Basics of Texas Holdem

Texas Holdem (or Texas Hold’em) is far and away the most popular poker game out there
today.
Featured in the televised WPT events,
and canonized in the poker film classic Rounders, to many Holdem is the only game to play.

• The game concept itself is pretty simple.


• Each player is dealt two cards
  face down (called pocket cards).


• The dealer then deals five community cards face up; these are available to all the players to help make their hand.


• Players may use any combination of their pocket cards and the community cards to make their hand.


• The best 5-card hand takes the pot.

Of course, the game is a little more complicated than that, and as usual,
the complications revolve around money. In our poker lobby, you may have
noticed three different options under the limit column (Fixed, PL, NL).
These options represent the three different Holdem games we offer:
Fixed Limit, Pot Limit, and No Limit. The game type you select will dictate
the bet minimums and maximums for that game.

Game Types

In a Fixed Limit game, both the bet and raise amounts for each round
are a preset amount. For example, in a $5/$10 Fixed game, both the bets
and raises for the first two rounds of betting must be $5, no more, no
less. The last 2 rounds have a bet/raise amount of $10.

In a Pot Limit Game, the maximum bet/raise can’t be more than the
current pot amount. So, if the pot is $30, you can’t bet more than
$30. One thing to note: If you are raising on a player’s bet, your
call is already included in the pot. So, for example, let us say
the pot is $100. Player X opens the betting with $100. Your maximum bet
is now $300 (Pot = Initial $100 + Player X’s $100 + your $100)

Still with us? OK, the final game type is No Limit. The name says it
all; there are no maximum bet limits. You can bet as much as you like
during any round of betting. The minimum bet is the big blind amount.
No Limit Holdem makes for big pots, fast action, and great watching.

Now that you have chosen a game type, it is time to talk about 2 other betting concepts….

The Stakes, The Cap and The Blinds.

The Stakes: The stakes are tied directly to the game
type you select. For a Fixed Limit game, the stakes dictate the bet and
raise amount for each round. Let us use our $5/$10 stakes example
again. In the first two rounds of betting, both the bet and the raise
must be $5, no more, no less. The last 2 rounds have a bet/raise amount
of $10.

The Cap: In Fixed limit games, each round of betting
can consist of one bet and has a maximum number of three of allowable raises,
known as the cap. So, if a bet is made, that bet can only be raised three
times, after which all players must call, or fold. However, if only two
players remain in the hand the cap is increased, to a maximum of five
raises.

In both the Pot Limit and No Limit games, the stakes represent the amounts posted as the blinds.

The Blinds:

Sound complicated? It really isn’t. Let us use our trusty
$5/$10 stakes again. In a fixed limit game, the small blind posts $2 (half
of $5 rounded down). The big blind posts $5. In a $5/$10 pot limit/no
limit game, the small blind posts $5, and the big blind posts $10.

In poker we use blinds as an incentive for players to play a hand, and
build the pot. Consider the blinds like a mandatory bet and raise; any
players that want to play the hand must match the big blind to stay in.
The blinds are considered live bets, so when the action goes around the
table and returns to them, they have the option of checking, calling,
raising or folding as they see fit.

Some other notes about blinds: Any player has the option of sitting out
and waiting for the big blind to reach them. However, if a player sits
out and misses posting the big blind, then that player will be required
to post a big blind and a small “dead” blind before returning.
This rule is in place to prevent potential abuse from players who join
a table and then leave before having to post the blinds.

One thing we haven’t talked much about is the dealer. In poker
each player in turn plays as the dealer. At the table we represent the
dealer position with...

The Dealer Button: The Button is a graphic symbol that
represents the theoretical dealer. After each hand, the button moves
clockwise to the next active player, who becomes the dealer for that hand.
This player is considered to be “on the button,” and is the
last person to act in the betting round. The first player to the left
of the button is the first player to be dealt cards, and is the first
player to act in each betting round.

The Gameplay:

OK, let us play some Holdem. You have bought in to a
table, sat down and posted your big blind. What comes next?

1. Pre Flop…The Pocket Cards: (AKA the Hole Cards).
   The dealer deals each player 2 cards face down. Only the player can see
   his/her hole cards. After the deal, the next player after the big blind
   decides whether to call, raise or fold the big blind. Each player in turn
   is given these options, until all bets are called and the big blind checks.
   Don’t forget, in a fixed limit game, any raises are limited to the
   lower stake amount, and in a pot limit game, the bet can’t exceed
   the pot amount.


2. The Flop: Now the dealer turns over the first three
   community cards, called “the flop”. All betting rounds start
   with the player directly to the dealers left. For fixed limit games, this
   round of betting still uses the lower stake, so in our example $5/$10
   game, any bets or raises must be $5. The pot limit and no limit rules
   don’t change.


3. The Turn: (AKA Fourth Street). The fourth community
   card is dealt, and a new betting round begins. The bet amount for fixed
   limit games increases to the upper stake. Betting continues until all
   bets are called.


4. The River: Here the final community card is shown, and
   the last round of betting takes place. The bet amount for fixed limit
   games is still the big stake.


