Seven Card Stud is a popular, well-known form of poker. It is played with up to eight players at the table. The First round of Seven Card Stud:

A fresh table starts off with all the players posting the “ante” (putting a predetermined amount in the pot before the cards are dealt). This amount is based on the size of the game. While the ante amount is not based on a set rule, the same is decided upon by the prevailing game trends. For e.g. the ante amount for a 1/2 table is 25 cents while for a 3/6 table, it is 50 cents. A new game on an active table starts with all the players at the table posting antes.

In Seven-card stud poker, players receive seven cards, three "down" cards and four "up" cards.

After the antes have been placed each player is dealt three cards (two "down" cards and one "up" card). The "up" card is also known as the "door card" or "Third Street". The lowest "up" card must initiate the action with a "Bring-In" bet. (If two or more players have the same lowest card, the person who brings it in is determined by suit order progressing from clubs, diamonds, hearts, and spades.)

Each player is allowed one bet and three raises in each betting round. To continue to play, players must take an action from what is displayed to them on each "street" or betting round (unless they are all-in).

The Second Round of Seven Card Stud:

After the first round of betting another card is dealt face-up to each player that still remains in the pot (those who didn't fold on "third street"). This is "Fourth Street" (the second round of betting). From "Fourth Street" on, the highest hand showing begins the action by checking or betting. If a pair is showing on "Fourth Street", players have the option to make a single or double bet. If a player makes a single/double bet, the other players may call, raise the single bet, raise the double bet or fold. In case of a double bet, only an equal amount can be raised (to the extent of the double bet).

The Third Round of Seven Card Stud:

Upon completion of the betting on "fourth street", another card is dealt face-up to those who remain in the pot. This is called "Fifth Street" (the third round of betting - which doubles (the value of each bet is double of what was available in the first two rounds) - and continues at this amount for the remaining betting rounds). The highest hand showing again starts the action by checking or betting.

The Fourth Round of Seven Card Stud:

Upon the completion of betting on "fifth street", another card is dealt face-up. This is "Sixth Street" (fourth betting round).

The Fifth Round of Seven Card Stud:

The final card is dealt down. The last card is also known as the "River Card" or "Seventh Street" (final round of betting).

Some standard rules

A maximum of four bets, which includes one bet, and three raises are allowed for each betting round per player. To continue to play, players must take an action from what is displayed to them on each "street" or betting round (unless they are all-in). The term cap is used to describe the final raise in a round since betting is then capped and no one can make another raise. Once capped, players will have the option of calling or folding only. Folding can be done at any stage of the game. The action of folding basically shows the player cards being moved to the dealer. The player from then on would not be considered as part of the game. He/she would not have any rights over any pots created on the table.

Poker is typically played "table stakes", meaning only the chips in play at the beginning of each hand may be used throughout the hand. This means that the player cannot get additional funds from the cashier while he is in the midst of a game. The table stakes rule has an application called the "All-In" rule, which states that a player cannot be forced to forfeit a hand because the player does not have enough chips to call a bet.

Exceptions to the value of betting in each round:

A player who does not have enough chips to call a bet is declared All-In. The player is eligible for the portion of the pot to the point of his final wager. All further action involving other players takes place in a "side pot", which is unavailable to the player who has already gone All-In. When a player goes All-in, the pot currently at the center of the table, which has contributions from him/her as well, is treated as the main pot, over which the All-in player has rights. After the player goes all-in, all the new bets are placed in a side pot, over which only the contributing players have rights. The All-in player does not have any rights over the side pot. The side pot is then given to the next winning combination.
As this is a multi player game, the players are expected to play within a set time frame, the actions during their turn. On PartyPoker.com we provide players with approximately 30 seconds to play with. Initially the player is given 10 seconds, after which there is a timer countdown, which is displayed on the table for 20 seconds. The user goes all-in if he has contributed some money to the pot; otherwise his hand is folded in case he/she does not respond in time. The system is intelligent in detecting if the player has got disconnected or not. This means if a players gets disconnected and reconnects back and he has some seconds left for his turn, then he is given an additional 20 seconds to play his turn. But if the player is not able to connect back to the table before the time elapses, then the player goes All-in. All-in basically means that the player is in the game, but would not be an active player (placing any bets). Whatever pot is collected till this time is referred as the main pot, and the all-in player has rights (if he wins) to this pot only. After this the money that is bet on the table is added to a side pot, over which the all-in player does not have any rights (if he wins).

Upon completion of the final round of betting, the best hand wins the pot. (The pot may also be won by someone who bets without being called at any time during the hand.). Your "hand" is determined by using the best five of seven cards. A combination of the following may be used -
On the final round of betting, the player who bets first (or checks first if no one else bets) is required to show their cards first at the showdown. If they have the best hand, the remaining players may/may not show their cards as they wish. The aggressors’ hand is only turned over first if he was the last to initiate action on the river.
If two or more hands are the same ranking, the winner is the one having the higher cards. For example, a Flush with an Ace high beats a Flush with a King high. If the poker hands remain tied, then the highest card not being held in common (the kicker) determines the winner.

The suit order of the cards is not taken into account while deciding on the winning cards. PartyPoker.com follow standard rules of poker. Should poker hands be absolutely identical in ranking, the rule of poker pot distribution will be split evenly between the two or more winning players. If there is an odd chip, the winning player to the left of the button/dealer will receive it. This applies to both play money and poker for real money.

For all the five rounds of betting, the house based on set rules collects a commission, which is known as the rake in poker terminology.