Betting A-Z: L – The Ultimate Encyclopaedia for All Your Betting Needs
5 min read
Betting encyclopedia
Betting A-Z: L – The Ultimate Encyclopaedia for All Your Betting Needs
LBO (Licensed Betting Office): A physical retail location, typically in the United Kingdom, where individuals can place bets in person. LBOs are typically operated by licensed bookmakers and offer a variety of betting options, including sports betting and casino games.
Las Vegas: A city in Nevada, United States, known for its numerous casinos and gambling options. Las Vegas is a popular destination for gamblers from around the world and is home to many of the largest and most famous casinos in the world.
Late scratch: When a horse is withdrawn from a race after the deadline for betting has passed, resulting in any bets on that horse being refunded.
Lay: To bet against a particular outcome, such as betting that a team will not win a game.
Lay odds: The odds offered by a bookmaker on a lay bet, representing the potential payout to the bettor if they are correct.
Lay price: The amount of money that a bettor is willing to risk in order to place a lay bet.
Lay stake: The amount of money that a bettor stands to win if their lay bet is correct.
Lay the points: A type of bet in which a bettor bets against the point spread, meaning they are betting that a team will win by fewer points than the point spread indicates.
Lay the price: The act of placing a lay bet.
Laying the odds: The process of placing a lay bet on a particular outcome.
Layoff: A type of bet in which a bookmaker places a bet with another bookmaker in order to reduce their exposure to risk.
Layoff bet: A bet placed by a bookmaker with another bookmaker in order to reduce their exposure to risk.
Layoff bookmaker: A bookmaker who accepts layoff bets from other bookmakers in order to reduce their exposure to risk.
Layoff sports bet: A type of bet in which a sportsbook places a bet with another sportsbook in order to reduce their exposure to risk.
Layoff sports wager: A type of bet in which a sportsbook places a bet with another sportsbook in order to reduce their exposure to risk.
Layoff sportsbook: A sportsbook that accepts layoff bets from other sportsbooks in order to reduce their exposure to risk.
Layoff sportsbook bet: A bet placed by a sportsbook with another sportsbook in order to reduce their exposure to risk.
Layoff sportsbook wager: A bet placed by a sportsbook with another sportsbook in order to reduce their exposure to risk.
Layoff wager: A bet placed by a bookmaker or sportsbook with another bookmaker or sportsbook in order to reduce their exposure to risk.
Layoff wagering: The practice of placing layoff bets in order to reduce exposure to risk.
Layover: A period of time between flights, often used by sports bettors to place bets at different sportsbooks in a different location.
Legal bookmaker: A bookmaker who operates legally under the jurisdiction of a particular country or region.
Legal wagering: The act of placing bets in a legal and regulated environment.
Legitimate: Genuine, authentic, and legal.
Lien: A claim against property, typically used in the context of a legal judgment or unpaid debts.
Limit: The maximum amount that a bookmaker will accept as a bet on a particular outcome.
Limit line: The point spread or odds at which a bookmaker will no longer accept bets on a particular outcome.
Limit order: An order to buy or sell a security at a specified price
Line: The current odds or point spread on a particular game or event.
Line bet: A bet placed on a single team or participant to win a game or event, often based on the point spread.
Line shopping: The practice of comparing the odds offered by different bookmakers for the same event in order to find the best possible value.
Linemaker: A person or group responsible for setting the initial betting lines for various sports events.
Listed pitcher: A baseball betting term that refers to a bet that is only valid if the specified pitcher starts the game.
Live betting: A type of betting that allows you to place wagers on a game or event that is currently in progress.
Live line: The updated odds or point spread for a game or event that is currently in progress.
Lock: A bet that is considered to be a sure thing, often due to a significant discrepancy between the odds and the actual likelihood of an outcome.
Lock bet: A bet that is considered to be very likely to win, often due to a significant advantage for one team or participant.
Lock win: A bet that is considered to be guaranteed to win, often due to a very high level of confidence in the outcome.
Long odds: High odds or a low probability of winning.
Long term: A type of bet or wager that takes place over an extended period of time, such as a season-long bet on a team to win a championship.
Longshot: A team or participant that is considered to have a low probability of winning, often with very high odds.
Loose: A term used to describe a game or event with a lot of scoring or a lot of points being scored.
Lose: To not win a bet or wager.
Loss limit: The maximum amount of money that a bettor is willing to lose in a single session or over a certain period of time.
Low roller: A bettor who typically wagers small amounts of money.
Low spread: A small point spread or low odds on a particular team or participant.
Luck: The force that is believed to influence events, often in a positive or negative way.
Lucky 15: A type of combination bet that consists of 15 separate bets on four different selections.
Lucky 31: A type of combination bet that consists of 31 separate bets on five different selections.
Lucky 63: A type of combination bet that consists of 63 separate bets on six different selections.
