Seven Card Stud

The classic poker game is Seven Card Stud. In this variation of poker, players are dealt a total of seven cards, three of them face down and four face up. In Seven Card Stud Hi-Lo the pot is split between the best High and the best Low hand.

In stud games, players must post a small amount prior to each new hand dealt; which is called the ante.

After the ante has been placed in the pot by all participants, each player is dealt two cards face down, the "hole" cards, and one card face up, the "door" card. The first round of betting begins. All remaining players are dealt one card face up, known as "4th street."
The second round of betting now takes place; followed by one new card face up, known as "5th street," to all remaining players.
The third round of betting follows. Each player is now dealt another card face up, or"6th street," which is followed by the fourth round of betting. Each remaining player is now dealt the last card face down, the "river" card. The final bets are made and the players reveal their hands to determine the winner.

In a full round of 7 card stud there are five betting rounds not including the ante.
On the first round of betting, the low card by suit is required to initiate action with a bet equal to half the lower limit. Suits are ranked: spades (highest), hearts, diamonds and clubs (lowest). On subsequent rounds, the high hand on board initiates betting action. If hands are tied, the player to the left of the dealer acts first. In all cases, the dealer will inform the players as to who acts first.
Each bet and raise during the first two rounds of betting is set at the lower limit of the stakes structure. For example, in a €5/€10 game all bets and raises are €5 for the first two rounds. This rule does not apply if any player displays a pair with their two face-up cards on 4th Street. In this circumstance, all players have the option to bet either the lower limit or the higher limit. If a player bets the higher limit, then all subsequent raises must be made at the higher limit.
Each bet and raise during the last three rounds of betting is set at the higher limit of the stakes structure. For example in a €5/€10 game, all bets and raises are €10 for the last three rounds
The maximum allowable number of bets per player during any particular betting round is four. This would consist of (1) a bet, (2) a raise, (3) a re-raise, and (4) a cap. Once the pot is capped, players will have only the option of calling or folding. There is no limit on the amount of raises once the hand becomes heads-up.

The only difference between the two games is that in Seven Card Stud Hi-Lo the pot is split between the best high hand and - if there is one – the best low hand. To qualify for a low hand, a player needs five cards of different ranks not higher than 8 (A counts for 1). Different low hands are compared starting with the highest card.
As an example, 8642A wins over 8732A, but loses to 85432. Players can tie for a low hand; in this case, the low half of the pot is divided equally between the two low hand winners.