Omaha Hi-Lo (also known as Omaha/8 or better) is commonly seen as one of the most complex but popular poker games. It is a game that, even more than regular Omaha poker, invites action from every level of players. This is the main reason why a once obscure variation, has grown in popularity so amazingly.
Omaha hi/lo starts exactly like a normal game of Omaha. 4 cards are dealt to each player. A sequence of wagering ensues in which players can bet, check, or drop out. Three cards are handed out, this is known as the flop. One more round of betting happens. After all the players have in turn called or folded, another card is revealed on the turn. an additional sequence of betting ensues and then the river card is flipped. The players will have to make the strongest high and low five card hands based on the board and hole cards.
This is the point where a few players can get baffled. Unlike Hold’em, in which the board can make up every player’s hand, in Omaha hi/low the player has to use exactly 3 cards from the board, and precisely two cards from their hand. No more, no less. Contrary to regular Omaha, there are two ways a pot can be won: the "high hand" or the "low hand."
A high hand is exactly what it sounds like. It is the best hand out of everyone’s, it doesn’t matter if it is a straight, flush, full house, etc. It is the same concept in nearly all poker games.
The low hand is more complex, but really free’s up the action. When determining a low hand, straights and flushes don’t count. the lowest hand is the worst hand that could be put together, with the worst being A-2-3-4-5. Because straights and flushes do not count, A-2-3-4-5 is the smallest value hand possible. The low hand is any 5 card hand (unpaired) with an eight and below. The lower hand takes half of the pot, as does the high hand. When there is no low hand presented, the higher hand takes the whole pot.
While it seems difficult at first, following a few rounds you will be agile enough to get the basic subtleties of the game with ease. Seeing as you have people wagering for the low and betting for the high, and since such a large number of cards are being used at the same time, Omaha 8 or better offers an overwhelming range of betting options and because you have several individuals trying for the high, along with several trying for the low hand. If you enjoy a game with all kinds of outs and actions, it is not a waste of your time to compete in Omaha hi lo.