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Donk is a (potentially offensive) term used to describe a very bad poker player. A donk bet is a bet made out of position after check/calling on the previous street. The link here is that it's usually 'donks' who donk bet hence the name behind the bet.

What is the Wong teaser in football? The Wong teaser is a betting strategy developed by sharp bettor Stanford Wong that recommended to play a two-team, six-point teaser and to only play spread favorites of -7.5 to -8.5 and underdogs from +1.5 to +2.5.