NO LIMIT VS LIMIT

No Limit Holdem Is A More Technical Game

No limit holdem offers more tools for a skilled player to use against an unskilled one (you can make a lot of money off them). That means that the difference between a top no limit player and a new no limit player is much greater then that of a new limit player and a top limit one. There are many reasons for this but a few include the ability to bet a varying amount at any point to either freeze your opponents drawing hand or completely bust him out in one shot or just to bluff him off his hand. Notice how you can make a big mistake in a limit game and you are out a few extra bets. If you make that same mistake in a no limit game your stack is gone.

Psychology Is A Bigger Factor In No Limit

In limit hold'em "the best hand wins". That means that the hands get shown down. Limit hold'em is pretty mechanical because of this -- you wait for your good cards, hit a flop and get paid off. In no limit holdem your dream is to play a hand a certain way so that your opponent miss reads it and loses his whole stack to you. An obvious example of this would be what you see in the movie Rounders: checking your nut hand to the person and letting them try to bluff you. It goes farther then that though. All day you play a certain way and it sets the stage for later play. You are just waiting for that opportune time to unleash your arsenal and send someone packing. Limit you can't do this because the size of the bets...you'll have to show that person you are beating the winning hand and when you do you won't win as much with it.

No Limit Positional Play

Being in late position in both limit and no limit holdem is the best place to be but in no limit a person's position matters much more. Check the Expected Value Chart which clearly shows the value of position at the table. This is true for both preflop and post flop play. Let's take an example from preflop play: JJ in early position. If you are dealt JJ in a limit game and you are in early position, you usually just open for a raise making it two bets. The worst thing that can happen is that someone three bets and then even caps the pot behind you (making it the max amount of raises...4 or 5). In no limit the damage inflicted by people yet to act behind you can be much more severe. What if you raise for a decent amount preflop with your JJ and then get nailed with a huge reraise from someone behind you? Not that JJ is a bad hand because it isn't but this just illustrates the problems that arise when you play up front in no limit. The trouble doesn't end there, post flop play is also deadly if you are out of position. You can't play too cautiously because that is a give away you aren't sure about your holding, but then again you don't want to risk a sizable amount of chips with players yet to act.

Initiative More A Factor In No Limit

Having the initiative means that you are the one in the drivers seat, you are the one that is betting or raising and the other person is reacting to your play. In both limit and no limit being the aggressor is always favorable to being the caller (unless you are sand bagging someone). No limit puts a higher premium on initiative then limit. The reason for this is that since you can make a large bet or raise at any point, your actions have greater weight. Some no limit players abuse this by betting and just letting their opponent decide whether or not they want to call and get involved. Contrast a $1000 bet on a flop where the pot is $1000 and a $40 bet on the flop when the pot is $180. Notice how much more powerful a bet is in no limit compared to limit. Size does matter and it can make you really think if you have to call. Let's look at another example that will illustrate initiative. Let's say that Player A has TT and Player B has TT. Player A raises $100 preflop and Player B calls his raise from the big blind. They are heads up. The flop comes back A - 9 - 4. That is scary for both players. The person with the initiative, most likely Player A, will win the pot after betting the flop. In limit holdem hands win by being shown down after the river. In no limit holdem the hands usually are won and lost way before then. Because of this, initiative -- doing the betting and raising -- has much more power.

Chip/Stack Size Matters In No Limit

In limit holdem the only time you are concerned about someone's chip size is if they go all-in and can't complete the bet. Or maybe another situation would be if you can see that the person is raising their last few chips preflop out of desperation. In no limit the amount of chips a person has in front of them is one of the largest factors affecting play against them. An example of this would be if you have $1000 in front of you and your opponent has $200. The max you can lose in one hand is just $200. That affects the cards you play against them. Now take another example where you have $2000 in front of you and your opponent has $3000. He "has you covered." Since he has equal or more chips then you do, if you guys start swinging you could lose all your chips in one fell hand. Another reason chip size matters in no limit is the concept of being "pot committed." Let's revisit the example of you having $1000 and your opponent having $200. What if he raised $100 preflop and you called. Because he already blew 50% of his chips on the first bet, he will most certainly bet the rest right now. That puts him in a weak position though because you are having to put in $100 for a chance at winning over $300. If he had more chips in front of him you couldn't be as confident since his flop bet may be a much larger one like say $500. Then what would you do? Or what if he went all-in? Or if he made big bet on the turn? Another factor chip size has is the implied odds you get from the player. Drawing hands only make money when they hit while other hands make money if they "hold up". If you play against someone with a drawing hand that has few chips, if you hit your hand you can't make much with it.