5. The Showdown: All the bets have been called, it is
   time to show the cards. The last player to bet or raise during the final
   betting round will show their hand first. If all the players checked through
   (nobody bet), the player to the left of the dealer will show first. The
   remaining players’ hands will be automatically revealed moving clockwise,
   unless a hand is weaker than the winning hand shown. In this case, you’ll
   have the option to show, or muck (fold without showing). The best five
   card hand takes the pot..


6. Buying the pot: If during a betting round you make a
   bet and all players fold to you, you have bought the pot. You have
   the option to show or muck your cards.

August 25, 2005
(update)
2005 World Series of Poker Tournament of Champions to be Held Nov. 6-8 at Caesars Palace in Las Vegas

LAS VEGAS--Harrah's Entertainment, Inc. (NYSE:HET) said today the World Series of Poker 2005 Tournament of Champions (TOC), a $2 million, free-roll tournament, featuring a select group of poker's biggest names, will be held November 6-8 at Caesars Palace in Las Vegas.

The final nine players from the World Series of Poker's 2005 main event are eligible to join more than 100 top players who qualified for the TOC at five World Series of Poker Circuit events earlier this year. The event will be taped for telecast by ESPN.

Among those eligible to participate in the TOC are top-ranked professional players, such as: Phil Ivey, Howard Lederer, Antonio Esfandiari, Jennifer Harman, T.J. Cloutier, Chris Ferguson, Robert Williamson, Russ Hamilton, Yosh Nakano, Michael Mizrachi, Tony Le, Eric Cloutier, and Mimi Tran.

Other qualifiers include reigning WSOP Champion Joseph Hachem, who won $7.5 million at this year's main event, and fellow final-table millionaires Steve Dannenman, Derek Barch, Aaron Kanter, Andrew Black, Scott Lazar, Daniel Bergsdorf, Brad Kondracki, and Mike Matusow.

The TOC is a free-roll event - players aren't required to put up any of their own money to enter - that will award $2 million in prize money. First prize will be $1 million, second $325,000, third $250,000, fourth $150,000, fifth $100,000, sixth $75,000, seventh $50,000, and eighth and ninth $25,000.

"This Tournament of Champions is just one way of saying 'thank you' to the skilled and talented players who have helped make the World Series of Poker the richest sporting event on the planet," said Jeffrey Pollack, vice president of sports and entertainment marketing for Harrah's. "We're especially proud to host it at Caesars Palace, the premier luxury brand in the Harrah's portfolio."

Harrah's Entertainment, Inc., is the world's largest provider of branded casino entertainment. Since its beginning in Reno, Nevada 67 years ago, Harrah's has grown through development of new properties, expansions and acquisitions. On June 13, 2005, Harrah's Entertainment acquired Caesars Entertainment, Inc., and now owns or manages through various subsidiaries more than 40 casinos in three countries, primarily under the Harrah's, Caesars and Horseshoe brand names. With nearly 4 million square feet of casino space, more than 40,000 hotel rooms and nearly 100,000 employees, the Harrah's portfolio is the most diverse in the gaming industry. Harrah's Entertainment is focused on building loyalty and value with its customers through a unique combination of great service, excellent products, unsurpassed distribution, operational excellence and technology leadership.

Contacts
Harrah's Entertainment, Inc., Las Vegas
Daniel Foley, 702-407-6370 (Investors)
Alberto Lopez, 702-407-6344 (Media)

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August 23, 2005

Jewish Big Brothers Big Sisters of Los Angeles (JBBBSLA) is hosting its second annual poker tournament at The Hollywood Park Casino on September 29.

The event will kick off at 5:30 pm, with dinner and poker instruction, after which the main affair, a no-limit Texas hold'em tournament, will take place. The JBBBSLA, an organization offering mentoring services and social activities to underprivileged inner city youth, has posted the tournament buy-in at $200, with a top prize of $5,000 up for grabs. Tournament organizers expect approximately 150 to 200 players to participate.

"Over the past 90 years, JBBBSLA has relied on volunteer mentors to serve the thousands of children that have benefited from our mentoring-based programs, and it is through events like this that we say thank you to existing volunteers and welcome new ones into our organization," commented JBBBSLA CEO Margy Feldman.

For more information on participation and sponsorship in the poker tournament event, contact Rebecca Rauh at (323) 761-8675 ext. 30.

August 12, 2005
Chris Moneymaker, founder of the MoneyMaker eCommerce website, has made an agreement with bep Consulting to give the site an overhaul. The site offers players a Texas Holdem poker experience and bep, an interactive marketing firm, has been engaged to increase the sites revenue.
The site is hoping to attract a younger audience, the updated site will be hoping to use the latest marketing technology and celebrity branding to appeal to the 18-34 male demographic.
“When I started Moneymaker Gaming, I could have selected any consulting company in the country. I quickly became convinced that bep could best capture the essence of today's poker world. Hard core poker players understand that the style of the experience is just as important as the game itself to those who are playing it, and bep delivered that for Moneymaker Gaming,” said former World Series of Poker winner, Chris Moneymaker.