Value
As in "bet for value." This means that you
would actually like your opponents to call your bet (as opposed to a bluff).
Generally it's because you have the best hand. However, it can also be a draw
which, given enough callers, has a positive expectation.
Variance
A measure of the up and down swings your bankroll
goes through. Variance is not necessarily a measure of how well you play. However,
the higher your variance, the wider swings you'll see in your bankroll.
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