The following guide is not an exhaustive list of all rules and regulations of poker (nothing about string bets, fouled cards, or the like). It's purpose is purely to give rank beginners enough information to start playing, so the real learning can begin. Essential terms and the sequence of action are explained.
Limit holdem
There are three common versions of Texas holdem: limit, no-limit, and pot-limit. In no-limit, any-sized bet can be made at any time. In pot-limit, bets can be as big as the size of the pot (which escalates quickly). This guide explains limit holdem, which is tamer than its big bet cousins, but has the advantage of being much less risky, especially for new players. In limit holdem, there are just two wager sizes: the small bet and the big bet. Big bets are twice the size of small bets. Small bets are made during the first two rounds of wagering, big bets in the last two. Limit games are named according to the sizes of the big and small bets. Common limits include $1/$2, 2/4, 3/6, 5/10, 10/20, and on into the stratosphere.
Set up for a 2/4 game
Holdem is played by two to ten people. The dealer gives out cards one at a time clockwise, starting from his immediate left. It is highly, highly, advantageous to be last to receive cards and therefore last to act in the betting rounds. Players in "late position" can see what everyone else has done before deciding what to do. For this reason, the dealer position rotates clockwise after every hand. If players are not doing their own dealing (either because they are online or have a professional dealer) then a plastic disk called the "button" marks the seat of the person who would be dealer.
The blinds
Before the dealer deals, the two persons to the left put up a type of ante called a "blind." First to the left of the dealer is known as the "small blind," second from left is the "big blind." The big blind always equals the size of the small bet in the early betting rounds, so in a 2/4 game, the big blind is $2. The small blind is usually half the size of the big blind. So in our 2/4 game, it is $1. The purpose of the blinds is to spark action -- they put something in the pot for players to start fighting over. FYI: the blind structure of limit and no limit games is not different; only the betting changes.
The deal and first betting round
After the blinds are posted, the cards are dealt starting with the small blind. After each player examines his two cards, a round of betting begins. Betting starts with the seat left of the big blind (known as "under the gun"). This seems counter intuitive, but there is a reason. The blinds are essentially bets, not antes. They are called "blind" because a player is forced to place a bet without seeing the cards first. The blinds are thus already in the pot, so it is up to under-the-gun (UG) to act. The UG can choose to "call" the big blind's bet, which means to place an equal amount in the pot, $2 in this case, allowing him to stay in the hand. UG can also fold, or raise. A raise would be in the increment of $2, for a total of $4. Subsequent players have the same choices. They can fold, call all previous bets, or raise. If UG raises to $4, and the next person raises another $2, then the total bet would be $6. Subsequent players would have to either fold, call $6, or raise to $8. Commonly, there is a limit to the number of raises per round -- usually four. Some card rooms allow unlimited reraising if only two players are active.
When betting reaches the blinds, they have the same choices as anyone else. If there have been no raises, the small blind can call for half price (since she has already posted part of the first bet). This is called "completing." In an unraised pot, the big blind has the option of staying in the hand for no additional money. Since he already put the first bet in, he can say "check," which means he is still in the hand, but is not raising. The big blind can also raise, or reraise when appropriate.
If, at any point, player X raises to $4, and player Y reraises to $6, then when it is X's turn again, he must either fold or call the $2 reraise (or possibly rereraise). Between raises and reraises, the betting can circle the table several times in one wagering segment.
The flop
Once the first round of betting is over, the dealer places three cards face up in the middle of the table. These first three cards are called "the flop." Now players have a chance to see if their hole cards are strengthened by the board. To stay in the hand, sensible players either have a pair or better, or have a good "draw." An example of a good draw would be a four-card flush -- requiring just one more of a suit to make the hand. After the flop is exposed, another round of betting begins, but this time it does not start with the UG or any such confusing spot. Betting starts with the first person on the dealer's left who is still in the hand, possibly the small blind. (Unlike the first betting round, there is no blind bets already out there.) So the first player has the option of checking, or betting (in the increment of $2). If the first player checks, subsequent players can also check. If someone bets, then the choice is to fold, call, or raise.
The turn
Once flop betting is over, the dealer places a single card face up next to the flop. This card is known as the "turn," or rarely, "fourth street." Wagering begins again, but now the increment doubles. Checking, betting, folding, raising, is the same as the flop, but our bet size is now $4. Anyone who stays in the hand through the turn better have a good reason.
The river
The "river" is the fifth and final card placed in the community board by the dealer. (Also called fifth street.) The betting is exactly the same as the turn. If one person bets and everyone folds, then the winner can toss his hand into the discards (called the "muck") without showing (unless he chooses to). If a bettor is called, then he shows his hand. Then the caller(s) can show or discard. In most card rooms, the winner can request to see the cards of anyone who called the final bet (after all, the winner paid for the privilege through betting). Internet poker rooms usually provide records of hands, which should include the cards folded at the river. Once all that is settled, the dealer (or dealer button) rotates one seat clockwise, and it all starts over.
Three more rules
Table stakes is a pretty much universal rule. This means that you can only use money you have exposed on the table in front of you (your "stack"). In between hands, players can add to their stack all they want, but once the blinds are posted, no more money can enter the game. So in the middle of a great hand, you cannot borrow from a pal in order to increase the stakes.
All in means having little money left and putting all of it into the pot. There are special rules in this advent. If a person is all in, she is not folded if there are subsequent raises. If the pot continues to increase, the all-in person stays in the hand, but can only win an amount proportionate to what she put in. This is handled by creating a second "side pot" for the people who keep betting and calling. The all-in person gets none of the side pot. If all-in has the best hand at the table, then the side pot goes to the second best hand. This can be complicated even more if multiple people go all in at different stages, but it can all be worked out.
New player post. A new person entering a game has to place a certain type of blind called a "new player post" which is usually equal to the big blind. The person also has the option of simply waiting until the big blind reaches his seat and just paying that. If you enter a game in a seat that happens to be in late position (i.e. near the dealer) then a new player post is worth it. The closer to the blinds a seat is, the less sense it makes to post early.
The next things to learn
Once you understand the game, you need practice at reading the board. Novices often do not know they have a good hand, or fail to recognize a disastrous board. Our article on hand rankings includes an Introduction to Reading the Board.
Another crucial thing to know is which two-card hands are sensible to play. See our holdem starting hands chart. Novice Texas holdem players will also benefit enormously simply from paging through HoldemTight.com's comprehensive glossary of poker terms.
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