In Omaha, sometimes called “Omaha high,” players get four down-cards and must use two of them — and only two — along with three community cards, to make their hands. Before the cards are dealt, the two players to the left of the dealer — or the player acting as dealer — post bets called “the big blind” and “the small blind.” The small blind, posted by the player to the dealer's immediate left, is half of the lower bet limit (usually rounded to the next highest dollar, so at a $3–$6 table, the small blind would be $2). The player to the left of the small blind player posts the big blind, equal to the table's lower bet limit. After each player has her four down-cards, the first round of betting starts with the player to the left of the big blind. In this round, players can check, fold, call, or raise.

After the first round of betting, three cards are dealt face-up in the center of the table, called “the flop.” Then the second round of betting takes place. From this round on, betting action begins with the player to the left of the dealer's button and proceeds clockwise around the table. After the second round of betting is complete, a fourth community card, called “the turn” or “fourth street,” is dealt, followed by the third round of betting.

The size of the bet is doubled on the third round in Omaha. For example, at a $3–$6 Omaha table, all bets and raises during the first two rounds would be $3; in the third and fourth rounds, all bets and raises are $6. After the third round of betting is finished, the final community card, known as “fifth street” or “the river,” is dealt, and players make their final rounds of bets before showing their hands.

“Omaha 8 or better” is a split-winnings variation of Omaha, in which the high and low hands divide the pot. In this version, the high hand automatically wins, but the low hand must consist of different-valued cards between ace and 8 with no pairs. (If there is no qualifying low hand, the high hand wins the entire pot.) As in regular Omaha, you must use two of your hole cards and three of the five community cards to build your hand. However, you can use one set of cards to make a high hand and another set to make a low hand; when this happens, you “scoop” the entire pot.

On the low side, the win goes to the player with the lowest high card. For example, a player with 2-4-5-6-7 would beat a player with 2-4-5-6-8. The best low hand is A-2-3-4-5, sometimes called “a bicycle” or “the wheel”; straights and flushes are not counted against you for a low hand. If two players have the same high card, the next highest card determines the winner. If all cards have the same numeric value, the two players split the low half of the pot.

How to Bet Omaha

Your cutoff for bad cards in Omaha should come after the flop is dealt and before the third round of betting, when the bet size doubles. As in seven-card stud and Texas Hold'em, you should cover all bets until the third round if you have a pair of aces or better; if you haven't improved your hand with the first three community cards, you're better off folding. Most Omaha hands require a straight or better to win; don't waste your bankroll if you don't have the cards.