Glossary of Common Sports Betting Terms: Parlay, Versus Spread, Teaser Explained

Sports betting is already legal in 30 states, and more laws are on the ballot as several states look to join the party. With millions being exposed to online sports betting for the first time and sports betting heavily advertised, you’ve probably heard a lot of sports betting terms on TV, online and on the radio that you’re not familiar with. There are dozens of ways to play, and if you’re new to sports betting terminology, it can seem daunting. With apps that make betting easy and with some basic help, it’s easy to have fun and possibly even win some money with common sports betting terms like parlays, spread bets, and pranks.

There are more ways to play than ever before at Caesars Sportsbook. 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 of up to $1500 with the code GAME15C. If your bet doesn’t hit, don’t worry. Caesars will give you one free bet credit that you can use within 14 days. (Terms and conditions apply. See details here. Offer expires 8/1/2022). Overall, there are many ways to take advantage of your sports betting deposit offer.

Sports betting betting guide, glossary, terms

Before playing, make sure you know the general betting terms you will see. There are dozens of ways to bet on sports and this handy guide to sports betting can help you understand what some of the most popular sports betting terms mean.

Against the spread: The most common form of sports betting, the spread is designed to level the playing field in a match between two teams that may not be evenly matched. If Chicago is listed as a -7 favorite against Arizona, that means Chicago needs to win by eight points or more in order for anyone who bet on them to successfully cash out their bet. If Chicago wins by exactly seven, the bet flips and you get your money back. If Arizona loses by six points or less, any bets on Chicago will result in a loss and bets on Arizona will result in a win.

Parlay: A parlay is when you string several picks together to improve the odds and improve the overall payout. For each selection you add to your parlay, the odds will be adjusted and if you successfully predict the results, you can win big. Parley of Detroit +6, Indiana -4 and Denver -5.5 means Detroit would need to lose by less than six, while Indiana would need to win by five or more and Denver would need to win by six or more. Assuming standard payouts of -110, a three-way payout of this nature would pay almost 6-1.

Teaser: This method pays lower odds than the parlay, but remains popular because handicappers still find it profitable. If you don’t like a particular spread or spreads that are on offer, the teaser allows you to buy a certain amount of points in either direction to increase the likelihood of winning your bet. Let’s say you believe two seven-point favorites will win their games outright, but you’re not sure if they can cover the touchdown spread. Using a six-point teaser would drop each team to -1 favorites, meaning they only have to win by two points. This reduces the payout, but used correctly, it can be a profitable strategy.

How to get the latest Caesars Sportsbook promo code

Ready to get started? Click here to get your risk free bet up to $1500 from Caesars (See details here). Don’t forget to use the code GAME15C.

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