In the Money

No-Limit Versus Limit Games

From In The Money: Strategies for Winning Texas Hold'em Cash Games
by Antonio "the Magician" Esfandiari

Being a winning poker player is all about making the right decisions. In order to make those right decisions, you must understand the differences between Limit and No Limit Hold ’Em. If you are going to play both, you must know the correct strategies for each. Many players move from Limit to No Limit Hold ’Em and fail to adjust their play, which can have disastrous consequences on their bankroll. While we will go over the specific strategic differences in subsequent chapters, I would like to take the opportunity here to discuss some of the general fundamental differences between no-limit and limit cash games. Limit Hold ’Em is more of a science. If you have a good understanding of the starting-hand requirements and know your pot odds, you can do well. Know what hands to play from early, middle, or late position. When you have a strong hand, you want to maximize your value while protecting your hand. In other words, you want to play more “by the book.” By definition, you are limited by the rules of the game. You can only bet or raise a predetermined amount. Your opponents know the maximum amount each round of betting can cost them. You are not going to be able to trap an opponent for all his chips when you hit a monster hand. On the other hand, you cannot lose all of your chips in a single bet. You will also have the certainty of how much it will potentially cost you to call down a hand. Limit Hold ’Em is more of a grind. If Limit Hold ’Em is more of a science, then No Limit Hold ’Em is more of an art. The choices available to you are endless. You have more freedom, and you can be more creative. Your opponents can never be sure how much it will cost them to play a hand and must therefore proceed with caution. The flip side is that you also must be careful.Your opponents also are not limited in how much they can bet at any given time. If an opponent has you covered, then your entire stack is at risk. Of course, you have the opportunity to take your opponent’s stack as well. Because of this dynamic, no-limit play becomes a real balancing act. Whenever you raise or reraise, you must be prepared for how your opponent may act. An opponent can come back and move all-in on you. That cannot happen in limit. It is much easier to make a raise in limit, knowing it may only cost you one more bet, as opposed to your entire stack if you are reraised. In limit play, if you have a good hand, you are almost always better off betting out or raising in hopes of isolating an opponent. Only weak players will limp or call on a frequent basis. In No Limit Hold ’Em, it is often advantageous to limp in. For example, say you have a pair of fives in late position. A player in middle position is the first one to enter the pot, and he makes a standard raise. Everyone folds to you. Now, if you are playing limit, it is a good idea to raise here. Your opponent could have a number of different hands—some of which have you beat, and some of which do not. By raising, you force players behind you to fold, and the original raiser can now either fold, call or reraise. Even if your opponent reraises you, it will only cost you one more bet to see the flop. If you hit the flop, great. If you do not hit it, you still may have a chance to win if your opponent misses the flop as well, because you have position. If you believe your opponent was playing a big ace, you can feel confident betting a flop of three low cards. If a couple of scare cards come on the flop, such as A-K-2, and your opponent checks, you may be able to win the pot with a lesser hand. By betting, your opponent may fold a hand such as a pair of 9s or 10s. This is all possible because you were aggressive preflop and have isolated one opponent.

Now let’s look at the same situation in No Limit Hold ’Em.

In late position with a pair of fives and one raiser ahead of you, you are usually better off just calling here. You want to see a flop. If you catch a five on the flop, you have a great chance of winning a really big pot.You are more likely to be in a multiway pot, and if anyone else has caught a piece of the flop, you can make some money. If you miss, you can see what your opponent does. If he bets, you can make an easy fold. If he checks, you can see another free card, or you can make a play if you think he missed the flop.

However, if you had raised preflop, you would have run the risk of your opponent making a substantial reraise or even pushing all-in on you. In that case you would have had to lay down your hand, and you would have been unable to even see the flop. Now, by just calling, you may have let some players behind you, including the blinds, see the flop. As we just discussed, if you hit the flop, you have more potential opponents to pay you off. However, what if you are worried someone may have caught a flush or a straight draw that can potentially best your set? In no-limit play, you can protect your hand and make it very expensive for that opponent to chase. You cannot do that in limit play, which is why you want to isolate preflop.

There is a lot more finesse in no-limit play. There is a great opportunity to trap players and win big pots. You can limp in to pots more often with the hopes of hitting a monster flop and cashing in big. Drawing hands such as small pairs and suited connectors have more value in no-limit play because of the nature of the game. For example, say you limp in with a pair of threes and the flop comes A-10-3 rainbow. If an opponent has any big ace, he will have a hard time getting away from the hand. If your opponent has A-10, it will be almost impossible for him to get away from the hand, and you stand an excellent chance of winning his entire stack. In limit play, this would be impossible. If an opponent thinks he may be beat, he can just call you all the way down to the river and lose three bets at most. Even if you miss or get only a piece of the flop with a drawing hand, there are plenty of opportunities to outplay your opponents after the flop in No Limit Hold ’Em. Because you are not limited by how much you can bet or raise, you can take advantage of position and situation and outplay opponents who may have been on a draw as well.

