Sportsbetting Glossary

Circled Game: A game where the maximum bet is restricted, often due to injuries.

Futures: Bets placed on the outcome of a future event, for example betting during the NHL season on the Stanley Cup champion.

Lines: Another word for odds.

Money Line: The amount you must bet to win $100, or the amount you win if you bet $100.

Over/Under: A bet on whether the total points/goals scored by the two teams will exceed or be less than a specified number.

Parlay: A bet on 2 or more games. All selections must be correct for the parlay to win.

Pick: A game where no team or betting option is favored, the teams are evenly matched.

Point spread: The handicap that the favorite gives to the underdog to make the bet fair.

Push: A game that is tied when the point spread is factored in.

Single: A bet on a single game or event.

Spread: Another way to say point spread.

Teaser: A bet on 2 or more teams where the bettor can add or subtract points from the spread to make their bets stronger. All selections must be correct for the teaser to win.

Total: The combined number of points or goals scored by the two teams.

Sports Betting - Teasers

A teaser is like a parlay, but you can add or subtract points from the spread to make your bets stronger. This is called moving the line. Additional points are either added to the underdog or subtracted from the favorite when betting a teaser.

The odds change according to the number of points the spread is moved and the number of teams combined to form the teaser.

For example, New York might be favored by 9 points in one game and Chicago might be favored by 12 points in a second game. A 6 point teaser would adjust the Chicago point spread 6 points in the customer's favor; i.e. Chicago would now be favored by 6 points (12-6=6).

The customer might make a bet on a 6 point teaser with Chicago and New York. In this example, the customer is betting that Chicago will win by 6 points and New York will win by 3 points (9-6=3). As in the parlay, all teams must win.

Ties are often considered losing bets at many sportsbooks, not pushes, so check the rules before you bet.

Teaser bets may sound good, but the payout odds are even worse than parlays. Like parlays, teaser bets should be avoided.

Parlay

Parlay is a combined bet on two, three, four or more games. You have to win all of your picks to win your parlay. If one of your picks loses, then your whole wager is lost.If the game is a tie, postponed, incomplete, cancelled, or rescheduled for another date, your parlay is reduced to the next lowest level. That means a three team parlay with a tie becomes a two team parlay, or a two team parlay with a tie becomes a straight bet that is calculated at $10 to win $9.

Ties are considered losing bets at many sportsbooks, not pushes, so check the rules before betting.

The suface appeal of parlay bets is obvious -- a ten-team parlay pays off at 400 to 1. Typical payoffs for winning parlays are as follows:

# of games Payout 

2         2.6 to 1 

3         6 to 1 

4         11 to 1 

5         20 to 1 

6         40 to 1

7         80 to 1

8         150 to 1