Glossary of common sports betting terms: Parlay, against the spread, money line, prop bet explained – CBS Sports

Online sports betting is now legal in more than 30 states and more sports fans than ever will wager on their favorite teams. Pro baseball gets ready for the postseason while football, basketball and hockey all get their new seasons underway. With more opportunities than ever to try out legal sports betting, it's important to know some basic sports betting terms and sports betting lingo. To get you prepped for placing your first wager, we have put together a quick and helpful guide so you can 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 Caesarswith 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.

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: You haven't missed the chance to place a bet if a game has already started. Sportsbooks adjust certain odds as a game unfolds so you can place your bets in real-time. You can even wager on the outcome of the next at-bat in a big baseball game.

Prop bet: Try placing a prop bet if you're looking to wager on something other than the final score of a game. Popular prop bets across the major sports include how many strikeouts a pitcher throws and how many rebounds a basketball player tallies.

Against the spread: Gear up for football season by learning how to place a spread bet. If New York is a 7.5-point favorite against New England, that side must win by eight points or more to cover the spread. New England can cover the spread by winning outright or losing by seven points or fewer.

Outright: This is the easiest betting method and can be used across all major sports because it requires you to pick one player to win an entire sporting event. Outright bets are very popular when wagering on pro golf, which has a major tournament this weekend.

Parlay: With a parlay bet, you can wager on multiple teams and even on multiple sports with one bet. This betting style is risky because all sides have to win or else the bet is a loser. But if all sides win, the reward is much higher.

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.

Push:This is when neither team can cover the spread because there is a tie. If Kansas City closes as a three-point favorite against Las Vegas and wins the game 27-24, neither team covers the spread and all bets are returned.

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.

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.

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*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 $1,500. 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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Glossary of common sports betting terms: Parlay, against the spread, money line, prop bet explained - CBS Sports