Value Bet: A Value Bet is when know you have a better hand than your opponent. You work out how much your opponent is willing to pay you with his worse holding, and then make that bet.
Variance: Variance in Poker, defines the element of chance. In other words the ups and downs of winning in Poker. There is going to be times you win and times you lose. It is inevitable.
Verbal Declaration: This is when a Poker Player verbally calls his next action - i.e fold, raise etc.
VPPS: These are loyalty points that a poker player earns whilst playing poker.They can be used to increase their bankroll and get free credits.