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Here's a list of the most frequently used poker terms and abbreviations
Freeroll: A multi-table tournament that is free to enter but still has a real money prize pool.
Grinder: A player that consistently plays for hours on low limits with the intent of slowly and carefully building a larger bank roll.
Heads up: A game or situation where players face each other one-on-one.
Hi/lo: A game variation where half the pot goes to the player with the best hand and the other half goes to the player showing the worst hand.
Kicker: If a player makes a pair with one of his hole cards, the other is called the kicker. If another players holds the same pair, the highest kicker wins the pot.
Komodo Dragoned: Losing a pot because another player catches a straight or a flush on the river.
Nuts, the: The best possible hand a player can have at any given time.
Outs: The total number of possibilities a player has to win a pot based on the current situation. If he holds 99 and needs another 9 to win, then he would have a total of two outs.
On the Button: Being in the dealer's position and thus acting last.
Over cards: Pocket cards that have a value higher than the highest card currently on the board. An ace and a king are over cards to a 57J flop.
Over the top: Re-raising another player's raise with a substantial amount.
Pot odds: A strategic comparison between the amount of money needed to call a bet, the total amount in the pot and the chance of actually winning the hand.
Position: Where a player is seated in relation to the dealer, establishing that player's place in the betting order.
Rags: Low community cards that ought to have no effect on the outcome of a hand.
Railbird: An active spectator of an ongoing poker game waiting to get a seat or happy just to watch and comment the game. A lot.
Rat-holing: To leave a game and then return shortly thereafter with a lesser stack of chips than you left with. Considered highly unethical and is usually prohibited.
Read: The art of identifying another player's tells and analysing his play in order to determine his pocket cards.
Re-buy: A tournament feature that, for a limited time only, allows players who bust out of a tournament to buy their way back in again.
Runner-Runner: Improving your hand by hitting on both the turn card and the river card and thus winning the pot.
Sandbagging: Playing a very strong hand passively in the hope of inducing more action and provoke costly bluffs.