L
Lay
Offer odds.
Layer
Person offering odds, usually a Bookmaker. One to one betting services and some smaller Bookmakers will allow a punter to lay as well as place bets.
Laying Off
Where a Bookmaker reduces their exposure on a winning horse or team by backing it with other Bookmakers.
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. The bookmaker will often pay a bonus if you get all 4 selections correct, or if you only get one correct.
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. The bookmaker will often pay a bonus if you get all 5 selections correct, or if you only get one correct.
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. The bookmaker will often pay a bonus if you get all 6 selections correct, or if you only get one correct.
