Casino Terms L

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Laying the Odds - Placing a bet on a likely winner in spite of a payoff less than the amount bet. Common in sports betting where a clear favorite is apparent. Opposite of Taking the Odds.
Layout - The surface on a gambling table including the areas where gamblers place their wagers.
Let It Ride - To raise a bet by two. To Press.
Load Up - To play the maximum number of coins/chips in slot machines or video poker.
Long Run - Theoretical term describing the ultimate equaling-out of wins & losses over a long period of time.
Loose - Slang for slot machines with high payoffs.
Low Poker - A type of poker in which the lowest hand wins. Also called Lowball. Opposite of High Poker.
Lumpy - A dealer whose dealing style is not smooth.