Glossary of Australian and New Zealand Punting - L

L

• Lacks ticker: Deficient in the heart department.
• Late mail: Final thoughts and selections of tipsters allowing for things like scratchings, jockey changes and on course information.
• Lay: When a bookmaker takes a risk and increases the odds of a particular horse to entice investors because the bookmaker truly believes that horse has no chance of winning the race.
• Lay down misere: An absolute certainty.
• Lay of the day: A fancied horse considered by a bookmaker to be the one about which he will take the biggest risk.
• Lay off: Bets made by one bookmaker with another bookmaker or the tote, in an effort to reduce his liability in respect of bets already laid by him with investors.
• Length: A length. The length of a horse from nose to tail. Used to describe the distance between horses in a race.
• London to a brick on: Long odds-on.
• Long shot: An outsider at long odds with little chance of winning.
• Lost a leg in the float: The horse has drifted alarmingly in the betting.
• Lug: Racing erratically and hanging in.