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Fundamentals of Poker - Limit Texas Holdem Mason Malmuth Two Plus Two Magazine, Vol. When this happens, the pot is split. Fixed-limit hold ’em games have a two-tiered betting structure, with the lower limit used in the first two betting rounds and the higher limit (which is usually double the lower limit) used in the final two rounds.

• Pot Limit Poker
• Holdem Poker Betting Rules
• Limit Poker Betting Rules

In addition to the many forms of poker, there are also several betting variations that are played. In our rules of poker lesson we explained how to play Texas hold’em but we didn’t mention the betting limits in our example hand, as it may have been a case of too much, too soon. In this poker lesson we’re going to use hold’em as the game format – but this time using the different betting variations; fixed-limit, pot-limit and no-limit.

For simplicity we’ll assume a hold’em poker game with a small blind of $1 and a big blind of $2. While the three different betting structures will all be posting the same amount, you’ll see a big difference in how the games will play due to the different betting variations.

Fixed Limit

In fixed limit, as its name implies, one’s choice of how much to bet is fixed by the stakes. Using our example of $1 and $2 blinds, the player “under the gun” (this is the first player to the left of the big blind) has three options.

• He may call the $2 big blind.
• He may raise but is only permitted to raise $2 as the limits are fixed.
• He may fold and sit out this hand and wait for a new deal. He may not check as the purpose of the blinds is to create the initial action.

If anyone wishes to raise then they can only do so in increments of $2, as shown here:

After this first round of betting the dealer delivers the flop. Players are still limited to a maximum bet of $2 and raises of $2. However, on the turn and river the betting amount doubles, so in our example the betting would now be in $4 increments. These are known as ‘big bets’. There isn’t a choice of betting either $2 or $4. If one now wishes to bet, the amount must be $4 and raises must be in $4 increments. In fact, a fixed limit game with blinds of $1 and $2 is called a $2-$4 game due to the early betting rounds being limited to $2 and the last two rounds doubling but limited to $4.

In fixed limit games, each round of betting usually has a maximum number of allowable raises, which is generally capped at three. If there’s a bet, it can usually only be raised three times, after which all players must call, or fold. In a $2-$4 game the most a player could wager on the first two betting rounds would be $8 (a call, raise, raise, raise) and $16 on the turn and river, if the betting was capped. It’s worth pointing out that some venues will allow more than 3 raises per betting round, so be sure to know the house rules before you sit down and play.

It is generally believed that the primary strategy for a fixed limit hold’em poker game stresses the importance of value betting. We will be explaining and expounding upon value betting and other strategic nuances of poker in later lessons but for now just know that value betting occurs when you actually want your opponents to call your bets as you believe you hold the best hand. So just save this little nugget of information for later in your poker development.

It’s also worth briefly mentioning a variation on fixed limit called spread limit poker. It’s very similar to fixed limit except the amount of the allowable bet is fixed to a range rather than a particular amount. For example in a $1-$3 spread limit poker game you have the option to bet or raise anywhere from $1 to $3. The normal restriction is that each bet or raise must be at least the size of the previous bet or raise. For example if the action is on you and an opponent raised $2 you could not re-raise $1. Your options for re-raising would be either $2 or $3.

Pot Limit

In pot limit play the amount a player can wager is determined by the size of the pot, hence the name pot limit. Pot limit play can get a whole lot pricier than limit play. As the size of the pot grows, the size of the bets can also increase. Let’s review an example using the same stakes of a $1 and $2 blind structure, as we did in limit play.

In pot limit the first player to the left of the big blind has the same options as the player in fixed limit in terms of calling, raising or folding. The difference is in how much he can raise. Calling would simply be matching the $2 posted big blind. Folding requires nothing but mucking (throwing away) your cards. If the player wishes to raise he can raise to a total of $7. How that number is arrived at is as follows: small blind bet of $1 plus the big blind bet of $2 plus a call of $2 equals $5, which would be the raise. The raiser is then calling $2 and raising $5 for a total of $7.

To demonstrate the dramatic difference between our first variation of betting in fixed, let’s see what can happen after the flop in pot limit.

