Although Omaha is also a variation of "Hold'em" games (both Texas and Omaha combine the cards in your hand, some community cards and a four round betting structure) nobody calls this game "Omaha Hold'em" - just "Omaha".

While similar to Texas Hold'em (which most people just call "Hold'em") Omaha continues to be popular at the higher and lower limits. Every player is dealt four cards and to make their best hand, players must use exactly two of them in combination with three of the five community cards. The best five-card poker hand wins the pot.

The game is identical to Texas Hold'em in respect to dealer button and blinds.

In Omaha each player is dealt four hole cards (also known as "pocket" cards) instead of two in Hold'em. In order to make a hand the player must use precisely two hole cards out of the four dealt, along with exactly three cards from the board.

The betting rounds and the dealing of the community cards are identical to Texas Hold'em.
The 1st round of betting takes place; then
The flop or 3 community cards are dealt face up; then
The 2nd round of betting takes place; then
The fourth community card (also known as the "turn") is dealt face up; then
The 3rd round of betting takes place; then
The fifth community card (also known as the "river") is dealt face up; then
The 4th and final round of betting takes place.

At the showdown the player's entire hole cards (4 cards) are shown to receive the pot - of these, the player must use 2 cards from his hole cards and 3 cards from the board to create his hand. The player with the best five card hand is the winner of the round and wins the pot. If there are multiple winners with the same hand, the pot is split between these players.

Omaha Hi/Lo is a popular version of Omaha that requires a good understanding of the basics to play at a competitive level. The game differs from Omaha as the player with the best high hand splits the pot with the player who has best low hand. There is always a high hand winner but not always a low. If there's no low hand, the player with the high hand wins the whole pot. It is also possible for the same player to win the whole pot if they can use their cards to make both the best high hand and best low hand.

For a hand to qualify as low it must have five denominations no higher than an eight and no pairs, 8 7 6 5 4 or lower. Straights and flushes do not disqualify a hand from being considered as low and have the same ranking as an unsuited 5 card hand of the same denominations.

Aces can be played both high or low so a player ending with 5 4 3 2 Ace, would have an unbeatable low hand and also a 5 high straight to play for the high hand. This hand is known as "The Wheel", and is a very powerful hand in Hi/Lo games.

If two or more players have the same high card in their low hand, then the next lowest high card wins. The lowest hand is determined by the high cards first.

The game is identical to Omaha and Texas Hold'em in respect to dealer button and blinds.

As in Omaha, the player must use precisely two hole cards out of their four, and three community cards out of the five to make a hand. Any two hole cards can be played for the high hand and any two for the low.

The betting rounds and dealing the community cards are identical to Omaha and Texas Hold'em.

At the showdown the player's entire hole cards (4 cards) are shown to receive the pot. If there is no qualifying low hand, the player with the best high hand wins the whole pot. Otherwise the pot is divided equally between the best high hand and the best (lowest) low hand.

If more than one person holds the same winning high or low hand, then that portion of the pot is split between the players. This is known as being "quartered" - as players can end up with a quarter of the pot.