The most common way to play poker Hold’em is as a fixed-limit game, which means that all bets and raises are of a fixed amount. A common limit new players play is $2–$4, where the first two betting rounds allow bets and raises of $2 (called a small bet), and the third and fourth betting rounds allow bets and raises of $4 (referred to as a big bet). Most online poker card rooms allow a bet and three raises per betting round, so the maximum you can risk on a single hand of $2–$4 Hold ’em is $48 ($8 + $8 + $16 + $16). When you play on a site that allows a bet and three raises, you can figure out your maximum exposure on a single hand by multiplying the big bet by 12. If you play on a site that allows a bet and four raises per round ($10 + $10 + $20 + $20), multiply the big bet by 15 to find your total exposure per hand ($60 per hand at $2–$4).
You should also be aware that there is usually no limit on raises any time a betting round starts with only two active players. If you have a Royal Flush and your opponent wants to keep raising, you can raise back until one of you runs out of money.
