Omaha Hi/Lo is exactly the same as
Omaha except that it is a split pot game. In split pot games the pot is split equally between the best high hand and the best
qualifying low hand.
A qualifying low hand must contain five cards of 8 or below. Exactly two of those cards must come from a player’s hole cards – no more, no less. The best (or nut) low hand is A-2-3-4-5. Note that it doesn’t matter if your low hand is also a straight (or a flush for that matter). This does not disqualify your hand from being counted as a low hand – in fact all it does is give you a great shot at winning the high hand as well!
When two or more players have a qualifying low hand the winner is the player with the lowest HIGH card (so if I have A-2-3-4-8 and you have 2-3-4-5-7 then you win.)
High AND Low
It’s always best in split pot games to play hands that have a shot at winning both the high and the low halves of the pot. For example A-2-3-4-5 is the nut low as well as a 5-high straight. And Ac-2c-3c-5c-7c is a good low hand as well as the nut flush.
Using all four hole cards
In Omaha Hi/Lo you can all four of your hole cards, but not in the same hand. Let’s say you have A-2-3-7 and the board reads 4-5-6-K-Q. Your (nut) low hand uses the ace and the two from your hole cards to make A-2-4-5-6. Your high hand is a straight using the seven and the three from your hole cards: 3-4-5-6-7.
Or let’s say you start with Ac-4h-8c-8d and the board shows 8h-5h-5c-Ac-2c. In this hand you use the two eights in your hand to make a full house: 8c-8d-8h-5h-5c, while you use the ace and the four to make a good, but beatable, low hand: Ac-2c-4h-5c-8h.
An ace in the hand is worth two...
Because an ace can be used to make a nut low hand as well as a nut high hand it is an extremely valuable card to have in the hole. Aces are effectively worth two cards, so starting hands with aces in are immeasurably stronger than hands without one; although hands such as 2-3-4-5 can make the nut low (if an ace falls on the flop) and K-K-Q-Q can make strong high hands, it is always an ace that players hope to see when they peer at their hole cards.
Counterfeiting cards
No, not forgery, but something else to keep your eye on. A counterfeiting card is a card of the same value as one you have in the hole and are using to make a qualifying low hand. It is a very frustrating but very common occurrence and you need to keep your eye on it otherwise you may find yourself a lot poorer a lot quicker.
Take the following example: you have Ac-2h-Kh-Qd and the flop is 3c-5d-6d. At this point you have the nut low hand: Ac-2h-3c-5d-6d (as well an unlikely gutshot straight draw).
But what if the two of spades falls on the turn? Remember you have to use exactly two of your hole cards to make a qualifying low. Try as you might, you will no longer be able to make a qualifying low hand from the four cards on the table and the four in your hand. Now if the river card was either a four, a seven, or an eight you would once again have the nut low, but if any other card falls you’ll have nothing but a high card or a single pair at best – and that isn’t going to win you many pots in Omaha Hi/Lo.