Beware the Attack Basset
I did some web searches and found the terms "in-game betting" and "live betting" ("in-play betting"). In-game is where the odds change at TV commercials and time outs and live betting is play-by-play. In any event, these bets are entirely new wagers on the game's outcome rather than being updated wagers. I'd imagine that if you're live betting, you're probably watching the odds more than you're watching the game.I remember someone was saying during the game some bets or something changed in the middle of the game .
A parlay is somewhat like a trifecta. You chose a number of winners under a single bet and every team you pick must be successful (beat the spread or win the game as is appropriate).