Omaha Hi-Lo (also known as Omaha 8 or better) is commonly viewed as one of the most difficult but popular poker variations. It is a game that, even more than regular Omaha poker, aims for play from all levels of players. This is the chief reason why a once invisible game, has grown in popularity so quickly.
Omaha/8 starts exactly like a normal game of Omaha. 4 cards are dealt to every player. A round of betting ensues in which players can wager, check, or fold. 3 cards are given out, this is known as the flop. One more sequence of betting happens. Once all the players have in turn called or folded, another card is revealed on the turn. Another round of betting happens and then the river card is revealed. The gamblers must attempt to put together the strongest high and low five card hands based on the board and hole cards.
This is the point where many players can get baffled. Unlike Hold’em, in which the board can make up everyone’s hand, in Omaha hi-low the player has to use exactly 3 cards on the board, and precisely two hole cards. Not a single card more, not a single card less. Contrary to normal Omaha, there are two ways a pot may be won: the "higher hand" or the "low hand."
A high hand is exactly what it sounds like. It is the best hand out of every player’s, regardless if it is a straight, flush, full house, etc. It’s the same notion in almost every poker game.
The low hand is more complicated, but really opens up the play. When deciding on a low hand, straights and flushes do not count. the lowest hand is the worst hand that might be made, with the worst being A-2-3-4-5. Since straights and flushes do not count, A-2-3-4-5 is the lowest possible hand. The lower hand is any 5 card hand (unpaired) with an 8 and below. The low hand takes half of the pot, as does the higher hand. When there is no low hand available, the higher hand wins the entire pot.
While it seems complex at the start, following a few hands you will be agile enough to pick up on the basic subtleties of play simply enough. Since you have players wagering for the low and wagering for the high, and seeing as such a large number of cards are in play, Omaha/8 offers an overwhelming range of betting options and seeing that you have many individuals shooting for the high hand, as well as many shooting for the low. If you enjoy a game with a considerable amount of outs and actions, it is worth your time to participate in Omaha 8 or better.