What is Limit?
Limit (or fixed limit) → 1. Limit is a betting structure for poker games where the betting occurs in fixed increments.
Example usage → “In the early days of Hold’em, it was primarily played with a fixed limit betting structure”
Both cash games and tournaments use three primary betting structures.
No Limit – Players can bet any amount at any given time even if it means betting larger than the current pot size. There is no cap on how many bets and raises can be made on a given street.
Pot Limit – Players can bet up to pot size at any given time, but not larger. There is no cap on how many bets and raises can be made on a given street.
Fixed limit – Players are forced to bet in fixed intervals using either a small bet sizing or a large bet sizing depending on the street. There is a maximum amount of raises legally allowed on each street, typically one bet and three subsequent raises.
Stud is an example of a game that continues to be played is most commonly played with fixed limit betting. While games such as Hold’em and Omaha have shifted away from fixed limit, Pot Limit or No Limit stud games are almost never seen.
Correct approach to fixed limit games is considerably different to both pot limit and no limit games. Since the size of the bet does not change regardless of the size of the pot, folding in large pots is often not correct since we are typically offered very good odds to make the call.
Folding usually either happens when the pot is very small, or in situations where winning at showdown is almost impossible.
Our bluffing frequency should also be lower as the pot grows. Since we may find ourselves using very small bet sizings into large pots, game theory analysis teaches us that bluffing frequencies should be kept at a minimum.
This is not to say that bluffing doesn’t play a part in fixed limit games. Bluffing is more important when the pot is small and our bet size is hence proportionally larger relative to the pot.