A method of playing a five card high-low wagering game comprises distributing one first pair of playing cards and a single playing card of at least one three playing card hand of at least one deck of playing cards to an evens portion having a first bet and an odds portion having a second bet of the game. A fourth playing card distributed from the deck provides a second pair of playing cards pairing with the single playing card. The first bet and the second bet are separately settled depending upon the face value of a fifth playing card of the deck when compared to the face value of each playing card of both of the first and second pair of playing cards. Both a gaming table layout and gaming machine of the five card high-low wagering game is disclosed.