L

Large adj.  Units of $1,000.  I won two large.

Last position np.  The final person to act in a round, which can change as people fold.

Late position n.  Last players to receive cards.  Includes the dealer and one or two players to the right.

Leak n.  A consistent flaw in play.  Carolyn's leak is to never let go of top pair.

Limit poker n.  Aka fixed limit.  Betting amounts are predetermined.  Commonly, the limit doubles once, beginning with the turn betting round. 3/6 is a common limit game, where the preflop and flop bets are in $3 increments, while the turn and river are $6.  Contrast no limit. 

Limp v.  Entering a pot passively by calling, not raising, especially with a speculative hand.  The whole field limped in, so Patty tried to buy the pot.

Live outs n. Outs that give you a winning hand, as opposed to ones that improve it but still lose. For example, if a seven would give you a straight, but would give someone else a better straight, then sevens are not live outs.

Lock n.  No possibility of losing.  It's a lock.

Loose adj.  Playing bad cards, staying in hands too long, and/or over betting.  I love loose players.

Loose aggressive adj.  Categorization of someone who not only plays junk, but keeps raising.

Loose passive adj.  See calling station.

Low limit adj.  Small stakes limit poker.  Roughly, betting limits below 10/20.

Low pair n.  1. Pairing the bottom card on the board.  2. The losing pair when cards are exposed.

Low variance np.  See variance.

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