Table limit
From Wikipedia, the free encyclopedia
Table limit describes the minimum and maximum bet that a gambler can make at a gaming table. It is a form of yield management in that the limits can be changed to optimize the profit from a gaming table. Gaming tables have a limited resource to sell, the seats used by the players.
Table limits can also be used to manage, in a limited manner, who plays at tables. A casino that wants to project a more exclusive image can set the limits higher so that the casual tourist walking through would not be as likely to sit down and play.
Normally the limits are set to optimize the return from the seats. Since all table games give the house an advantage, the larger the bets, the larger the house's profit. So the house needs to manage the minimum bets to keep the seats full. This usually results in a low limit early in the day when there are fewer players with the limits increasing as more players become available.
Players who are seated when the limit is changed are usually grandfathered in at the old limit. In some casinos they retain the old limit until they leave, in others the lower limit will last for a limited period of time.
A table or a game without a limit is commonly referred to as no-limit. These tables generally allow the player to bet as much as they wish. This is a common form of Texas hold 'em in tournament play where the size of the bets are limited by the size of the 'buy in'.
