Sports Betting Terms Starting From K-L
Kite - UK slang for a cheque ('Check' in the US).
Lapsed Bets - A previously unmatched bet, which a betting exchange has cancelled, due to the event commencing, and the betting market closing.
Lay - The opposite to back an outcome. To play the role of the bookmaker and oppose an outcome.
Liquid Market - A betting exchange market, where there is a large number of bets being matched, leading to a competitive market, in which there is very little difference, between the back and the lay prices.
Long-term Market - A betting market, where the result of the betting event, will not be known for weeks, months or even years; to back a team to win a premiership at the beginning of a season; to back a player to be awarded the player of the season etc.
Laying the points - betting the favorite by giving up points.
Laying the price - betting the favorite by laying money odds.
Layoff - money bet by a house with another bookmaker to reduce its liability.
Limit - the maximum amount a bookmaker will allow you to bet before he changes the odds and/or the points.
Linemaker - in the sports betting industry this is the person who establishes the original and subsequent betting lines.
Listed Pitchers - a baseball bet which will be placed only if both of the pitchers scheduled to start a game actually start. If they don't, the bet is cancelled.
Lock - Easy winner, can not lose.
Longshot - a team or horse perceived to be unlikely to win.
Lengthen - The opposite of 'Shorten'. Referred to odds getting longer, that is, more attractive to the bettor.
Lines - Odds offered to the punter.
Lucky 15 - A Lucky 15 consists of 15 bets involving 4 selections in different events, i.e. 4 singles, 6 doubles, 4 trebles, and 1 fourfold. As a consolation if you only have one winner it will be paid at double the odds. If you get all four winners, a 10% bonus will be added to your returns.
Lucky 31 - A Lucky 31 consists of 31 bets involving 5 selections in different events, i.e. 5 singles, 10 doubles, 10 trebles, 5 four-folds plus 1 five-fold. . As a consolation if you only have one winner it will be paid at double the odds. If you get all five winners, a 20% bonus will be added to your returns.
Lucky 63 - A Lucky 63 consists of 63 bets involving 6 selections in different events, i.e. 6 singles, 15 doubles, 20 trebles, 15 four-folds, 6 five-folds and 1 six-fold. As a consolation if you only have one winner it will be paid at double the odds. If you get all six winners, a 25% bonus will be added to your returns.
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