Five Card Draw is one of the oldest and best known poker games. Outlaws and lawmen alike played the game, and the players took the game terribly seriously. The penalty for cheating was universal - two bullets in the chest! The game was heavily played during the Civil War, as soldiers had plenty of time to pass between battles. The game began to die out around the late 1890s, and Seven Card Stud began to become the dominant card game. However, the game is still played by select groups of poker players and is still available at many online poker rooms.
Five Card Draw is very simple to play and is extremely straightforward. The object of the game is to make the best five card poker hand. In the beginning each player places a small bet into the pot. After the antes each player gets five cards all dealt face down. After the cards are dealt, each player surveys his or her hand, and a round of betting occurs. After the betting has ended, the remaining players are allowed to trade up to three cards from their hand in exchange for new ones from the deck. Players are not forced to trade in any cards, and can continue to the next betting round with the same five cards they were dealt. After the players draw their new cards, another round of betting occurs, again starting with the player to the left of the dealer button. After the final round of betting, players then go to showdown, they must show their hands, and the winner is rewarded the pot.
Statistically, if you are dealt a pair, you should redraw all three of your other cards to try and make trips or better. The bigger the game, the more likely weaker hands may win. If the game has five or more players, perceived weaker hands such as two pair can often times win at showdown. Getting caught bluffing may help you in the long run; your opponents may label you as a bluffer and call you down more lightly. However, it is crucial to adjust to this, and tighten up your range slightly.
Though the game is not widely played anywhere online, it still can be found at many poker rooms. Your best bet to play Five Card Draw online would probably be PokerStars. The world's largest online poker room does occasionally get some draw poker action.