Omaha Hi-Lo splits the pot between the best high hand and the best qualifying low hand. A low requires five different ranks of eight or lower. Each hand must use exactly two hole cards and three board cards. Without a qualifying low, the high hand wins everything.
Example
Example of Omaha Hi-Lo
You hold A-2-K-K on a 3-4-8-K-Q board. A-2 with 3-4-8 makes an eight-low, while K-K with K-Q-8 makes three kings. The same player can win both halves.
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