In poker, players make money bets with cards that have a positive expected value. These bets can be made for various strategic reasons. Since the outcome of any poker hand depends on chance, the long-run expectations of a player depend on his or her actions, probability, game theory, and psychology. A player can win or lose a hand depending on the amount of money bet on a specific hand.

The basic rules of poker are similar to those in other card games. Each player starts the game by placing an initial bet (the amount varies from game to game). The next player bets in the same amount. When a player matches the initial bet, the player may raise the bet and continue playing.

The maximum amount of chips a player can bet or raise in a poker game is called the pot limit. A player may raise more than the maximum amount of chips in the pot if he or she has an exposed pair. Usually, the limit is doubled at the end of the betting interval. This limit varies depending on the game and the stage of the game.

The final betting phase of a poker round is called the showdown. In this phase, players reveal their cards clockwise around the table. The player with the highest-ranking hand wins the pot.