In No Limit The Odds Are Against The Weak

Limit poker lays some very favorable odds. That results in people running you down with all kinds of nonsense. That is usually because they don't know how to play well but it is less of a mistake in limit then it is in no limit. Let's take an example of where you hold AK preflop in a limit game. You are in early position and raise making it two bets. You get 3 callers behind you as well as both blinds. Good luck winning this one! The flop comes back: As - Tc - 3d. Looks like a safe flop right? You bet and out of the 5 players left to act, 3 call. The turn brings a Jc making the flop: As - Tc - 3d - Jc That is trouble. If you survive this one you are lucky. Note that the gutshot straight draw may have already arrived, two pair may already be there, and even a backdoor flush is now possible. All you could have done on the flop is either bet or check raise in hopes of limiting the competition. You have a puny weapon for this. You are trying to kill a rhino with a fly swatter. What you need is a bazooka. You need to be able to bet a big amount on the flop and cut off all those draws. See if you raised preflop and got 5 callers, there are 10 bets already in the pot. Everyone is getting the correct odds to call for gutshot draws and making two pair. No limit offers you a bazooka whenever you need it. You can make a huge bet on the flop that skews the odds and makes it incorrect for the people to call. In no limit you wouldn't have 5 callers behind you either, you would most likely just have 1 or maybe 2. Then you could come out betting the size of the pot on the flop and make them pay to see their draws.

The Stakes Are Bigger In No Limit

Obviously right? What I mean by that though is that at anytime you can double your chip size if you go all-in and get a caller ("doubling through"). That also means that you are one screw up away from losing all your chips. That is a huge difference compared to limit where you can make a number of errors through out the day and still come out ahead. When I put it this way it sounds like a disadvantage since you don't have much room for error (and you can't play tentative no limit and win). It isn't a disadvantage though. If you know what you are doing then it adds a lot to the game since you can nail a guy in one shot for all his chips. Once again no limit favors the pro much more then limit does.

High Cards (KQ, AJ, KJ,...) Go Down In Value, Middle Pairs Go Up

Pocket Aces and pocket Kings are great hands in both limit and no limit games (as is AK) but other face cards like KQ, KJ, AJ, etc are not. In limit holdem a hand like KQ is definitely playable. In no limit that hand will either win you a small pot or lose you a huge one. They are serious trouble hands. An example would be if you have KQ and the flop is KT3. If you are a limit player you'll see that as a favorable situation but in no limit the only time you are going to get action on that hand is if you are going to lose. Also you leave yourself wide open to bluffs since your hand can't stand a substantial raise. Middle pairs in no limit are stronger then in limit. If you have 99 in no limit, that is a good starting hand, in limit it is as well but so many people will call preflop and on the flop that if you don't hit your set, you are doomed. Middle pairs are great no limit hands because the implied odds you get from hitting the set. Let's say you have 88 and the flop is Q83. Your opponent has AA or KK. You are going to absolutely ream him. In limit you'll also win a big pot but not anywhere near as large as in no limit. The reason the middle pairs are also so powerful is because it will rarely be top set (and even when it is and overpair like AA looks great with that flop). Let's say another example is 88 against AK and the flop is A83. See how well it is disguised and how hard it will be for the person to get away from their hand?

Some Draws Go Down In Value In No Limit Holdem

Draws like flush draws and openended straight draws have their place in both limit and no limit games but no limit does not favor them. The reason for this is that you are often times heads up and you aren't getting good odds on your hand. That doesn't mean that draws aren't playable, it just means that they go down in value. Also note that straight draws often times make more money in no limit then flush draws because flush draws are much more noticeable when they hit. Hitting flushes rarely make a lot of money unless they are against another smaller flush (or unless the money was being put in before it arrived). Taking away the implied odds on drawing hands lowers their value. Note though that some draws in limit holdem aren't as playable as they are in no limit because of the upside of the implied odds if you hit. An example of this would be a gutshot straight draw or catching a small set on the turn. Those are disguised hands that have a chance to win a big pot and bust someone out. Contrast that with the third heart hitting on the turn and you having a flush.

Bluffing Is A Key Tool In No Limit

In limit holdem if you try to bluff someone on the river and they have any kind of hand that was already worth a bet, it is an automatic call. Because you can only bet so much at a time, your bets mean very little in relation to the pot size. In no limit holdem, if at any point in the game you sense weakness you can put that person to a decision by raising them as many chips as you have. That gives you a lot of power. Bluffing is a small part of limit play, usually the best hand wins. Most hands go to showdown. In no limit this isn't the case. Instead most hands are decided without ever seeing what the person had.

Hand Reading Skills Are Essential In No Limit

Hand reading in no limit is much more important then in limit. This is similar to bluffing in that in limit holdem, if someone tries to get fancy with you, you can just call and it costs you one or two more bets. In no limit though a person can bluff at you with a huge bet and then you'll have to make a decision based on their previous play, your hand and the current hand texture to decide what the proper action is. Being able to read people's strength and weakness is key. This isn't easy and it is what sets apart the great players from the good. If you sit down with a pro like Phil Hellmuth he isn't going to be able to read your hands immediately but if you play with him for a bit he will read you like a book. That is why he is so good. In limit holdem this doesn't help quite as much because most hands are won by showing them down at the river. Because of this your hand reading skills can only get you so far if you don't have good hands to back them up.

No Limit Games Have Less People Seeing The Flop

Limit games often have four people seeing the flop (or even more if you play looser games). In no limit holdem it is usually heads up or maybe three way action. That means your good hands will hold up more often because you don't have 5 other people with random hands trying to catch their gutshots, two pairs and trips. You might think that creates smaller pots but it doesn't. A $2/4 no limit game is much larger then a $2/4 limit one. Remember that at anytime you can bet your entire stack and get called. Bets the size of the pot are routine.