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POKER TABLES (TEXAS HOLD'EM)
After
slow but steady gains in popularity throughout the 20th
century, hold 'em's popularity surged in the 2000s due to
exposure on television, on the Internet and in popular literature.
During this time hold 'em replaced 7 card stud as the most
common game in U.S. casinos, almost totally eclipsing the
once popular game. The no-limit betting form is used in
the widely televised main event of the World Series of Poker
(WSOP) and the World Poker Tour (WPT).
Because
each player starts with only two cards and the remaining
cards are shared, it is an excellent game for strategic
analysis (including mathematical analysis). Hold 'em's simplicity
and popularity have inspired a wide variety of strategy
books which provide recommendations for proper play. Most
of these books recommend a strategy that involves playing
relatively few hands but betting and raising often with
the hands one plays.
In
Texas hold 'em, like all variants of poker, individuals
compete for an amount of money contributed by the players
themselves (called the pot). Because the cards are dealt
randomly and outside the control of the players, each player
attempts to control the amount of money in the pot based
on the hand the player holds.
The
game is divided into a series of hands or deals; at the
conclusion of each hand, the pot is typically awarded to
one player (an exception in which the pot is divided between
more than one player is discussed below). A hand may end
at the showdown, in which case the remaining players compare
their hands and the highest hand is awarded the pot; that
highest hand is usually held by only one player, but can
be held by more in the case of a tie. The other possibility
for the conclusion of a hand is when all but one player
have folded and have thereby abandoned any claim to the
pot, in which case the pot is awarded to the player who
has not folded.
The
objective of winning players is not winning every individual
hand, but rather making mathematically correct decisions
regarding when and how much to bet, raise, call or fold.
By making such decisions, winning poker players maximize
long-term winnings by maximizing their expected utility
on each round of betting.
