Many often heard the terms parlay and teasers, but didn’t always know what they meant. Well, today’s you’re lucky day because you’re about to find out what they mean.
A parlay involves multiple bets (usually up to 12) and rewards successful bettors with a large payout. For example, a bettor could include four different wagers in a four-team parlay, whereby he is wagering that all four bets will win. If any of the four bets fails to cover, the bettor loses the parlay, but if all four bets win, the bettor receives a substantially higher payout (usually 10-1 in the case of a four-teamer) than if he made the four wagers separately. In other words, if you make 3 bets on a parlay, and hit all 3 you win a lot more than just making 3 separate bets. If you don’t hit all 3 though, you’d lose the wager.
A proposition bet are wagers made on a very specific outcome of a match. Examples include guessing the number of Homeruns each team hits in a baseball game, betting whether a wide receiver in a football game will net more or less than a set amount of total yardage, or wagering that Joe Buck will say Jessica Simpson more than 7 times during a Giants/Cowboys telecast.
A teaser allows the bettor to combine his bets on two or more different games. The bettor can adjust the point spreads for the two games, but gets a lower return on the bets in the event of a win.