Omaha
Players
Up to 10 players maximum.
Dealer
Like in Texas Holdem the dealer button indicates who the dealer is. The deal moves clockwise.
Blinds
The most common way to play Omaha is with two blinds, small blind and big blind. Before the cards are dealt the blinds must be posted. The player to the left of the dealer posts the small blind and the next player in turn posts the big blind. The blinds are considered as "live" bets. If you have posted a blind you are only required to make up the difference, if any, between the blind and the current bet. The players in the blinds have the option to fold, call, check or raise in turn.
Deal
Each player receives 4 pocket cards dealt face down. .
Next there will be 3 community cards dealt face up on the board, "the flop". Then another community card, "the turn" or "fourth street" will be dealt. Finally the last community card, "the river" or "fifth street", will make it 5 cards face up on the board.
Betting order
In Omaha like in Texas Holdem, there are 4 betting rounds. The first betting round takes place after each player is dealt his hole cards. In this round the player to the left of the big blind is first to act. In the following betting rounds the first active player to the left of the dealer button starts the action.
Showdown
When the betting after the River is finished, there is a showdown to determine the winner. The best 5 card hand wins the pot. The players must use exactly 2 of their 4 hole cards and 3 community cards. If two or more players show the same hand they split the pot. If there was betting on the River the player who made the last bet or raise must show his hand first. If there was no betting the first remaining player to the left of the dealer shows his hand first.
There is two common variations of Omaha, High and High/Low. Omaha High, where only the highest hand win is the most popular form so we will focus on that.
Pot Limit Omaha
The most common betting structure for Omaha is Pot limit. The pot limit game limits betting and raises to a maximum that is currently in the pot. If the pot holds $50, you can not bet more than $50. If you are raising on a player's bet, your call is included in the pot already. If, for example, the pot is $In a Pot Limit Game, the maximum bet/raise can't be more than the current pot amount. So, if the pot is $100, you can't bet more than $100. If you are raising on a bet, the call is already included in the pot. For example, if the pot is $100 and Player A opens the betting round with a bet of $100 and it is now your turn to bet, the most you can bet $300 (The pot's $100 plus the bet from Player A of $100 plus your bet of $100)
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