Expectation - (1) The amount you expect to gain on average if you make a certain play. For instance, suppose you put $10 into a $50 pot to draw at a hand that you will make 25% of the time, and it will win every time you make it. Three out of four times, you do not make your draw, and lose $10 each time for a total of $30. The fourth time, you will make your draw, winning $50. Your total gain over those four average hands is $50-$30 = $20, an average of $5 per hand. Thus calling the $10 has a positive expectation of $5. (2) The amount you expect to make at the poker table in a specific time period. Suppose in 100 hours of play, you win $527. Then your expectation is $5.27/hr. Of course, you won't make that exact amount each hour (and some hours you will lose), but it's one measure of your anticipated earnings.
Extra Blind - A blind put in by a player just entering the game, returning to the game, or otherwise changing his position at the table. See also "blind" and "post."
Family Pot - A pot in which all (or almost all) of the players call before the flop.
Fast - As in "play fast." To play a hand aggressively, betting and raising as much as possible. Example: "When you flop a set but there's a flush draw possible, you have to play it fast."
Favorite - A poker hand which is the statistical favorite to win.
Flop - The first three community cards, put out face up, altogether.
Fold - To forfeit any chance of winning the current pot in poker. To lay down your hand or throw your hand in instead of calling or raising a bet.
Foul - A hand that may not be played for one reason or another. A player with a foul hand may not make any claim on any portion of the pot. Example: "He ended up with three cards after the flop, so the dealer declared his hand foul."
Free Card - A turn or river card on which you don't have to call a bet because of play earlier in the hand (or because of your reputation with your opponents). For instance, if you are on the button and raise when you flop a flush draw, your opponents may check to you on the turn. If you make your flush on the turn, you can bet. If you don't get it on the turn, you can check as well, seeing the river card for "free."
Free Roll - One player has a shot at winning an entire pot when he is currently tied with another player. For instance, suppose you have A
-Q and your opponent has A
-Q
. The flop is Q 
-5-T . You are tied with your opponent right now, but are free rolling, because you can win the whole pot and your opponent can't. If no club comes, you split the pot with him; if it does come, you win the whole thing.Gutshot Straight - A straight filled "inside." If you have 9
-8 , the flop comes 7-5 -2, and the turn is the 6 , you've made your gutshot straight.Heads Up - A pot that is being contested by only two players. Example:"It was heads up by the turn."
Hit - As in "the flop hit me," meaning the flop contains cards that help your hand. If you have AK, and the flop comes K-7-2, it hit you.
Hole Cards - Cards dealt face-down to a player - most commonly used when describing the first two player cards in Hold'em and the first four player cards in Omaha.
House - The establishment running the game. Example: "The $2 you put on the button goes to the house."
Implied Odds - Pot odds that do not exist at the moment, but may be included in your calculations because of bets you expect to win if you hit your hand. For instance, you might call with a flush draw on the turn even though the pot isn't offering you quite 4:1 odds (your chance of making the flush) because you're sure you can win a bet from your opponent on the river if you make your flush.
Inside Straight Draw - Seeking one specific card value to make a straight. For instance, a player holding 9-5 with a board of 2-7-6 can make a straight with any eight. This is also known as a gutshot straight draw.
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