Rules
1.The game is played with a single deck of cards. The deck consists of the standard 52 cards plus one joker.

2. All cards are valued as in baccarat: aces are 1 point, 2 through 9 have face value, and tens and face cards are worth 10. The joker is also 1 point. For purposes of the bonus bet, which is explained later, different rules apply.

3. Play begins with the players making an ante wager subject to table limits.

4. The dealer shall deal each player and himself five cards. All cards should be dealt face down. Players may examine their own cards but sharing information should be discouraged.

5. After examining his cards the player has the option to either raise or fold. If the player decides to raise then he must place an additional wager equal to his original wager in a designated area of the table. If the player decides to fold he must forfeit both his cards and his original wager.

6. Each remaining player should then separate his five cards into a three-card hand and a two-card hand.

7. To have a qualifying hand the player must have a total of 10, 20, or 30 points in the 3-card hand. If the player can not form a qualifying 3-card hand then his 2-card hand shall not matter and his only chance to win is if the dealer does not qualify.

8. If the 3-card hand qualifies then the value of the 2-card hand shall be based on the total points of the two cards. The highest possible 2-card hand is a point total of 10 or 20, and shall have a value of 10. Otherwise the value of the 2-card hand is the terminal digit in the total number of points (as in baccarat). For example a 6 and 9 would have total point of 15, and a value of 5.

9. After the players have set their hands the dealer shall arrange his cards into a 3-card hand and 2-card hand in the same manner as the players. The dealer must try to qualify with a 10, 20, or 30 point total in the 3-card hand. If the dealer does qualify his 2-card hand shall be valued in the same manner as the player's 2-card hand.

10. If the dealer's 3-card hand does not qualify then all players who did not fold shall win even money on the ante, less a possible 5% commission, and the raise shall push.

11. If the player's 3-card hand does not qualify and the dealer's does then the player shall lose both ante and raise.

12. If both the player's and dealer's 3-card hands qualify then the value of the two-card hands shall determine the winner. If the dealer's two-card hand outscores the player's then the player shall lose both ante and raise. In the event of a tie both ante and raise shall push. If the player's two-card hand outscores the dealer's then the player shall win even money on the ante and the raise shall pay according to the difference in the point values as follows:

1 - 3 points: 1 to 1
4 - 6 points: 2 to 1
7 - 9 points: 3 to 1

Winnings are also subject to a possible 5% commission, depending on the specific house rules. For example if the player's two-card hand has 7 points and the dealer's has 2 points then the player outscores the dealer by 5 points and the raise shall pay 2 to 1, less the 5% commission.

13. A side wager is also available based on the poker value of the combined five-card hand. For purposes of the side wager all cards are valued as in poker. The joker is partially wild and may be used to complete a straight, flush, or straight flush, and is otherwise counted as an ace. Note that this is the same usage as in pai gow poker. The player does not have to pay the 5% commission on side wager winnings. Casino management may choose from among various pay tables for the side wager.

Strategy
Regardless of the whether the ante, raise, or both are subject to the 5% commission the correct strategy in Asian Stud is to always raise. Even with a non-qualifying hand the expected loss by raising is about 0.99 units, which is less than the one unit loss by folding.

House Edge
The following table shows the house edge according to the house rule on the commission.