The game of razz is almost identical to seven-card stud besides these exceptions.

First off the low hand wins.  This isn’t the same low as when you play hi/lo.  In razz there is no rule of 8 or lower to qualify a hand, and all straights and flushes are ignored, meaning that the lowest hand is the one that wins at showdown.  Now if we ignore straights and flushes then the best possible hand in razz would be a ‘wheel’ A-5.  Ace is considered low in razz.

Here are some example hands for razz in descending order from worst to best (A-5 being the best).

5, 5, 5, 3, 2  
K, K, 4, 3, 2
2, 2, 7, 6, 5
A, A, T, 9, 8
K, Q, J, T, 9
K, Q, J, T, 7
9, 8, 7, 6, 5
9, 7, 6, 5, 3
9, 7, 6, 5, A
6, 5, 4, 3, 2
6, 4, 3, 2, A
5, 4, 3, 2, A

Another difference in razz is that in the first round of betting the highest hand showing for that round makes the ‘bring-in’.  Not like in stud where it would be the low hand that is the ‘bring-in’.  Every other round the action is on the low card and in the last round the action is on the player showing the lowest four cards.