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Laying the Odds - Betting on a likely winner in spite of a payoff less than the amount wagered. Most commonly seen in sports betting when there is a clear favorite. Opposite of Taking the Odds.
Layout - The surface of a gaming table, inclusive of the areas where players can place bets.
Let It Ride - To increase a bet by two. To Press.
Load Up - To play the maximum number of coins in slots or video poker.
Long Run - Theoretical term describing the ultimate balancing-out of wins and losses over a long period of time.
Loose - Slot machines with a high payoff. Slang.
Low Poker - A kind of poker in which the lowest hand wins. Also called Lowball. Opposite of High Poker.
