Parlay ... I tried this early on thinking it was an easy jackpot, but the risk is crazy. All your bets have to hit, or you get nothing.
This is probably my favorite gambling term and while it can seem extremely risky for people when beginning, I've found that it is actually one of the less risky ways to gamble with the addition of live betting. This is because you can cancel your bet before one of your wagers loses it for you, and if you've had a few wins on the parlay already you can even make money! Not to many bets will let you cash out for a profit right before it is about to lose. A great strategy in my opinion.