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While the payout goes up, odds of winning get worse with each team added to a parlay ticket. Combos are "all or nothing" bets, as winning three games on a four-team team combo doesn't earn a return. Parlay bets are extremely popular with NFL and NCAA football bettors. Parlay bets for football combine multiple straight bets, meaning the point spread is used.

There are a lot of slang terms, acronyms and unique terms associated with betting on horses. The list below includes the key definitions to get you started. Sites place the bet slip to the right (or via a pop-up message).

Place Bet – This is a bet that you can place on a horse to finish 2nd in a race. The amount of your return is again based on the odds of each individual horse. In order to win this bet, your horse must come in 1st or second place in the race.

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