Omaha Hi-Lo (also known as Omaha 8 or better) is often times seen as one of the most difficult but well-loved poker variations. It is a variation that, even more than regular Omaha poker, aims for action from all levels of players. This is the chief reason why a once invisible variation, has increased in popularity so amazingly.
Omaha 8 or better begins just like a regular game of Omaha. 4 cards are given out to every player. A sequence of wagering ensues where players can wager, check, or fold. Three cards are dealt out, this is known as the flop. Another sequence of wagering ensues. Once all the players have either called or dropped out, a further card is revealed on the turn. Another round of betting follows and then the river card is flipped. The entrants will need to make the strongest high and low 5 card hands based on the board and hole cards.
This is the point where a number of entrants often get confused. Unlike Texas Hold ‘Em, where the board can be every player’s hand, in Omaha hi/low the player must utilize precisely 3 cards from the board, and exactly two 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 just how it sounds. It is the strongest possible hand out of every player’s, it doesn’t matter if it is a straight, flush, full house. It is the very same concept in just about every poker game.
The low hand is more complex, but really free’s up the play. When figuring out a low hand, straights and flushes do not count. A low hand is the worst hand that can be put together, with the lowest value being made up of 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 five card hand (unpaired) with an eight and below. The low hand takes half of the pot, as does the higher hand. When there’s no lower hand available, the high hand takes the entire pot.
While it seems complicated at first, after a couple of rounds you will be able to pick up on the fundamental nuances of play with ease. Seeing as you have players wagering for the low and betting for the high, and seeing as such a large number of cards are in play, Omaha 8 or better provides an exciting collection of betting choices and because you have many individuals battling for the high hand, along with several trying for the low. If you prefer a game with a plethora of outs and actions, it is not a waste of your time to participate in Omaha/8.