You may be familiar with the sporting terms ‘tease’ and ‘parlay’ and how they are used in relation to gambling. These words have been in existence for more than 100 years and were first used in the horse-racing industry. However, even if you’re not a big sports fan, you may well have come across them when playing online roulette or slots, where they are often used as a way of describing different bets you can make.
Confused about what these words mean and how they differ? Don’t worry, here’s a simple guide that’ll clear everything up.
The Meaning Of Tease
In most cases, ‘tease’ will be used in reference to a type of bet that involves guessing or estimating the outcome of a sporting event. For example, if you were to stake £10 on Arsenal to beat Bayern Munich in a football match, you’d be placing a teal bet (this is also known as a ‘tote’ or ‘collector’s bet’), because you’re not actually seeing the outcome of the game. Even if Bayern Munich scores an equaliser and the match ends in a draw, you’d still win your bet, as long as Arsenal score more goals than Munich during the match. If they scored the same number of goals, you’d lose.
Teal bets are generally favoured among gamblers, as they allow for more flexibility in terms of when you can potentially win or lose money. The major drawback to teal bets is that they are more difficult to rig, as you usually have to rely on accurate predictions on both the part of the players and the bookmakers. In the world of horse-racing, a teal bet would be equivalent to a ‘place bet’, where you are putting your money on an event that you are not directly participating in. This is in contrast to a ‘show’ or ‘tournament’ bet, where you are actually watching the game or event you have wagered on.
Parlay
‘Parlay’ is used in relation to a type of bet where you are staking on a number of games or events that you believe will come together in order to form a single winner. For example, if you were to stake £10 on Arsenal to win the Premier League, you’d be placing a parlay bet because winning the Premier League is essentially the outcome of several matches, including the match between Arsenal and Bayern Munich. If Arsenal do win the Premier League, it would be a multiple-match victory, which is why the bet is also known as a ‘multi-race bet’ or ‘multi-game bet’ (collectively, these types of bets are known as ‘multiple bets’).
The advantage of parlay bets is that they are often easier to win. In other words, you are more likely to achieve your goal if you choose to place a parlay bet. The drawback is that they are usually more expensive to place, as you will need to commit money to cover multiple events. For example, if you were to place a £10 parlay bet on Arsenal to win the Premier League, you would also need to stake £10 on Bayern Munich to win the match between those two teams. If you lose the £10 on Arsenal, you will still have £10 to play with on Bayern Munich, as the two bets are linked. You can’t lose money on a parlay bet, as long as at least one of the events you selected results in a win, even if that win is in relation to a different bet than the one you originally placed.
Both Words Mean The Same Thing
Although traditionally used in relation to horse-racing, ‘tease’ and ‘parlay’ are often used interchangeably in the world of sports betting. In fact, many people consider ‘tease’ to be the grandfather of all betting phrases, as it was first used in relation to horse-racing in the late 1800s. ‘Tease’ and ‘parlay’ are essentially synonyms and can be used to reference the same type of bet. The only difference is that ‘tease’ is more often used in the UK, while ‘parlay’ is more common in North America, where the gambling industry is bigger.
All three phrases—tease, parlay, and multi-bet—can be used to reference the same type of bet. The major differentiator is how you are supposed to win or place the bet. With a teal bet, you are placing a wager on an outcome you do not know or have any idea of. You are essentially playing the odds, as you neither intend to participate in nor are you directly watching the events that will form the basis of your bet.
With a parlay bet, you are committing money to multiple events, with the intention of ultimately making a profit. You are selecting games or sports that you believe will be successful and hoping that the events come together in the way you think they will. The advantage of a parlay bet is that it allows you to gain some degree of control over how you are performing financially, as you can select the types of sports and events you want to bet on. You can also vary your stake according to how much you are being paid per day by the bookmaker. The disadvantage is that you need to commit money to multiple events, which can make the bet more expensive to place than a teal bet.
Finally, with a multi-bet, you are committing money to as many different events as you want. For example, if you wanted to place a £10 multi-bet on Ajax to win the Champions League, you would need to stake £10 on Bayern Munich to win the Bundesliga match and £10 on Juventus to win the Italian Cup (this is also known as a ‘triple-bet’). If any of those three events result in a win, you would win the multi-bet. If any of them result in a loss, you would lose your money on the multi-bet. The advantage of a multi-bet is that you can place as many different bets as you like, using the same money. The disadvantage is that you need to commit a lot of money, which makes it more expensive to place than a parlay bet. For example, a £10 multi-bet on Ajax to win the Champions League would cost you £37, as you would need to stake £10 on Bayern Munich, £10 on Juventus, and £7 on CSKA Moscow to succeed in your multi-bet. If any of those four events result in a win, you would win £37 in total, as opposed to winning £10 on your first three events, as you would with a parlay bet.
In short, a teal bet is used when there is no certainty about the outcome of a single bet. A parlay bet is used when there is uncertainty about the outcome of several bets. Finally, a multi-bet is used when there is uncertainty about the outcomes of many bets. Even if you’re not a big fan of sports betting, you may well have heard of these words and how they are used, as they are frequently used in conjunction with one another.