Play begins by dealing two cards face down to each player; these are known as "hole cards" or "pocket cards". This is followed by a round of betting. Most Holdem games get the betting started with one or two "blind bets" to the left of the dealer. These are forced bets which must be made before seeing one's cards. Play proceeds clockwise from the blinds, with each player free to fold, call the blind bet, or raise. Usually the blinds are "live", meaning that they may raise themselves when the action gets back around to them.

Now three cards are dealt face up in the middle of the table; this is called the "flop". A round of betting ensues, with action starting on the first blind, immediately to the dealers left. Another card is dealt face up (the "turn"), followed by another round of betting, again beginning to the dealer's left. Then the final card (the "river") is dealt followed by the final round of betting. In a structured-limit game, the bets on the turn and river are usually double the size of those before and on the flop.

The game is usually played for high only, each player making the best five-card combination to compete for the pot. Players usually use both their hole cards to make their best hand, but this is not required. A player may even choose to "play the board" and use no hole cards at all. Identical five-card hands split the pot; the sixth and seventh cards are not used to break ties.