Omaha Hi-Lo (also known as Omaha 8 or better) is often times viewed as one of the most complicated but popular poker variations. It is a game that, even more than normal Omaha poker, invites play from all levels of players. This is the primary reason why a once invisible variation, has expanded in popularity so amazingly.
Omaha/8 starts like a normal game of Omaha. 4 cards are handed out to each player. A round of betting ensues in which gamblers can wager, check, or drop out. Three cards are given out, this is called the flop. A further round of betting happens. Once all the players have either called or dropped out, another card is flipped on the turn. an additional round of wagering follows 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 the point where a few entrants get flustered. Unlike Texas Holdem, where the board can make up everyone’s hand, in Omaha hi/low the player must use precisely three cards from the board, and exactly 2 hole cards. Not a single card more, not a single card less. Unlike normal Omaha, there are two ways a pot might be won: the "higher hand" or the "lower hand."
A high hand is just what it sounds like. It’s the best hand out of everyone’s, regardless if it is a straight, flush, full house, etc. It is the same notion in nearly all poker games.
The low hand is more difficult, but really opens up the action. When deciding on a low hand, straights and flushes do not count. A low hand is the weakest hand that can be made, with the lowest value being A-2-3-4-5. Since straights and flushes don’t count, A-2-3-4-5 is the smallest value hand possible. The low hand is any 5 card hand (unpaired) with an 8 and below. The low hand takes half of the pot, as just like the high hand. When there is no lower hand available, the high hand takes the whole pot.
It may seem complex initially, following a couple of hands you will be able to get the fundamental nuances of the game easily enough. Since you have individuals wagering for the low and wagering for the high, and seeing as such a large number of cards are being used at the same time, Omaha/8 offers an overwhelming assortment of betting possibilities and because you have many players trying for the high hand, as well as many battling for the low hand. If you love a game with a lot of outs and actions, it is not a waste of your time to play Omaha 8 or better.