What are the Omaha poker rules for Hi-Lo and how do they differ from traditional poker rules?

In Omaha Hi-Lo, players aim to make the best high hand and the best low hand using two of their hole cards and three community cards. The pot is split between the best high hand and the best low hand, with the low hand needing to have five cards 8 or lower. This differs from traditional Poker where the entire pot goes to the best hand.