Key Takeaways

• Caesars Sportsbook offers sports wagering markets across major sports, including football, basketball, soccer, and MMA
• Sports betting odds help bettors understand potential payouts and how sportsbooks price different outcomes
• Common wager types include moneyline, point spread, totals, parlays, prop bets, futures, and live betting
• Caesars Sportsbook includes responsible gaming tools, while eligible wagers may earn Caesars Rewards Credits in participating jurisdictions

This article covers how to read sports betting odds, the main bet types you'll see, a walkthrough for placing your first bet, tips for beginner’s strategy, and bankroll basics so you can bet with confidence.

What Is Sports Betting?

Sports betting is predicting a sports outcome and risking money on that prediction with a legal sportsbook, like Caesars Sportsbook. Sportsbooks set odds in sports betting. Odds are also called the price.

Sports betting spans a wide range of fogoes across a variety of betting types, from a bet only on which team wins a game to season-long futures bets where you pick which team will win a championship. For many bet types, it comes down to the same things: picking a winner, picking a margin, or picking a number.

How to Read Sports Betting Odds

Sports betting odds tell you 2 things at the same time: which outcome is considered more likely, and how much a winning bet will pay. Caesars Sportsbook displays odds in American format by default.

American Odds

American odds use a plus (+) or minus (-) sign compared to a $100 base. A plus sign shows how much you win on a $100 bet. A minus sign shows how much you need to bet to win $100.

Favorites, Underdogs, and the Juice

The team with the minus sign is the favorite and expected to win. The team with the plus sign is the underdog. Every set of odds also includes the juice, the built-in fee a sportsbook charges for taking the bet. This is usually shown as -110, and it's used for most point spread and totals bets. You'll see it consistently once you start browsing a wagering menu

The Main Types of Sports Bets

Many sports bets are a variation of core components: picking a winner, picking a margin, picking a number, or combining multiple picks into one wager. These 7 types can cover many of the bets you’ll see on most sports.

Moneyline

A moneyline bet is a where you only pick which team wins. That's it. It’s the simplest bet in sports betting and a good place to start for a first-time bettor.

Point Spread

A point spread is a margin set by a sportsbook to account for the expected difference between 2 teams. Bettors wager on whether the favorite will win by more than the spread or the underdog will lose by less than the spread or win outright.

Totals (Over/Under)

A total, also called an Over/Under, is the combined number of points expected to be scored by both teams. Bettors wager on whether the final combined score will be higher or lower than the total set by the sportsbook.

Parlays and Round Robins

A parlay combines multiple bets into a single wager, with every leg needing to win for the parlay to pay out. A round robin automatically divides multiple selections into smaller parlays, allowing some wagers to win even if every selection doesn’t.

Prop Bets (Player, Team, and Game Props)

A prop bet, short for proposition bet, covers a specific player, team, or game event rather than the final outcome. Bettors can wager on results such as a player’s passing yards, which team scores first, and other events in a game.

Futures

A futures bet is a long-term wager on an outcome decided later in a season, such as which team will win a league championship. Odds change as the season progresses, and earlier bets may offer larger potential payouts.

Live/In-Game Betting

Live betting, also called in-game betting, lets bettors place wagers after a game has started. Odds update throughout the game based on the score, time remaining, and other events.

What to Consider Before Sports Betting

Understanding how odds, lines, and wager types work can help bettors make more informed decisions, but no strategy or research method guarantees a winning result.

• Understand how lines are set: Sportsbooks consider factors such as team performance, expected outcomes, market activity, and betting patterns. Lines may change as new information becomes available or wagering activity shifts
• Understand the difference between single bets and parlays: A single moneyline, point spread, or total generally involves 1 outcome, while every leg of a parlay generally must win for the wager to pay out
• Review the available odds and lines: Odds and lines may vary by market and change before an event begins. Confirm the current terms, odds, stake, and potential payout before placing a wager
• Learn the rules: Each sport and wager type has its own rules, odds, and settlement terms. Research and experience don’t predict or guarantee winning results

Bankroll and Responsible Betting Basics

Only wager money you can afford to lose. Never use money needed for bills, savings, debt payments, or other essential expenses.

• Set personal limits: Decide in advance how much time and money you’re comfortable spending, and don’t exceed those limits
• Keep wager amounts within your limits: Don’t increase the amount wagered in response to a previous win or loss
• Avoid chasing losses: Continuing to wager or increasing wager amounts in an attempt to recover losses can result in additional financial harm
• Use responsible gaming tools: Caesars Sportsbook offers responsible gaming options that may include deposit or spending limits, cool-off periods, and self-exclusion. Available tools vary by jurisdiction
• Get help when you need it: If betting stops feeling like entertainment, the National Council on Problem Gambling and services like 1-800-GAMBLER provide free, confidential referral services and crisis counseling

Must be 21+ to wager and physically located in a state where sports betting is legal. Know When To Stop Before You Start®. Gambling Problem? Call 1-800-GAMBLER. MA: Call 1-800-327-5050. NY: Call 877-8-HOPENY or text HOPENY (467369).