How do I get 100 Caesars tier points?

I am among a group of mostly non-gamblers who have attained Caesars status through credit cards and hotel status matching. But to unlock one of the benefits, we have to earn 100 tier credits. So assuming we were willing to take a guaranteed loss by betting on both sides of the same game, what's the best bet at the sportsbook? The highest expected value would be nice, but mostly we're interested in the lowest guaranteed loss.

Any thoughts?

If you bet on both sides of a football or basketball game, you would be betting 22 "units" and would receive 21 "units" back on the bet that you won. So, for instance, you bet $110 on each side, total $220, you get back $210. A net loss of 4.54%. That is generally the smallest -EV you can get.

If you bet baseball or hockey, the lines would probably not be -110, so the house percentage would vary, but it generally would be in the neighborhood of 5% of your action. I don't know that much about hockey lines, but I do know that in baseball. favorites are generally slightly better bets than underdogs and short-odds bets are generally better than long-odds bets.

In general, if you do a "hedge" combination bet (which is what you're contemplating), your expected value is the same as your "guaranteed loss."--in that every possible result leads to the same $$ outcome.

HOWEVER---one caveat. Your best possible outcome would be a push--like you bet on both sides of the Flaming Wolverines -3 points vs. the Toilet Tissue Tigers, and the Wolverines win by exactly 3. That way, both your bets would be refunded, and you'd get credit for them without having to absorb any attendant loss.

Therefore, don't bet your hedge on a line that is x.5 (like -3.5) points (which would prevent a tie).

You can also look for a situation to bet both sides of a player prop to try to cash a middle. Last football season, almost all of my NFL bets were player props. The best middle I found all year was a 30-yd difference in rushing totals between two sports books. I bet the over at one book and the under at the other, cashing both bets. And even if you only cash one, you're still no worse off than betting both sides of a game. 

MisterPicture is looking for 100 Tier points with as minimal investment as possible.  Do sports bets earn Tier points very quickly?  I'm guessing not, but I've never done sports betting.  Slot play earns Tier points the most quickly.  Watch the meter.

Also know this: in case you have Free Play to use on your trip, no points are earned during Free Play anywhere.  JMHO.  Hope you get it.

Candy

Can you explain what the benefit is?  I am interested as i have also attained status with Ceasars this way.

Sure. The $100 food comp requires at least 100 tier credits for those who matched rather than earned Caesars status, presumably through the Barclays Wyndham Business Earner card.

Unless you happen to hit a 5X or more Tier point earning day (do they have this in Vegas?), that food comp will likely cost your non-gambling companions way more than $100 to earn the points. 

Obviously, the least expensive way to get to the 100 tier credits would be to competently play their 9/6 JoB video poker because I think the $1,000 coin-in would have an expected value of minus five dollars. But I'm talking about mostly non-gamblers who wouldn't consider playing video poker at $25 per hand.

The rate of credits when playing the sportsbook is this: "Earn 1 Tier Credit for every $5 of potential profit on sports bets placed. Tier Credits will be accrued upon bet settlement. Earning maximum is 2 Tier Credits for every $1 wagered."

So on average, how much would have to be wagered at the book to get the credits? And which games would be the best for minimizing potential losses.

The way I read this, they're awarding more TCs for bets that pay more than even money if they win. So let's say you bet a money line at +200; you would earn twice as many TCs as you would if you bet the same amount on an even-money proposition.

The problem, of course, is that it's unclear if they award fractional TCs. If you bet $5 at, say, +140, that's $7 of potential profit. So do they give you 1.4 TCs? You can avoid this problem by making bets that will pay off in multiples of $5.

Let's look at it the other way around. How much would you have to bet to earn 1000 TCs? By their metric, you'd have to be earning a potential profit of $5000. The simplest way to do that would be to bet $5500 on one side of a football or basketball game that had a price of -110 (as they usually do), or, if you want to hedge, bet $2750 on each side. In either case, your expected value is (-04.76) ($5500), or -$261.80.

The house edge for other types of sports bets is either roughly equal to this or considerably worse. So, this is the best you can do. You can extrapolate the above figures to calculate that in order to earn 5000 TCs, which you need to reach Platinum, the first meaningful level, you'll have to lose, on average, $1309.

The bad news: Platinum doesn't get you shit. The good news: earning 5,000 TCs in one day gets you a 10,000 TC bonus, or "Diamond in a Day." So, $1309 to get resort fees waived and other perks. Now, you'll have to get that done after the fact; talk to a host before you check out and have them evaluate your play.

Side note: any not-horrible video poker needs $20 coin-in to earn one TC, so if you can find such a game with less than a (.0476) (..25) house edge, or -1.19%, video poker would be the cheaper way to do it. The only such game you have a prayer of finding in CET properties in Vegas is high-denom 8/5 Bonus Poker.

I just reread your OP and realized that you were asking about earning specifically 100 TCs. Based on my (somewhat superfluous) calculations, you can do a pair of -110 hedge bets, at $275 each, incur a loss of $26.18, and earn your 100 TCs.