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Ladies - Two Queens.
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Late Position - Position on a round of betting where the player must act after most of the other players have acted, (usually considered to be the two positions next to the right of the button).
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Lay Down Your Hand - When a player folds.
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Lay the Odds - To wager more money than you hope to win.
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Lead - The first player to bet into a pot.
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Leak - (a) To lose back part or all of one's winnings through other gambling habits.
(b) To have part of your skill set that is significantly lower than the rest of your game thus allowing a loos of money in that area.
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Leg - One game in a series of poker hands, where the rules require that a player win a number of times to collect the pot. In Double-Legged poker, for example, a player must win two hands (or legs) in order to collect the pot.
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Legal raise - A raise that, in a no-limit or pot-limit game, is equal to or greater than the previous bet or raise, or, in a limit game, is equal to or greater than half the previous bet or raise. This comes into play in determining whether the betting can be reopened. See reopen the betting.
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Legitimate Hand - A string hand that is not a bluff.
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Legitimate play - When a player bets in a way that corresponds accurately to his hand; i.e. does not attempt to represent a hand that he does not have.
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Level - The period of time in a tournament during which the betting stays at the same limit or the blinds remain the same. For example, a tournament might start out at $10/$20 limit for the first half hour, then go to $15/$30 for the next half hour, and so on.
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Light, to be - To be short on the funds required to remain in the game. Some tables allow a player to state, for example, "I’m light, I owe the pot five dollars", meaning that the player will owe five dollars to the player who wins the pot, unless that particular player happens to win.
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Limit Poker - A game that has fixed minimum and maximum betting intervals, along with a prescribed number of raises.
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Limper - The first player who calls a bet.
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Limp in - To enter a pot by simply calling instead of raising.
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Little Blind - the smaller compulsory ante in Hold 'em paid by the first player to the left of the dealer.
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Little ones - The lowest card in a player’s hand and any that match it in the same hand. For example, if the lowest card in a player’s hand is a Three, and that player has two of them, they are both the little ones. Typically designated in wild card games, such as Kings and Little Ones.
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Live Blind - An instance where the player puts in a dark bet and is allowed to raise, even if no other player raises. It's also known as an 'option'.
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Live Card(s) - In Stud Games, cards that have not yet been seen and are presumed to still be in play.
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Live Hand - A hand that could still win the pot.
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Live One - An inexperienced player who plays a lot of hands.
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Loan shark - A shady individual willing to loan money to desperate poker players. The loan is typically attached to unfairly high interests.
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Lobby - The window that appears when you first start your Poker softwhare. Here you can find much information on the games, join games, bring up the Cashier window, and more.
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Local - A permanent Las Vegas resident.
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Lock - A hand that cannot lose.
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Lock up - To "lock up" a seat in a cash game means to place a poker chip, player's card, or other personal effect on the table in front of the seat, to signify that the seat is occupied even though the player may not be present.
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Long Shot - Making a hand despite having few outs and/or poor odds.
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Loan shark - A shady individual willing to loan money to desperate poker players. The loan is typically attached to unfairly high interests.
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Look - When a player calls the final bet before the showdown.
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Looking Down His Throat - Knowing that it is impossible for your opponent to beat the hand you hold.
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Looking Out the Window - An expression to describe a player who is not paying attention to the game.
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Loose - A player who often calls. Opposed to tight;
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Low - (a) The lowest card by rank.
(b) The low half of the pot in a high-low split.
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Lowball - Is a form of draw poker in which the lowest hand wins the pot.
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Low Limit - A game where the amounts wagered are small.
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Low roller - A small-stakes poker player.
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Low Limit - A game where the amounts wagered are small.
lexicon4poker.com