Posts tagged as ‘pot limit’

Posted in Poker betting at 6:50 am on 28 Jan 2011

When a player is faced with a current bet amount that he has insufficient remaining stake to call and he wishes to call (he may of course fold without the need of special rules), he bets the remainder of his stake and declares himself all in. He may now hold onto his cards for the remainder of the deal as if he had called every bet, but he may not win any more money from any player above the amount of his bet.

For example, let’s assume that the first player in a betting round opens for $20, and the next player to bet has only $5 remaining of his stake. He bets the $5, declaring himself all in, and holds onto his cards. The next player in turn still has the $20 bet facing him, and if he can cover it he must call $20 or fold. If he calls $20, thus ending the betting round, instead of collecting all bets into the central pot as usual, the following procedure is applied: since there is an all in player with only $5 bet, his $5, and $5 from each of the other players, is collected into the central pot (now called the main pot), as if the final bet had been only $5. This main pot (which may include any antes or bets from previous rounds) is the most the all in player is eligible to win. The remaining money from the still-active bettors, in this case $15 apiece, is collected into a side pot that only the players who contributed to it are eligible to win. If there are further betting rounds, all bets are placed into the side pot while the all in player continues to hold his cards but does not participate in further betting. Upon the showdown, the players eligible for the side pot—and only those players—reveal their hands, and the winner among them takes the side pot, regardless of what the all in player holds (indeed, before he even shows). After the side pot is awarded, the all in player then shows his hand, and if it is superior to all others shown, he wins the main pot (otherwise he loses as usual).

There is a strategic advantage to being all in: you cannot be bluffed, because you are entitled to hold your cards and see the showdown without risking any more money. The players who continue to bet after you are all in can still bluff each other out of the side pot, which is also to your advantage since they reduce your competition without risk to you. But these advantages are more than offset by the disadvantage that you cannot win any more money than what your stake can cover. After all, the object of poker is not to win hands—it is to win money.

If a player goes all in with a raise rather than a call, another special rule comes into play. There are two options in common use here: pot limit and no limit games always use what is called the full bet rule, while fixed limit or spread limit games use either the full bet rule or the half bet rule. The full bet rule states that if the amount of an all in raise does not equal the full amount of the previous raise, it does not constitute a “real” raise, and therefore does not reopen the betting action. The half bet rule states that if an all in raise is equal to or larger than half the bet being raised, it does constitute a raise and reopens the action.

For example, a player opens the betting round for $20, and the next player has a total stake of $25. He may raise to $25, declaring himself all in, but this does not constitute a “real” raise, in the following sense: if a third player now calls the $25, and the first player’s turn to act comes up, he must now call the additional $5, but he does not have the right to reraise further. The all in player’s pseudo-raise was really just a call with some extra money, and the third player’s call was just a call, so the initial opener’s bet was simply called by both remaining players, closing the betting round (even though he must still equalize the money by putting in the additional $5). If the half bet rule were being used, and the all in player had raised to $30 instead of $25, then that raise would count as a genuine raise and the first player would be entitled to reraise if he chose to (this would create a side pot for the amount of his reraise and the third player’s call, if any).

When all players are all-in, or one player is playing only against opponents who are all-in, no more betting can take place. In a tournament, when this occurs, it is required that all players still playing flip up their hole cards even though the game may not be over yet. Likewise, any other cards that would normally be dealt face down, such as the final card in seven-card stud, are dealt face-up. These rules discourage collusion.

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia.

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Posted in Poker betting at 2:10 am on 23 Nov 2009

Queen of heart

Spread limit

A game played with a spread limit betting structure allows a player to raise any amount within a specified range.

For example, a game called “one to five limit” allows each bet to be anywhere from $1 to $5 (subject to other betting rules). These limits are typically larger in later rounds of multi-round games. For example, a game might be “one to five, ten on the end”, meaning that early betting rounds allow bets of $1 to $5, and the last betting round allows bets of $1 to $10.

Pot limit

A game played with a pot limit betting structure allows any player to raise up to an amount equal to the size of the whole pot before the raise.

For example, let us assume that there is $10 in the pot at the start of a betting round. The first player may open the betting for up to $10. If he does in fact open for $10, the next player may raise to $40 (after calling the $10 bet, the total amount of the pot is $30, so he may raise $30). The third player would be entitled to raise to $140 (after calling $40, the pot would contain $100, thus he may raise $100). Any player may also raise less than the maximum so long as his raise is equal to or greater than the immediately previous bet or raise.

