Seven Card Stud

In Most games an ante is posted.  The starting hands are dealt, 2 cards down and 1 card up.  This is referred to as third street.  The action is started with a forced bet by the lowest up-card, and the first round of betting occurs. After the betting round a fourth card, fourth street is dealt.  For the second betting round the high hand has the first option to begin the action.  After the betting is complete, the fifth card, fifth street, is dealt.  For this round of betting the limits are usually doubled.  The high hand starts the action.  After the betting is complete, the sixth card is dealt, and the fourth betting round occurs with action started by the high hand.  Finally the seventh card, the river, is dealt down, The players now have 3 cards down and 4 cards up. The final betting round occurs. The players then use their 7 cards to make the best possible poker hand. The best hand wins the pot.

Here is a sample hand:

It should be noted that there are many variations of Seven Card Stud.  The most common are Stud Hi/lo, (Low hand gets half the pot.),  and RAZZ which is for the best low hand.

Long explanation

Posting the antes and Dealing the cards:   In the most common variation played on the Internet, there will be a small ante, usually 10% or 20% of the small bet.  These small bets are start the pot much as the blinds do in Hold'em.  After all players have anted two cards are dealt down to each player and the a third card is dealt up to each player.  This often referred to as third street.

The first betting round:  Usually, but not always (check the house rules,) the low card starts the action with a forced bet of half the limit.    Betting then continues around to the left.  Again it varies from room to room, but usually the first raise can only complete the bet.  Some rooms do allow a full  raise so don't be surprised. The betting round is complete when everyone still in has called all bets and raises.

Fourth Street:  The fourth card is dealt up.  Each player now has two cards up and two cards down.

The second betting round:  Now the action switches from the lowest hand to the highest hand.  Again this is a place were many variations occur.  If a player has a pair up, some rooms allow the option of increasing the limit immediately, either by the player with the pair or sometimes by any player.  Other rooms do not allow the increased limit.  Check the house rules.  The round ends when all players have called all bets and raises.

Fifth Street:   The fifth card is dealt up to each player.

The third betting round:   The betting limit doubles at this time.  Action starts with the high hand.  Betting continues till all bets and raises are called.

Sixth Street:   The sixth card is dealt up to each player. Players now have two cards down and four cards up.

The fourth betting round:   The remains doubled for the rest of the hand.  Action starts with the high hand.  Betting continues till all bets and raises are called.

Seventh Street or the River:   The seventh  and last card is dealt down to each player.

The last betting round:  Action starts with the high hand.  Betting continues till all bets and raises are called.

The showdown:  Each player uses their seven cards to make the best five card poker hand.

Here is a sample hand:

NOTE:  There are probably more variations of seven card stud than any other game.  Make sure you check the house rules