A parlay is a bet that combines two or more outcomes that are available to bet on separately. If all of the outcomes you choose turn out to be correct, then you win the bet. If even one of those outcomes turns out to be wrong, you lose the bet. It is an all or nothing proposition. You can successfully pick the first five games right on a 6-team parlay card, but if you get the final one wrong, you lose. Whether you lose the first or last game on your card makes no difference. In order to hit the payout, you have to get every outcome right.
A moneyline is a set of sports betting odds in which you bet on one side to simply win outright. There are negative and positive numbers when it comes to moneylines. It’s possible that both teams could have a negative number, but that is more the exception than the rule. Most of the time one team will have a negative number and one team will have a plus sign in front of their number. The team with the (-) is the favorite in that case and the team with the (+) is the underdog.
When you bet the point spread, you are betting on the margin in victory. Just like moneylines, a minus sign (-) means that team is the favorite. A plus sign (+) means that the team is the underdog. For example, you are betting on a basketball game. One team is -5 and the other is +5. The team that is -5 is the favorite. This means that either team must win by at least 5 points in order to cover the spread. The team that is +5 is more valuable because they are the underdog.
The over/under is based on the total number of points, runs, goals, etc. For example, you are betting on a baseball game and the O/U is 9. You can either bet over 9 total runs or under 9 total runs. If you bet the over, both teams have to combine for over 9 runs. If you bet the under, both teams have to combine for under 9 runs.
Live in-game betting gives you the opportunity to bet live when games are in action. At any point during any sporting event the books will calculate the potential chance of an event happening and then offer odds on that outcome. They will recalculate those probabilities over and over again with adjustments made for positive and negative occurrences on the preceding play. Sometimes the last play does not change the price being offered. Other times it could be a drastic change. For example, the odds will move massively in the direction of the defense that just recorded a pick six on the previous play. It might move very little when it goes from a 3-0 to a 3-1 count in baseball.