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Five Card stud is played in the same way as seven card poker. The difference being that in five card stud the players receive five cards, the first one hidden followed by four open cards. So you don’t use any community cards as in Texas Hold´em and Omaha.
Begin to play
Five Card Stud is played with Antes unlike Texas Holdem and Omaha Blinds. The Ante is a pre decided sum which every player who wants to be part of the hand has to contribute to the pot.
The first round of betting
When all the antes have been contributed into the pot, one card face down and another card face up is dealt to each of the participating players. These are the players private cards and should not be shown to anyone just yet.
Because Five Card Poker is not played with a dealer button the first round of betting starts with the player who has the highest exposed card bets a bring in bet. This is a forced bet which consists of half of the minimum bet.
If more than one player has the same value on their cards you have to go according to the suit of the card. The suits are ranked Spade-Heart-Diamond-Clubs in strength.
The round of betting continues with the player to the left of the bring-in, calling, folding, or raising. The first round of betting is completed when every player has made their move either, calling, raising or folding.
The second round of betting
When the first round of betting is completed another card is dealt to each player.
The player with the highest face up card, or a pair in the cards currently shown to everyone begins the next round of betting by either, checking or betting. If any of the other players have a pair in their open card you can (in 5 Card Stud Limit Poker) make the maximum bet. The second round of betting is completed when every players has taken part same as written earlier.
The third round of betting
When the second round of betting is completed another open card is dealt all the players currently still in the game. The same rules apply for who gets to start betting as in the previous round. The third round of betting is done when all the players have contributed to the pot.
The fourth round of betting
As soon as the third round of betting is completed the fifth and last card gets handed out to each player currently still in the game. This card is also dealt face up to each player and the same rules apply as before as to who begins the round of betting. The fourth round of betting is completed as soon as each player bet the same amount into the pot, or everyone has checked or folded (to a players bet).
After the fourth and last round of betting is done it is time for the Showdown where the players who are still in the game show their hands. The players show up their hidden cards and the best five card hand wins the pot.
See the poker hand strength definitions for more info.