Glossary and definitions of concepts in sports betting of Chumba casino
Gambling: The definition of gambling refers to risking a certain amount of money in the belief that an event will have a specific outcome. The risky figure is recovered with a respective gain, at the expense of the participants who have lost or who did not hit the forecast. Across the Board: Betting method in a horse or greyhound race. It is charged if the chosen contestant finishes in the first three places. Use the results of previous bets to prevent future results
Cancellation: When the amount of the bet is returned to the user's account due to the suspension of the event. The most common reasons are the cancellation of games or races due to bad weather.
Bettor: Person with an official account at any betting house and who participates in the options offered by the operator.
Long Term Bet: Predictions on an event with a duration of several days. These are generally multi-match tournaments, where a winner is proclaimed at the end. The most common examples are the Champions League and the soccer world cup.
Canadian Bet: This type of bet is also known as "Super Yankee". It is a combination of a total of 26 bets on 5 different events. The bet must include a quintuple, five quads, ten triples, and ten doubles from a selection of five matches, plus an accumulator, to be recognized within this category. At least two options from those selected by the bettor must win in order to claim the refund.
Combination Bet: Some sites also call it an accumulator, parlay, parley or even accumulator. It is a selection of several forecasts for various simultaneous sporting events. It is necessary to hit all the chosen options to win the bet. The total profit depends on the odds included in each of the forecasts.
Proposal Bet: This type of bet is identified with the code "1X2" or "One against one". These are unreal or virtual bets, as it is not about direct confrontations between two athletes or teams, but in the comparison of the results of two or more participants/teams. The result and the calculation of the winnings will be based on the number of times each participant records a predefined event, for example, goals, yellow cards or free kicks, in the case of football betting. All related matches must be completed for these types of bets to be recognized.
The image shows a visual representation of the explanation of the most important terms and concepts in sports betting.
Bet Each Way: It can be found under the acronym EW and refers to a bet in which the chosen option must win or be placed in the payment conditions. The bet is divided into two, with a 50% stake for both the "winner" and the "placed".
Live Bet: They are made in real-time, simultaneously with the development of the event or match. The odds on these types of bets change and adapt to the odds of winning. Most popular synonyms: “en Vivo” and “live”.
Previous Bet: Bet that is placed before the event starts and cannot be changed after the start of the event.
Syndicated Bet: This term is used by many operators to classify the illegal bets placed by bettors. The main difference between invalid bets and so-called “syndicated” is the intention of the user. In this type of movement, the operator recognizes an obvious act of the account holder against the broker to obtain a final profit. In the case of recognizing this type of activity, the houses cancel the accounts involved and defer the payment of profits.
System Bets: These are options available mainly before the events start. It is possible to combine up to 12 different boxes (single, double and triple) in a single coupon. This action is similar to the accumulated bet.
Live Bets: They are made in real-time, simultaneously with the development of the event or match. The odds on these types of bets change and adapt to the odds of winning. Most popular synonyms "en direct" and "live".