For those wishing to play Omaha you have to realize that the game has two versions. The first game when playing Omaha is the Omaha High Only. It is similar to the other version the High Low Omaha in that both these games when played do not change the betting structure. The popular structures of betting in these games are the pot limit, the limit and the no limit bets.
The Omaha games have various names such as the Hi Lo, Omaha 8, Or the Better. All these refer to the same game. The Hi Lo Omaha strategy seems to be the most common in the casinos and more players are opting for the game because there is are more players staying in when the high and lows split the pot.
The Hi Lo strategy is for the player to have a qualifying hand. To proceed as a low, the player must not have a card with a value greater than 8 among all the dealt five cards. There is a rule that no flash or straights count when deciding on the low hand. This makes A2345 the lowest hands. The other Omaha strategy is for the player to have three cards that have values of eight or lower once the player uses the other two cards from their hand.
The Omaha High rules are that when the game reaches this level and there is no one with a low hand that qualifies then the player with the highest hand is the overall winner of the pot.
Omaha rules hi low, require that the players look at their dealt four cards and then they raise the hand if they realize that they have an A-2. The advantage is that one qualifies for the low by having three or more low cards on the board. The other reason is that if there is an ace or duce that shows up then you cannot use this card in the river unless there is a forth-low card.
Also, consider the probability of other players with the two cards. Some would like to be in this hand. In this instance should it be that you make a low then you get half the low pot, which is a quarter. The real Hi Lo Omaha strategy is that which leads the player to scoop the pot. In the four-card game, the player has permission to combine both low and high to form the high hand. This however gives no player in the game an upper hand as the games of poker all have the ultimate strategies based on luck and probabilities.