In most instances, poker is played with chips. For games involving more than seven players, poker chips should be provided. Each player is dealt one chip – a white – worth five cents; one red chip is worth ten cents; one blue chip is worth two, four, or five cents; and so on. Players “buy in” to a game by purchasing poker chips. They typically buy in for the same amount.
The aim of the game is to form the highest-ranking hand by betting until all players are eliminated. When all players have dropped out, the winner is the one with the highest-ranked hand. The winning player receives the pot, or all the money that was bet during the hand. In the event of a draw, the pot is divided between the players. If no one has the highest-ranking hand, the winner of the game collects all the money bet during the hand.
The betting phases in poker vary from game to game. In most games, the dealer decides the stake amount. When the pot is large enough, all but one player is required to fold. If a player is unable to raise his stakes after three consecutive raises, he/she will be out due to lack of funds. The stakes in Poker are usually agreed upon at the beginning of the game. In general, players can raise their stakes up to their maximum amount three times during the betting phase.