Loser Pays, Loser's Pay
LP is a prize/betting term used in games which refers to the agreement made by players before the start of play.
Usually the agreement is, Loser pay and the winner takes it all.
The Streets: An LP Novel is the world's first LP novel. The tone is set with the opening paragraph: Back in the day, Franco told T they were gonna take this trip. Hop the Turnpike straight outta Jersey. Fill up on Philly cheesesteaks. Run the Rocky stairs. Blaze through the dirty dirty. Push a hunid thirty thirty. Refuel at a bodega in Talladega. See the city serenade that is a Nawlins jazz parade. Next to West Texas...