Betting Terminology

Check our betting glossary to get explanations around the main betting terms in the industry.

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
L
Lay -

This is to bet or wager.
Layer -

This is a bookmaker or one who 'Lays' odds.
Length -

This is the length of a horse from the horse's nose to the start of its tail.
Long odds -

These are odds (e.g. 100 to 1) offered against a competitor unlikely to win.
Long shot -

This is a selection at long odds, not given as high a chance of winning as other selections. (Also known as an 'Outsider'.)
Lucky 15, 31, 63 -

These are multiple bets on all possible combinations of 4, 5 or 6 selections. A Lucky 15 - includes 4 singles, 6 doubles, 4 trebles and an accumulator (= 15 bets) from four selections in different events. A Lucky 31 - includes 5 singles, 10 doubles, 10 trebles, 5 four-folds, and a five-fold accumulator (= 31 bets) from five selections in different events. A Lucky 63 - includes 6 singles, 15 doubles, 20 trebles, 15 four-folds, 6 five-folds and a six-fold accumulator (= 63 bets) from 6 selections in different events.