Users of a betting exchange system are permitted to bet on poker and other games in which the game has a number of rounds. For a Texas Holdem poker game, each round allows users to submit bets backing and laying one or more hands of cards during a betting window between game transitions, which result in the display to the plurality of users of selected hole or community cards, depending on the round. After each transition, the hands are evaluated to determine if there are any winners or losers and further betting on selected hands may be permitted, or the game may proceed to settlement.