Poker Glossary - V
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VALUE: As in "bet for value." This means that you would actually like your opponents to call your bet (as opposed to abluff). Generally it's because you have the best hand. However, it can also be a draw which, given enough callers, has a positive expectation.
VALUE BET: A bet, which made in that position every time, will create positive expected value in the long term.
VARIANCE: A measure of the swings in your bankroll. Games that are short handed or have wild players in them will be higher variance then full games with rocks.
VISIBLE CARDS: Cards dealt face up to each Player. Players use these cards to complete a five-card combination.