Poker is a card game in which players wager money, or chips, on the outcome of a hand based on the ranking of their cards. The player with the highest-ranking hand wins the pot, or the sum total of bets placed during a betting round. This is achieved through a combination of probability, psychology and game theory.

After the players have received their two cards, betting begins in one of the several betting intervals imposed by the variant of the game being played. This initial round of betting is usually initiated by the forced bets made by the two players to the left of the dealer, which create a pot and give the players an incentive to compete.

When a player places a bet, the other players must choose whether to call it or to raise it. Players who raise a bet price other players out of the pot by making it more expensive to participate in the hand. This makes it more likely that the player will be able to form the best hand at the end of the betting.

A good poker player must be able to recognize when their hands are strong and when they’re not. In addition, they must be able to decide quickly how to play their cards. For example, top players often fast-play their strong hands in order to build the pot and to chase off other players who are waiting for a better hand than theirs.