Each player passes 1 card to the left. Players decide if they're in, and then holds their hands, face-down, over the middle of the table. If nobody stayed in, then everyone re-antes, and another hand is dealt. The highest hand wins the pot, and all of the losers match the pot for the next hand. Each player is dealt 1 card, then there's a drop.
High card wins, everyone else who stayed in matches the pot.
Note that this changes the maximum number of players to 52. Same as One Card Guts, but each player, starting with the player to the dealer's left, has the option of swapping his card with the player to his left and the dealer can swap with the top card on the deck. The deal rotates. Note that this changes the maximum number of players to 51. Each player is dealt 2 cards, then there's a drop.