When you play poker in a casino, there are official rules that must be followed. These are set out by the cardroom and a floorperson or supervisor must make rulings on any questions that arise. It’s also a good idea to have the game’s rules written down for everyone’s reference. These can include rules on how much you can bet, raising or folding a hand and any other important aspects of the game.

Most games of poker are played with chips that are color coded. A white chip is the lowest-valued unit and is worth one minimum ante or bet. The next highest-valued chip is a red, and then a blue. Depending on the game, a player may use two or four or five of these chips to represent their bets or raises.

Unlike cash games where players can win or lose any amount of money, tournaments have a definitive end. Players pay a fixed buy-in and then play for a prize pool that includes a share of the initial investment. It’s not uncommon for a top tournament finisher to quadruple their initial purchase.

The most popular format is the freezeout tournament, which can range from a small number of players to thousands like the World Series of Poker Main Event. This format has a distinct beginning, middle and end and provides some more drama to the game than a cash game. This is the format that Chris Moneymaker used to win $2.5 million in a single WSOP event after qualifying online for just $40.