Blinds: The person to the left of the dealer must pay the small blind, and the person after him must pay the big blind. These are the only bets that are compulsory
Board Cards: Also known as Community cards, these are the cards in the middle of the table that are used by everybody.
Draw: This is the term for when you need a card to better or complete your hand. ie if you have 2 spades and there are 2 more on the board, you are on a flush draw.
Flop: The first three board cards in Hold'em.
Limit Poker: Poker with fixed-size bets. In a $1-2 limit game, all bets and raises are $1 in the first two rounds (preflop and flop), and all bets and raises are $2 in the last two rounds (turn and river).
Longhand: A poker game with seven or more people.
Shorthand: A poker game with six or fewer people.
Outs: Cards that can improve your hand. If the flop is 7d, 6s, 4h and you have 5d, 2c, you want a 3 or an 8 to complete your straight. There are four 3's and four 8's in the deck, so you have eight total outs.
Position: Where you sit in relation to the Dealer chip. The dealer is the best position because you get to act last, whereas the small blind is the worst position as you act first.
Pot Odds: I have written an article about this if people wanna check it out.
Preflop: The betting round after you are dealt your two hole cards and there are no cards on the board yet.
Turn: The fourth board card that comes out in Hold'em, the card after the flop.
River: The fifth and final card that comes on the board in Hold'em, after the turn.
If you have any questions regarding other terms, just post them here.

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