Omaha Hi-Lo (also known as Omaha/8 or better) is commonly seen as one of the most difficult but well-loved poker games. It is a game that, even more than regular Omaha poker, aims for action from every level of players. This is the chief reason why a once invisible variation, has increased in popularity so amazingly.
Omaha 8 or better begins like a regular game of Omaha. Four cards are given out to each player. A round of wagering ensues where gamblers can wager, check, or fold. 3 cards are handed out, this is called the flop. Another round of betting ensues. After all the players have in turn called or dropped out, another card is flipped on the turn. an additional sequence of betting follows and then the river card is flipped. The gamblers will have to make the best high and low five card hands using the board and hole cards.
This is the point where some players often get baffled. Contrasted to Texas Holdem, where the board can make up everyone’s hand, in Omaha hi-low the player has to utilize precisely three cards from the board, and exactly 2 hole cards. Not a single card more, no less. Unlike normal Omaha, there are 2 ways a pot may be won: the "higher hand" or the "lower hand."
A high hand is just how it sounds. It’s the best hand out of everyone’s, whether that is a straight, flush, full house, etc. It is the very same concept in almost every poker game.
The low hand is more difficult, but really opens up the action. When deciding on a low hand, straights and flushes don’t count. A low hand is the worst hand that can be made, with the lowest value being made up of A-2-3-4-5. Seeing as 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 low hand takes half of the pot, as just like the high hand. When there is no lower hand available, the higher hand takes the whole pot.
While it seems complicated initially, after a couple of hands you will be able to pick up on the basic nuances of play easily enough. Since 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 offers an amazing range of wagering options and because you have many individuals battling for the high, along with many shooting 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.