Betfair/Betdaq trading glossary beginning with L

L

Ladder

A vertical interface of a selection in a market where you can see prices vertically next to each other. A much easier and versitle interface than the grid for trading.

Last Traded Amount

Amount of money made in the last trade.

Last Traded Price

The last price at which a Backer & Layer agreed a bet between them.

Latency

The time it takes for communication between your PC and the exchange servers.  Also known as ping.

Lay

Betting on a selection to lose. You win if the selection loses. The lower price you can get matched your Lay bet, the better for you.

Layer

Person, who has placed or is trying to place Lay bet.

Liability

Maximum amount of money you are currently risking / able to lose.

Liquidity

The amount of money in the market. High liquidity makes it easier to buy and sell with big stakes.