With $31 in the pot, the first player can bet anywhere from $2 to $31. The next player has several options, but if he wishes to raise then the minimum amount he can raise is the size of the previous bet. The maximum he can raise is $93 more ($62 in the pot, plus the call of $31), meaning his total bet would be $124. Wow, this could get expensive!

The thing to remember in pot limit is a player who wishes to raise first counts the amount he would need to call and adds it to the pot and then can raise the size of the pot. As you can see the betting in pot limit hold’em can escalate much quicker than in fixed limit hold’em. The emphasis in pot limit is placed on post flop play. The reason for this is that you can normally see flops fairly cheaply before the pot grows to the size where raises can get pretty expensive. So our nugget to remember at this juncture for the betting variation of pot limit is to focus to strong post flop play.

No Limit

No limit hold’em has been called by many but most notably, Doyle Brunson (legendary poker player), as the ‘Cadillac of poker’. Its name says it all – there is no limit, except the size of the blinds. Still using the same blind structure as $1 and $2, the first player to act can call, fold or raise. The difference from the other two structures is that a player can raise a minimum of the size of the big blind, but his maximum allowable bet is only limited to the chips he has in front of him at the table (the amount he started the hand with). If there has been a bet beforehand, then the minimum raise amount would be the size of the previous bet. For example, if a player bets $50 then if the next player wishes to raise he must bet at least $100. This is the same as in pot limit, but with one big different, there is no maximum limit.

To use an extreme example to demonstrate the dynamic this format of betting offers, let’s imagine a player in the same $1 small blind and $2 big blind game that happens to have $10,000 in front of him. The action is on him and if he wishes to play he must at least call the $2, however he can elect to raise his entire $10,000!

So you thought pot limit could get expensive – not compared to no limit.

Please bear in mind that although this player has gone all-in for $10,000 – it’s really only $200 – which is the total amount the other player can wager. He can’t win money that another player doesn’t have, and vice versa. This is not like the movies! If you recall the scene from the classic western comedy ‘A Big Hand for the Little Lady’ – she gets up during the middle of a poker hand and runs to the bank to get the deed for the ranch – to call someone’s bet. Well, you can’t do that in Texas hold’em. You can’t do that in any casino anywhere in the world. Poker is always played at table stakes, and table stakes means you can only wager the amount of money you have in front of you when the hand begins. You can’t reach into your wallet mid-stream and pull out more money. You certainly can’t run and get the deed to your ranch, and toss that into the pot – or the keys to your BMW, as a way of calling a bet. That’s the movies – not real life!

Conclusion

The betting variations described in this lesson are listed in order of excitement, danger, risk and reward. The first variation, fixed limit is safer than either of the other two due to the limit which can be bet. As you can see both pot limit and no limit can become daunting as the amounts bet and raised can escalate very quickly. Which you may favour becomes a matter of taste. Some prefer the smooth, relaxing ride of a carousel while others crave the adrenalin rush offered by a roller coaster.

By Tom 'TIME' Leonard

Tom has been writing about poker since 1994 and has played across the USA for over 40 years, playing every game in almost every card room in Atlantic City, California and Las Vegas.

Omaha hold’em, often called simply Omaha, is an exciting poker game that is strikingly similar to Texas hold’em, although it does have a number of differences to set it apart.

Unlike Texas hold’em, a game in which the preferred betting structure is no-limit, the most popular betting structure of Omaha games is pot-limit. Games of this type are referred to as pot-limit Omaha, abbreviated as PLO poker.

The first major difference you’ll instantly be aware of when playing PLO poker instead of hold’em is that each player is dealt exactly four hole cards instead of two. However, players don’t use all four hole cards to make a hand because they can only use two of them. In fact, players must use exactly two of their hole cards along with three of the community cards to make a five-card poker hand.

For example, if a player holds — a strong starting hand in pot-limit Omaha — and the five community cards read , the player does not hold a flush despite holding the . Neither does the player have a Broadway straight. The player actually only has a pair of kings with an ace-kicker. This may seem a little confusing when you first sit in a PLO game, but it quickly becomes second nature.

What is PLO?

