L … is for Las Vegas

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Labouchere. {PBS} Also known as the cancellation or Labby system. Example: 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.

Lake Tahoe Rules  Archived Rules

Welcome to Las VegasLas Vegas. The city with the largest concentration of legalized gambling in the world. With a population of over 600,000 (2013) it is one of the most popular places to play casino blackjack. Located in southeast Nevada, this city had consistently had some of the best opportunities for blackjack players in the USA.  However, since the proliferation of the 6:5  rule many players are looking elsewhere.    See Downtown. See Las Vegas Strip.
[ http://vegasclick.com/vegas/casinos-timeline ]
[ https://www.qfit.com/maps.shtml ]

Las Vegas Rules.  Also referred to as Downtown Rules. Phrase once used to distinguish blackjack rules from the Las Vegas “Strip”.  It used to be that in Downtown Las Vegas, dealers hit soft-17 whereas on the Strip, dealers stood on soft-17. Today, most casinos in Nevada have dealers hit soft-17.
[12/90 Wong Instant Update CBN] [ https://www.qfit.com/maps.shtml ]

Frequently Asked Question
What is meant by the term “Las Vegas Rules”?

Las Vegas “Strip” Rules. Archived Rules Typically defined as the following and to distinguish from Downtown Rules or Las Vegas Rules:

  • Double on any first two cards.
  • Dealer stands on soft-17*.
  • Double after Splits (DAS) not allowed.*
  • Pair splitting up to 4 hands.
  • No re-splitting of aces.

Today, most large casinos in Las Vegas offer DAS in their multi-deck games, however, most dealers now hit soft-17.  In addition, the following rules are offered and should be assumed for other casinos around the world unless otherwise indicated:

  • Insurance allowed.
  • Dealer does not peek under tens.
  • Split aces receive one card only.
  • All multi-deck games are face up and are dealt from a shoe.
  • All single/double-deck games are face down and are hand dealt.

[9/90 Wong Instant Update CBN] [90 Snyder Blackjack Forum] [ https://www.qfit.com/maps.shtml ]

These terms are for historical significance only.  It appears that the trend is for rules that are worse for the player.  Good examples of this are that most casinos are now hitting soft-17 and blackjack payoffs are often only 6:5.  We can live with dealers hitting soft-17 but we should all protest and not play games with 6:5 rules.

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 System. {PCS/L1}. TBD

late surrender. See surrender. See Late Surrender Basic Strategy.

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.
[6/88, 7/90 Blackjack Confidential] [12/90 Saito Laughlin BJC]

Laughlin Rules  Archived Rules

lawyer. Need a lawyer?  Better call Bob.  Tell him BJRNET sent you.

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.

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.
[ PHOTO CREDIT: Taj Mahal Atlantic City, New Jersey: Typical Table Layout ]

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

Leib, John E.  (19xx – 1996) A frequent contributor to Arnold Snyder’s Blackjack Forum and proposed what is referred to as the Leib Criterion. Bryce Carlson has called Leib the “mischievous curmudgeon of Blackjack Forum“.  John Leib passed away on November 15, 1996, from an apparent heart attack.  He was close to 70.
[ 97 In Memory of John Leib BJR 6.1 ]

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 ] [ http://www.blackjackforumonline.com/content/Leibkelly.htm ]

leptokurtosis. See kurtosis.

letItRideBJLet It Ride BlackjackA blackjack side bet from Bally Technologies.  According to their literature: … This optional side bet for blackjack gets its base from poker. The object of the side bet is to get one of the following 2-card starting hands: Pair, Flush or Straight.  If players start with one of these hands, they may take the proceeds or let them ride by adding the win to their standard blackjack wager.  To start, players make a standard blackjack wager. They may also make the Let it Ride wager for any amount within the posted limits.They will then get their first two cards.  If a player’s Let it Ride bet wins, they may collect the proceeds (winnings and original bet) or they may add them to their standard blackjack wager.
https://www.ballytech.com/Table-Products/Table-Games/Blackjack-Side-Bets/Let-it-Ride-Blackjack ]

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.

live. See George.

LL. See Lucky Ladies.

loader. See front loader.

Lobsenz, Louis.  See Ian Andersen.

location betting. See location play.

location play. {STS} Also called card location, ace trackingsteering, 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]

London, Rusty Kent.  See Ian Andersen.

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. This is what we all strive for when we play any game with a positive expectation.

lose. As in to lose a hand. For a typical shoe game, a basic strategy player will lose 48.0% of hands. An interesting question that many players ask is how often do you lose N number of hands in a row in blackjack.  The answer is .48^N for N hands.  So, the probability of losing 6 hands in a row are .48 * .48 * .48 * .48 * .48 * .48 = .01223 or approximately 1.22%.  See winSee push.
[ https://www.blackjackinfo.com/odds-blackjack-losing-6-hands-in-a-row/ ]

loss rebate. aka “Discount on Loss (DOL)”. A promotion or offer from a casino that rebates you money or free play when you have taken a loss at a casino game.  Loss rebates can often have a fundamental flaw that exposes them to advantage play. See Don Johnson.
[ 2015 Jacobson Advanced Advantage Play ]
[ https://wizardofodds.com/gambling/loss-rebates/loss-rebates.html ]
[ https://wizardofodds.com/games/slots/loss-rebate/ ]
[ https://apheat.net/2013/04/01/beating-loss-rebate-programs-the-biggest-advantage-play/ ]
[ https://apheat.net/2013/07/02/the-loss-rebate-theorem/ ] [ http://www.bjinsider.com/newsletter_46_rule.shtml ]

Big Deal Blackjack - Florida Lottery 1999lottery 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 was approved for riverboat casino gambling in 1994. Also, one land-based casino had been approved for New Orleans in 1994. In 2016, the state of Louisiana had 19 casinos with over 500 blackjack tables. See riverboat gambling.
[ https://www.qfit.com/maps.shtml ]

Louisiana Rules  Archived Rules

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

low card clumping. When low cards clump together. See clumping.

LS. Acronym for late surrender.  See surrender.

LT. Acronym for Lake Tahoe.

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.

Lucky Ladies. (LL) A blackjack side-bet believed to have started in Washington State.  There is also a progressive version called Bonus Lucky Ladies. Stanford Wong’s Current Blackjack News lists four varieties that payoff as follows:

  • LL6: 3/6/9/25/250 for any 20/suited20/matched 20/Q-Q/Q-Q and dealer BJ
  • LL7: 3/7/9/25/400 for any 20/suited20/matched 20/Q-Q/Q-Q and dealer BJ
  • LL9: 4/9/19/125/1000 for any 20/suited 20/matched 20/Qh-Qh/Qh-Qh and dealer BJ
  • LL10: 4/10/25/200/1000 for any 20/suited 20/matched 20/Qh-Qh/Qh-Qh and dealer BJ

[ https://wizardofodds.com/games/blackjack/side-bets/lucky-ladies/ ] [ Wong Current Blackjack News ]

Lucky, Mr Winner of the 2003 “Blackjack Cup” at Max Rubin’s annual Blackjack Ball.  According to Rubin, “A world-class traveler and multi-millionaire who’s liberated chips from casinos on every habitable continent, he started his professional gambling career at the ripe age of 21…
[ http://www.maxrubin.com/ball_past_winners.html ]

LV. Acronym for Las Vegas.

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

LVS. Acronym for Las Vegas Strip.

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