Explanation of No Limit
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.
Example of No Limit being used in a sentence -> Omaha is typically played with a pot limit betting structure but occasionally it crops up with a no limit betting structure.
How to Use No Limit as Part of Your Poker Strategy
No limit is the most complex of the three betting structures since there is such a wide range of bet sizings we can employ at any given moment. It’s often stated that bet sizing is the hardest area of no limit games to master.
One of the biggest differentiating factors between experts and amateurs is that the expert will use excellent bet sizing with a much higher frequency. Many amateurs fall into the habit of making the same sized bets on every street while strong professionals will be willing to both mix up their bet sizings and to make use of unorthodox sizings when relevant.
A key difference in no limit betting structures when compared to the other two betting structures is the ability to overbet. In both Fixed Limit and Pot Limit betting structures players are always forced to bet pot-size or less, while no limit players have the ability to make bet sizings larger than what is currently in the pot (called overbetting). Many amateurs will never overbet, while strong professionals will make use of this option when incentivized.