The best high hand in Omaha Hi/Lo is similar to that of a regular Omaha game with no qualifications required to form a winning high hand so a winning high hand is always possible.

The winning low hand on the other hand has certain qualifications for it to win the pot. For your hand to qualify as an Omaha low hand, your card cannot have anything higher than an 8 and all must be unpaired cards. Aces is considered to be a high as well as low card and so the best winning low hand is A-2-3-4 and 5. Straights and flushes are not considered in low hand and you can just ignore them when forming a low hand but your low hand can also be the highest winning hand if its a straight or flush and this is the beauty of Omaha Hi/Lo, you can and may win both hands and take all the pot.

The rest of the game though is the same with regular Omaha with each player dealt with four hole cards and five community cards with the winning hands having two hole cards and three from that of the community cards.