L
Lame
When a horse is having difficulty walking or is limping.
Laying
Wagering on a favorite and thereby laying (giving) points or odds to the opposing side.
Limit
The most money a sportsbook will take on a single event. Maximum bet accepted by the house before the price will be changed.
Lines
Another term for the odds.
Line of Scrimmage Football
In American and Canadian football, a line of scrimmage is an imaginary transverse line (across the width of the football field) beyond which a team cannot cross until the next play has begun. Its location is based on the spot where the ball is placed after the end of the most recent play and following the assessment of any penalty yards.
Listed Pitchers
Stating that you will place bet only if one or both of the pitchers scheduled to start a baseball game actually start. If they don’t, the bet is cancelled.
Lock
An easy winner. A bet you have supreme confidence in.
Longshot
Heavy underdog.