Main Differences Between PLO Poker and Texas Hold’em

Besides starting with four hole cards rather than two, there are a few more differences between PLO poker and Texas hold’em. One such difference is that preflop hands in pot-limit Omaha run much closer in terms of equity than they do in hold’em. In hold’em, a hand such as is an 82.36% favorite over before the flop, but in PLO poker a hand such as will only beat 59.84% of the time.

This closeness in preflop hand strength is one factor leading to players playing more hands, seeing more flops, and PLO being more of a drawing game than hold’em is, which in turn creates larger pots with the majority of the chips often going into the pot after the flop is dealt.

Another key difference is the fact you generally need a stronger hand at showdown to win at pot-limit Omaha than you would in a Texas hold’em game. In hold’em, it is not uncommon to win a hand with two pair or even a single pair, but in PLO poker these hands are rarely the best by the river.

The other significant difference between pot-limit Omaha and no-limit Texas hold’em is the betting structure. In no-limit hold’em, players can bet any amount they wish, up to the size of their stack. PLO, however, is “pot-limit,” meaning players can only bet the total size of the pot including their call.

Imagine a PLO poker hand that is contested between two players. The pot has $100 in it, which means the maximum the first player can bet is $100. When it is the second player’s turn to act, that player can only bet a maximum of $400. This is worked out by adding the initial size of the pot ($100), plus the size of the opponent’s bet ($100), plus the second player’s call of the first bet ($100). This equals $300, which when added to the $100 call makes the maximum bet $400.

While this can be confusing until you are used to playing the game regularly, when playing PLO online you can simply click the “pot” button and the software figures out the correct amount for you. In a live PLO game, if you announce “pot” before betting the size of the pot, the dealer will assist with the calculations.

Basic Pot-Limit Omaha Strategy

Pot-limit Omaha is a complex game, which makes it difficult to come up with the perfect strategy for playing it. However, there are a number of pointers that you can remember that can form the basis for a solid PLO strategy:

• Be patient with your starting hand selection. Don’t fall into the trap of thinking that any four cards are worth playing.
• A bare pair of aces isn’t as good as in hold’em. Two aces can help form a strong preflop hand in PLO poker, but unless they improve on the flop you’re unlikely to win the pot, especially in a multi-way contested pot.
• There is less bluffing in PLO poker. While bluffing does occur, it’s less prevalent in most players’ PLO strategy than happens in hold’em; a show of strength in PLO is likely to be a strong hand.
• Draw to the nuts. Although there are times when you can play a weaker draw aggressively, drawing to the nuts is the best idea.
• Stop thinking like a hold’em player. Many PLO players come from a no-limit hold’em background and play the game as such. They’ll overvalue one-pair and two-pair hands, as well as open-ended straight draws (with eight outs). The latter is particularly problematic, since in PLO it is possible to have “wrap” draws with up to 20 outs with the perfect hole card and community card combination!

A Crazy PLO Hand in Action

Best Starting Hands in PLO Poker

Like other variants of poker, PLO success begins with solid starting hand selection. The very best PLO players in the world play a wide range of hands, but those new to the game should stick to hands that are stronger and therefore easier to play.

The best PLO poker starting hands are those that have a big pair in them and some connectedness that allows them to improve preflop. Ideally, your hands will be what is known as “double-suited,” meaning you have the chance to flop two different flush draws. E.g., is a nice double-suited starting hand with a big pair.

Computer simulations show that double-suited is the best pot-limit Omaha starting hand. Flopping a set with this hand means you’ll always have top set, while any flush draw will be to the nuts. Other strong hands containing a pair of aces include and , while double-suited run-down holdings such as are also very playable.

Final Considerations

As you have probably gathered, PLO is an exciting game that creates big pots, and sees players make big hands regularly. As great as this is, the big thing you need to consider is playing PLO requires a larger bankroll than hold’em variants mostly because of the closeness in strength of hands both preflop and postflop. It’s common to not have more than 60% equity on the flop against a single opponent, which can and does lead to some crazy swings! When you run good at PLO, you usually run very good, but the flipside is also true.

Pot Limit Poker

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