Pot-Limit and No-Limit Texas Hold'em
Usually, a poker game, particularly Texas Holdem, is played either low-limits or higher-limits. These two betting rules are actually the same except for the amount involved. That is, in low-limits $2-4 poker game, the players must place bets in the first two rounds equal to an amount which is $2 or less. And in the last two rounds, the players must place bets equal to an amount which is $4 or less.
In higher-limits game, the range is simply higher, such as $6-10. This means that in the first two rounds, the maximum betting limit is $6 and in the last two rounds, the maximum betting limit is $10.
Aside from these two, there are two more betting variations. These are pot-limit and no-limit. With these two betting variations, the poker players essentially do not have betting limits for each betting round.
In pot-limit, the poker players are allowed to bet any amount as long as it does not exceed the amount of money already in the pot. This means that if the pot has $10 in it, one poker player can bet $10, doubling the amount of the pot. And if one calls this bet, the total amount in the pot becomes $30. The next poker player may bet any amount up to $30.
In no-limit, there is virtually no maximum amount fixed for the bets that can be made by the poker players. This means that a poker player may use all his chips to make a bet. Obviously, pot-limits and no-limits involve high stakes and the poker players who are involved in them are most probably expert poker players.
Therefore, the novice player must avoid pot-limits and no-limits. He will certainly lose a lot of money. But when he has acquired enough live poker experience and can no longer be classified as a newbie, then perhaps he should try pot-limit or no-limit just for the sake of knowing what it is like to play in these high stakes poker games. Perhaps, he may find that his personality is fit for such poker games. Or perhaps not.
In pot-limit or no-limit Texas Hold'em, the one limit to the bets made by the players is the “table stakes”. The table stakes is a rule that prohibits a poker player from adding more money (from his pocket) to the chips and money that he has originally declared to use during the poker game. The rule of table stakes effectively prevents the bets and raises to skyrocket to unbelievably high amounts.
