[Jeffage]

The reason there is more "variance" in stud doesn't have to do with the extra round of betting really. It's more because A) the river card is dealt down (thus forcing you to pay off bets you wouldn't have to in hold em and causing you to miss some thin bets you'd make in hold em) and B) the fact that it's not a shared board game so suckouts are more frequent. For example, if you have AA in a hold em game and someone else has pocket sixes, it is hard for them to end up beating you. Also, say you have AK and the board is A 7 2 and you're against someone with A9 in hold em. It's tough for them to suck out. In stud, pair verse pair scenarios allow for more suckouts.

That said, I find there to be less variance in stud due to several other factors: generally less aggressive play and fewer opponents with any real skill even at high levels (I refer only to Atlantic City for this); many opponents who like to let free cards slide off; many opponents who will only raise later streets with a total boardlock, allowing you to always know where you're at; many opponents who won't bet the river without a monster; the fact that while there is more info to process than hold em and you have to pay much more attention, once you process the data, the decision is usually easy. This contrasts hold em where there are many more strategic gray areas.

I can go on and on, but I won't. I love both games for different reasons, but in my experience something like 75-150 stud is FAR less swingy and "easier" to beat than a typical 80-160 hold em game.

Jeff