Craps Rap - "L"
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
Lammer Plastic coin-like indicators which are placed on Buy & Lay wagers. Also used to indicate bets ON or OFF. Also used by boxman to keep record of the total cash in the DROP.
Late Bet Called "Bet" or "NO Bet" by a boxman or dealer if a player makes a bet after the dice have been tossed, or when they're are already in the air.
Lay bet A wager that a particular number (4,5,6,8,9, or 10) won't be rolled before a 7 appears. The casino takes 5 percent of the winnings on these bets. The 5 percent commission is generally taken in advance, but some casinos take the fee after the bet has been won.
Lay Bet A wager that a 7 will be rolled prior to the number you're placing (4,5,6,8,9, or 10) turns up. The casino requires gamblers to lay slightly more than the correct odds, giving the casino an advantage of 3.03 percent on 4/10, 2.5 percent on 5/9, and 1.82 percent on 6/8.
Lay-Out The graphic arrangement of the table, such as all the areas where wagers are placed.
Lay Odds After a point's been established, the don't pass wagerer may place another odds wager that'll win if the original Don't Pass wager wins. The odds wager is paid at the correct odds for the point, and is a fair bet with no house advantage. This also applies to any Don't Come Bet. Placing this bet's referred to as "laying the odds" for your Don't Bet.
Lid The wood or plastic top of the House Bank which covers house gambling chips when the table is not in action.
Lights Out Often called by a stickman to remind a dealer to move the Marker to Black (Off).
Line Bet A wager on the "pass line" or the "don't pass line" is referred to as a "line" bet. This bet is placed at the start of a game, in advance of the "come out" roll. The player is required to [ place a line bet in order to throw the dice.
Little Joe A pair of 2s or Hard 4.
Lock It Up Dealer slang to put loose gambling chips in their stacks or into the House Bank.
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