Betting Structure Theory

[TGoldman]

I've been thinking about various poker games and the different betting structures for each game. Specifically three main types of betting structures:

1) Limit
2) Pot-Limit
3) No-Limit

Is there a fundamental aspect of a generic poker game that makes it more conducive to be played using a particular betting structure? For example, Omaha high is usually played using a Pot-Limit betting structure. From my understanding, most players consider limit Omaha high to be boring and tedious. The reverse is true for Pot-Limit Omaha/8. This game is rarely played outside of the internet and most PLO/8 authors admit that the Pot-Limit betting structure results in a dying game. As a result, limit Omaha/8 is the main betting structure for the game. What accounts for this difference? Also, what about Omaha makes it difficult to be played using the No-Limit structure? Why is a game like Hold'em able to be played using all three different betting structures? I'm wondering if there is some general concept that governs the best choice of betting structure for a particular poker game?

[Rudbaeck]

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Also, what about Omaha makes it difficult to be played using the No-Limit structure?

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I'll answer this question atleast. When you have the nuts but risk being outdraw in NL Omaha you should wildly overbet the pot/go all-in on the flop. People figured that out quickly, and it basically turned into a game where someone always went all-in for $10,000 in a $400 pot on the flop.

[Hosayif]

Im only pretty sure of this but the reason PL O/8 isn't played much is bc as soon as someone has a lock on low, theyre going to be betting the pot every time so it esentially becomes PL Omaha Low unless someone is gutsy/stupid enough to go for high.

[Rudbaeck]

That would be one dumb person. In a threeway pot with action you're going to be forced to do the exact opposite, folding the nut low without a high.

The main reason I think PLO/8 isn't played much in B&M casinos is that it's the very definition of slow. You're not gonna see much more than 15 hands/hour here...

Online it's a disgustingly good game, for the skilled player. I can't think of any currently played form of poker where the fish stands less of a chance.

[Quicksilvre]

Seven card stud can't be played very well at pot-limit, since with five streets, the betting tends to get out of hand. Four street games fare a lot better with PL (even Mississippi Stud)

[Rudbaeck]

Actually pot limit stud is a fairly popular game in England. But yes, the betting does get out of hand.

It gets even more out of hand in 7cs/8 pl. But that's usually remedied by a starting hand of four cards.

[TGoldman]

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The main reason I think PLO/8 isn't played much in B&M casinos is that it's the very definition of slow. You're not gonna see much more than 15 hands/hour here...

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That's definitely part of it, although not the only reason. Steve Badger gives another explanation on his website, "One reason PLO8 isn't played much in casinos is because skill wins. Bad play and bad players are annihilated, and fast too. PLO8 games peopled only with good players are hideously bad. The game becomes pointless and tedious. It comes down to exploiting extremely rare flukes (like top full house loosing to quads)." I think that also helps explain why Omaha/8 is only played using a limit structure at the WSOP. PLO/8 games seem to only be able to survive on the internet where there is a near unlimited supply of dead money to fuel the games.

[TGoldman]

PS, you're correct that the automated dealing, pot counting, betting slider, etc. on the internet greatly increases the speed of the games and make PLO/8 games more attractive online. I know last year PokerStars offered a PLO/8 event in their WCOOP event, but sadly it's been replaced by a limit Omaha/8 event this year.

[Rudbaeck]

I did touch on what an amazingly skill reliant game PLO/8 is in my second paragraph. [img]/images/graemlins/wink.gif[/img]

After some more thinking I could come up with one game where fishes stand less of a chance, NL 5 card stud!