Poker Basics

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Early position
A position on a round of betting in which you must act before most of the other players.
An advantage over an opponent.
Effective odds
The ratio of the total amount of money you expect to win if you make your hand to the total amount of bets you will have to call to continue from the present round of betting to the end of the hand.
The value of a particular hand or combination of cards.
Even money
A wager in which you hope to win the same amount as you bet. The term is also used to describe situations in which the chances that one result will occur are the same as the chances the opposite result will occur. Hence, whether an honest coin comes up heads or tails is an even-money proposition.
The average profit (or loss) of any bet over the long run.
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