Glossary of Poker Terms at Bodog Online Poker Room

Value

Often used in the phrase "bet for value" which means to bet a hand as you are confident that you are ahead and want to ensure that you get paid off by an opponent calling with a worse hand.

Variance

Variance is a measure of the money that flows in and out of a player's stack or bankroll over time. Variance is not a measure of how much you win or lose but rather how large your swings will be during a set period of time. The more hands a player plays the larger their variance or swings will typically be, and vice versa for a player that plays very few hands.