#1 – If you have a good starting hand, raise with it. Too many players don't recognize the value of having a good starting hand and are afraid to put in money before they have seen the flop. You're losing value by doing this – raise it up!
#2 – In a raised pot, a hand like A-A-x-x goes up in value rather than down in value. Why? Because the likelihood that the raiser has a hand containing an ace is much more probable. Don't be afraid to re-raise with A-A-x-x hands in these situations. You'll not only thin the field, but most of the time you'll be way ahead.
#3 – It's ok, in fact it might even be preferable, to throw away A-2-x-x in a heavy action, multi-way, raised pot. The reason being is that most of the other players will already be holding cards that help your hand or are sharing the same hand that you have. If you do win something, it's either going to be because you get extremely lucky in hitting your other two cards, or it's going to be minimal because you're splitting the low with one or two other players... and that's if the low hits. If it doesn't, you're out all that money you put in pre-flop just in the hopes of hitting a low hand.
#4 – Don't be afraid to play high only hands. These can be huge money makers because so many people are playing hands that have only low potential or have low and high potential. The good thing about a high only hand is that you don't lose any additional money chasing a low when two low cards flop. The flop either helps you or doesn't and your decisions are easy to make.
#5 – Play cards that work together. The best Omaha hands are the hands that have multiple ways of winning. I'd much rather have a hand like 3-4-5-6 double suited than I would A-2-7-J rainbow because there are multiple ways you can win a pot with the 3-4-5-6 while the A-2-7-J will mainly be playing for the low and the very occasional high hand.
#6 – Avoid the middle runs. What I mean by this is avoid hands like 9-8-7-6 or 7-6-4-3. While these hands have some value in Omaha High, in Omaha High Low they are terrible because you will almost never make the low and your high hand will often be beat by a better high hand.
#7 – Position is power. While most people equate this statement as being a Hold Em truism, it is true in all forms of poker including Omaha High/Low. The more information you have available to you, the better the decisions you can make. Play fewer hands in early position and more hands in later position.
#8 – Don't bluff. There are a few times you can bluff in Omaha High/Low. For example, a prime time to bluff is if you are in a two or three way pot and the flop comes all high cards and it is checked to you. Even if the flop missed you here, this is a perfect time to bet. However, in most instances, bluffing should be avoided at all costs in Omaha Hi/Lo because people will not fold if they have the potential to win part of the pot, even if it means they only have a crappy pair or low. They will often call hoping that one of these will be good enough to take ½ the pot.
#9 – Don't raise with the nut low in a multi-way pot. Chances are someone else has the same hand and you are going to win only ¼ of the pot. Unless you know for certain you have the nut low or there are five or more people in the pot and everyone is calling (in these instances, winning ¼ will still be profitable), you're better off just playing passively and calling bets rather than raising.
#10 – Be patient. One problem many Omaha 8 players face is that they want to get in on the action. You'll be dealt plenty of playable hands over time, so wait for them to come. Don't feel like you have to jump in the action with A-5-8-9 just because you haven't played a hand in 20 minutes. This is how bad Omaha 8 players play and it's also how they lose money.