The Betting Variations in Poker
In addition to the several forms of poker, there are several betting variations that are also played. In the previous lesson you learnt the basics of Texas hold’em, but in our example hand we didn’t mention the betting limits, as it may have been a case of too much, too soon. In this lesson we will once again use the hold’em poker format to explore the different betting variations. 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. Let’s go through a poker hand to explain how the stakes change during the course of a hand. First let’s look at the initial betting round after each player has received his two hole cards. 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.
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. After the turn card is delivered the betting amount in our example doubles to $4. There is not 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. This same doubling to $4 repeats itself on the final river betting round. 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.
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 the game 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.
A variation on fixed limit is 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 if the first player did raise to $7 and three other players called and both blinds folded. The pot would be $31, which is made up of the small blind $1 plus the big blind $2 plus the original raiser $7 plus three callers at $7 each ($1 + $2 + $7 + $7 + $7 + $7 = $31). After the flop the original raiser will be first to act and he has the option to bet anywhere from $2 to $31 – the size of the pot. If he bets $31 then the next player to act could now either call $31, or raise upto a maximum of $93 more ($62 in the pot, plus the call of $31), meaning the next player would have to call $124 to play. 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.
Please note: a player doesn’t have to raise the size of the pot, as this is just the maximum amount. The minimum amount a player can raise is the size of the previous bet. So in our example, if a player bets $31 then the minimum the next player can raise is a further $31. This is necessary otherwise the game would take forever, with someone betting $31, then a raise to $32, re-raise to $33, and so on. Remember, if you raise it has to be the minimum of the size of the previous bet, and in pot limit, the maximum is the amount of the pot.
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 how many chips he has in front of him at the table. 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.
Betting Basics
We have now covered the three main betting variations of poker; limit, pot limit, and no limit. One thing we have yet to discuss is what happens if a player cannot afford to call a bet? In our no limit example we said a player could bet $10,000 if he wanted, provided he had such an amount at the table. This doesn’t mean he would win if nobody else on the table had $10,000 too. Otherwise the poker player with the most money would always win if he bet all his chips, and it wouldn’t be a very enjoyable game. This is why we need to talk about all-in bets and side pots.
All-in Bets
It is quite common for a player to run out of money during a hand, and when a player puts all his chips into the pot he is said to be "all-in". The important thing to know is that a player can never be bet out of a pot, as he always has the option to call for all his/her chips. For example, a player with $50 bets goes all-in, and everyone folds apart from a player who only has $30 left:
Figure 1
Player 6 obviously cannot match the $50 bet, but he can also go all-in for his last $30. Since there are no other players involved, the first player would take back his extra $20 bet (to make his $50 look like $30). This is shown in figure 2, below:
Figure 2
We previously said that players can never take back their bets, but they can take back any extra money when another player is all-in for less, and no other player has called. The same applies to our extreme no limit example, where a player might bet $10,000. If the player next to him has just $10 and calls, and everyone else folds, then the player with $10,000, would take back $9,990. No more betting would take place, as the all-in player has no money left to bet with, and a winner would be declared (after the river card).
Side Pots
What if there are more than two players involved in a hand? This can be a little more complicated and it’s why a side pot is created for the other players, and any further bets cannot be won by the all-in player. The all-in player is eligible for the main pot only.
Take a look at figure 3, below, which shows three players remaining in a hand. Two players have $50 each, and another has just $10 remaining. In this example the pot already contains $40 from the previous betting rounds. Player 3, who has $50, makes a bet of $20:
Figure 3
Player 7 has only $10 but can call for his last $10 (and would therefore be "all in") or fold. If player 7 decides to go all-in for his last $10, then the last active player (player 9), who has $50, can call, but must call for $20, which is the original bet, or he can raise. If he calls then a side pot is created, as is shown in figure 4:
Figure 4
The main pot now contains $70, which is made up of the existing $40 in the pot, plus $10 x 3. Player 7 is "all in" and can only win this main pot. A side pot containing the extra $20 is created, and can only be won by the players who contributed to this side pot (players 3 and 9). The next card will be dealt and further betting will take place. Any further bets are added to this side pot, and not the main pot. Players 3 and 9, who contributed to the side pot, can win the side pot and the main pot, if their hand beats the "all in" player. If player 7 has the winning hand after the final betting round, then he will win the $70 pot, but the side pot will be won by either player 3 or player 9.
Sometimes there can be lots of different side pots during a hand involving lots of different players – whether it’s limit, pot limit, or no limit poker. This is because not everyone has the same amount of chips – and players who have less chips than an opponent cannot win more from a player than they contributed themselves. The important thing to remember is that a player can never be bet out of hand because he doesn’t have enough to call.
Conclusion
There has been quite a bit of information in this lesson, which to the uninitiated could be confusing. I would suggest re-reading the different variations and the explanation of side pots, if they are not clear to you. 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.
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