Limit
Limit is a betting structure in which the size of bets and raises is fixed. In a limit game, a player cannot bet any amount; he must bet the set size. It is the opposite of no-limit.
The simple explanation
In limit hold'em, bets are a fixed amount that depends on the round. In a $4/$8 game, bets and raises on the first two rounds are $4 and on the last two rounds $8. The number of raises in a round is usually limited, to three or four.
A closer look
Because the bet sizes are fixed, limit poker is about selecting hands and getting the odds right, and less about sizing. Pot odds are large, so drawing hands are more valuable than in no-limit. Many mixed games, such as HORSE, are played at limit. Limit hold'em was the main game for many years before no-limit became popular. It is still played in live rooms.
A practical example
In a $4/$8 limit game, a player bets $4 on the flop and $8 on the turn. He cannot bet any other amount.
Full explanation
Limit is a betting structure in which the size of bets and raises is fixed. In a limit game, a player cannot bet any amount; he must bet the set size. It is the opposite of no-limit.
Limit poker has fixed bet sizes.
The size depends on the betting round.
The number of raises is capped.