Omaha Hi-Lo (also known as Omaha 8 or better) is commonly viewed as one of the most complex but well-loved poker variations. It is a game that, even more than normal Omaha poker, aims for action from every level of players. This is the main reason why a once invisible variation, has grown in acceptance so quickly.
Omaha 8 or better begins just like a normal game of Omaha. 4 cards are dealt to every player. A round of wagering ensues where players can wager, check, or drop out. Three cards are handed out, this is referred to as the flop. Another round of wagering ensues. After all the gamblers have either called or dropped out, a further card is flipped on the turn. Another sequence of betting happens and then the river card is revealed. The players will have to put together the best high and low five card hands based on the board and hole cards.
This is where a few entrants often get flustered. Unlike Holdem, in which the board can make up everyone’s hand, in Omaha hi low the player has to use exactly 3 cards on the board, and exactly 2 hole cards. No more, no less. Contrary to 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 best hand out of everyone’s, whether that is a straight, flush, full house, etc. It’s the same concept in nearly every poker game.
A lower hand is more complex, but certainly opens up the play. When deciding on a low hand, straights and flushes don’t count. A low hand is the worst hand that can be put together, with the lowest value being A-2-3-4-5. Because straights and flushes do not count, A-2-3-4-5 is the worst possible hand. The low hand is any 5 card hand (unpaired) with an eight and smaller. The low hand wins half of the pot, as does the high hand. When there’s no low hand presented, the higher hand wins the complete pot.
While it seems complex at first, after a few hands you will be able to get the basic nuances of the game simply enough. Seeing as you have players betting for the low and betting for the high, and seeing as so many cards are in play, Omaha/8 offers an overwhelming array of betting choices and because you have numerous players shooting for the high hand, and many trying for the low. If you prefer a game with a plethora of outs and actions, it’s worth your time to play Omaha/8.