HORSE is a five-game poker rotation: Hold'em, Omaha Hi-Lo, Razz, Seven-Card Stud and Seven-Card Stud Hi-Lo Eight-or-Better. It is normally played with fixed-limit betting. The letters identify the games in their usual order.
Example
Example of HORSE
After a round of Omaha Hi-Lo, the table moves to Razz. A low hand now wins the whole pot, and straights and flushes do not count against it.
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