There are a total of five betting rounds in Seven Card Stud. Remember, depending on the predetermined wager stakes of the table, all bets and raises are limited in size. The first two betting rounds fix the low limit of the games wager amounts, or stake structure. The other three betting rounds fix the high limit of wagers. For instance, if a particular game’s stake structure is determined to be $4/$8 prior to the beginning of the game, then all bets and raises for the first and second betting rounds would be $4, while all bets and raises for the third, fourth and fifth betting rounds would be $8. The only time player’s are exempt from this rule in Seven Card Stud is when one of the player’s has a Pair showing after the “Fourth Street” card is turned (second betting round). If this is the case, then all players have the option of betting the maximum high bet for that round.
In each betting round, a player is limited to placing four bets. That means no more than one bet and three raises per player, per round. After the third raise, a player is ‘Capped’ and only has the choice of folding or calling. (Calling is when a player matches a previous players bet)
The first betting round takes place after each player is dealt their two face-down “Hole” cards, and one face-up card. The player with the lowest suit on their exposed card is required to initiate the first betting round in the amount of half the lower limit. (Suit order from highest to lowest is Spades, Hearts, Diamonds and Clubs) The second round takes place after a fourth card, called “Fourth Street”, is dealt face-up to each player. The third round of betting takes place after a fifth card, called “Fifth Street” is dealt face-up to each player. The fourth round of betting takes place after a sixth card, called “Sixth Street” is dealt face-up to each player. The fifth and final betting round takes place after a seventh card, called the “River” is dealt face-up to each player. After the fifth betting round, the “SHOWDOWN” is enacted, in which a winner is determined. The player who showed the most strength on a raise in the final betting round is obligated to reveal their final hand first. During ties, the pot is split down the middle. Any odd chips go to the player who is closer to the left of the dealer button.
NOTE: If it happens there are eight players in a game, and all eight players are going into the final betting round, there will not be enough cards in a 52-card deck for each player to receive their “River” card. To solve this dilemma, the dealer will turn over a single community card to serve as each player’s “River” card.