Blackjack - A hand that adds up to 21 points. Examples: A,J; A,T; 6,6,6,3.
Cage - The place where you buy and sell chips at a casino. Basically it's the cashire.
Double - Double the original bet and take exactly one more card.
Edge - The probablity advantage of one person over another. If someone has a 51% chance to win, then his edge is 1%.
Hard hand - A hand without an Ace or an Ace that has value of 1, so it can't change into 11 after another card.
Hit - Take another card.
Insurence - A side bet that the player can make with the dealer when the dealer is showing an Ace. The insurence bet is 1/2 of the original bet. If the dealer has Blackjack, the bet pays out 2:1 for the player.
Odds - Ratio on the payout vs. investment. Example: You bet a 100$ on 2:1 odds. If you win, you get 200$ plus your original bet back.
Running count - The count that you get from all the cards you counted in the current and past hands up to now. Used in Hi-Lo card counting.
Shoe - One or more decks of cards from which the dealer deals each hand.
Soft hand - A hand with an Ace that has value 11. So it has the option to still turn into a 1 value Ace after another card.
Split - Split one hand in to two seperate hands when you are holding a pair.
Spread - The difference between the maximum and minimum allowed bet at a Blackjack table.
Stand - Don't take another card.
Surrender - Give up your hand and lose half the original bet.
True count - The actual count when counting cards in Blackjack where the shoe consists of multiple decks.
Variance - Standard statistical deviation from the long term resoults that occours in the short term.