Omaha Hi-Lo
Omaha Hi-Lo is a community card game. Every player is dealt four cards face down, followed by five community cards dealt face up in the middle of the table. The five community cards are used by every player. Each player must use 3 and exactly 3 community cards along with 2 and exactly 2 of their down cards to make the best possible high and qualifying low hand. A low hand is one in which the 5 cards being used are all below 8 and none of them make a pair together. This is called an 8 or better qualifier.

Omaha Hi-Lo is played with a dealer button to mark who the dealer would be, if the casino weren't providing one for the table. This lets the Casino provided dealer know where to begin dealing each round. They will begin each time with the person to the left of the button. The button rotates clockwise around the table between every hand. This is important as the "dealer" is the last to act (bet, call, raise, fold), and thus has the greatest advantage for that hand having had the opportunity to see how everyone else acted already.
 
Omaha Hi-Lo Rules – Objective
To make both your best five card high and low hand using exactly two hole cards, and three board cards. If there is no qualifying low hand the entire pot goes to the player with the best high hand. If there is a low possible and someone has it, the pot is split between the best high hand and the best low hand.

Blinds
Omaha Hi-Lo rules dictate that there be a forced bet every hand, called the blind  In most games there are two blinds positioned two spots to the left of the Dealer Button called the “Small Blind” and the “Big Blind”. These forced bets are set depending on the game structure. In spread limit games they are either $1 and $2 or $2 and $5. In structure games the small blind is ½ the size of the small bet and the big blind is equal to the size of the small bet. This bet counts towards that player’s first round bet, and is considered live; meaning the player may chose to raise even if nobody else has.

Omaha Hi-Low Rules – Betting Rounds
There are four rounds of betting. In spread limit games the betting is spread from the low bet to the high bet on all rounds. For example in $1/2-100 the betting is from $2 to $100 all rounds.  In structure games the betting increments are the low bet pre flop and on the flop, and then the big bet on the turn and the river. For example in $3/6 the bet pre flop and on the flop is $3 with the bets on the turn and river being in increments of $6.