Glossary and terminology

• Accumulator – A single bet that links together two or more individual wagers and is dependent on all of those wagers winning together. Also called a Parlay

• Arbitrage – A series of simultaneous bets that lock in a profit, whatever the outcome of the event. For a more detailed explanation click here

• Asian handicap – A type of bet where a head start (or deficit) is assigned in order to offset the abilities of competitors in order to equalize their chances of winning .For a more detailed explanation click here

• Back – A bet on something to happen. For a more detail explanation click here

• Bookie - A person registered and licensed by the controlling body to accepts and pays off bets with the public

• Bookmaker - An establishment or person that accepts wagers on sports

• Check – A poker play where, if no one has opened the betting, a player declines to make a bet

• Continuation bet - A follow-up bet made by a player who lead the betting on a previous betting round

• Donkey - A player that is continuously playing bad poker. Also know as a "Donk" or a "Fish".

• Double – A single bet that links together two individual wagers and is dependent on both wagers winning.

• Dutch book - set of odds and bets which guarantees a profit, regardless of the outcome of the gamble. It is associated with probabilities implied by the odds not being coherent.

• Dutching – a method of mathematically staking several selections on the same event, and providing you’ve selected the winner, each selection returns the same profit. For a more detailed explanation click here

• Fish - A player that is continuously playing bad poker. Also know as a "Donk" or a "Donkey".

• Flutter – Used to describe a small bet. “I’ll have a flutter on today’s game”

• Fold – A poker play, where a player discards their hand and forfeit interest in the current pot.

• Forecast – A bet where you predict the first and second finisher of an event.

• Heinz – A single bet that links together 57 individual wagers involving 6 different selections. The bet includes 15 doubles, 20 trebles, 15 fourfolds, 6 fivefolds and an accumulator

• Lay – A bet on something not to happen. For a more detailed explanation click here

• Lucky 15 – A single bet that links together 15 individual wagers involving 4 different selections. The bet includes 4 singles, 6 doubles, 4 trebles, and 1 fourfold. If only one horse wins, as a consolation, returns are paid at double the odds. If all four selections win, a bonus of 10% is added to total returns.

• Pari-mutuel – A system of betting on races, whereby the winners divide the total amount bet, after deducting management expenses, in proportion to the sums they have wagered individually.

• Parlay - A single bet that links together two or more individual wagers and is dependent on all of those wagers winning together. Also called an Accumulator

• Check-Raise – A common deceptive poker play where a player checks when the betting first arrives hoping someone else will open. Then, when the betting comes back round, the player raises the current bet.