In pot-limit hold’em and pot-limit Omaha, many structures treat the little blind as if it were the same size of the big blind in computing pot size. In such a structure, a player can open for a maximum of four times the size of the big blind. For example, if the blinds are $5 and $10, a player may open with a raise to $40. (The range of options is to either open with a call of $10, or raise in increments of five dollars to any amount from $20 to $40.) Subsequent players also treat the $5 as if it were $10 in computing the pot size, until the big blind is through acting on the first betting round.

No limit

A game played with a no limit betting structure allows each player to raise any amount of his stake at any time (subject to the table stakes rules and any other rules about raising).

This guide is licensed under the GNU Free Documentation License. It uses material from the Wikipedia.

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Posted in Community card poker at 6:00 pm on 22 Aug 2009

Because Manila has five betting rounds, it does not play well at no limit or pot limit. This can be easily modified by eliminating the betting round between the second and third community cards. So, each player is dealt two private cards and a single community card is dealt to the board, followed by the first betting round. Then two community cards are dealt, followed by a second betting round. Then a fourth community card and third betting round, a fifth and final community card and fourth betting round, followed by a showdown as above.

The three-card variant can be played this way as well (as with Manila, the player must use exactly two of his three hole cards with three of the board cards to make a hand).

This guide is licensed under the GNU Free Documentation License. It uses material from the Wikipedia.

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Posted in Stud poker at 10:17 am on 18 Aug 2009

Razz

Razz is seven-card stud played with ace-to-five low hand values. It is usually played with a bring-in, paid by the player with the highest-ranking upcard on the initial deal (aces are always low cards in Razz, even for the purpose of assigning the bring-in). On the second and subsequent rounds, the player with the lowest exposed hand starts the betting.

London lowball is seven-card stud played with ace-to-six low hand values. It is usually played at pot limit or no limit, and is otherwise identical to Razz.

Here’s a sample Razz deal (suits are omitted here because they are never of consequence in Razz; in London lowball, a flush cannot play as a low hand but otherwise they don’t generally matter either). Alice deals each player two downcards and then one upcard: Bob’s upcard is a J, Carol is dealt a 3, David an A, and Alice a 4. Bob’s J is the high card (David’s A is low), so he pays a $1 bring-in. Carol, David, and Alice all call. Now Bob is dealt a 9, Carol another 3, David a 4, and Alice a 2. The best low hand showing is now David’s 4-A, just beating Alice’s 4-2. David bets $1, Alice calls. Bob folds his J-9, and Carol calls (her pair of 3s is the worst hand showing, but there are still many cards to come). Alice now deals Carol an A, David a K, and herself an 8. The low hand showing is now Alice’s 8-4-2, so she bets $2. Carol raises $2, and David folds. Alice calls, ending the round. Carol is now dealt a 6, and Alice another 8. Now the lowest hand showing is Carol’s 3-3-6-A, a pair of 3s being lower than Alice’s pair of 8s. She bets $2 and Alice calls. A final downcard is dealt, Carol again best $2, and Alice calls. Alice reveals that her downcards are 7-J-A, making her lowest five-card hand an 8-7-4-2-A. Carol reveals her downcards to be a 4-6-7, making her lowest five-card hand a 7-6-4-3-A, which wins the pot.

This guide is licensed under the GNU Free Documentation License. It uses material from the Wikipedia.

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Posted in Draw poker at 6:04 pm on 12 May 2009

This was the primary poker game played in California during the heyday of Gardena in the 1970s. It is still played today, though its popularity has somewhat lessened since the introduction of stud poker and community card poker to the state.

Played as above, using ace-to-five low hand values, with a single joker in the deck. Always played with blinds rather than antes, so players may not check on the first betting round (but may on the second round). A player with a 7-high hand or better who checks after the draw forfeits his right to win any money placed in the pot after the draw. (In other words, you may not check a “seven” unless you intend to fold when someone else bets). Another common rule in low-limit games is that a player who checks on the second betting round may not subsequently raise on that round. This latter rule is never used in games with a pot limit or no limit betting structure.

This guide is licensed under the GNU Free Documentation License. It uses material from the Wikipedia.

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Posted in Poker betting at 7:51 am on 16 Apr 2009

Betting limits apply to the amount a player may open or raise, and come in four common forms: no limit, pot limit (the two collectively called big bet poker), fixed limit, and spread limit.

