Up to 10 players are sitting at a table. In front of one of the players is a button with a "D" on it. This is called the dealer button. The dealer button moves one position to the left before each hand. This button originates from when players in the group took turns to deal the cards. In all poker rooms, there is a virtual dealer who does the actual dealing.
Texas Hold'em Game Cycle
The Game Cycle progresses as follows (examples shown are for limit poker):
First, the two players directly to the left of the dealer button must post "blinds", that is to place a bet before the cards are dealt. This is to stimulate action on every hand. Since the dealer button moves one position clockwise every hand, everyone has to post blinds at some point in the game. The player to the immediate left of the dealer button posts the "small blind", equal to half of the minimum stake (e.g. $2.50 for a $5/$10 game). The player to the left of the small blind posts the "big blind", equal to the amount of the minimum stake (e.g. $5 for a $5/$10 game).
After the blinds, the first cards are dealt. Every player gets two cards face down. These are called pocket cards (also known as hole or down cards).
First Betting Round
Betting begins with the player immediately to the left of the big blind and continues in a clockwise direction around the table. Every player can fold, call or raise.
The Flop Cards
Now three cards are dealt face up in the middle of the table. These cards are called the flop cards. These are "community" cards and can be used by all the players to make up their hand.
Second Betting Round
Second round of betting follows. This is carried out exactly as the first betting round, but begins with the player who paid the small blind, or the first player on his left who is still in the hand.
Third Betting Round - The Turn Card
After the second round of betting, a fourth "community" card is dealt face up in the middle of the table. This is called the "Turn card". It is followed by a third round of betting, but now the minimum bet is the higher of the table stakes, in our example $10 in a $5/$10 game.
Fourth Betting Round - The River Card
Finally, a fifth and final "community" card is dealt. It is called the "River card" and is followed by a fourth and final round of betting.
After the final betting round, the best five-card hand is determined. Both the pocket cards and the community cards can be used to make up a hand. The player with the best five-card poker hand wins the pot. Players can also split the pot if they have the same hand. In the rare case of the best hand consisting of community cards only, the pot is divided between all the players left in the pot at the showdown. If you see that you are losing, and do not want to show your cards, you can Muck, that is to give up your hand and lose the pot. Otherwise you can Show to compare your hand with others.
After a hand is completed and the pot taken by the winner, the dealer button is moved one player to the left, and the next hand begins.
The player left of the big blind starts the betting round, betting order goes around the table clockwise. Everyone is betting according to what they think their hand will lead to.
If you don't like your cards, you can fold. If you have posted a blind, made a bet or raised a bet, you will lose that money. But you will not lose any more. After folding, you are out of the game until the next hand.
You can stay in the game by checking or calling. If no bet has been made before you, you can check without placing any money in the pot. If a bet has been made (this includes the blinds), you can call by placing the same amount in the pot.
If you think your hand is good enough, you can make a bet. If another player has already made a bet, you can raise it.
Bet amounts are fixed in fix limit texas hold'em by the table stakes. For example, in a $5/$10 table, bets are $5 in the first two rounds and $10 in the last two. There can be one bet and three raises in each round (bet, raise, re-raise, re-re-raise). After three raises, the betting round is capped and the next card is dealt (or, if it is the final betting round, the best hand is determined). No Limit hold'em is the game where players can bet as much as they like (as long as they have it in front of them) on any round of betting.
When a player runs out of chips during the course of a hand, he/she does not have to fold. Instead the player will be deemed to have gone "all-in". When you are all-in, you call all your chips and the pot is divided into the main pot and side pot. All subsequent chips are thereafter added to the side pot, and cannot be won by the all-in player.
At the showdown if the all-in player does not have a winning hand, both the side pot and the main pot go to the winning hand, as usual.
At the showdown if the all-in player has a winning hand, the main pot goes to the all-in player, and the side pot goes to the next best hand.
When several players go all-in, multiple side pots are created. The pots are divided according to hand and order in which the players went all-in. If a player not all-in at the showdown has the winning hand he wins all side pots and the main pot. If an all-in player has the best hand he/she wins the pot or pots that were collected until he/she went all-in. Any all-in player with a winning hand can only win the pot or pots they are involved in.
A betting round continues until all players have folded or called the third raise, or until a bet has been called by all players (except the one who placed the bet) with no raise taking place.