Glossary of common sports betting terms: Parlay, against the spread, and teaser explained

With sports betting now legal in 30 states and counting, it is the perfect time to check out the latest Caesars Sportsbook promo code for yourself. If you’re new to sports betting and are unfamiliar with how it works, it can be a little overwhelming to learn the popular sports betting terms and know which part of a sports betting guide goes with which sport. What’s the best way to bet on pro football? How is an outright bet different from a prop bet? What happens if you want to place a bet after a game has already started? Sports betting apps make learning the ins and outs of online sports betting very user-friendly. Before long, you will be placing outright, futures and live bets without thinking twice about it.

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 a risk-free bet up to $1,500 with the code GAME15C. 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 8/1/2022). 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.

Against the spread: The most common form of sports betting, the spread is designed to level the playing field in a game between two teams that might not be evenly matched. If Chicago is listed as the -7 favorite against Arizona, that means that Chicago has to win by eight points or more for anyone who wagers on it to successfully cash their bet. If Chicago wins by exactly seven, the bet results in a push and you get your money back. If Arizona were to lose by six points or less, any wagers on Chicago would result in a loss and wagers on Arizona would result in a win.

Parlay: A parlay is when you string together multiple picks to enhance the odds and improve the overall payout. For each pick you add to your parlay, the odds will be adjusted and if you successfully predict the outcomes then you can win big. A parlay of Detroit +6, Indiana -4 and Denver -5.5 means that Detroit would have to lose by less than six while Indiana would have to win by five or more and Denver would have to win by six or more. Assuming standard -110 payouts, a three-way parlay of that nature would pay out at nearly 6-1.

Teaser: This method pays lower odds than a parlay, but remains popular because handicappers still find them profitable. If you don’t love a particular spread or spreads being offered, a teaser allows you to buy a certain amount of points in either direction to increase the likelihood of you hitting your bet. Let’s say you believe two seven-point favorites will win their games outright but you are unsure whether they can cover the touchdown spread. Using a six-point teaser would reduce each team to a -1 favorite, meaning they only have to win by two points. This reduces the payout but deployed correctly, it can be a profitable strategy.

Outright: If you are looking to place a simple wager to start off with, an outright bet is perfect for you. With this betting style, you pick which athlete will win an entire sporting event and then place your wager. This is a popular way to bet on elite golf tournaments and car races, which are both in full season this time of year.

Futures: Football is one of the most popular sports to bet on, even during its offseason. You can bet on football before the season even starts with a futures bet, which can be on anything from whether you think your favorite team will defeat a hated rival to which player you think will win the MVP award. You can even wager on which team you think will win their division.

Live betting: You don’t have to stop betting on a game just because it started. Sportsbooks adjust odds for in-game outcomes in real-time, so you can wager throughout a sporting event. If a pitcher gets off to a great start, you can bet in between innings on how many strikeouts he will get or how deep he will pitch into the game.

How to get the latest Caesars Sportsbook promo code

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