If you’ve been to a casino anywhere in the world, from sticky-floor California card rooms to the tuxedo-laden casinos of Monaco, you have probably seen baccarat played. And you’ve certainly heard about the game from James Bond movies.
The game has a long history, dating back to the gambling salons of Italy and France, but its rise in popularity, driven by Asian high rollers, has transformed it into one of the top games on the casino floor. It has even spawned variations and additional ways to bet.
Unlike the other major table games like blackjack, roulette, craps and poker, where players make their own decisions at the table, baccarat is more of a group effort. Each player sits at a table and watches the dealer deal two hands, a Player hand and a Banker’s hand. The player and banker each get three cards each, and whoever has the hand with a total closest to 9 wins. If the hand is a tie, no winner is declared and all bets are lost. The dealer collects the losing bets, pays the winning bets, and takes a 5% commission on winning Banker’s bets.
Baccarat’s house edge is relatively low, making it an attractive option for gamblers. The game has a low volatility and is often played in small groups at tables that can accommodate up to 14 players. In addition, the betting system is simple and easy to understand, allowing newcomers to the game to participate. While it is a game of chance, there are strategies that can be employed to manage bankrolls and reduce risk.
Bill Zender, a former Nevada Gaming Control Agent and casino executive who literally wrote the book on managing a casino, has watched baccarat’s growth over his 40-year career. He explains that Asian high rollers are attracted to the game because it fits their culture. Moreover, it has one of the lowest hold percentages in the casino, with a house edge of about 1.2% on banker and player bets.
In the past, baccarat was limited to the high-end gaming rooms and casinos with pricey minimums. But with the game’s growing popularity, it has moved to the regular casino floor and is now available in single-table setups that resemble blackjack tables. Many also offer a shorter and faster version of the game called mini-baccarat, which is less intimidating for novices.