Omaha Hi-Lo (also known as Omaha/8 or better) is frequently seen as one of the most complex but popular poker variations. It is a game that, even more than normal Omaha poker, invites action from all levels of players. This is the main reason why a once obscure variation, has grown in acceptance so quickly.
Omaha 8 or better starts just like a regular game of Omaha. 4 cards are given out to each player. A round of wagering follows in which players can wager, check, or fold. Three cards are dealt out, this is referred to as the flop. One more round of betting ensues. After all the gamblers have either called or dropped out, a further card is flipped on the turn. Another sequence of wagering happens at which point the river card is flipped. The players must attempt to put together the best high and low 5 card hands based on the board and hole cards.
This is the point where some players get confused. Unlike Holdem, in which the board can make up every player’s hand, in Omaha Hi-Lo the player must utilize exactly three cards from the board, and precisely two hole cards. No more, no less. Unlike regular Omaha, there are 2 ways a pot can be won: the "high hand" or the "lower hand."
A high hand is just what it sounds like. It’s the best hand out of everyone’s, it doesn’t matter if it is a straight, flush, full house. It’s the very same approach in just about all poker games.
A lower hand is more complex, but certainly opens up the play. When determining a low hand, straights and flushes don’t count. A low hand is the weakest hand that could be made, with the worst being made up of A-2-3-4-5. Because straights and flushes do not count, A-2-3-4-5 is the lowest value hand possible. The lower hand is any 5 card hand (unpaired) with an 8 and smaller. The lower hand wins half of the pot, as does the higher hand. When there is no low hand available, the high hand wins the complete pot.
While it seems complex initially, after a couple of hands you will be able to get the fundamental subtleties of the game easily enough. Seeing as you have players betting for the low and wagering for the high, and seeing as such a large number of cards are being used at once, Omaha hi low offers an overwhelming collection of wagering possibilities and because you have several players shooting for the high, along with several trying for the low. If you enjoy a game with a lot of outs and actions, it is not a waste of your time to compete in Omaha/8.