Once the first round of betting has been completed, an additional card is dealt face up to each player remaining in the hand. This fourth card is usually known as fourth street. There is then another round of betting.
Each player now receives a further card, also dealt face up. This card is known as fifth street. More betting then takes place.
We now come to the sixth card, wait for it… sixth street! This card is also dealt face up to each player, and there is more betting.
The final card (seventh street) is dealt face down. At this point, every player remaining in the hand has seven individual cards in front of them. The first two are face down, the next four face up, and the final card face down. Once everyone has looked at their last card, a final round of betting now takes place, followed by a showdown. The best hand wins.
You will have noticed that whereas Hold'em has four rounds of betting, Seven-Card Stud has five: one after the players receive their initial three cards, and one after each subsequent card is dealt.