Blackjack Encyclopedia of Casino Twenty-One: L

Labouchere. {PBS} Also known as the cancellation or Labby system. An example is appropriate: We start with the numbers 1 2 3. First bet is the sum of the outside numbers (4). If this bet wins then the next bet is 2 since we cross out the 1 and 3. If the first bet loses then the series becomes 1 2 3 4 and our next bet is 5.
[79 Ainslie How to Gamble in a Casino 72]

Lake Tahoe. Region near Reno, Nevada with several major casinos and renowned for its beautiful scenery, skiing, and blackjack tables. Lake Tahoe is 22 miles long and lies on the California/Nevada boundary. Blackjack rules are similar to Reno. Casinos are located at Stateline, Crystal Bay and in Incline Village. See Carson City.

Las Vegas. The city with the largest concentration of legalized gambling in the world. With a population of over 250,000 it is one of the most popular places to play casino blackjack. Located in southeast Nevada, this city has consistently had some of the best opportunities for card counters in the USA. See Downtown. See Las Vegas Strip.

Las Vegas rules. Las Vegas Strip rules have typically been defined as the following:

Double on any first two cards.

Dealer stands on soft 17.

Double after splits not allowed.*

Pair splitting up to 4 hands.

No re-splitting of aces.

Frequently Asked Question
What is mean't by the term "Las Vegas Rules"?

See Downtown rules.
[9/90 Wong Instant Update CBN]
[90 Snyder Blackjack Forum]

Las Vegas Strip. (LVS) The string of casinos along Las Vegas Blvd. South in Las Vegas, Nevada where most of the large luxury hotels and casinos are located. This area extends approximately 4 miles south of downtown Las Vegas. See Las Vegas.

Las Vegas Strip rules are assumed for all casinos in this book. (e.g., if insurance is allowed no mention is made of this fact, however, if a rule differs then it is mentioned.)

Laughlin. City in southern Nevada's Mohave Desert along the Colorado River with several major hotels and casinos. In 1990, Laughlin had become the nation's fourth largest gaming market as compared to Las Vegas, Reno / Sparks, and Atlantic City. At the present time, all casinos (10 at time of writing) offered H-17 single-deck games. Half of these games were D10 while the rest were D2.
[6/88, 7/90 Blackjack Confidential]
[12/90 Saito Laughlin BJC]

lay and pay. The dealing method of turning over player's cards, paying or taking bets, and then gathering up all the used cards at the same time. Lay and pay is the style of dealing most prevalent in Las Vegas, Atlantic City and most other locations in the U.S.A. See pick and pay.

TYPICAL TABLE LAYOUT
Atlantic City, New Jersey

layout. The diagram on a blackjack table, usually green in color with white imprinting. The casino's logo and/or name is also usually imprinted. Occasionally you will see tables with other colors. The most distinguishing layout difference is when the rules require the dealer to stand on soft 17 (e.g., Las Vegas Strip) versus rules that require dealers to hit soft 17 (e.g., Northern Nevada). Other layouts exist such as the Over/Under 13 games and in Europe unusual layouts can be found. In addition, the rules for how the dealer will pay off blackjacks (e.g., 3 to 2) and insurance bets (e.g., 2 to 1) are also typically shown. See figure.

leak. A dealer weakness, such as exposing a hole-card or overpaying the bettor.
[81 Uston Million Dollar Blackjack 319]

Leib Criterion. (John Leib) (1993) An alternative bet sizing criterion proposed by John Leib that suggests that players with non-fixed bankrolls (i.e., most recreational players) are better off sizing their bets on the bankroll on hand and not on what Kelly suggests. See Kelly Criterion.
[9/93 Leib What's a Kelly Man to Do? BJF 31]

level. As in a level 1 system. Level n typically refers to a card counting system with a maximum point count for a card of n. (e.g., The Hi-Lo count would be considered a level 1 system, whereas the Zen count would be considered a level 2 system.)

like-card clumping. What generally happens as a result of insufficient shuffling procedures. See clumping.

Limet. A blackjack gimmick offered by the Aladdin in early 1980. One game of Limet consisted of 11 rounds. All players buy-in with a fixed amount and put another 20% of the buy-in into a side pot. After 11 rounds, whoever had the most money left won the side pot. Sounds like a mini-mini tournament to me!
[5,7/80 Wong Limet at Aladdin NBJ 82,118]

limit. As in betting limit. The maximum or minimum bet amount that can be wagered by one person. Typical casino betting limits range from $1 (Downtown Las Vegas) to several thousand dollars at major Strip casinos in Las Vegas and Atlantic City.

location play. {STS} Also called card location, ace tracking, steering, location betting, key-carding, or sequencing / sequence tracking. An advanced shuffle tracking technique which involves memorizing a sequence of key cards during play in order to track a rich segment through a shuffle.
[90 Zender Card Counting for the Casino Executive 92]
[93 Dalton Non-Counting Methods to Beat the Game BJR 13]

long-run. The period of time a player must wait before he can expect to see the results of theoretical play. Usually meant to refer to thousands of hours of play. See short run.
[9/90 Snyder Waiting for the Long-Run BJF 3]

long-run strategy. A strategy used to optimize a player's chances of winning based on the actual theoretical advantage a player has in a game.

Big Deal Blackjack - Florida Lottery 1999

lottery scratch-offs. Many states that do not have legalized casino gambling have state-run gambling in the form of scratch-off games. An example of a "blackjack theme" lottery scratch-off is shown in the right image. This image is from a 1999 lottery in the state of Florida.

Louisiana. This state is approved for riverboat casino gambling in 1994. Also, one land-based casino has been approved for New Orleans in 1994. See riverboat gambling.

low card. Typically a reference to a 2, 3, 4, 5, or 6-valued card. See high card.

luck. As in good luck or bad luck. More technically referred to as the standard deviation. Due to the fact that most recreational players play only a relatively small number of hands per trip, what is often referred to as luck does play a major role in the final outcome of whether a player ends up a winner or a loser. As one continues to play over a lifetime, luck becomes less important and the probabilities of the game will begin to show. Proponents of short-run strategies are just fooling themselves into thinking they can outsmart long-run probabilities.

lucky buck. A casino term referring to a gaming coupon. Low stacks players can often find 2 for 1 ($2 paid with a $1 bet) or 3 for 2 ($3 paid with a $2 bet) lucky buck coupons in casino funbooks. These coupons are issued by casinos as an enticement to gamble and are generally restricted to minimum bet even money table games. More often than not, lucky bucks can be obtained only by players with out-of-town identification. See matchplay.

LVA. Acronym for the Anthony Curtis' Las Vegas Advisor newsletter. See HP.