There is more to pot limit Omaha Hi-Lo strategy than counting your odds and outs. This exciting poker variation is as much characterized by your betting strategy than the 4 cards that you hold.
In pot-limit games the maximum raise is dictated by the size of the current pot. If the pot were $10 on the flop and you bet the full $10 your opponent can raise $40 more – after which the next player can raise a maximum of $140. The exponential nature of betting increases lead to several strategy adjustments based on your table position and your hole cards.
The most important strategy consideration for Pot Limit Omaha Hi-Low is to play hands with ‘scoop' potential. At showdown the pot is split between the highest and lowest hands using exactly 2 cards from your cards and 3 from the 5-card board. Different cards are used for the high and low sides of the pot.
Hands such as A-2-3-K suited to the ace have potential to make flushes and straights as well as low hands and are considered premium starting hands. Holdings made up of middle cards or hands without an ace are dangerous – they can easily make the second best hand.
Pot limit betting strategy is dictated by your position at the table. A raise from an early position at a full (9 or 10 handed) table can be a strategic error with all but the best pre-flop holdings. There are 2 reasons for this, firstly the size of the raise can increase dramatically if other players re-raise. You could potentially be facing a raise of 10 times your initial bet before the flop is even dealt if several opponents become involved – forcing you to abandon a hand which had some flop potential.
Secondly, if you raise from early position and are called in several places then you have to act first after the flop. That is you need to bet or check before any other player has acted. This is fine when you hit the flop hard with a nut hand or draw to one. However if the situation is unclear and you are re-raised from a late position player it can be difficult to know where you stand in relation to your opponents holdings.
Conversely the advantages of acting last are huge in pot limit Omaha poker. If the other players in the hand check to you after the flop you have an option to take a free-card. Giving a free card is dangerous in hi-low split games due to the large number of draws available. This means that checks from opponents are more likely to indicate weakness and it may be possible that a strong late position bet can win you the pot immediately.
Trouble hands in pot limit Omaha hi-low include those likely to make 2 nd best low hands and those hands containing several middle cards (7-8-9-10 for example). In a game where either holding the nuts or having a strong draw to the nuts is paramount making a second best hand can be very expensive.
A common example when playing trouble hands is when you share the low pot while an opponent takes the high side. This is known as being ‘quartered' since you get only a quarter of the pot. When the big bets and raises start going into the pot being quartered can become an expensive strategy error. Use your reads on opponents, superior starting hands and table position to ensure you do not get caught in a ‘raising war' with only a quarter of the pot as a potential reward.
Pot Limit Omaha hi-low strategy can be summarized as follows. Play only hands with scoop potential, be aware of your table position and adjust your betting strategy accordingly and avoid paying to draw to the second best hand or one that can only win a quarter of the pot.
