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Today, when someone asks if you play poker, they generally mean Texas Hold ‘Em – a game that’s become increasingly popular over the past decade thanks to the World Series of Poker and movies like “Rounders.”

But there are many versions and variations of poker, the main types being stud, draw and community card games. At “friendly” tables, the dealer often has the choice of deciding the type of game. More structured tournaments usually specify the format from the get-go.

Typically, five or seven cards are dealt to each player. Players attempt to form the best five-card poker hand possible (see below). For every poker game, the same hierarchy of hands exists, and the better hands are rarer and more difficult to achieve than the lesser hands. Individual cards are ranked from best to worst. Rank of poker hands. The rank of standard poker hands is determined by their odds (probability). Two or more identical hands tie and divide any winning equally. The suits have no relative rank in poker. When there is any wild card in the game, the highest possible hand is five of a kind, which beats any straight flush.

Below are a few of the most popular versions of poker that you may encounter at your weekly dealer’s-choice poker game. If you don’t know these, you’ll be at a disadvantage when something wild (like FOLLOW THE QUEEN!) is called.

Common terms you should know

Before we dive in to the specific games, there are a few terms every player (and prospective player) needs to know:

Ante – the minimum amount you must gamble to get into the action of the game.

Blinds – money (generally in chip form) put on the table before the cards are dealt; there are typically two blinds (called the “small” and the “big”) and ensure money is being wagered with each hand; blinds rotate from player to player with each new deal.

Call – when a new wager has been placed, a “call” indicates that player’s willingness to match the raised amount.

Check – if no new wager has been made and the player doesn’t wish to raise, they may “check”.

Raise – the player wishes to increase the table bet.

For a more complete list of poker terms, check out Wikipedia’s glossary of poker terms.

Popular poker games

In “stud” games, players are dealt a number of cards (typically 5 or 7) and must use those original cards to make their best hand.

In “draw” games, the players may decide to trade in some of their cards (generally up to 3) in an effort to improve their hand.

In “community card” games, the players are dealt “hole cards” face down (cards that are uniquely theirs) then play off the community cards to make their best hand. What makes them “community cards?” The other players at the table also may play off them.

Texas Hold ‘Em

Played in the World Series of Poker, Texas Hold ‘Em is easily the most popular poker game in America today. In Texas Hold ‘Em, players are dealt two “pocket” or “hole cards” then wait for 5 community cards to be revealed.

Betting takes place in four rounds: once after the hole cards are dealt, once after the first three community cards are revealed (referred to as “the flop”), once after the fourth community card is revealed (“the turn”) and lastly after the fifth community card is flipped (“the river”). Players must make their best hands with any combination of 5 cards (their hole cards and the communal).

Omaha

Omaha is another type of Hold ‘Em that can be played by 2-10 players at a time. Like Texas Hold ‘Em, there are four rounds of betting, but unlike that version, each player is dealt four hole cards and the five community cards are immediately revealed. Players must make their best 5-card hands from two of their hole cards and three of the common.

7-Card Stud

In 7-Card Stud, each player is dealt 7 cards, three down and four up. Players must make best possible 5-card hand from their 7.

5-Card Draw

Each player is dealt 5 cards, but on the initial go around, the player may choose to trade in up to 3 of them.

High / Low Chicago

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This stud game can be played for the highest hand or the lowest. In High Chicago, the player with the highest spade face-down wins half the pot. In Low Chicago, the player with the lowest spade face-down wins half the pot.

The other half of the pot is won by the player with the best hand. If someone, however, has the best hand and the winning spade (high or low, depending on version), that player will win the entire pot.

This game can be added to, and played simultaneously with, many other poker variations.

Follow the Queen

This is a 7-card stud poker game in which the wild card is designated to be the next exposed card after a queen is flipped. If no queens are flipped, there are no wild cards that hand.

And keep in mind there are almost infinite ways to win at poker, and many rules are malleable. It is important to know the specific guidelines of the game you’re in…

For example, be sure to know:

If a high hand or low hand wins in your game (some games offer hi/low, in which the high hand and the low hand split the pot).
If an Ace is high or low.
If there are wild cards.
If there is a pot limit (how much money can be wagered on any single hand).
If the deck is a typical 52 or some other amalgamation (for example, a “royal deck” uses two decks but only cards 9-A, which results in a deck of 48).

