Craps Rap - "L"

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Lammer Plastic coin-like markers which are placed on Buy & Lay bets. Also used to mark wagers ON or OFF. Also utilized by boxmen to keep track of the total cash in the DROP.
Late Bet Called "Bet" or "NO Bet" by a dealer or boxman when a player places a bet after dice have been rolled OR when the dice are already in the air.
Lay bet A gamble that a particular number (4,5,6,8,9, or 10) won't be rolled before a seven comes up. The casino takes 5 percent of the winnings on these wagers. The 5 percent fee is generally taken in advance, but some casinos take it after the bet's been won.
Lay Bet A bet that a seven will be tossed prior to the number you are placing (4,5,6,8,9, or 10) appears. The casino requires players to lay slightly more than the correct odds, giving the house an advantage of 3.03 percent on 4/10, 2.5 percent on 5/9, and 1.82 percent on 6/8.
Lay-Out The graphic set-up of the table including the areas where bets are placed.
Lay Odds Following a point been established, the don't pass bettor may place another odds wager that'll win if the original don't pass wager wins. The odds wager is paid at the correct odds for the point, and is a fair bet with no house advantage. This also pertains to a don't come bet. Placing this bet is referred to as "laying the odds" for your don't bet.
Lid The plastic or wood top of the House Bank which covers the casino gambling chips whenever the table's not in use.
Lights Out Often declared by a stickman to remind dealers to move the Marker to Black (OFF position).
Line Bet A wager placed on the "pass line" or the "don't pass line" is known as a "line" bet. These gambles are placed at the start of a game, prior to the "come out" roll. The shooter is obligated to make a line bet in order to toss the dice.
Little Joe A pair of 2's or Hard 4.
Lock it up Dealer's expression meaning to place loose gambling chips in their stacks or the House Bank.