Saturday, September 23, 2023

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

If you live in one of the many states that legalized online sports betting this year, you’re probably very interested in getting in on all the fun. With football back in action this time of year, there are online sportsbook sign-up offers and online sportsbook promo codes everywhere you turn. If you’re new to legal online sports betting and not sure where to start, all it takes is learning a few key sports betting terms. Below we put together a quick and helpful sports betting guide so you can place your first wager 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: Prop bets are popular across all the major sports because they focus on outcomes other than the final score of a game. Popular prop bets include how many catches a wide receiver will have or how many strikeouts a pitcher will throw.

Against the spread: If Kansas City is listed as the 7.5-point favorite against Tampa Bay, that side must win by 8 points or more to cover the spread. Tampa Bay can cover the spread by winning outright or losing by 7 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: A teaser is a type of parlay 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 high-risk, high-reward method involves two or more sides on the same wager. A $100 bet on a four-team parlay at 11-1 odds could return $1,100 if all four sides win. But if only three sides win, the bet is a loser.

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 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; 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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