Sports betting is essentially predicting the result of a certain sporting event and then placing a bet on the outcome. It is usually done through a bookmaker or an internet sports betting site. Types of Bets There are several types of bets aside from simple wagers made on the outcome of a sporting event. Here are some of them: Proposition Bets – proposition bets involve wagering on a very specific result of a match. An example of this is guessing the number of goals each team will make in a football match or wagering whether a player will score in an NHL game. Parlays – parlays involve several bets (generally up to 12). The successful bettor will then be rewarded a large payout. An example of this is when a bettor includes 4 different bets in a 4-team parlay and he is wagering that all 4 will win. If all 4 bets win, he gets a much higher payout than if he made 4 separate bets. If any of the 4 bets fail to cover, he loses the parlay. Progressive Parlays – just like in a normal parlay, a progressive parlay also involves multiple bets (up to 12), and rewards winning bettors with a large payout, but smaller than normal parlays. However, in a progressive parlay, a reduced payout is still given to a bettor even if he loses some of his bets. Teasers – a teaser lets a better combine his wagers on two or more different games and adjust the point spreads for two games. however, he must get all the games correct in order to win and recognize a lower return in comparison to parlays.