Pot Limit Omaha is quickly gaining popularity in both online poker rooms and land-based casinos. The premise of the game is akin with that of Texas Hold’em, with a few key differences.
The object of the game is to develop the best 5-card poker hand from the 9 cards available (4 Hole Cards and 5 Community Cards). The highest ranking poker hand wins the pot.
What separates Omaha from Texas Hold’em however is not just the amount of Hole Cards dealt, but the way they must be used. A player MUST combine any of his 2 Hole Cards with any 3 Community Cards when developing a hand.
Small Blinds and Big Blinds are used to sweeten the pot. The Small Blind is equal to the low-end stakes, while the Big Blind is equal to the high-end stakes. So, if the stakes are $2/$4, the Small Blind is $2, and the Big Blind $4. We’ll continue using $2/$4 stakes throughout this tutorial.
Blinds are placed before any cards are dealt. The player left of the dealer button places the Small Blind, while the player left of him places the Big Blind.
The Pot Limit betting structure defines the minimum and maximum bets and raises throughout the hand. The minimum wager is based on the stakes, equal to the high-end of $4. The maximum wager is always equal to the size of the pot.
The game begins after Blinds have been placed as each player is dealt 4 Hole Cards. The first round of betting starts with the player left of the Big Blind, who may Call the Big Blind ($4), Raise (max $16) [$4 pot + $4 bet = $8, Pot Limit Raise of $8 = $16], or Fold. Betting continues around the table in this fashion until the Small Blind bettor, who may call or raise the current bet by adding enough chips to the Small Blind to do so (or Fold). The Big Blind may Check (if no one has Raised), Call, Raise or Fold. Once all bets are called, the hand continues.
The Flop: Three community cards are dealt face-up to the center of the table. Another round of betting begins, same as the last, but starting with the Small Blind bettor this time. He may Check or Bet.
The Turn: A 4th community card is dealt, followed by another round of betting.
The River: A 5th and final community card is dealt. That last round of betting ensues.
The Showdown: A showdown is only necessary if two or more players remain active in the hand (e.g. everyone hasn’t Folded). Each active player will combine exactly 3 Hole Cards and 3 Community Cards to develop the strongest hand possible, then reveal the cards. The highest hand wins the pot.