Baccarat, a game played in everything from sticky-floor California card rooms to the tuxedo-laden casinos of Monaco, is one of the world’s most popular casino games. It is the main source of income for Macau’s casinos, which now make more money than Las Vegas Strip properties do, and it’s a favorite among high rollers in Asia. But it’s still a mystery to many American gamblers. In this Forbes Passport article, we’ll take a look at the history and rules of this iconic casino game.
In baccarat, players bet on either the player’s hand or the banker’s, hoping to predict which will come closest to nine when all the cards are dealt. Unlike blackjack, the final digit is determined by adding up the value of each card. Face cards have zero value and aces count as one. If the player or banker’s hand has a total of 8 or 9 on its first two cards, that is called a natural and all placed bets are paid out. If the first two hands have different totals, then a third card is drawn.
Depending on the country, there are a number of different versions of the game. In the United States, punto banco is the most commonly played version. A similar, faster game called chemin de fer is widely played in France. The most complex variation is baccarat banque, which was invented in the 19th century and is a favorite of high rollers.
To play baccarat, the dealer deals two cards for each of the player and banker’s hands. The players then bet on which hand will have a higher total, or if a tie will occur. Bets on the player’s hand pay out 1:1, while bets on the banker’s hand pay out based on the percentage of the win that the casino takes. This includes a commission, which varies by casino but is typically around 5-10 percent of the winnings.
A third bet, on a tie, pays out eight to one but has a much higher house edge of over 14 percent. That’s why most serious players stick to the player or banker bets.
Baccarat’s roots go back 500 years to medieval Italy, when it was a game for the upper classes and aristocrats. The game eventually made its way to Europe and, by the end of the 19th century, was popular in casinos. In the US, however, baccarat never took off as quickly as roulette or slot machines. The game was marketed as an exclusive casino game for the wealthy, and casinos kept its tables in special rooms and appointed them with posh leather chairs. The game’s popularity grew among Asian high rollers, though, and over the past twenty years, it has become the top game in casino casinos worldwide.