In previous articles we have already discussed the game selection question and went over aspects and factors that help you select a poker variant suitable for both your skill level and your style of play. However, in addition to the game selection question, all poker games, including Texas Holdem poker and its Fixed Limit, Pot Limit and No-Limit variants lend themselves to certain edges. Therefore, this article explains Texas Holdem edges and discovers some aspects of game selection as well.
Let’s start with Limit Texas Holdem poker, which lends itself to the smallest edge. Why so? Because novice and weak players are protected from losing a lot of money, when making stupid moves, since the bets are limited to a certain size. Try to think about this fact mathematically. If each bet is just a small and mere fraction of the total pot, then players can call with solid draws, almost always getting solid pot odds for their draws.

Take a look at the following example:
Assume that you are playing a $2-$4 Limit Texas Holdem game. You have Ace of hearts and King of clubs, your opponent has King of spades and 4 of diamonds and the flop is King of diamonds, 6 of hearts and 9 of spades. Say, 3 players besides you as well as your opponent see the flop. You decide to make a bet and your opponent calls through the river. What do you think, how much did he expected to lose in this case? Before the flop there were $10 in the pot, your opponent called for $2, so there are $12 in the pot after the flop. After this, your opponent calls for $4, enlarging the pot to $16 before the river. Now let’s take a look at his losses in the expected value on each of the betting rounds postflop. Your opponent’s expected value is his chance of winning times the size of the pot and minus your opponent’s bet. Your opponent’s total loss is -$7,92. This is probably the worst possible situation in any Fixed Limit Texas Holdem game. In case if the same situation would occur in a No-Limit Texas Holdem game, then this player would lose much more money and your edge over your opponent would have been way greater, since your bets would be a bigger fraction of the total pot.
You may ask do these calculations mean that No-Limit Texas Holdem is better than other Holdem variants, including Fixed-Limit Texas Holdem? Well, it depends on the way how you look on it, but definitely not necessarily. Since in No-Limit Texas Holdem the edges can be really huge, most players, especially newbies, keep away from them, which means that you will not find any fish. Besides of this, weak No-Limit Texas Holdem players are tired of losses and will most likely fold in the described situation. Remember that players will not give you their money that easy. At the same time, plenty of weak and novice players stay at Fixed Limit Texas Holdem tables, where you can take their money, even slowly.
That is why when you think about your edge in either Limit or No-Limit Texas Holdem game, remember that your edge at No-Limit Texas Holdem is way more dynamic. A player’s edge at Limit Texas Holdem usually stays in a defined and limited area, while in No-Limit Texas Holdem the edge has very broad limits and usually depends on the play of a couple of people sitting at the table. For instance, in the example, where you have King and 4 against the Ace and King hand, it is more likely that you will be victorious in the same situations as those at Limit Texas Holdem games, except some rare situations, when you play in a comparatively tough game. Anyway, it’s up to the chance whether you’ll win or lose in the same situation at No-Limit Texas Holdem game. Your goal is to extract bigger bets from your opponents, if you hold top pair without a kicker in No-Limit Texas Holdem games – then you get a chance to earn some extra money for your weekend. Note that in certain cases your opponents will not pay you off at all, therefore your actual expected gain is now contracted.
Also note that there is certain possibility of a more general edge in cheap No-Limit Texas Holdem games, since these games usually attract a lot of weak players, which wouldn’t make much influence on the general climate of the game.

Also recommended:

1. Know When to Fold in Fixed Limit Texas Holdem
2. Deep Stack Raise Sizing in Texas Holdem
3. Slow playing After the Flop in Texas Holdem: Candidate Hands
4. Texas Holdem (Limit) Tournaments
5. Frequent mistakes of Texas Holdem players