In my previous two columns, I discussed what to look for in starting hands when playing pot-limit Omaha, the big-money game in Europe. (It pleases me to see that in the United States, a very slow but steady growth in pot-limit Omaha live games can be seen. It is not just that more pot-limit Omaha live games are being offered on a regular basis, but that the stakes played seem to be a bit higher than before. That said, looking at it from a big-picture perspective, the game is still nothing compared to what it is in Europe, where almost all top professionals prefer it over any other game, even very high limit games.) In this column, we will take a look at some of the same Omaha starting hands we discussed in the previous two columns to see if there are differences between limit and pot-limit Omaha in regard to whether and how they should be played. Note that I am discussing limit Omaha, high only; for Omaha eight-or-better, totally different comments would apply.
Hand No. 1: A
K
Q
J
Analysis: Even though this is a good hand, it is not nearly as strong as A-K in hold'em, for example. (Note that lots of hold'em players might think this hand is even better than A-K in hold'em.) I wouldn't play it for all of my money in pot-limit Omaha, and I'm not really fond of this hand in limit Omaha, either. The problem here is that in limit Omaha, it is almost impossible to defend your hand, because of the very good odds your opponents get in trying to draw out on you. Because lots of callers can be expected in this game (in fact, it is common to have three, four, or even five players see the river card), you will almost always need a big hand to win. It's rare for two pair to win a big pot, for example, and with this hand, top two pair will be your most likely river hand. (Even though two pair is not often good enough to win the pot, with this hand, it is actually more likely than with any other. Let's say the flop comes A-Q-8 rainbow, giving you top two pair. If you get, say, three callers, you know that any 9, jack, or king will cripple your hand. However, there are quite a few "safe" cards that can come, and when two small cards come on the turn and river without creating a backdoor flush, your top two pair is quite likely to be good. The fact that you are playing the highest cards in the deck gives you more protection against drawouts than is usually the case in limit Omaha.) The problem is, your hand has no suits, and you have to be very lucky to get a rainbow flop like our example. Even then, if a backdoor flush (any flush) is possible at the river, it is quite likely to be out there; therefore, it is recommended that you play big suited cards yourself – so you can be the lucky one catching the runner-runner flush. Before the flop, I prefer a call over a raise with this A-K-Q-J, unless I can knock everybody out and play against the blinds only – which is highly unlikely. Because you hold a quality hand, you can, if the flop is favorable, make money from those holding second-best hands (weaker pairs, weaker draws) who might have folded to a raise. Also, because the pot is still relatively small (that is, no raises), you will be better positioned to defend your probably vulnerable hand on the flop.
Hand No. 2: J 10 9 8
Analysis: Even though this is a very strong hand, you have to be very careful. Higher flush draws cannot be bet off their hands, and even backdoor flushes may cause your straight (draw) some serious problems. In pot-limit Omaha, when you flop something like 8-7-X with two hearts or spades, you have a huge hand, with which you should be willing to back your entire stack. In limit Omaha, you are likely to get at least three callers who will stay with you until the river. In addition to someone with a set or two pair, there will probably be someone with a higher flush draw, and there will be a couple of straight draws out there, so that even if you make your hand, you might have to split.
Hand No. 3: J J 6 2
Analysis: I stated that this isn't a very good pot-limit Omaha hand, and it isn't a good limit Omaha hand, either. It can be played strictly from the button, in special cases, and for one bet only. However, if you flop a jack, you can almost always go to the river no matter how scary the board might look. That is, even if there's a possible straight or flush on the board, you will usually get the right odds to go all the way to the river, and you might even semibluff your opponents out of the pot by making them lay down a small straight or a weak flush.
Hand No. 4: 9 8 7 6
Analysis: In pot-limit Omaha, I am willing to invest a substantial portion of my stack with this hand if the conditions are right. In limit Omaha, I often don't even call the initial bet with it. The problem with this hand is that in limit Omaha, you are going to be up against higher straight and flush draws, and you cannot bet either of them out of the pot as you can in pot-limit Omaha. That said, from late position, I still play the hand and occasionally raise with it – and I suggest you do, too. Against a raise (indicating big cards/high pairs), this hand is not nearly as strong as it is in pot-limit Omaha, because you cannot put pressure on your opponent when he seems to have received no help from the flop. He will simply call you down all the way, and you will have to show your miserable holding, or if you make your baby two pair to beat his aces, you still might not win the pot if there's a third player in the hand who has both of you beat.
Some final words: In limit Omaha, it is important to keep in mind that hand values run close. What this means in practice is that you will need to hit the flop pretty well to continue playing. It is for this reason that good Omaha players prefer hands that may not hit the flop very often, but if they do, might make them a lot of money, over hands that look tempting, hit something on almost any flop, but are long-term losers (hands like K J 8 6 fit into this category).