So, what is a Set Limit? Basically this is when a group of players agree to both a minimum and a maximum wager so that each player is able raise their bets to a powerful level. If you have a good hand you want to be able to make a good raise and capitalise on the game at hand. This will also intimidate others to fold increasing your chance of winning. By using a Set Limit, each player will enter a minimum ante so the pot has a bit of money to begin the game. Essentially, it’s a gentleman’s agreement that bets are relatively even througout.

The Straddle Method involves the first player to bet his ante and the next player doubles this amount before the game commences. This double up is called the Straddle and the next player can either double the Straddle bet or fold. The betting ends when there are no more raises or the agreed upon maximum bet has been reached.

The Freeze Out is similar to betting in a regular game however, bet amounts are agreed upon before hand and it’s understood that only one player will win the pot.

Running Out of Money is similar to the Freeze Out in that the betting amounts are similar to a regular game but if a player exhausts his funds during the game then a second pot is added for the remaining players.

New players should consider these tips to improve their game and have a chance at winning against the more experienced "poker sharks" out there. First of all, spend as much time as possible researching poker including the best strategies and how to identify and avoid the pitfalls. If you’re just starting out, set a limit to how much you are willing to spend. Make sure it’s a small amount you can afford to lose. Also, don’t play every poker game, sit some out and if you can, watch how other players work.

There are online courses and ebooks a new player can invest in but before you spend a penny on any paid "system", do a search for reviews on the system to make sure it’s not full of useless information.

The main message of this article is if you are going to wager your own hard earned cash in online poker, be sure you enter the game as prepared as possible and keep striving to get better each and every day.