Glossary

The Gambling Dictionary

Entering an online casino, a poker room or any other Internet gambling site is like crossing into a new world in many ways. Although no passport needs to be stamped and even currency does not need to be converted, there is a new lingo to learn. Gambling terms, professional vocabulary, insider references and technical terminology are all listed in this section. Find the meaning of a new term you learn, scan for new terms you didn't know exist, or sort via the advanced tag search option for a variety of convenient browsing options.

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Last Position

The final person who can take action in a round.

Lay Down

The debatable decision to fold, especially when a players hand is strong. It is also used as another term for the showdown, when players reveal their cards.

Laying the Odds

Together with Taking the Odds, the two are the main forms of gambling. Laying the Odds means placing a wager on a likely winning outcome (mainly in sports betting, but not only) in spite of a payoff less than the amount wagered.

Lead

The player who makes the first bet in a round.

Leader Board

Used in tournaments, this is the board which ranks the players stackings from highest to lowest.

Leak

When a player deliberately reveals a portion of his cards to let other player's know what he has. Alternatively, it can be used to describe a weak point in a player's game that they want to work on.

Leg

Another word for a hand or single round of play.

Leverage

The credit provided by the online forex site to traders. Leverage is displayed as the amount each unit of funding in the account can be multiplied by for trading purposes. 1:50 is fifty times the account balance. If a trader has $500 and leverage of 1:100 then their leverage is $50,000.

Limit

A specific amount of money or chips that can be played and wagered in a game or round of betting.

Lines

Odds offered to the punter.

Little Blind

Player position which is required to contribute the smallest blind in a blinds game.

Live

A card which is still in play and has not been fouled or folded. It can also describe a game that is active or a players state of mind while playing, ie: "We've got a live one!"

Live Chat Support

An instant messaging service allowing real time, online communication with customer support agents regarding queries, problems or requests.

Live Dealer

Developed in 2003, Live Dealer gaming allows online gamblers to play in a real-world casino environment. Gamblers use videostreaming (webcams and broadband connections) and face live dealers on the screen with whom they can interact and engage.

Load up

Playing the maximum number of chips allowed on a given spin at the slot machine or video poker.

Lobby

A portal at the online casino site from which the player can access any game or any section on the site, such as the latest news, promotions and other.

Lock

The best hand possible or one that cannot be beat.

London Lowball

A game where players try to make the weakest hand possible instead of the strongest. Best possible hand is 6-4-3-2-A with no flush.

Long

Traders buy currencies they think will go up. You are 'long' in a currency you are buying.

Long Odds

Generally greater than 10:1.

Look

Calling on the final betting round.

Loose

Described a player who constantly keeps a stake in the pot, even when it's advisable to fold and plays many hands till showdown.

Low Poker

Also called lowball, a game of poker in which the lowest hand wins the pot. It is the opposite of High Poker.

Low-Limit

Describes a game which is played for or requires a small amount of money. Also called a low-stakes game.

Lowball

Also called low poker, a game of poker in which the lowest hand wins the pot.

Loyalty Program

A membership scheme that awards special benefits (e.g. bonus credits) to customers who play frequently or spend a lot of money at a certain casino.

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