Assuming you already have a basic knowledge of Texas Hold’em you will find the following glossary extremely helpful for successful poker playing. You will also find the basic poker strategies (ie: outs, pot odds) to be very helpful.
Blind (small and big): Forced bets that take place of an ante. The person on the left of the dealer must pay the small blind and the person on the right of the dealer must pay the big blind.
Board Cards: Cards in the middle of table that everybody shares.
Draw: Drawing is when you wish to improve or better your hand with the the cards that will be dealt to the board cards. You are on the draw when you need at least one other card to be dealt to the board to complete your hand. For example, you are holding 6,7 and the flop is K,8,9, you want to draw a 5 or 10 on the turn or river to complete your hand.
Flop: These are the first three cards dealt in Texas Hold’em.
Implied Odds: Basically the same as pot odds except it takes into consideration making bets in the future. Meaning you may call a bet at the flop, but have implied odds of making bigger bets on later rounds if you hit your draw. For example, if you are holding two clubs and the with the flop comes two more clubs, your implied odds are what you have to call at the flop compared to how large the pot will be at the end of the hand.
Limit Poker: This is when the poker game has fixed or set bets. For example, in a $4-6 limit game, all bets and raises are 4 dollars in the first two rounds, and all bets and raises are 6 dollars in the last two rounds.
Longhand: This term alludes to poker games that seven or more players.
Outs: This refers to the number of cards that can improve you hand. For example, if the flop is K, Q, 3 and you have J, 10, you want a 9 or an ace to complete your hand. There are 4 nines and 4 aces, so you have 8 total outs.
Position: This is where you sit at a poker table. The dealer has the best position because he bets last and because of that he can have a better feel for what people at the table have in their hands. The person on the left of the dealer (small blind) has the worst position because they have to bet first and they don’t have a feel for what the other players at the table might have.
Pot Odds: These are the odds you are getting when you are drawing. For example, you have A,2 of hearts and the board is K,7,6. The 6 and 7 are of hearts. You are sure that someone has the king. So, there is a total of 9 other hearts out there (13 minus your 2, and the two on the board), so you have about 18% chance of hitting your flush on your next card. So, if the pot is $100 and the bet is $10, even though you are clearly losing, you have odds with your flush draw. Knowing that, let’s say the pot is $100, you are at the turn (only 1 card left) and your opponent bets $300. The pot is now $400 and you must put in $300 to see the last card (the river). Your pot odds are $300/$700 which is too high, when you consider your chances of hitting your flush are around 1 in 5.
Preflop: This is when you have the first two cards in your hand and there are no cards dealt out on the board yet.
River: This is the final (and fifth) card dealt on the board in Texas Hold’em, after the turn.
Shorthand: This term alludes to when there are no more than six players.
Turn: This is the fourth board card in Texas Hold’em, it is the card after the flop.