eligible state (AZ, CO, DC, IA, IN, LA, MI, NJ, NY, TN, VA, and WV)*, you can register, deposit, and get your first bet up to $1,250 on Caesars with the code GAMEFULLC. If your bet doesn’t hit, don’t worry. Caesars will give you a single free bet credit you can use within 14 days. (Terms and conditions apply. See details here. Offer expires 11/1/2022). All told, there are plenty of ways to take advantage of your sports book deposit offer.

Sports book betting guide, glossary, terms

Before you play, make sure you know the common betting terms you’ll see. There are dozens of ways to bet on sports, and this handy sports betting guide can help you figure out what some of the most popular sports betting terminology means.

Money line: Baseball is the main focus in the sports world right now, and the most popular way to bet on it is with a money line bet. If New York is a -250 favorite, a $250 bet can return $100 if they win. If Boston is a +260 underdog, a $100 bet could return $260.

Live betting: The best way to follow your favorite baseball team this postseason is to place a live bet. Sportsbooks update outcomes as a game unfolds, so you can place bets between innings on whether the pitcher will strike out the side or whether a certain batter will hit a home run.

Prop bet: If you want to be on football but not on the final score, then a prop bet is the right betting style for you. Prop bets are placed on other outcomes throughout a game, like how many touchdown passes a quarterback will throw or how many field goals a kicker will make. The bet will have action as long as that player plays at least one snap.

Against the spread: Get into football this season by placing a spread bet. If Green Bay is listed as the 7.5-point favorite against Chicago, that side must win by eight points or more to cover the spread. Chicago can cover the spread by winning outright or losing by seven or fewer.

Push: If neither team can cover a spread, the result is called a push. If Dallas closes as a three-point favorite against Cincinnati and then wins the game 27-24, neither team covers the spread and all bets are returned.

Teaser: This is a special type of bet where you can adjust the point spread to lower the risk. If your two favorite teams are seven-point favorites and you are unsure if they will cover their spreads, you can use a six-point teaser to drop each team to a -1 favorite and only need two points to cover.

Parlay: This very popular betting style involves two or more sides in one bet. Parlays are riskier because all sides have to win for the bet to be a winner, but the reward can be much larger. If you bet $100 on a four-team parlay at 11-1 odds, that bet could win $1,100 if all four sides win.

Over-under: This is an easy way to wager on sports with high score totals, so it’s perfect if you want to bet on basketball. Sportsbooks will predict the final total of the teams’ combined points and you simply pick whether you think the final total will be over or under the sportsbook’s number.

How to get the latest Caesars Sportsbook promo code

Ready to get started? Click here to get your first bet up to $1,250 from Caesars (See details here). Remember to use the code GAMEFULLC.

Available Caesars Sportsbooks include:

Caesars Sportsbook AZ

Caesars Sportsbook CO

Caesars Sportsbook IA

Caesars Sportsbook IN

Caesars Sportsbook LA  

Caesars Sportsbook MI

Caesars Sportsbook NJ

Caesars Sportsbook NY

Caesars Sportsbook TN

Caesars Sportsbook VA

Caesars Sportsbook WV

*21+ new users only. Offer open to AZ/CO/IA/IL/IN/LA/MI/NJ/NY/TN/VA/WV. Bet amount of qualifying wager returned only if wager is settled as a loss. Paid as a single bet credit. Maximum bet credit $1,250. Bet credit must be used within 14 days of receipt. Promotion ends on 11/1/22. See Caesars.com/promos for full terms. Sports betting is void in Georgia, Hawaii, Ohio and Utah and other states where prohibited. Some prop bets are prohibited in CO, MS and TN. Know When To Stop Before You Start® Gambling Problem? IL, NJ, PA, WV: If you or someone you know has a gambling problem, crisis counseling and referral services can be accessed by calling 1-800-GAMBLER (1-800-426-2357) or WV: visit 1800gambler.net; AZ: Call 1-800-NEXT-STEP; CO, DC, NV: Call 1-800-522-4700; IN: Call 1-800-9-WITH-IT; IA: Call 1-800-BETSOFF; LA (Permit pending at Horseshoe Bossier City.): Call 1-877-770-STOP; MI: Call 1-800-270-7117; TN: Call or text TN REDLINE at 1-800-889-9789; VA: Call 1-888-532-3500. Standard text rates may apply. ©2022, Caesars. Entertainment – Gambling Problem? NY Call 877-8-HOPENY or text HOPENY (467369). Standard text rates may apply.

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