Baccarat is one of the most popular card games in casinos around the world. It is a simple game to learn and can be played with any number of players. It is also an attractive game for high rollers because of its low hold percentage. It has two main bets, banker and player, with a third bet on tie. It uses a multi-deck shoe, just like blackjack.
There are several variations of baccarat available in US casinos and online. These variations can have small differences in rules and payouts. It is important to understand these differences before betting cash on the game.
First, players must locate the baccarat table on the casino floor. This may require some walking or asking a casino employee for directions. High rollers are often given their own table or a dedicated area for the game. This will be separated from the regular casino floor by a velvet rope. Once the table is found, the next step is to decide which hand to bet on and how much to wager.
The banker puts down the initial stake and players take turns placing bets of any amount up to that amount in counterclockwise order. If they want to bet against the banker, they must announce that they are “going bank.” Players can place additional bets as long as their total doesn’t exceed the banker’s stake.
Once the bets are placed, the dealer deals the cards. The player’s and banker’s hands are then compared to determine which hand has the higher value. If either the player’s or banker’s hand is a total of 8 or 9, the hand wins and the bettors are paid. If the hand is a 7 or less, a third card will be drawn.
If the player or banker win, they will be paid out even money on their bets, minus a 5% commission. The game’s history stretches back to medieval Italy. From there, it moved to neighboring France, where it became known as chemin de fer. It was adopted by the Chinese in the late 19th century and is now one of the most popular games in Asia.
Baccarat has a rich heritage that is steeped in tradition and ritual, making it an appealing game for high rollers to play. It has become a staple in many Asian casinos and is enjoyed by millions of people worldwide. The popularity of the game has been further fueled by its appearances in James Bond films.
Edge sorting in baccarat is an issue that has made headlines in recent years. It is a form of collusion in which multiple players collude to give themselves an advantage by betting on the same outcome. It is illegal in most jurisdictions, but some casinos still practice it. In 2012, Phil Ivey won over $10 million in two separate instances of edge sorting at the Borgata Hotel and Casino in Atlantic City. Fortunately, there are ways to avoid this problem when playing the game.