Point Spread

• A bet on an NBA team means you are predicting that team will "cover the spread." As Vegas.com notes, the spread is simply a "predetermined margin of points" that the team you choose needs to win or not lose by. For instance, if a sports betting line shows a negative three next to Chicago (-3) in a game against San Antonio, you only win when selecting Chicago if they beat San Antonio by four or more points. If you selected San Antonio, you win your wager if San Antonio does not lose by more than two points. If the game ends with a three-point margin, the result is a tie or "push," resulting in a refund of your original outlay.
  
  

Special Point Spreads

• Some sportsbooks offer special point spreads. The most common spread concerns the score at halftime. In this case, you are guessing that a team will cover the spread at the half. For instance, if the halftime score between Chicago and San Antonio is 36-35 and Chicago was favored by two for the halftime point spread, you win if you bet San Antonio. In the simplest terms, San Antonio received a two-point head start in the game making the "actual" halftime score from a betting woman's perspective, 37-36 in favor of San Antonio.
  
  

Over/Under

• You will see a number listed in the betting sheet under a column titled "total." This is known as the over/under. This number refers to the total combined points scored in a game. A common over/under in an NBA game is 200. If you bet the over, you win when the combined score of both teams is 201 or more points. If they score 199 points combined, you lose, unless of course, you bet the under.
  
  

Money Line

• In a money line bet you have to pick the winner without concern for a point spread. You'll see the money line number next to the teams. For example, Chicago may be listed at "-$110" and San Antonio "+$110." In this case, San Antonio is the underdog. A $100 bet on San Antonio returns $110. When betting Chicago, the favorite, you would need to wager $110 in order to return $100.
  
  

Types of Wagers

• One play--betting a team or a total--is a straight bet. Most sportsbooks allow several plays on one ticket. This is a parlay. While odds on parlays vary from casino to casino, Vegas.com notes the typical return for every dollar risked on a four-team parlay is $11. A more complicated type of wager is a teaser. Vegas.com explains that in return for reduced odds, teaser bets allow you to subtract points from a favorite and add points to an underdog when betting against the point spread.