One of my favorite games in Poker. I will usually play Pot Limit Omaha or Texas Hold'em before any other.
Pot Limit Rules
Rule #6. In pot-limit, if a chip or a bill larger than the pot size is put into the pot without comment, it is considered to be a bet of the pot size.
The Bottom Line: Always announce your intended Pot Bet, prior to moving your chips. Remember, if you don't announce "Pot" first, you'll be called on a string bet if you put the minimum bet in first, then try to add a raise to bet the Pot.. Always vocalize your intended action.
It's sometimes hard to do the math in your head. If the pot is $424 and someone bets $68, how much can you bet? Don't waste time by attempting to calculate the answer beforehand - just announce "Pot," then figure it out, put in your call first, and then add up the total pot with all bets, adding that to your bet. (In case you're wondering, the answer here is $628.)
Easy to figure if you just multiply the last bet times 3 plus the pot, before the last bet.
If the chips have already been added to the pot, then the last bet times 2 = the pot bet.
424+68=492 = 136 = 628
How you determine the maximum bet is by counting all the money in the pot and all of the bets on the table, including any call you would make before raising. (It sounds more complicated than it really is.)
You can raise any amount in between the minimum and maximum raise amounts.
Pot-Limit Hold'em is not very popular, and is mostly seen only in some large tournaments (such as the WSOP), but the Pot-Limit betting structure is used in Pot-Limit Omaha.
But because Pot-Limit Omaha is rapidly becoming one of the most popular poker variations, it's a good idea to get acquainted with the Pot-Limit structure anyway.
I NEVER BLUFF