The usual practice for beginners playing any form of poker is to try and play tight before the flop. This entails only playing the premium hands which are listed on the main page for O8B.

Raising pre-flop

The main decision that needs to be made pre-flop is to whether you play the hand at all. After this, you then need to decide whether to limp into the betting or raise. These decisions will depend on the strength of your own hand plus the possible strength of your opponents play. If you decide to raise in early position, playing against experienced players, you will probably see fewer opponents remaining in the pot with you. If you just call, then you can expect more players to call one bet and take a flop with you.
Calling could be a good move at this point for two reasons: If you play the premium hands, you will allow your opponents to join in the pot with you with lesser hands while at the same time concealing the strength of your own hand. Also, by just calling and keeping the pots small, you are limiting your potential losses when you miss the board completely.
If you have a premium hand in the blinds or on the button, then you could possibly play things different. In these 'late' positions, you can go ahead and raise (making it two bets to go) as you won't be driving any players out of the pot (players calling one more bet won't usually fold). Keeping your opponents in plus building a big pot playing the top hands can work in your favour too once you hit your hand on the flop. This is a tough thing to accomplish, however.

Theory for strong and weak flops

When you have the luxury of a strong flop, the main decision you have to make is if you should 'ram and jam' the flop (put in maximum raises) or to slow-play (act weaker than what you really have). The arguement for raising is that you want to drive out as many drawing or high hands as possible to allow you, if you hit the flop perfect, to win both the high hand and low hand. Possibly there is a stronger arguement for just flat calling . After all, at this point you could already have the low hand 'locked up' with the other possibility of still winning the high side so your maximising the amount of money you can win by keeping players in the pot.
When you have hit a 'good flop' rather than the perfect one, more often than not you will want to ram and jam your hand, for both the reason that you want to build a big pot and also drive other marginal hands out of the pot, thus, protecting your hand in the meantime.
Then sometimes you may hit a 'marginal flop'. At this point you either have to decide to pump it or dump it, all depending on whether or not you think you have a chance to win or not. If you think you have the best hand you have to pump it. If you think its second best, you should dump it.

Playing hands on 4th street

Playing O8B hands on 4th street can be a wee bit tricky. If you have the best possible hand (low or high) then you would usually want to raise, on the chance that you can drive from the pot someone who has you beat for the other direction or is drawing to a hand that can beat you in either direction. Ram in jam is the best way if you have the best possible hand in one direction. If you are drawing low and have no high hand, depending on the action, you may have to fold. Similarly with a high hand too.

Playing on the river

When you get to the river, if you have the best possible hand in one direction then jam on the end. The reason for this is to try and eliminate players, to give you a better chance of winning the whole pot. If you are in the excellent position of having the best high and low hand, you have to use your own judgement as to whether calling an opponent will win you more money than raising would. However, if you have the second or third best hand in one direction, it is possible that you may have to muck your hand on the last round of betting. Keep in mind that you could consider calling two big bets in order to win half the pot. Folding isn't always necessary and calling isn't a bad idea at all for two bets.

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