Razz is a form of Seven Card Stud usually played as a limit poker game at an eight-handed table using a standard 52-card deck. The object of Razz is to make your best five card low hand from any combination of the seven cards you are dealt. In Razz, straights and flushes have no effect on the low value of a hand and aces are always low, therefore, the best possible hand is A2345 (also called “the wheel”, “the bicycle” or “5 high.”)
Each round there is a fixed amount that can be bet per player. Every player antes before the hand begins; the ante does not count towards any future bets. Then, the players are dealt two cards face down (also called hole cards) and one card face up (known as the door card). After this initial deal, the player with the highest card must “bring-in”, which means that he/she must place the mandatory low limit first bet in the pot. In a case where two or more players share the highest door card, the “bring-in” is determined by suit. Spades is the highest possible suit, followed by hearts, spades, and clubs. The K of spades would be the worst possible door card in Razz, guaranteeing a “bring-in.”
The “bring-in” counts as the first round bet, so as long as nobody raises, the player who placed it won’t have to put any more money in the pot to see the next card. Play proceeds clockwise from the “bring-in”, with each player choosing to fold, call or raise. After this first round of betting, the players still in the hand will receive another card face up, also called the 4th street. The player with the lowest hand showing has to fold, check or bet, and play proceeds as usual clockwise around the table.
The next betting round is the 5th street, where a fifth card is dealt face up to the players and the betting increments double. Play proceeds as in the 4th street, and then, in the 6th street, a sixth card is dealt face up to every player and the bets and raises are at the same level than at the 5th street. The seventh and final card is dealt face down to every player before the last round of betting or 7th street. Bets and raises at this final round are at the same level than at the 5th and 6th streets. Then, those players who have not folded after the 7th street can show their hand and try to take down the pot. The player who bet last is the first to show his/her hand; from there, the game proceeds clockwise. The winner is the player who makes the best low hand using five of his/her seven cards.
"Poker is a game of people... It's not the hand I hold, it's the people that I play with."
"Look around the table.  If you don't see a sucker, get up, because you're the sucker."
"Nobody is always a winner, and anybody who says he is, is either a liar or doesn't play poker."
"They anticipate losing when they sit down and I try my darndest not to disappoint one of them."