Omaha Hi-Lo (also known as Omaha 8 or better) is commonly viewed as one of the most complicated but popular poker games. It is a variation that, even more than normal Omaha poker, aims for play from all levels of players. This is the primary reason why a once invisible variation, has increased in acceptance so rapidly.
Omaha 8 or better starts like a regular game of Omaha. Four cards are handed out to each player. A round of wagering ensues where players can wager, check, or fold. 3 cards are dealt out, this is known as the flop. Another sequence of betting ensues. Once all the gamblers have in turn called or folded, a further card is flipped on the turn. Another round of wagering happens and then the river card is revealed. The players 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 entrants can get confused. Contrasted to Hold’em, in which the board can be every player’s hand, in Omaha hi-low the player has to use precisely 3 cards on the board, and exactly 2 hole cards. No more, not a single card less. Contrary to regular Omaha, there are two ways a pot might be won: the "higher hand" or the "low hand."
A high hand is just what it sounds like. It is the strongest possible hand out of everyone’s, regardless if it is a straight, flush, full house, etc. It is the same concept in nearly all poker games.
A lower hand is more complicated, but really free’s up the action. When deciding on a low hand, straights and flushes do not count. A low hand is the worst hand that might be made, with the lowest being A-2-3-4-5. Since straights and flushes do not count, A-2-3-4-5 is the worst possible hand. The lower hand is any five card hand (unpaired) with an 8 and lower. The lower hand takes half of the pot, as does the high hand. When there is no low hand presented, the high hand takes the entire pot.
While it seems complicated at first, following a couple of rounds you will be able to get the basic subtleties of play easily enough. Seeing as you have people betting for the low and wagering for the high, and since so many cards are in play, Omaha/8 provides an overwhelming assortment of betting choices and owing to the fact that you have several players shooting for the high, and many shooting for the low. If you love a game with a considerable amount of outs and actions, it’s worth your time to play Omaha hi/lo.