How to Host a Texas Hold 'Em Poker Tournament

Before hosting a tournament, let's understand more about Hold 'em. To get started, the two players to the left of the dealer put out their blinds. Blinds are the bets, made before the cards are dealt. They help start the betting and set the standard minimum bet. The player to the dealer's immediate left places the "little blind" while the player two places over from the dealer places the "big blind." The big blind is the minimum bet and the little blind (or small blind) is 1/2 or 1/3 of that amount. Then the cards are dealt in the following order:

After each round of dealing, players can bet, raise the bet, check (pass the bet) or fold (give up the hand). Once the river card has been dealt (and betting is over), the remaining players show their cards and whoever makes the best five-card poker hand using their pocket cards and the cards on the table wins.

Typically, there are betting guidelines, based on what variation you're playing, such as:

Other interesting variations play by the standard Hold 'em rules with a few twists:

Aside from poker acumen, what do you need to host a successful Hold 'em tournament? First, know the law. Most U.S. states allow home tournaments as long as you don't profit off the gig. Check out local laws beforehand -- after all, a police raid ruins a good time.

Next, you need equipment; you don't have to spend a lot but if you'll be hosting tournaments on a regular basis, you may want to buy authentic supplies. Here's a checklist:

Actor Kevin Costner said in "Field of Dreams," "if you build it, [they] will come." So, now you need players. Typically, no more than eight to 10 people per table, and if you're new at this, start small with one or two tables. Decide on the entry fee for players, maybe $20 so it's affordable but still can generate a good payout. Assign the order of seating by having each player pick a card from ace through 10.

As the host, you have an important role. You set the start/finish times, and a courteous host sticks to these. You also decide the rules, payouts and formats played -- and you discuss them prior to play. Finally, you are judge and jury over disputes, bartender, waitress and the Master or Mistress of Ceremonies, responsible for a fun evening. Follow these tips and unlike Kenny Rogers, you'll have happy gamblers.