Basic Questions from a "Never Played No-Limit" Nube

[12AX7]

Can someone give me a quick run down on what the structures mean? For example, what does $2/$5 No-limit $200 buy in mean?

I thought "no limit" meant "no limit" LOL!

Also is no limit the way to go online? I've read most of the fancy tracking software hasn't been applied to it yet?

Lastly, I've also read that this is currently where the most profit is on the Vegas Scene these days too. One article writer wrote what I saw, 5 years ago... that before WPT Vegas Poker rooms were dying. Now the old Vegas Rocks are rolling in dough playing $2/5 "no limit".

Anyway, a any comments or good things to read would be appreciated.

[BZ_Zorro]

Try the search function or www.yahoo.com (http://www.yahoo.com)?

$2/$5 are the small and big blind which must be posted when the hand begins. Beyond that, anyone can bet or raise any amount up to the amount in their stack. Minimum bet is the big blind. $200 buy in is the maximum amount you can buy in for. If you want more than that at the table you can only get it by winning off other players. Often you can buy in for less (20% of the max on Party for example).

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Also is no limit the way to go online? I've read most of the fancy tracking software hasn't been applied to it yet?

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Profitability isn't even worth comparing with limit. It's no contest. Re the tracking software, it won't tell you whether to bet, raise or fold, and never will for NL. Apart from that there is software that keeps good records on your opponents. However, you should be able to win almost as much without it unless you're 4-tabling or more.

[12AX7]

So you're saying NL is the profit leader, correct.

Is it correct to say that this also means you'll get your head handed to you on a plate if you don't know what you are doing?

Sounds like it could be a double edged sword. As it is I'd say I'm pretty crummy at Limit HE. If NL is even more difficult, I probably should proceed with caution, unless there's something about it that favors discipline over trying to memorize all the stratgey that's been written about Limit HE in the past 30 years. (I think I'm having HE starting hand chart overload!)

LOL! Yes I did some Google-ing but didn't find anything so basic. Have to admit I was in a rush at that particular moment though.

Prior to now I have never considered NL, so it's never been on my radar screen.

[BZ_Zorro]

Start in the small stakes (say 0.01/0.02 - $5 buy in). Play tight. Buy a book. You'll get the hang of the game, if you don't like it at least you won't lose much.

No limit is more interesting than limit (imo), and is far more profitable. Yes it is a double edged sword, you can lose a lot but you don't need to be great to make money if you stay at the smaller stakes.

I started in limit but got bored by all the monotony and math, moved to tournaments, then NL ring games. I'd never go back.

[12AX7]

Hi BZ_Zoro,
Yes, I did try the .01/.02 $5.00 game. Interesting... though it only took a few hands to realize it *is* different, and yet the same.

Clearly the math underpinnings are the same, but what to do about the variable betting structure could take some time to work out.

What's reccomended reading for no-limit these days?

For example, is the old Super System No-Limit section still good?

I was just browsing it last night, and well, seems like things I would have expected to see... like how big of a bet to make to kill an opponents drawing odds, weren't real obviously in there. (But I was just browsing, need to really read it next.)

Most of it seemed to be about the "playing the player" aspects.

[IamLeach]

Super System is a great read. They don't call it the "poker bible" for nothing. However Ed millers book on Small Stakes Hold'em may be better. Allthough it seems to be geared at limit i find it benifitial for NL myself. I only play NL ring and somtimes NL tourny. but I can;t stand to even have the limitation of PL just my preferance. NL you need a lot of heart to play and a lot of experience. Play a lot of it and I also agree that starting at the low limits to get a feel for the game is good advice.

If you have a good understanding of odds the size of a bet should be simple to figure out. For instance you're playing a hand and you feel that your opponant is drawing at a straight. So he has 8 outs and needs 4.75 to 1 odds to break even. So all you have to do is lay him odds that make his draw unfavorable.

You have AK...villian has 67. Flop comes A89 rainbow. There is $20 in the pot and you think he is drawing at the straight and therefore has 8 outs to catch. with 46 cards left in the deck his chances of hitting are... 46/8 = 5.75... but to put it in odds form it becomes 4.75 to 1. so his chances of hitting are 4.75 to 1 the pot has twenty dollars in it. five dollars is around the cut off here. you bet five and so there is 25 in the pot, that lays him 5 to 1 which is close. but lets say you bet 8 which means there is 28 in the pot. now he has to pay 8 to win 28 which lays him 3.5 to 1 making it unprofitable for him to call. Doyle doesn't explain these things because he assumes you know them. Ed millers book does explain these things.

[Blackwolf]

U forgot the most important part. Implied odds are WAY greater in NL then in Limit cause what are you fighting for? ALL of your opponents chips not just a bit.