In limit play, the idea is to chip away at your opponents when you have a good hand. You want to get the maximum bets in with the best hand. Premium starting hands have more value in limit play. Big aces such as A-Q or A-J play much better in Limit Hold ’Em than in No Limit Hold ’Em. For example, say you raise with A-Q in middle position in Limit Hold ’Em and you get a late-position raiser. It only costs you one more bet to see the flop. Now say you flop an ace and bet out, only to find the late position player raising you again. If you know this opponent is hyperaggressive and can have just about anything, you can call him down to the river without risking your entire stack. You just cannot afford to do that in no-limit play. A-Q does not have nearly the equity in no limit. If you flop an ace, you are unlikely to win much of a pot if you have the best hand. Conversely, if an opponent has a hand like A-K, you can lose a lot of money. No matter if you are playing Limit or No Limit Hold ’Em, you still must play by feel. Everything is situational. You must know your opponents. You must know their betting patterns, their tendencies, and how they adjust when things are going well or poorly for them. You must constantly adjust to the situation. To do this requires focus and total concentration. You must pay attention to everything that is going on at the table. In no-limit play, this is magnified greatly. Make a mistake in no-limit play and it can cost you your entire stack. Make a mistake in limit play and it will only cost you a few bets.

If you are just beginning to play No Limit Hold ’Em, you may want to start out playing small stacks. Doing this accomplishes two things for you. First, it limits your exposure. You can only lose the chips that you have on the table. Next, it makes the decision-making process easier for you. In no-limit play, the size of your stack makes a difference in your strategy. With a short stack, you will put more emphasis on preflop play. You are not trying to trap opponents as much because you are limited in how much you can win with your short stack. Thus, your strategy should shift to pushing strong hands preflop. You want to practice being aggressive. While it may sound paradoxical, it is often easier for inexperienced players to be aggressive with smaller stacks than larger stacks because they are not putting as much at risk. You can experiment more with different situations without jeopardizing your bankroll. Your ultimate goal would be to eventually sit down at the table with a large stack and play aggressively but not stupid.

While you will learn many general and specific principles in this book, remember that nothing is written in stone in poker. However, once you have a solid understanding of the fundamentals, it will be that much easier for you to know when to deviate from those principles and be creative. By paying attention and focusing on your environment, you will be able to adjust quickly to the action at the table.

One of the hardest adjustments a limit player makes when he takes on no-limit action is knowing the correct amount to bet or raise. In limit, the rules dictate exactly how much you can bet or raise. The only decision you have to make is whether you should bet or raise. In no limit, answering the question of whether you should bet or raise is only the first step. Next, you have to determine how much you should bet or raise. Your choices are almost endless. Making the correct choice, however, is what winning poker players do.

How can you make the correct choice? The first thing you should ask yourself is “What am I trying to accomplish with this raise?” If you are trying to isolate an opponent or win the pot right there, you have to make a substantial bet or raise. If you are trying to add more money to the pot, then you might make a smaller bet (although more experienced players will be suspicious here).Whatever you do, however, you must be prepared for an opponent to reraise you big. A common mistake of beginning players is to make a raise without any forethought to the consequences of that raise. For instance, let’s look at a no-limit game where the blinds are $10–$20. A few players limp in front of an inexperienced player who is sitting on the button. This player looks down and sees that he has pocket nines. He figures this is a good hand on the button and raises to $40, or exactly twice the size of the big blind, which coincidentally would be the same amount he would have to raise if he were playing Limit Hold ’Em. Now, this raise is not going to chase anybody out except perhaps the small blind. So what purpose does this raise serve? None as far as I can see. Our inexperienced player may have added more money to the pot, but unless he gets a very favorable flop, he is going to be in a lot of trouble with those nines. However, the real problem with this raise is that he may not get to see a flop at all. By raising, he has now given his opponents the opportunity to reraise. If a player who previously entered the pot slow-plays a big pair, he may now take that opportunity and make a big pot-sized reraise. In limit play, you have a safety net in knowing how much an opponent can raise you at any given time. In no-limit play, there is no such safety net. So long as an opponent has you covered, he can put you all-in at any time. Whenever you want to make a bet or raise in No Limit Hold ’Em, think about what you are trying to accomplish and then bet accordingly. If you want to isolate or chase people out, then make a big bet. Be smart about your bets, though. Do not bet a lot to win a little. Be careful not to give away your hand with your bet. An oversized bet from an inexperienced player can signal a steal attempt. Take into account how big the blinds are, how big the pot is, your position, and how big your opponents’ stacks are before deciding on the correct amount. Once you decide on that amount, ask yourself one last question before committing your chips: Are you prepared for a big reraise from one of your opponents? Finally, I want to talk about the importance of table image at the poker table. A strong table image is critical to your overall success at any poker table. However, at the lower limits there is only so much you can do. You are likely to get called down more frequently, which is why you only want to see strong hands to the river. Even at the lower limits, though, you can use a strong table image to your advantage. If you are getting pot odds to draw to your four flush and you miss on the river, you can go ahead and bet if you think your opponent missed his draw as well. Many weak players will fold, especially if you have the better table image. If you are in a low-limit game where it seems every hand is played at least fourhanded with at least three players seeing the river, then do not get carried away with your table image. Just concentrate on playing solid, fundamental poker and reading your opponents. Do not overthink the situation or get too crazy in your play. You are most likely going to get a couple of callers no matter what, so push the action when you have the better of it and call when you are getting correct odds to do so. Your cards are going to tell you what to do for the most part.

