In poker, value cutting yourself means betting for value with a hand you believe is ahead, only to get called (or raised) by a stronger hand. This may happen when your opponent’s range is stronger than expected, and your value bet ends up costing you more than checking would have. Value cutting yourself isn’t a…

Short for Voluntarily Put Money In Pot, VPIP is a statistic used to measure how tight or loose a player is based on the percentage of hands that a player voluntarily plays preflop. For example, suppose you have played 10 hands at a particular poker table. If you called or raised before the flop in…

Voluntarily Put Money In Pot (VPIP) is a statistic used to measure how tight or loose a player is based on the percentage of hands that a player voluntarily plays preflop.

Villain refers to an opposing player in a hand, when discussing a hand from a first-person perspective. For example, when discussing a hand in a poker forum, you refer to yourself as the “hero”, and all opposing players are “villains”.

Vig (aka vigorish or rake) is the scaled commission taken by a casino to pay for its operating costs. Rake is collected in tournaments as part of the buy-in cost and in cash games by the dealer dropping a percentage of each pot.

Variance is the difference between expected and actual results. Also known as luck. For example, AA is an 80 percent favorite over KK preflop, but you could lose this battle with AA two or three (or more) times in a row, due to variance.

A value bet is a bet made by a player with the intention of getting called by an inferior hand.