Omaha Hi-Lo (also known as Omaha 8 or better) is commonly seen as one of the most difficult but popular poker variations. It is a variation that, even more than regular Omaha poker, invites action from all levels of players. This is the main reason why a once irrelevant game, has increased in popularity so amazingly.
Omaha/8 starts just like a normal game of Omaha. Four cards are dealt to every player. A round of wagering follows where gamblers can wager, check, or drop out. 3 cards are dealt out, this is called the flop. One more round of betting happens. Once all the gamblers have either called or folded, another card is revealed on the turn. Another round of wagering ensues at which point the river card is revealed. The players will have to make the strongest high and low 5 card hands based on the board and hole cards.
This is where many players often get confused. Contrasted to Texas Hold ‘Em, where the board can be everyone’s hand, in Omaha hi low the player has to utilize exactly three cards on the board, and exactly two hole cards. Not a single card more, not a single card less. Contrary to regular Omaha, there are two ways a pot may be won: the "high hand" or the "lower hand."
A high hand is just what it sounds like. It is the best possible hand out of every player’s, regardless if it is a straight, flush, full house, etc. It’s the very same concept in almost every poker game.
The low hand is more complicated, but really opens up the play. When figuring out a low hand, straights and flushes don’t count. A low hand is the worst hand that might be made, with the lowest value being made up of A-2-3-4-5. Because straights and flushes don’t count, A-2-3-4-5 is the smallest value hand possible. The lower hand is any 5 card hand (unpaired) with an 8 and lower. The lower hand wins half of the pot, as just like the high hand. When there’s no lower hand available, the high hand wins the complete pot.
Although it seems difficult at the start, following a few hands you will be able to get the basic nuances of play simply enough. Since you have individuals betting for the low and wagering for the high, and seeing as such a large number of cards are being used at once, Omaha/8 offers an overwhelming range of betting possibilities and owing to the fact that you have many players trying for the high, as well as several trying for the low hand. If you like a game with all kinds of outs and actions, it’s not a waste of your time to compete in Omaha/8.