Omaha High
At casino Omaha tables, a round plastic marker called the dealer "button" is placed in front of the player who would be dealing if a house dealer were not provided. The button is moved one seat clockwise after each game and the card distribution and betting starts to the left of that position.
The play begins with four cards dealt facedown to each player. Action starts with a betting round beginning with the player to the left of the blind bets and continuing clockwise around the table. Players may bet, check, raise or fold in turn. The big blind has the privilege of last action and may check or raise the bet.
Three community cards called the flop are then dealt up in the center of the table and another betting round takes place beginning with the player to the left of the dealer button. Another card is dealt face up (called the turn) followed by a round of betting.
The fifth and last card called the river is dealt face up and a final round of betting takes place. Players remaining in the hand will then show their cards and the winning poker hand will be awarded the pot. Players must form their best five-card poker hand from only two of their four pocket cards and any three of five community cards. Once all betting is complete, players determine the best five-card hand that they can make from two of their four pocket cards and three of the five community cards. Four of these cards will be in their own possession and dealt as down cards, and five will be face up as community cards to be shared by all players.
Therefore, if a player is dealt four kings down, only two of the kings count toward the final hand. The remaining three cards must come from the community cards. The player with the best five-card poker hand wins the pot. Should multiple hands tie, the pot is split with any odd amount going to the player immediately to the left of the dealer.
Strategy
In full Omaha game, it usually takes the "nuts" hand, or something close to that, to win. Two pair and trips don't win very often in Omaha. Because Omaha players all start with four cards, if five other players after still in after the flop, it is comparable to a Texas Hold'em game against thirty other players.
More than any other game of poker in Omaha you need to play tight and wait for the good hands. One or two good hold'em hands is usually not a very good starting hand in Omaha but many players can not resist the urge to play them. With four cards to choose from, these kinds of hands are easy to get and Omaha games normally have more players and bigger pots than in Hold'em. The higher payoffs work to your advantage when you usually start with hands that contain four cards that all interact with each other to make about five or six decent Hold'em hands instead of only one or two.
Premium Hands:
• HIGH PAIR - AA, KK, QQ, JJ, 1010 ACE and HIGH CARD SUITED - AK(S), AQ(S), AJ(S), A10(S)
Strong Hands:
• HIGH CARDS SUITED - KQ(S), KJ(S), K10(S), QJ(S), Q10(S), J10(S)
• MIDDLE PAIRS - 99, 88, 77, 66 TWO HIGH CARDS - AK, AQ, AJ, A10, KQ, KJ, K10, QJ, Q10, J10 • ACE and MIDDLE CARD SUITED - A9(S), A8(S), A7(S) A6(S)
• MIDDLE SUITED CONNECTORS - 10 9(S), 98(S), 87(S), 76(S)
Minimum Hands:
• LOW PAIRS - 55, 44, 33, 22
• ACE and LOW CARD SUITED - A5(S), A4(S), A3(S), A2(S)
• ANY TWO CARDS to a STRAIGHT - ie: 10 6, 98, 75, 73, A4 Throw-Away Starting Hands: These hands should be automatically folded without any further consideration:
• Quads - (including) A A A A
• Trips - (except A A A with a high side card suited is sometimes playable)
In Victor Chandler's poker school, you can read more on Omaha hi strategy.
PartyPoker's poker academy is also recommended.
Stay aware of the nut hand possibilities. As the board develops, make sure that you always know what the three best hand possibilities are, and how that might change on the next card. High pair with an overcard is a good flop in Hold'em but not in Omaha. In this game you need to flop two pair, a set, or better.
Usually don't raise before the flop unless you are holding Aces or Kings and are in position to narrow the field. Another time to raise is when you are unraised on the button and have a strong hand. Try not to let the blinds play bad hands cheap. Fold your straight or straight draw if that's all you have and you don't flop an unpaired rainbow.
If you do get the right kind of flop, bet/raise to discourage the back door flush draws. Don't over value low pairs. A pair of fours in your starting hand is only useful if it flops a set, but then a low set on the flop is not a very strong hand in Omaha. Study your opponents, especially when you are not playing hands and can pay careful attention. Do they find more hands to play than they fold? Do they bluff? Can they be bluffed.