Omaha Hi-Lo (also known as Omaha/8 or better) is commonly viewed as one of the most complicated but popular poker variations. It is a variation that, even more than regular Omaha poker, aims for play from all levels of players. This is the main reason why a once obscure game, has increased in acceptance so amazingly.
Omaha hi-low begins like a normal game of Omaha. 4 cards are handed out to each player. A sequence of wagering follows in which players can wager, check, or fold. Three cards are dealt out, this is called the flop. One more round of betting happens. Once all the gamblers have either called or dropped out, an additional card is revealed on the turn. Another round of betting happens at which point the river card is revealed. The players will need to make the strongest high and low five card hands based on the board and hole cards.
This is where a number of players often get flustered. Contrasted to Texas Hold ‘Em, where the board can be every player’s hand, in Omaha hi lo the player has to utilize exactly three cards from the board, and precisely two hole cards. Not a single card more, no less. Unlike regular Omaha, there are two ways a pot may be won: the "high hand" or the "low hand."
A high hand is exactly what it sounds like. It is the strongest hand out of every player’s, it doesn’t matter if it is a straight, flush, full house. It’s the same approach in just about every poker game.
A low hand is more complicated, but really free’s up the play. When deciding on a low hand, straights and flushes don’t count. A low hand is the worst hand that could be made, with the lowest being made up of A-2-3-4-5. Since straights and flushes do not count, A-2-3-4-5 is the lowest value hand possible. The lower hand is any five card hand (unpaired) with an 8 and below. The lower hand takes half of the pot, as does the high hand. When there’s no low hand available, the higher hand wins the complete pot.
Although it seems complex at the start, following a few rounds you will be able to get the basic nuances of the game easily enough. Since you have players betting for the low and wagering for the high, and since so many cards are in play, Omaha/8 offers an exciting collection of wagering options and because you have several players shooting for the high, and many battling for the low hand. If you love a game with a plethora of outs and actions, it’s worth your time to participate in Omaha 8 or better.