The fact of the matter is that most of the time when you are playing Omaha, you are going to be playing a drawing hand. It is a rare occasion that you can flop the nuts and have it hold up through the river. That being the case, you just need to make sure that you are drawing to the nuts and not setting yourself up for a monster hit to your stack.
As you probably already know, when you are playing Omaha Poker, just about all the cards are going to be dealt out on a full table. This makes it very dangerous to draw to anything but the nut flush and the high end of the straight. Doing anything else is a foolish play and will land you in the poor house.
This all goes back to starting hands to make sure that you do not get trapped in a hand that you have no shot of winning. If a flush hits the board and you are sitting on a J high draw, forget about going after the flush. With the amount of cards out, it is unlikely that your suited Jack is the best flush draw at the table.
While flushed are generally pretty easy to get out of the way of, straights are an entirely different matter. This is where people make the biggest mistakes in reading the board and making sure that they have the best hand. It is also where hold’em players go to die.
A bottom end straight that you can play strong in hold’em is of little use in Omaha. If you have problems letting it go, get over it quickly. The only straights that you can play are the high end and a 2 gapper that you have plugged. If you are sitting on two cards that make the straight and one of them is also on the board, let it go unless it is an A high straight.
The reason this hand is so tricky is strictly a mental block. After years of playing hold’em, players are convinced that their straight has to be good with no boat or flush on board. It will only take you a few pots to realize how wrong this mindset is. Remember, if you are not drawing to the nuts, the hand is not worth being in, period. The amount of money that you will lose chasing down these hands will far outweigh the small percentage of times that it actually holds up. Let it go and wait for the next deal.