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Betting on the underdog produces a much higher payout, but your chances of winning are smaller. One thing to keep in mind is that the negative and the positive numbers correspond to the opposite of what you would think. The favorite has a negative number, and the underdog has a positive number. Also, the higher the number for the favorite, the more likely they are to win, and the lower the payout will be.
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This will usually be part of a promotion that will be triggered when one of your selections lets you down this. This is one of the things we talk about first because it is such a popular way to bet on a variety of games, but many people waste their bankroll on them. For just a few dollars, someone could conceivably win as much as a million dollars or more, but that thrill is why most people lose their money when betting on parlays.