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 normal Omaha poker, invites action from every level of players. This is the primary reason why a once irrelevant variation, has expanded in popularity so rapidly.
Omaha/8 begins like a normal game of Omaha. Four cards are handed out to every player. A round of wagering follows in which gamblers can bet, check, or fold. 3 cards are dealt out, this is referred to as the flop. One more sequence of wagering ensues. After all the players have either called or dropped out, another card is revealed on the turn. Another sequence of betting happens at which point the river card is flipped. The gamblers will have to put together the strongest high and low 5 card hands using the board and hole cards.
This is where many entrants often get baffled. Contrasted to Holdem, where the board can make up everyone’s hand, in Omaha hi-low the player has to use precisely three cards from the board, and precisely 2 hole cards. No more, not a single card less. Unlike normal 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, regardless if it is a straight, flush, full house. It’s the identical approach in just about every poker game.
The low hand is more complex, but really free’s up the action. When deciding on a low hand, straights and flushes don’t count. A low hand is the weakest hand that can be put together, with the lowest value being A-2-3-4-5. Since straights and flushes do not count, A-2-3-4-5 is the worst possible hand. The low hand is any five card hand (unpaired) with an eight and smaller. The lower hand takes half of the pot, as does the higher hand. When there is no low hand presented, the higher hand wins the complete pot.
While it seems difficult initially, following a couple of rounds you will be able to pick up on the fundamental subtleties of play with ease. Since you have individuals wagering for the low and betting for the high, and seeing as such a large number of cards are being used at once, Omaha/8 offers an amazing range of betting choices and because you have several players trying for the high hand, as well as a few trying for the low hand. If you prefer a game with a lot of outs and actions, it is not a waste of your time to play Omaha 8 or better.