Omaha Hi-Lo (8 or Better)
Omaha Hi-Lo and Omaha are the same game but with one exception that can change the strategy in a big way. In Omaha Hi-Lo, there is the possibility of two winning hands per game, the highest ranked hand and the lowest ranked hand providing that a hand qualify as a low hand.
In order to qualify as a low hand the player's hand cannot have any card higher than an eight. Straights and flushes are not considered when judging a low hand, therefore best possible low hand is A-2-3-4-5 as Aces are counted as both a high and a low card. The straight Ace to five gives the player the unique possibility to win both the high and low pot.
The game play follows the same format as Texas Hold'em but instead of two hole cards, each player receives four hole cards.
Fixed Limit
In a Fixed Limit game, the bet and raise amount are a pre-set amount. The betting is equal to the big blind in the first two rounds of betting but doubles for the last two rounds. There is a maximum of four bets per betting round, a bet and up to three raises. For example in a $5/$10 the players must bet $5 and raise by $5 up to a maximum of $20 for the pre-flop and flop rounds, they must bet $10 and raise by $10 up to a maximum of $40 for the turn and river round.
Pot Limit
In a Pot Limit game, the maximum bet/raise cannot exceed the total amount of money in the pot. Therefore, if the pot is $45 you cannot bet more than $45. If you are raising another players bet, your call is already included in the pot. For example if your opponent opens with a $100 wager, your maximum wager could be $300.
No Limit
No limit poker as the name suggests has no maximum bet or raise amount. The only limits in no limit poker are the size of your chip stack. The minimum bet amount must be at least equal to the big blind or that of the last bet on the table.