In poker, players compete to win a pot of money or chips contributed by all players. Generally, the best hand wins. The cards are dealt randomly, so each player attempts to control the amount of money in the pot based on the cards they hold and their predictions about the other players’ holdings. Whether playing in a casino, cardroom, or home game, there are a number of official poker rules that should be followed to ensure fair play for all players.
A single player should be designated as the banker to track the stock of chips and record how many each player has received. The banker may be paid in cash or other credit by players for the chips he or she handles. Players should not exchange poker chips among themselves or buy more than the amount they are allowed to receive from the banker. In addition, a special fund known as the kitty is usually established by agreement of all players to pay for new decks and other necessities. Any chips left in the kitty when the game ends are divided equally among all remaining players.
Poker chip values don’t correspond to any actual dollar amounts. However, they serve as a standard way to indicate amounts of money during play and to make it easier for players to communicate how much they are betting. Tournaments use different poker chip values and report their chip counts by prefacing them with T$, which stands for tournament dollars. This is necessary because tournaments are typically held in casinos or other establishments that require high denomination poker chips for participants.