Omaha Hi/Lo is another variation of Omaha. In this variant the betting, blinds, and postings are exactly the same as in Omaha. The difference comes at the showdown, the pot is split between the holder of the highest hand, and the holder of the lowest hand, if the low hand qualifies.
To make a low hand, you must have 5 distinct cards with no pairs, and no card higher than an 8. Since you must use two cards to make your hand, two of the cards in your hand and three from the board all need to be 8 or lower. As straights and flushes don't count the best low hand is A-2-3-4-5 of any suit. Ranking starts with the highest of your low cards, so 7-6-5-4-3 is 8-low and would beat 8-7-5-4-3-2 a 7-low. If two players make a low hand and have the same hi card, the next highest card wins, so 7-5-4-3-2 beats 7-6-4-3-2. If there is no low hand the entire pot goes to the high hand.
Play is structured the same as Omaha high with each player needing to make a five card hand. Players are dealt four cards face down, called their hole cards The dealer then places five cards face up in the middle of the table, each player can use these community cards, giving them access to a total of seven cards. What makes Omaha Hi/Lo different to Omaha high is that each player potentially has two hands, a high hand and a low hand.
If there is no low hand the player with the best high hand wins the whole pot. If there is a low hand and a high hand the pot is split between the winning players. A player can also win the whole pot if they have the best high hand and the best low hand using the same set of cards.