James Bond made baccarat famous in the 1962 film Dr. No. He was playing the French version of baccarat, Chemin de Fer, during that lucky streak. The common version in North America is Punto Banco, which rarely offers players the chance to act as banker. It’s simpler, requiring only one dealer, and offers players three bets.
Baccarat History
Baccarat made its way to the USA in the 1950s as Chemin de Fer. But the game required four dealers, making it too expensive to be offered to the masses. It was offered in VIP sections where the betting minimums were very high. The exclusive nature of baccarat made it hard to compete with other table games like blackjack. Baccarat was simplified to Mini Baccarat, also known as Punto Banco, which became popular quite quickly.
Baccarat Rules
To play Punto Banco, you simply decide what to bet on: the Banker, the Player, and the Tie. The Banker and Player are going to get two-card hands, and potentially draw a third card in an attempt to get the higher hand, with the highest hand possible being a Nine. Baccarat card values are different from other table games.
Ace-Nine are worth face value (Ace equals one)
Ten, Jack, Queen, King are worth zero
After adding up the values in each hand, if one hand has a score of 10 or above, the first digit is removed. For example, if the Player has a Nine and Six in his hand (which adds up to 15), the first digit is removed, making the score 5 – not 15.
Baccarat Payouts
• The Player bet pays even-money, so if you bet $10, you win $10.
• The Banker bet pays even-money minus a 5% commission, so if you bet $10, you win $9.50.
• The Tie bet pays 8:1 at most land-based casinos and 9:1 at most online casinos, so if you bet $10, you win $80 or $90.
Baccarat Strategy
Since you’re not choosing actions, such as hit and stand, baccarat strategy lies in knowing the probabilities and house edge for each bet. We’ll look at the house edge first.
Banker: 1.06%
Player: 1.24%
Tie: 14.44% or 4.84%
As you can see, there’s a big difference in house edge for the Tie between that 8:1 payout and 9:1 payout. You want to avoid betting on the Tie in land-based casinos. Now we’ll look at probabilities.
Banker: 45.86%
Player: 44.62%
Tie: 9.50%
The banker makes a decision to draw a third card after the Player’s turn is complete, which gives the banker an advantage. That edge translates into higher win probabilities and a lower house edge. You’ll pay for the banker bet with that 5% commission, but it’s a small price to pay for more wins. Try out Baccarat at Slotslv Casino.