Omaha Hi-Lo (also known as Omaha/8 or better) is often times seen as one of the most difficult but favored poker games. It’s a variation that, even more than regular Omaha poker, aims for action from every level of players. This is the main reason why a once irrelevant game, has grown in popularity so quickly.
Omaha 8 or better starts like a regular game of Omaha. Four cards are given out to each player. A round of betting ensues where players can wager, check, or fold. Three cards are given out, this is known as the flop. One more sequence of betting ensues. After all the players have in turn called or folded, an additional card is revealed 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 5 card hands based on the board and hole cards.
This is where a number of players get flustered. Contrasted to Texas Holdem, where the board can be every player’s hand, in Omaha Hi-Lo the player has to use exactly three cards from the board, and precisely two hole cards. No more, no less. Contrary to normal Omaha, there are two ways a pot could be won: the "high hand" or the "lower hand."
A high hand is exactly what it sounds like. It’s the strongest hand out of everyone’s, regardless if it is a straight, flush, full house, etc. It’s the same approach in almost every poker game.
The lower hand is more complicated, but really opens up the play. When determining a low hand, straights and flushes don’t count. the lowest hand is the weakest hand that can be made, with the lowest being A-2-3-4-5. Considering that straights and flushes don’t count, A-2-3-4-5 is the smallest value hand possible. The low hand is any five card hand (unpaired) with an 8 and lower. The low hand takes half of the pot, as does the high hand. When there is no lower hand presented, the higher hand takes the complete pot.
While it seems complex at the start, after a couple of rounds you will be able to get the fundamental nuances of the game with ease. Since you have people betting for the low and wagering for the high, and since so many cards are being used at the same time, Omaha hi-low provides an exciting assortment of wagering options and because you have several individuals shooting for the high hand, along with several shooting for the low. If you like a game with a lot of outs and actions, it is not a waste of your time to compete in Omaha 8 or better.