Razz is simply the lowball version of seven card stud. It uses ace to 5 low hand values.
Pairs are not a benefit in Razz. As an example, any hand with no pair defeats any hand with a pair; one pair hands will defeat two pair or a straight, etc. When no-pair hands go against each other, the person with the highest rankings card loses. In ace-to-5 low, flushes and straights are ignored, and aces are the lowest card.
Players are dealt seven cards in five rounds, just as in 7 card stud, and must make their best possible 5 card poker hand from the cards they are dealt.
The game starts with a small ante put in from all players at the table. After that, each player is dealt two cards face down, and one card face up.
Play begins with a forced bet (the bring in) by whichever player has the highest face up card. Play then moves in a clockwise direction with players either calling the bring, betting or folding. Like in other stud games, all betting rounds will have a limit of three re-raises.
After the first betting round, a second card is dealt face up, following by another round of betting. A third card is then dealt face up followed by another round of betting. Betting will again start with whichever player has the best up cards.
A fourth card is then dealt face up, followed by another round of betting. Another down card is then dealt. The final betting round then takes place, followed by a showdown.
At the showdown players, must then make their best low 5-card poker hand out of the seven cards they were dealt.
Razz thus follows the 2 down, 4 up, 1 down similar to that of seven card stud.