One player is a spanker, the other a spankee. The spankee is loosly tied down so that they can't escape the spanking, but are able to spin around to expose all parts of the body at different times.
Six dice are rolled at the start of each spank round and these dictate the nature of the punishment and teasing. You can use a website to simulate the dice rolls. eg: http://www.random.org/dice/?num=6
The spankee earns points by completing each round of spanking. The number of points to get to is up to you - but 10 points is a good target.
The spankee wins half a point for each completed round. It is possible to get bonus points as part of the rewards.
The spankee can be optionally blindfolded and gagged. Also you deserve a bonus point if the sum of all the dices is over 31. The spankee's edge's must be indicated to the spanker to avoid going over to orgasm. Accidental orgasms should be ruined. They also mean that you lose one point and get double the number of spanks in the next round.