At Clearwater Casino Resort, one of the top Seattle casino resorts, we offer 3-card poker on the floor as well as regular poker games and tournaments in our Poker Room where we pay out more than $50,000 in tournament cash every month!

I am not a gambler — at least in the truest sense of the word. Yes, I take risks in business, but these are highly calculated risks in which I have an ability to impact heavily through work ethic and dynamic adjustment methods. Even when I travel to Las Vegas with friends and business partners, I stick to the slot machines because I have figured out the probability based on consistent plays — so I always win. With that being said, there are actually people who earn a living playing poker. When I say earn a living, I mean a living that is beyond the earning status of 95 percent of the U.S. population. Poker is not only a game of skill, but it requires the ability to remain calm as to not tip your hand, as well as know how and when to bluff your opponents.

To give you some insight into just how lucrative professional poker is, we decided to list the 10 richest poker players in the world.

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10. Joe Hachem – $12 Million

Joe Hachem was once a successful chiropractor until he found out that he could make substantially more money as a poker player. Actually, certain health conditions also played a role in Joe walking away from his practice. He has won a number of tournaments over the last decade including a $7.5 million purse from the World Series of Poker. He has amassed a net worth of $12 million.

9. Jamie Gold – $13 Million

Jamie is considered one of the most balanced players in the game. He can be very aggressive at times and then switch to a conservative posture with little to no effort. Whether displaying aggression or being conservative, he always has a calmness about him that is indicative of the confidence in which he plays the game. He has a couple of world titles under his belt and he currently has a net worth of $13 million.

8. John Juanda – $13.2 Million

When it comes to poker players in Indonesia, John Juanda reigns supreme. He dabbles in other areas of interests, including business and athletics, but poker is what supports his lifestyle. One thing that John is recognized for in his poker play is his ability to maintain his composure no matter what the current situation. He was won three world titles so far, amassing a net worth of $13.2 million.

7. Michael Mizrachi – 14 Million

If you think that poker players cannot be intense and show emotion, then you have not seen Michael Mizrachi, who is so intense that he goes by the name of the “Grinder.” He is one of the most consistent players in the game. He does not win a lot of tournaments, but he always places high. He is always in the hunt. He has a current net worth of $14 million.

6. Phil Ivey – $15 Million

What may be most impressive about Phil Ivey is his age. At only 23, he is one of the youngest major players in the game at any level. He has already won a total of three world poker bracelets. He was already a millionaire while his contemporaries were rushing to their college classes. He currently has a net worth of $15 million, and that will likely grow substantially over the years to come.

5. Daniel Negreanu – $16 Million

Because of his composure and the confidence he displays in his decision-making, Daniel is viewed as the ideal role model for younger players to study and emulate. The reason for his confidence and demeanor is that he started playing the game at a very young age. He even dropped out of college to pursue a career in poker. Because of that decision, he has amassed a net worth of $16 million.

4. Phil Hellmuth – $16 Million

If you follow poker, then this a person who needs no formal introduction. He is, without question, one of the most popular poker players in the world. His skills are quite remarkable to the point that he is often compared to legends in other sports, such as Tiger Woods and Michael Jordan. His skills and consistency have led to constant climb in the net worth department, achieving a current net worth of $16 million.

3. Sam Trickett – $17 Million

Sam has been playing poker professionally since 2005, and he has achieved several notable accomplishments since then, including a total of eight major world tournaments — making him one of the most recognized and beloved figures in the sport. He entered the world of poker after he was forced to give up on football due to injuries. He has a net worth of $17 million.

2. Antonio Esfandiari – $23 million

This man has used remarkable skills and an incredible system of play to become the second richest poker player in the world, with a net worth of $23 million. He is known for being very bold in his decision making, trusting his skill set to get him out of tough situations. He has a very calm demeanor, which makes him very difficult to read.

1. Erik Seidel – $40 Million

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Without question, Erick Seidel is the most admired and revered poker player in the world, and based on his list of accomplishments, he has earned that honor. It is important to understand that while Erik has been very successful in poker, a significant amount of his assets come from investing in stocks, but the predominance comes from winning at poker a lot. He has amassed a net worth of $40 million.