Omaha
Omaha is a community-card poker variant, just like Texas Holdem. Game-play in Omaha looks a lot like Texas Holdem, with only a few minor differences. In Omaha Hi the only difference is that players get 4 pocket cards instead of two. The blinds-structure, the betting rounds, the five community cards (flop, turn, river) are all the same. One very important detail is that players may only use exactly 2 out of their 4 hole-cards to make their showdown hands.
In Omaha Hi/Lo although game mechanics remain the same, there are some radical changes in optimal strategy. Players do get a higher proportion of their eventual showdown hands upfront, and this, together with the hi/lo structure, turns this game into a game of nuts.
Schooling is possible in Omaha Hi/Lo, but it is counterproductive for the schooling fish. If you’re a good Omaha player, you should stick to Omaha instead of Holdem because fish are less likely to frustrate you here.
The game starts with the posting of the blinds (a BB and a SB, just like in Holdem). Players get all their hole-cards next, and the first round of betting commences. The flop lands on the board after the dealer burns a card, followed by the post flop betting. The turn and the river are the last two community cards, both of them followed by a betting round. The last betting round is followed by the showdown which decides the winner.
In Omaha Hi/Lo both the highest and the lowest hands win. If they belong to different players, the pot is split. If the same player has both the high and the low, he scoops the pot.
Players may only use 2 cards form the pocket and exactly 3 from the board to make their showdown hands. The may use the same cards or different ones for their high and low hands.