Betting Dictionary

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Lap

See Up and Down (click to edit)

Lay

To take a bet. Bookies lay bets. (click to edit)

Layoff

A layoff or lay-off is a bet a bookie places with another bookmaker in order to cover any big action he has received on his books which he cannot cover by other means. (click to edit)

Lengthen

When the odds on a participant increase from the figure they were originally posted at they are said to lengthen. Longer odds give higher returns. (click to edit)

Lock

Another term for Banker. A sure winner. (click to edit)

Locking bet

See Wheeling (click to edit)

Long Odds

Attractive odds to the punter, typically 10/1 or greater. A competitor who is not expected to win by the bookmakers. (click to edit)

Lucky 15

Also known as "Yap" or Yankee Patent". A combination bet consisting of 15 bets from 4 selections. Contains 4 singles, 6 doubles, 4 trebles and 1 four-fold, making 15 bets. In a lucky 15 if you luck is out and only have one winner then it is paid at double odds and all 4 winners gets a 10% bonus. (click to edit)

Lucky 31

Like a Lucky 15 but consisting of 35 bets from 5 selections. 5 singles, 10 doubles, 10 trebles, 5 fourfolds and one fivefold. One winner is double the odds again, all five winners nets you a 20% bonus. (click to edit)

Lucky 63

Another combination bet with 63 total bets from 6 selections on different events. 6 singles, 15 doubles, 20 trebles, 15 four-folds, 6 five-folds and 1 six-fold. If your luck's out and you only have one winning bet then your winnings on that bet are doubled and if you're really lucky and all 6 win then you get a 25% bonus on your returns. (click to edit)