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Basic differences between Limit Hold'em and No Limit Hold'em

By Marc Weinberg

On the surface there appears to be little difference between the two most popular formats of hold'em, and certainly one finds that inexperienced and mediocre players (often in poker they are one and the same) do not alter their strategy regardless of whether it is limit or no limit. For these players it is simply a matter of looking at their hole cards, and then saying if they match up nicely with the board. If they do then they bet, and sometimes if they are feeling particularly saucy they check-raise. Otherwise they call until they are very sure they are beaten, and then they fold. Sure, the betting is not the same: in limit you can only bet a set amount that is dependent on the stage of the hand, whereas in no limit you can bet any amount of chips available to you at any point of the hand.

This subtle difference actually sets off a chain reaction of strategic shifts, to such an extent that limit hold'em and no limit hold'em almost become separate pursuits entirely once you delve deeper into the optimal strategies required to show a profit in each game. If you are a good limit player that does not mean you will be a good no limit player, and the reverse is definitely true. In no limit hold'em it is essential to know the pot odds, the implied pot odds (the expectation of future bets based on the board), and most importantly, one must know when and what to bet in order to maximize your advantage. One might say that there is less bad luck involved in no limit, but when there is bad luck the consequences are far greater than they can ever be in limit. In no limit you must pick your battles very carefully, because each one can escalate into a final war. In limit there is no such concern, merely a large number of small skirmishes that will either add up to booking a nice win or an unfortunate but by no means fatal blow to your bankroll.

In limit hold'em a hand like QQ is very tricky to play for a profit, especially in low or medium limit games. Once you are playing $30/$60 limit and above it may become slightly less traumatic to hold pocket Queens, because players tend to play more selectively pre-flop, but at lower levels it is a nightmare. Why? Well, let's say you are out of position and hold QQ. You should raise the pot, and if the betting has already been opened you should re-raise. But even if you are able to toss in two extra bets the chances are good that you will fail to eliminate a host of drawing hands, if players hold decent drawing hands. And if players do not hold those hands then they will all fold leaving you with a small win. If they feel like they can improve they will stay in because it is only one or two extra small bets. I am talking of Ax, or suited connectors here. What typically happens in limit games is that there is relatively little action pre-flop, so you will only be able to place one extra small bet in the pot with QQ, and you will then have to face anywhere from 2 to 5 opponents. The blinds love to defend in limit, and once someone calls they are nearly always willing to see a raise, at least until the turn when the betting stakes double.

The likelihood of at least one of those hands improving to beat you is so high that it makes QQ much less profitable than it should be, as the third best possible starting hand. Any A or K on the board will signal the end of the line, plus you have to withstand the potential assault from flush and straight draws. The fact that you tend to fall in love with big pocket pairs because you have read books on poker and know that these are meant to be the best starting hands in hold'em, ultimately costs you a lot of money in limit games. You end up with small wins and big losses when you have these hands, because you only get action when you are beaten. You are suddenly reduced to rooting for a third Q, as though you held 22 or some equally feeble pair.

In no limit hold'em a hand like QQ is a monster, and only needs to fear AA, KK, and super-aggressive play by AK, where it is still ahead going to the flop. If you are handed pocket Queens in early position you can raise the pot enough to chase out all those drawing hands immediately. And you should do so, because the added benefit is that there is a good chance that the only hands that will stick around will be medium pairs that you dominate, AQ or AJ, which you dominate as well, or very poor players with KQ or KJ. In no limit you have access to so much more information based on betting patterns that there is a far higher degree of skill behind every decision. So, if you are re-raised holding QQ by a tight, strong player who is suddenly placing a huge percentage of his chips on the line before the flop you might even lay this hand down. This could not happen in limit hold'em because at most you are being asked to put in one extra bet, which you would do even if you put your opponent on KK or AA. In no limit, this realization forces you to think hard about your hand, because your opponent has raised the stakes considerably.

In limit hold'em you are frequently justified in chasing a hand, and that is why medium suited connectors like 97 suited are often preferable to JJ or QQ. Why you may ask? Well, 97 suited is the type of hand that can win monster pots, and should never get you involved in monster losses. You can play the hand for an extra bet or two pre-flop, and if you hit the flop hard, with 6-8-5 or 7-7-x or a number of other excellent combinations you have great disguise - no one can put you on such a big hand until it is far too late and has cost them a number of bets. If you miss your flop, and with 97 you will miss it completely when you do miss, then you fold with little damage done. By contrast, you feel that QQ or JJ and even KK are such big hands that you are loath to muck them until the turn or the river, and by that time you are faced with a heavy loss. These hands rarely win big pots in limit games, but they can and do break no limit games wide open.

Your entire attitude has to alter depending on the format of hold'em that you choose to play. Limit requires less selectivity and the ability to move yourself off a hand when you feel that you have fallen too far behind. No limit requires a lot more patience and courage, and frequently you want action even when you are behind because when you do catch lucky or suck out you end up breaking an opponent and building up an enormous stack of chips. This was the primary observation made by Doyle Brunson, and it revolutionized no limit hold'em. He wanted action when he thought he had the worst of it, because it gave him the chance to break opponents, something that can never happen in one hand of limit (at mortal levels, not the private Vegas game levels of Reese, Greenstein, et al), and it also established a table reputation as a loose cannon.

For most of us it makes little sense to play this way in structured limit games because we send opponents the wrong message - not one of courage, but of weakness or lucky play - and we can never hope to break them in any one hand. Instead one needs a series of consistent victories to be a successful limit player, which is why playing like a rock or weak-tight in limit will never earn you a profit in the long run.







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