Casino Glossary

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L

Ladderman

Casino employee who oversees the baccarat game. Personnel working this game are two dealers seated together at the center of the table, a caller standing at the table across from the dealers, and the ladderman, supervising the action from a chair above the table.

Laying the Odds

There are two fundamental forms of wagering, 'taking the odds' and 'laying the odds'. In most forms of sports betting, some odds are so high in favour of the likely winner that winning wagers get paid an amount less than the amount wagered by some percentage, and this is what is meant by 'laying the odds'. In most casino games the player is 'taking the odds' by wagering an amount that is less than they will receive if they win, that is; if you wager $1 you would win more than $1.

Layout

Cloth on a gaming table. Markings tell you where you can place your bets.

Load up

To play the maximum number of coins per spin that a slot machine or video game will allow.

Long Run

The number of rounds of play, hands or spins, needed for the ratio of wins to losses to reach a point where they are changed very little by the cumulative effect of outcomes.

Loose

Referred to slot machines that have a generous payout.

Low Poker

Also called lowball, is poker in which the pot is awarded to the hand with the lowest poker value.