7 Card Stud Hi/Lo Poker is very similar to 7 Card Stud Poker, except the pot is split between a high hand (the same as in 7 Card Stud) and a low.
Before a game starts, each player must post an 'ante', a mandatory amount that ensures there is some money in the pot. In stud poker games, there are no community cards. Instead, the dealer begins by dealing clockwise until each player has three cards. The first two cards are dealt face down ('hole' cards), the third face up (the 'door' card).
7 Card Stud is divided into five rounds of betting, and the betting moves clockwise around the table.
If two or more players tie by holding equally-strong winning five-card hands, the pot will be split between the tying players. If there is an odd chip, it will be given to the winner of the high hand.
The player with the lowest-ranking up card starts the game with a token bet called the 'bring-in'. (If two or more players have the same lowest card, the bring-in is determined by suit in alphabetical order: clubs, diamonds, hearts, and spades.)
Once the bring-in bet has been made, each player (starting with the player to the left of the bring-in) can fold, call, or raise to the betting limit.
Everyone is dealt another up card. At this point, the player with the highest two up cards starts the betting. On this round of betting only, if a player gets an open pair, he or she can make a double bet.
Everyone is dealt another up card. At this point, the player with the highest two up cards starts the betting. If no player shows a pair amongst his or her exposed cards, the bet will be a small bet ($2 in a $2/$4 game). If any player shows a pair, the betting can be opened for a big bet ($4 in a $2/$4 game)..
Everyone is dealt another up card. Again, the player with the highest combination of up cards starts the betting.
If there is more than one player left in the game, there is a showdown. During the showdown, the players reveal their cards and the highest hand wins half the pot, and the lowest low hand wins the other half. The same player can have both the best high and low hands, or, if none of the players has a low hand, then the highest hand wins the entire pot.
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