At the higher limits against tougher competition, players are not so eager to throw their money around on runner-runner straight draws. Players will not blindly call any bet to the river, or they will not last long at the higher levels. Knowing your opponent and his playing habits take on added importance. When you enter a pot, you will often find the hands being played heads-up or maybe threeway. With fewer players in the pot, there is a good chance that no one will hit the flop, or at best only get a small piece of it. In these situations, your cards are not nearly as important as reading your opponent and, more important, keep him from reading you. Mix up your play. Think of what your opponent is thinking. Then think ahead of him.

Do not even sit down to a no-limit table if you are not fully prepared for a tough battle. If you show weakness, opposing players will pounce on you. They will bet and raise you at every opportunity. It is much harder to call a big bet in No Limit Hold ’Em than to make a big bet. Be the aggressor in order to earn that strong table image. Be willing to take calculated risks. Do not be reckless with your risks, though. Do not risk a lot to win a little. Use your chips to isolate opponents when necessary. Use your chips defensively if needed. You cannot let other players consistently push you around. There will be times that you will need to send a message by raising or even reraising, even if you think you have the worst of it. You could still win the hand if your opponent is not strong. More important, you will send a clear message to your opponents that you cannot be pushed around, which will pay off for you in future hands. You cannot play effectively if you are constantly under attack. You want your opponents to respect your play. If they are going to raise you, you want them to know that you may raise back.

While solid, fundamental play is still important in no-limit poker, there will be many more opportunities to take advantage of situations when your cards are secondary. Reading your opponents, using position, and knowing when to make big bets and raises will win you pots that you would never have been able to take in low-limit play. It is a lot easier to steal a pot when you are not limited in how big a bet you can make to steal it. Of course, tough, experienced opponents will be attempting to do the same thing to you. This is where the real battles take place. How do you win? Stay focused, observe everything, anticipate your opponent’s moves, and stay one step ahead of what your opponent believes you are likely to do.

Let me offer an example from a hand I played at Lucky Chances Casino that really illustrates how this all comes together and what can be accomplished in no limit. I had pocket sixes with the six of hearts. The board at the end of the hand was 4h-5h-Qs-7h-10h. I made a small value bet on the river with the six-high flush and got raised by an extremely careful player. I would not classify my opponent as tight. Rather, he was very solid, careful, and knowledgeable. When he raised me on the river, I knew he could only have one hand. He had the ace of hearts. He would never raise with the king of hearts here. How did I know that? Because he would have nothing to gain, since he knew I would not call him unless I had the ace. So now that I knew he has the nut flush, this was an easy fold, right? I had the six of hearts. If I also had either the three or eight of hearts, I would have a straight flush. Here is where knowing your opponent is critical. I knew this guy was capable of laying down some very big hands. I also had to believe that he knew that I knew that he had the nut flush. So I moved my entire stack into the pot. We both had very deep stacks at the time, so this was an expensive bet. It would also be an expensive call on his part. Well, my opponent thought and thought and thought for what seemed like hours but was just a few minutes. He finally folded his hand. He knew I knew that he had the ace of hearts, and he had to give me credit for the straight flush.

The point of this example is not to recommend that you move in any time your opponent has anything less than the nuts. In fact, I may not make this move against any other opponent in the world. However, there are two important points I want to make. First, if you stay focused and know your opponents, you will have opportunities to make moves. One big win a session from knowing your opponents can make the difference between a winning and a losing player. Next, I never could have made this move in Limit Hold ’Em. You are never going to bluff someone off an ace-high flush with one more bet. That’s the power of No Limit Hold ’Em. It is a more difficult, skillful, and artful game than Limit Hold ’Em. Played correctly, it also can be more rewarding.