Cash games fundamentally differ from Tournaments in that they provide more flexibility to the participants in agreed-upon procedures. The house still controls certain aspects of the game (and dictates procedures in the case of disagreements among the group). I want a page which spells out some of these flexibilities and options, and how these choices affect the ensuing procedures.
For the most part our games run with standards established in other home game participants' games. However, read to the bottom of this list for a few twists we add to the mix.
One key component of any cash game night is how the betting structure is conducted. Limit games, pot-limit games, and no limit games all have a fundamentally different feel. Typically limit games run more quickly, the betting is less complicated, and the cash-out variance is smaller. No limit games and pot limit games are generally at the opposite ends of those characteristics. Between NL and PL, NL tends to have simpler betting and larger cash-out variance. Traditionally Limit games are games of trying to win bets. NL and PL games see players trying to win stacks.
Our limit structure allows for one bet and up to three raises on any given betting round ("street"). Contrary to tournament play, we allow folks to "burn up" raises by increasing the raise amount by the smallest chip in play ("raise by a biscuit"). There is a cap to the maximum allowed bet or raise.
No limit betting is much less constrained than either Limit or Pot-Limit betting. A player may bet any size between the smallest chip in play and the size of their stack. There are no restrictions on the number of raises on a betting round, and so there are no "biscuit" raises allowed.
Pot limit straddles Limit and No Limit betting, but is generally closer to No Limit betting. Pot Limit bets and raises are limited in maximum size based on the number of chips currently in the pot (in the case of a raise, the current pot includes chips as if the raiser has called all bets). Pot-limit betting is the most complicated of the three betting structures, but generally leads to the most interesting betting decisions as a hand plays out. Pot-limit betting generally prevents players from blowing opponents out of pots early in a hand (going all-in preflop, for example), and can protect certain types of hands from missing out on potential equity.
We've run cash games in a few different ways. The easiest method is to just have a dealer Ante for all players (that way when players want to take a break away from the table, there's no confusion with blinds or when they can be seated back at the table, etc). The typical dealer ante is two of the smallest denomination chips in play (though any number could be agreed upon). This is a mild concern for each of No Limit and Limit betting, but a primary concern for Pot-Limit structured games.
Because we typically play tournaments in our house (which are always played as table-stakes) we typically do not allow players go "go light" in a pot (bet and call beyond the number of chips they have in front of them in the hand, with the understanding that they will make up any shortfall out of their pocket after the hand is complete). The advantage to allowing folks to go light is not having to deal with side pots during all-in situations.
Stakes
In addition to the betting structure, the stakes at which the games are played are a fundamental aspect which determine participants and nature of an evening. Matching players to the stakes is a key consideration for the host.
The chips in play (coupled with the max bet size in the case of Limit betting) goes a long way towards determining just how much is at stake for an evening. Evenings played with 25¢/$1/$5 chips (typical Limit max bet set to $2) generally sees swings measured in terms of a few Jacksons. Evenings with $1/$5/$25 chips are generally measured in Franklins.
Buy In
Another stakes consideration is the amount of a buy-in and the amount of a re-buy-in. Uncapped buy-ins/re-buy-ins lead to more money on the table at the end of the night compared to evenings where folks start with 40-50 times the smallest chip in play ($20). Re-buy-ins can also be artificially-hard capped or tied to the largest chip stack at the table. Buy in amounts are of more importance for No Limit and Pot-Limit evenings than for Limit evenings.
We pay out on the whole dollar only. Typically the bank rounds up or down as appropriate. When cashing out at the end of the night, we could race off the last even dollar (a la the tournament chip race procedure when coloring up).
No juice, rake, vig, or other money is ever taken out of the pot to be kept by the house. All money gambled is in play and shall be returned to the involved players.
Games are chosen by the current dealer. Games must generally be poker in nature (played with poker rankings determining the order of hands or other frequently-used systems at casino poker tables: 2-7, A-5, Badugi style of lows are all acceptable). The pot must be awarded based on one deal of the cards (no multi-stage games as in Guts or Acey-Deucy). The pot must be generated only through betting (no games involving paying for cards or replacements). To award the pot, cards speak only (no Hi/Lo declare split pots).
On any given evening we may or may not play with additional proposition aspects such as those listed here.
Upon winning two hands in a row the winner is forced to purchase The Rock (either from the bank if this is the evening's first occurrence, or from the current holder at the table). The Rock is valued at $1 in the game and at the end of the evening the holder of The Rock shall be awarded $1 cash.
To put The Rock in play, the winner must win some part of the first pot and participate in the winning of the high half, most-hole card half, or least-advantageous-positioned half of the second pot (i.e., be eligible for an extra chip were there to be an extra chip).
In any game before seeing their cards, the holder of The Rock may use it as a preflop bet. By betting The Rock, this player acts after the BB in order of preflop betting. The Rock acts as a third blind (and counts as the original bet, not one of the three raises allowed on that street). The Rock is a live bet (as would be the Big Blind) which means that The Rock holder can raise if all other participants in the pot have only called or folded.
A player may not bet the rock (other than as a preflop straddle) in a pot unless they are all in. A player does not receive change when using The Rock in this fashion — The Rock may act as a fourth (and final) raise under these circumstances.
The winner of a pot containing The Rock is the new holder of The Rock. They may spend The Rock by betting it (as above), being forced to bet it (as below), or by a different player winning two pots in a row (in which case it must be purchased from them).
If a player holds The Rock as the dealer, they are forced to use The Rock that hand.
Increased Max Bet Token
For Limit games only, players may be given a token allowing a larger-than-allowed max bet size (to be used either as a bet or raise). For instance if the max bet is $2, players may have a token allowing for a $5 bet. Typically these are given out with the initial buy-in chips, and are periodically replenished (such as when 2/3 or 3/4 of the tokens have been used). Tokens have no value of their own, they just allow putting in a larger expenditure.