When poker was new, apparently the dealer gave out five face-down cards to each player, and then betting took place, followed by a showdown. This soon became boring, as there was not enough information on which to base sensible bets. One of the earliest variations was the ability to exchange some or all of the cards in the hand for new ones. (Other variations, like stud, involved dealing some of the cards face up and dealing more than 5 cards from which to compose a hand).

Draw poker is thus perhaps the oldest form of poker still played today, and probably the most simple. It is the mainstay of many home games.

"Five-Card Draw" refers to the fact that five cards are dealt and that there is a draw. Under some rule variations there may be a limit of three or four on the number of cards that may be drawn. In any event, it is quite unusual for a player to draw a whole new hand, even if rules do not limit it.

Five-Card Draw is played with antes or blinds, and sometimes both. In casinos, it is common to play Five-Card Draw with blinds, as in Hold'em and Omaha. Home games often use the system of antes, which are usually a fraction of a small bet. Draw poker is played in limit versions (like $2/$4), spread limit, and pot limit. Usually raises are capped at three per round in Limit Five-Card Draw.

The dealer button rotates. The player to the left of the dealer or the big blind (depending on the betting structure) is "under the gun," and initiates betting action. The player to the dealer's left initiates action in subsequent betting rounds, regardless of the betting structure in use.

The main operating difference between using antes alone or having blind bets is that blind bets prevent players from checking in the opening round. They must either call the blind bet, raise, or fold. When the pot only contains antes, players can "check" on the opening round, and, if no one cares to bet, the hands are thrown away, and a new deal is commenced. In such a case, new antes are provided (doubling the primed pot), and the dealer button rotates, so a new person is "under the gun."

The dealer shuffles the deck prior to each round and "burns" the top card.

In the deal, each player receives five cards face down. (Remember, don't touch the cards until the deal is done.) Then betting commences. It is the first of a total of two betting rounds. In Limit games, the small bet is used for pre-draw wagers.

Then players receive replacement cards, in order, starting with the player to the left of the button. Everyone is entitled to know how many cards each player has asked for.

Then there is the second and final betting round. The big bet is the denomination for post-draw wagers. (A player can still go "All-in" if his or her stack fits within the applicable betting limits.)

If more than one active player remains at the conclusion of the second betting round, there is a showdown, also in order from "under the gun" to the left.