Benefits of Billiard Chalk
There are two types of chalk that are used when playing Billiards. One type of chalk is applied to the cue tip. The other is rubbed onto the players palm. Both forms of Chalking help the Billiard players' game. Both also serve different purposes.
First we will start with why players chalk their cue tips so often. If you are a beginner, you will quickly learn how and when to use chalk. The primary function of chalking the cue tip is to prevent a miscue by the tip sliding off the ball. You will notice that most players will use chalk before every shot. On some occasions, more chalk will be applied if the shot being made requires English or some other type of spin. The application of the chalk will aid in your initial contact with the cue ball and will help to prevent you from making a bad shot. The most commonly seen little cube of chalk will become your best friend as you progress as a Billiard player.
Cue tip chalk is made by crushing silica and the abrasive substance corundum or aloxite into a powder and using forced air to achieve the desired consistency. It is combined with dye (originally and most commonly green or blue-green) and a binder (glue). Then a hydraulic press is used to compress the "chalk" into large cakes which are dried on a rack. The cakes are then cut into small cubes, dimpled on the top to receive the cue tip, and wrapped in paper sleeves. Each manufacturer's brand has different qualities, which can significantly affect your play. High humidity can also impair the effectiveness of chalk. Harder, drier compounds are generally considered superior by most players.
Another type of chalk used in the game of Billiards is applied to the hands. This is not seen as often, unless you are playing at an experienced or professional level. Many casual players opt to play bare hand without chalk or grip gloves. Hand chalk is used to reduce friction between the cue and the hand during shooting. It helps to give you a smoother stroke. Some brands of hand chalk are actually made from compressed talc. Hand chalk comes in two forms - as a solid and a powdery talc form. The cone-shaped chalk shown below is a popular style seen in many bars and pool halls. The portion of the hand that contacts the cue shaft is rubbed across the cone and the chalk transfers to the hand. The use of hand chalk or talc is entirely up to the player. Where cue tip chalk must be used, hand chalk is totally optional.
Don't ever overlook the step of chalking your cue tip before a shot. Chalking your cue tip is essential to playing the game and maintaining control over your shots. You will find that if this is omitted, the majority of your shots will be miscues and your accuracy will suffer.
Hand chalk is a personal preference. Many professional players prefer to use a slick pool glove instead of hand chalk or talc because of the messiness of the powders. Another way to avoid using hand chalk is to simply use a hand towel. All three of these will serve the same purpose of 
keeping your hands dry. The drier your hands are, the better control you will have over your cue stick, and the more accurate your shots will be.
keeping your hands dry. The drier your hands are, the better control you will have over your cue stick, and the more accurate your shots will be.