Lots of hold'em players who are new to Omaha have trouble adjusting to the game. This is partly because playing Omaha requires a different mindset than playing hold'em (because Omaha is a drawing game, and therefore, there isn't necessarily such a thing as the "best hand" on the flop, like there is in hold'em), and partly because it's not as easy to know what to look for in a starting hand. (If you are interested, Bob Ciaffone has an excellent chapter on this exact topic in his book Omaha Hold'em Poker.) In the two columns on pot-limit Omaha in this series, I will discuss some of these starting hands: if, when, and how they can be played for profit. Please note that the game here is pot-limit Omaha, high only. For pot-limit Omaha eight-or-better (high-low, eight-or-better), totally different comments would apply.
Hand No. 1: A
K
Q
J
Analysis: Lots of hold'em players think this is a great hand, and treat it like it's the nuts. Even though it is a good Omaha hand, I am not too fond of it, actually. For the most part, it's because the hand has no suits, which weakens it considerably, especially its potential to flop a big hand/big draw when lesser hands and weaker draws will pay you off. Even though you hold four connected cards, it's not that easy to flop a big wrap (if the flop comes 10-9-X, for example, you play just the K-Q-J, and your ace is practically worthless). What you want to flop with this hand is top two pair (giving you a gutshot-straight draw as well – for example, K-J-6 rainbow) against an opponent with the same two pair but nothing extra. You will be freerolling with the ace, queen, or 10: You are practically certain to get half the pot, but have lots of outs to improve over your opponent to take the entire pot, free of risk. Some other excellent flops are J-10-X (top pair plus a wraparound-straight draw), Q-J-X, J-J-X when you're up against the other jack but not a full house, or Q-Q-J. The quality of your hand lies in the fact that if you're up against someone who's also holding Q-J, all the money is likely to go in on the flop and you've got six outs twice (three aces, three kings) to improve over your opponent – and again, it's free of risk (as you can never lose). Hold'em players might think the best flop would be A-A-K, but how are you ever going to make money with your hand here? Pot-limit Omaha players know better than to keep calling with A-X-X-X to try to make a full house. You might get some action if your opponent is in there with K-K-X-X, but any reasonable player holding those kings will be deeply suspicious if there's a lot of action after he has bet, called, or raised with his kings, and certainly will not take his hand all the way to the river.
Early position: Of course, you are going to play this hand, but keep in mind that it's not as strong as it seems at first glance.
Late position: You've got a nice hand, and a pot-building raise is OK. (Note: This is not the same as a pot raise.) Just beware that even if you like the flop (top two pair with no made straight or flush possible), your hand has become very marginal if there's been a bet and a raise when the action comes to you.
Against a raise: Against one raise, this hand is usually playable; however, against two, it usually is not. A lot depends upon stack sizes and the psychology of the situation, but in most cases, a second raise before the flop means aces, or kings with high cards. Whenever that's the case, your hand is a big dog, and it should be mucked without a shred of doubt. There are other hands in Omaha that you might want to play when up against aces, but this one (big cards/no suits) is not one of them.
Hand No. 2: J 10 9 8
Analysis: Now, here's a real Omaha hand! Any good pot-limit player will know this is a premium hand, and in some cases it might be worth your entire stack, even before the flop. You will hit lots of excellent flops with this type of hand: straight plus redraws, a big wrap, a pair plus a wrap, or two pair plus an open-ender – each with a possible flush draw to go with it, creating the possibility of a huge draw. Still, it's important to emphasize that if you flop only a flush draw with no other outs, your hand should be mucked. It is only in combination with the big straight draw or the made straight that the flush cards become important. They may give you added redraw/freeroll possibilities, or they may give you such a powerful draw that you become a mathematical favorite over almost any made hand, and you might choose to play the draw aggressively rather than passively.
Early position: In pot-limit Omaha, I almost always come in for a baby raise whenever I'm the first one in; I hardly ever come in flat. You want to build a nice pot with this hand, which is very strong, even in early position. When you raise occasionally with this type of hand, your opponents might figure you for bigger cards than you have, and you might get a lot of action when you flop a monster like 7-6-5. Depending on stack size, the aggressiveness of your opponents, and the exact flop, you might make a lot of money by going for the check-raise when the flop is favorable (when medium cards flop).
Late position: You have a big hand, which is even stronger in late position. You want to create a big pot, and you don't mind having lots of opponents (in fact, the more, the merrier). Don't even think about just calling here. You have a raising hand – so treat it as such.
Against a raise: Against one raise, your hand is definitely playable. In fact, I would sometimes reraise rather than call, simply to disguise my hand. If my opponents are figuring me for aces when I hold this type of hand, I might make a lot of money if I hit the flop, and bluff them out when I miss – a pretty favorable situation, to say the least. Against two raises (indicating aces), this hand is still playable, especially when there's enough money left to bet after the flop (implied odds). You don't mind being up against aces here, because your cards are live, as opposed to the reraiser's hand. You do mind being up against someone holding the same type of hand that you do, but just a little bit bigger (Q J 10 9) – your premium hand is in very bad shape here.
Hand No. 3: J J 6 2
Analysis: Lots of hold'em players think this is a good hand, almost as good as a pair of jacks in hold'em. It is not. You've got no suits, no straight draws, nothing; the only thing you have is a pair of jacks. You have to flop a jack to continue playing, but that's not the main problem here. The problem is that even when a jack flops (with no overcards, you don't want to flop middle set in an unraised pot only to get excessive action), there will be many draws out against you: When you're up against a premium draw, you might not be as well off as you think you are. For example, take the flop J-10-2 rainbow – just about as good as it gets for your hand, right? Well, if your opponent is holding K-Q-9-8, he's got four aces, four sevens, and three kings, queens, nines, and eights – 20 outs twice! If the flop comes with two of a suit, it's even more power for the draw. Of course, you can still improve to a full house yourself, and sure, if you can get all of your money in on the flop with the temporary nuts (top set), by all means do so. The thing with this hand is: (a) you have only two cards; the best Omaha hands have four cards that coordinate with each other, and (b) you need to flop a jack, but this jack will almost certainly create serious straight opportunities, and you don't have any straight blockers in your hand (even the still weak J-J-8-7 holding would be a lot better from this perspective).
Early position: There's no way you are going to play this hand – ever!
Late position: On the button, you might want to call in an unraised pot, especially in a game with some relatively new and/or extremely loose players who might pay off generously in case you flop a jack. Against tougher opposition, there's nothing to think about – you have an easy fold.