One of the epic fails of the online poker industry has been protecting the fish. Back in the day (think 2003), there were significant player protections so newbies didn’t get completely hosed. For example, players were limited to the number of tables they could play at once (just one for awhile at 888 Poker). Limit poker was also far more popular back then, and no limit tables were a bit of a rarity.
While limit poker is more boring than no-limit (which is why no-limit eventually won out), limit does help protect newbies from losing too much, too quickly. For example, a common newbie mistake is calling a raise cold with a non-suited ace and rag. In limit, they won’t lose their whole stack if they hit an ace but lose the hand. In no-limit, they will.
If someone calls with A6 offsuit and manages to just win by hitting an ace, they likely will win a small pot, but will lose a medium to large one. Since the variance in the size of the pots is much smaller in limit than in no-limit, this means that your wins won’t be drastically smaller than your losses. For example, if the blinds are $1-$2, winning with A6 just by hitting an ace may net you a $10-$15 or so in winnings in both limit and no-limit. However, in limit, the most you’ll likely lose with this hand is maybe $20, but one could easily lose $40+ if they don’t know any better at no limit.
With limit poker on the backburner and multi-tabling the new norm, the fish eventually died out of poker rooms. However, the past few years of prohibition in the US may allow a ‘respawning’ time. Once legalized online poker catches on (by this I mean more than just one site in Nevada… more like people in California, New Jersey, and a couple other states playing too), there will be a significant increase of interest in poker. A lot of these people interested used to play poker back in 2004-2006 and have forgotten about how much money they may have lost back then.
With all of this dead time in the poker world, recreational players will be able to muster the courage to give it a go again. I don’t think we’ll have a boom similar to the first poker boom, but we’ll certainly have an increase in casual players. Hopefully though, the poker rooms will build in some player protections (the number of tables someone can play at once, disabling tracking software/player notes, or pushing limit poker again, etc.), so that the fish don’t go the way of the dodo again.