Sometimes called a parlay. A bet where the winnings from one bet are placed on the next bet. The winnings accumulate, giving a large theoretical return. In reality, not very profitable as it only takes one to lose and your whole bet loses.

A combination of bets which guarantees a theoretical risk free profit. These sometimes occur when one bookie offers a price which is out of line with the rest of the market. Opportunities don’t last long as the bookie will adjust their prices accordingly.

Asian Handicap.
A type of bet where one team is given a handicap make the odds of beating the handicap around evens and the odds of not beating the handicap around evens. Popular in Asia.

A bet that is highly likely to win. Odds are usually less than 1.5 for these types of bets.

Betting Exchange.
A place where people bet against each other. The exchange takes a commission from each winning trade.

Book Value.
The over round that a bookie builds into the odds. For example a typical football match will be booked to 110% meaning that if you bet on all outcomes you’d lose about 10%. Very similar to payout which is defined as 100/book value. To work out book value simply use this formula, Book Value = 1/outcome1_odds + 1/outcome2_odds + …

Bookmaker, bookie.
The person who accepts a bet.

Decimal odds.
The odds expressed as a decimal, with the stake included in the overall price. For example decimal odds of 3 equals fractional odds of 2/1, as the stake is included in the former but not the latter.

An accumulator with 2 bets. 슈어맨 

Double chance.
A bet that is offered on the 3 way market where you bet on 2 outcomes. For example you might bet on the home win or draw. Odds are usually very poor but you are much more likely to win the bet.

Draw no bet.
A bet where the draw returns your stake. This is exactly the same as a +0 Asian Handicap.