A parlay is a single bet that links two or more wagers; to win the bet, the player must win all the wagers in the parlay. If the player loses one wager, he loses the entire bet. However, if the player wins all the wagers in the parlay, the player wins a higher payoff than if the player had placed the bets separately.
A straight bet is an individual wager on a game or event that will be determined by a pointspread or money line.
A teaser is a type of football or basketball wager in which the pointspread is adjusted by additional points in the player’s favor on more than one game. In football, a player may move the posted pointspread 6, 6.5, 7, 10 or 14 points (10 and 14 point teasers ties lose). In basketball, 4, 5 and 6-point sports betting teasers are offered.
The most popular sports bets are based on the point spread. The point spread represents the margin of points in which the favored team must win the game by to “cover the spread.” Bets on the point spread are usually offered at 11 to 10 odds. For example, a player must bet $11 to win $10 for a total payout of $21 or $110 to win $100.
The money line represents the odds of a team winning the game outright without the use of the pointspread. The money line is expressed as a 3-digit number. For example -150 means a player must bet $150 for every $100 he wishes to win, $15 for every $10 and multiples thereof.