Seven Card Stud Hi/Lo
7 card hi/lo is played as two games rolled into one. Each player battles for both high and low hands. High hands follow the standard hand rankings used in texas holdem, 7 stud high, and most others.
Unless indicated, all qualifying low hands consist of cards from eight or less. Again, like other Horse variations, seven card stud hi/lo is played using a limit blind structure.
The person dealt the lowest showing card starts off the betting. Ace is counted as a high card for this purpose. The low card - designated by suit, alphabetically , clubs, diamonds, hearts, and spades.
The high card leads off the betting on subsequent rounds. If there's a high card tie, the player nearest to the dealer in a clockwise direction, will commence betting.
At Horse Poker, a lower limit is used for the third and fourth street, and switches to higher limit for the following rounds. An open pair doesn't have any effect on the betting structure. 
Aces can be used, both as high and low cards. Flushes and straight do not effect the outcome of the low hands, and have no value other than as a possible addition to a low hand.
Each player can use any combination of their five cards to make their best high hand. They can also use any combination of the seven cards to make their best five card low hand.
7 CARD STUD HIGH-LOW Rules
7 Card stud rules and betting format also apply to hi/lo. Players must have five cards, "8 or better" to stake a claim on the low hand. Pairs don't count towards the low hand. If there is no qualifying low hand, the high hand scoops the pot.
A player can use any of their seven cards for both hands. Split pots are determined by the run of the cards, not by any player agreements.
7 Card Stud Hi/Lo is ideal for the internet environment. Online poker software eliminate time consuming calculations, accidents, and disagreements which occur during live play. A common online Horse poker error is a failure to notice game switch. This can be crushing at the later stages of a game so don't let it happen to you!
