Online Betting Terms: I-L

Online Betting Terms

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There are a lot of betting terms to master, and understanding, here you can find the general online betting terms out there:

IBAS: A service that settles betting disputes between bookmakers and punters.

In Running: When bets are placed during an event it is known as in running betting.

Jolly: Another name given to the ‘favourite’.

Lay: When a bookmaker accepts bets it is often said that they lay a bet. A bookmaker It will often be known as a layor. You can lay yourself on Betting Exchanges (see our section)
Layers Liability: How much a layer stands to lose if the laid selection wins.

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Lengthen: When a bookmaker sees little activity on a particular outcome, they may choose to lengthen or increase the odds available.

Line: The current odds or point spread on a particular event.

Lock: US term for an almost guaranteed winner.

Longshot: A team or horse perceived unlikely to win.

LSP: Level Stakes Profit. The amount of profit that would have been made if all stakes had been 1 unit

Lucky 15: A Lucky 15 consists of 15 bets involving 4 selections in different events. The bet includes 4 singles, 6 doubles, 4 trebles, and 1 fourfold.

Lucky 31: A bet on five selections covering singles, doubles, trebles, fourfolds and a fivefold

Lucky 63: A bet on six selections covering singles, doubles, trebles, fourfolds, fivefolds and a sixfold

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