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Many real games of this period were played with open stakes, but too many scams, kited checks, deeds to twice-mortgaged farms, and other dubious IOUs eventually led to the near-universal adoption of table stakes. Each player starts every hand with a verifiable stake on the table, and at no point during the hand may she remove money or chips from her stack or add any more from her purse, let alone from a banker across the street.
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But once she goes all in, she retains full equity in the main pot as whatever side pots among better-funded players keep building. The most obvious reason not to play for open stakes is that it would be impossible for the wealthiest person at the table — or the one with the healthiest line of credit — to lose.
This is to prevent people from squirreling away winnings and only keeping minimal amounts at risk. The idea is that after you've won, the winnings have to remain available for opponents to win back, until you declare yourself done for the day.
That way, the worst case scenario is that you will leave with the same amount of money in your pocket as you arrived with. In fact, you will sometimes see new players try to do this, not knowing better. Poker rooms treat that in the same way as if you had left and come back to that different game on a separate day.
However, you may have some other options. In most poker rooms, you can cash out and go do something else for some period of time, most commonly one hour. Whatever you have in front of you when the cards are dealt is what you have at stake for that hand.
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By logical extension of that principle, it is also the case that "table stakes" means that you can only win from each opponent the amount that you have in front of you at the beginning of the hand, and, conversely, you only put that amount at risk. Robert Woolley lives in Asheville, NC. Want to stay atop all the latest in the poker world? Presume that thither are wagon win to cum. Ppoker vocation with a lesser script, but pok er release a pot wagon would birth won.
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