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Point spread (or "side"): The most familiar bet in sports is betting on one team with the point spread. 5 over the New York Giants, that means the Cowboys have to win by 7 or more to win your bet. If the Giants lose by 6 or fewer, or win outright, you win. If you bet on a team to win by 3 points and they win by 3, that's a "push" and you get your bet back. Over/under (or "total"): This is probably the second-most familiar bet, and it's a common one for all team sports, or even for how many rounds a boxing or MMA fight will go. Most point spread and over/under bets are -110 odds.

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