Omaha Hi-Lo (also known as Omaha/8 or better) is commonly viewed as one of the most difficult but favored poker variations. It is a variation that, even more than normal Omaha poker, aims for play from all levels of players. This is the primary reason why a once invisible variation, has increased in acceptance so quickly.
Omaha/8 begins exactly like a normal game of Omaha. Four cards are dealt to every player. A sequence of wagering follows in which players can wager, check, or fold. Three cards are handed out, this is known as the flop. A further sequence of betting ensues. After all the gamblers have in turn called or dropped out, another card is flipped on the turn. Another sequence of betting happens at which point the river card is flipped. The gamblers will have to put together the best high and low 5 card hands based on the board and hole cards.
This is where a number of players get confused. Unlike Holdem, in which the board can be every player’s hand, in Omaha hi/low the player has to utilize precisely three cards on the board, and exactly two hole cards. Not a single card more, no less. Unlike normal Omaha, there are 2 ways a pot might be won: the "high hand" or the "lower hand."
A high hand is exactly how it sounds. It’s the best hand out of everyone’s, it doesn’t matter if it is a straight, flush, full house, etc. It’s the very same concept in almost all poker games.
A low hand is more difficult, but really opens up the action. When determining a low hand, straights and flushes don’t count. A low hand is the worst hand that can be put together, with the lowest value being A-2-3-4-5. Considering that straights and flushes do not count, A-2-3-4-5 is the smallest value hand possible. The low hand is any five card hand (unpaired) with an eight and lower. The lower hand takes half of the pot, as does the higher hand. When there is no lower hand presented, the high hand takes the entire pot.
It may seem complicated initially, following a few rounds you will be able to get the basic nuances of play simply enough. Since you have individuals wagering for the low and wagering for the high, and since such a large number of cards are being used at once, Omaha hi/low provides an exciting range of wagering possibilities and seeing that you have several individuals shooting for the high, along with many battling for the low hand. If you prefer a game with a considerable amount of outs and actions, it’s not a waste of your time to compete in Omaha/8.