Rule Variations When it Comes to Stakes: Poker Open Stakes
For those seeking an alternative to standard table stakes rules, there is always open stakes poker. This means players are allowed to buy more chips during their hands and even go as far as borrowing money for continued play (or perhaps throw in a necklace instead of money!) This practice is referred to as “going light”, and is a tactic that would not be out of place in your standard Saturday night poker game.
This is very different in most casino play, however. Even if the rules allow one to buy more chips during a hand, requesting to borrow money or asking to use an IOU is a quick way to earn a ticket to “Leave-the-table-ville”. And even though some games/tables will let you buy chips, it may be wise to make certain of that beforehand (as many casinos consider it to slow down the gameplay too much and disallow it.)
As far as stakes rules go, using open stakes is an older form of the rules, notably before “all in” betting became so commonplace. See, before these rules were in place, a large bankroll led to a large advantage, as raising a bet beyond what an average play could cover often led to folding a hand. While it works great for John Wayne in the Westerns, in real life, it doesn’t work quite as well. There is almost nothing worse than having to fold a great hand because you cannot cover a bet.
In modern play, open stakes usually combines with all-in rules, meaning a player can go “all in” or perhaps borrow. However, many tables / venues will have a minimum buy-in that exceeds the maximum bet several times (or blinds for a no-limit or pot-limit game). This means kid sized bankrolls aren’t welcome at the adult’s table.
Players that go “all in” in an open stakes game and win must have sufficient funds for a full buy-in before borrowing - in other words, only take out what you know you can pay back.
However, it must be said that borrowing or buying more chips, even if allowed, will likely be frowned upon, as it slows the game down (this is one of those poker etiquette things.) Before getting into a game, players should establish the stakes rules and the generally accepted time limits of “borrowed money” issues – this will help simplify and speed up play.
