Punch Cards: Official Site

Quick Play Rules:

From the card: "Each player needs one card. Secretly choose a corner of your card, then hold the cards back to back, with the chosen corners touching. Look at the numbers you can see. Together, players call either "High," Low," or "Both." If one player says "High" and the other player says "Low," play again. Otherwise, either the highest or the lowest number wins, depending on what was called. If you say "Both" the game is always on, but you must win both ways."

No matter how you hold these cards back-to-back, even if some parts of the cards don't overlap, each player should be able to see at least one number through the holes in his card. If you see a section of the rules text or nothing at all, that doesn't count as a number; however, the number zero certainly does count.

If both players have the same number, then compare the next highest (or lowest) numbers. If one player has no more numbers, the other player wins. If both players can see exactly the same numbers, the game is a tie.

When you call "Both" you must win outright for high and low. If you tie for either one, you lose the game. If both players call "Both" and neither wins, the game is a tie.

You'll notice that there are ten ways to put two cards back-to-back, but that two of the ways are four times more likely than the other eight. (Okay, you might not notice this, but we did.) This can make the game pretty monotonous if you play the same cards over and over. For a more complex, but just as luck-driven game, read the 5-play rules.