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Casino Terms Beginning with L

Late Surrender

A rule in the game of blackjack where a player may surrender half the original bet after seeing the dealers up card provided the dealer has not hit a blackjack.

Layout

An imprint on a gaming table referring to the bets that can be made in those areas.

Laying The Odds

There are two fundamental forms of wagering, ‘taking the odds’ and ‘laying the odds’. In most forms of sports betting, some odds are so high in favour of the likely winner that winning wagers get paid an amount less than the amount wagered by some percentage, and this is what is meant by ‘laying the odds’.

“I was playing a game and I ended up Laying the Odds.”

Lever

While today’s slot machines still have a lever, there is no difference between the outcome of the game using the lever or the spin button. In the past, slot machines that were mechanical, required players to pull a lever in order to spin the reels to determine the outcome.

Limit

In poker, any game that has a fixed limit on how much you can bet or raise in each round.

Line Bet

A roulette bet that involves wagering on 6 different numbers at the same time.

Load Up

To play the maximum number of coins per spin that a slot machine or video game will allow.

Loaded Dice

Dice that have been tampered with in a way that effects the roll to favour particular combinations.

Loose

Slot machines are loose when they are paying off, and giving the house only a small advantage over the player.

Low Poker

Also called lowball, is poker in which the pot is awarded to the hand with the lowest poker value

Low Roller

Someone who only bets or wagers in small amounts.