Once you have folded your hand it is placed in a pile of other discarded hands (known as the muck) by the dealer. Any money that you have already contributed to the pot is lost. If you do not like your hand you can fold, relinquishing your cards and taking no further part in the hand. Let's start with your options when someone has already placed a bet (known as opening the betting).
In poker there are only five different betting actions to remember, depending on whether or not anyone has already made a bet on this round.