All such games have a minimum bet as well as the stated maximums, and also commonly a betting unit, which is the smallest denomination in which bets can be made. For example, it is common for a games with $20 and $40 betting limits to have a minimum betting unit of $5, so that all bets must be in multiples of $5, to simplify game play. It is also common for some games to have a bring-in that is less than the minimum for other bets. In this case, players may either call the bring-in, or raise to the full amount of a normal bet, called completing the bet.

Outside of the United States, pot limit and no limit games are the most common. Most American home games are played with a spread limit, while casino games are played with spread or fixed limits, though larger casinos may have a high-stakes pot limit or no limit game as well. Fixed limit and spread limit games emphasise the skill of estimating odds, whereas pot limit and no limit games emphasize the skills of game theory and psychology. Almost all poker players believe that pot and no limit poker involve more skill than fixed limit play. A few prominent players, most notably Mason Malmuth, believe that the richer tactics make fixed limit more skilled. Although the main event at the World Series of Poker is played no limit, most high stakes cash games are fixed limit, so it is unclear which format is the experts’ choice.

This guide is licensed under the GNU Free Documentation License. It uses material from the Wikipedia.

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Posted in Tournaments at 10:05 am on 6 Feb 2009

Types of poker

While some tournaments offer a mix of games, like H.O.R.S.E. events which combine Hold’em, Omaha, Razz, Stud and Stud Eight or Better and Dealer’s Choice events, at which one may choose from a similar menu of games, most tournaments feature one form of stud or community card poker, such as seven-card stud, seven card high-low stud, Omaha Hold ‘em or Texas Hold ‘em. Both Omaha and Texas Hold’em tournaments are commonly offered in fixed-limit, pot limit, and no limit forms.

Tournament venues

Informal tournaments can be organized by a group of friends; for example, most colleges feature poker tournaments. Casinos and online gaming sites often offer daily tournaments.

However, these are not the only venues. Several World Poker Tour venues are cruise ships at sea. The 2005 World Series of Poker primarily took place in the conference hall of the Rio Hotel in Las Vegas.

Major tournaments

The two largest and most well-known tournaments are the World Poker Tour championship event and the World Series of Poker, held at Binion’s Horseshoe casino in Las Vegas. The World Series has traditionally been featured on ESPN.

The 2005 World Series of Poker was the first held outside of Binion’s Horseshoe Casino, though the final few days of the main event were held in the legendary Benny’s Bullpen. Future tournaments will be held at one of the Harrah’s Entertainment properties; 2005 saw the Rio as primary venue.

Arguably the most publicised European tournament is the Poker Million, which began in 2000 on Sky Sports, following on from the success of the Late Night Poker television show.

This guide is licensed under the GNU Free Documentation License. It uses material from the Wikipedia.

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Posted in Tournaments at 11:07 am on 18 Oct 2008

An amateur poker tournament in progress.

A poker tournament is a tournament at which the winners are decided by playing poker, usually a particular style of poker.

Contrast this to a ring game, where the game is ongoing with no formal structure to determine a single winner in a certain length of time.

Types of poker

While some tournaments offer a mix of games, like H.O.R.S.E. events which combine Hold’em, Omaha, Razz, Stud and Stud Eight or Better and Dealer’s Choice events, at which one may choose from a similar menu of games, most tournaments feature one form of stud or community card poker, such as seven-card stud, seven card high-low stud, Omaha Hold ‘em or Texas Hold ‘em. Both Omaha and Texas Hold’em tournaments are commonly offered in fixed-limit, pot limit, and no limit forms.

Tournament venues

Informal tournaments can be organized by a group of friends; for example, most colleges feature poker tournaments. Casinos and online gaming sites often offer daily tournaments.

However, these are not the only venues. Several World Poker Tour venues are cruise ships at sea. The 2005 World Series of Poker primarily took place in the conference hall of the Rio Hotel in Las Vegas.

Major tournaments

The two largest and most well-known tournaments are the World Poker Tour championship event and the World Series of Poker, held at Binion’s Horseshoe casino in Las Vegas. The World Series has traditionally been featured on ESPN.

The 2005 World Series of Poker was the first held outside of Binion’s Horseshoe Casino, though the final few days of the main event were held in the legendary Benny’s Bullpen. Future tournaments will be held at one of the Harrah’s Entertainment properties; 2005 saw the Rio as primary venue.

Arguably the most publicised European tournament is the Poker Million, which began in 2000 on Sky Sports, following on from the success of the Late Night Poker television show.

This guide is licensed under the GNU Free Documentation License. It uses material from the Wikipedia.

Video: Full Tilt Poker Matrix Sit and Go Strategy, Part 2 of 4: Downswing & Tilting – How to get all lost in the matrix…

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