Aspiring rounders were flooding the Internet to try this new craze and most of them had no clue what they were doing at all. Having played other forms of poker before, the strategy articles helped me a lot in my transition to the new game. My new gold mine where you find the best online action today, in my opinion, is Omaha. If two players have reasonable hands, one is rarely more than a favorite over the other. But as a novice you should probably play fewer hands - for the most part, only starting hands where all four cards are connected in some way.
Omaha is a drawing game. When playing Omaha you will often have to commit a large part of your chip stack without a made hand - because of the great odds you get on your draws.
The most important thing to remember in Omaha is that you should always be drawing to the nuts. It can prove to be very expensive.
You hold As-7s-9h-7h and the flop comes Ac-Td-8h. You have a top pair with a straight draw, but you are drawing to the bottom end of the straight. The only card that will give you the nuts is a 6.
The risk is that another player has something like K-Q-J-x or Q-Jx and will make a higher straight. I am amazed how often players pay you off with a sucker straight against your nut straight or decide to draw to a flush on a paired board when you already have a full house.
Sitting in late position is great because you get more information than your opponents, but in Pot-Limit Omaha you also get good control over the pot. If you make a bet in early position in Omaha you give a lot of ammunition to your opponents acting behind. The pot-limit structure makes it possible for them to come over the top of you for a large amount. For this reason you should never raise pre-flop in early position. You commit money to the pot, but have no control over the betting on the later streets.
Say you have A-A-x-x and raise it up under the gun. What do you do when you fail to improve your hand and have three players acting behind? The same goes if you flop a decent hand in early position, say a middle set. If you bet out here and someone comes over the top, you are forced to play a very big pot if you decide to continue.
You have a lot better control over the pot in late position. If somebody bets into you, you can choose to call with decent draws and come over the top with strong hands that you want to protect. So be careful and never raise pre-flop in early position the only exception is when you can get acheck-raise in for over half your stack with aces.
Be prepared to have bigger swings when you play Omaha - and to play larger pots in general. It is not uncommon that both you and your opponent have the correct odds to commit all your chips and let the cards in the deck decide the outcome.
You hold Kh-Kc-Jd-9c on the button. The flop comes Ks-Jh-8d. You have flopped the nuts! Better yet, your opponent makes a pot-sized bet into you. But this is a dangerous board, so you decide to come over the top. He re-raises you all-in and you call. Your opponent holds Qs-Th-9d-8s, and has a very strong wrap straight draw. This is virtually a coin flip, with your opponent as a slight favorite.
There is no way that either one of you could get away from this hand - you both have to risk your whole stack on a coin flip. With this flop you are a favorite against all hands except wrap straight draws and your opponent is a favorite against most hands except sets. If you educate yourself about them and adjust your Omaha play accordingly, your chances of making some serious money at the poker table will skyrocket.
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