Baccarat is the simplest table game in the casino with the best odds. No decisions affect the outcome—you simply bet on Player, Banker, or Tie, and fixed rules determine whether each hand draws a third card. This simplicity, combined with a house edge under 1.1% on Banker bets, makes baccarat the game of choice for high rollers worldwide. The game generates more revenue in Macau than all other table games combined.
- Bet placement: Choose Player, Banker, or Tie before cards are dealt
- Initial deal: Two cards each to Player and Banker positions
- Third card rules: Fixed rules determine if either hand draws
- Comparison: Hand closest to 9 wins
- Settlement: Winning bets paid according to odds
| Position | Meaning |
|---|
| Player | One of two competing hands (not "your" hand) |
| Banker | The other competing hand (not the house) |
| Tie | Both hands equal |
Important: "Player" and "Banker" are just names for the two hands. You can bet on either regardless of which side you prefer.
| Phase | Action |
|---|
| Betting open | Place chips on Player, Banker, or Tie |
| Cards dealt | Dealer handles everything |
| Result | Automatic - no player decisions |
| Payout | Winners paid, losers collected |
| Card | Value |
|---|
| 2-9 | Face value |
| 10, J, Q, K | 0 points |
| Ace | 1 point |
Hand Value=(Sum of Cards)mod10Only the rightmost digit counts. If cards total more than 9, drop the tens digit:
| Cards | Sum | Hand Value |
|---|
| 7 + 2 | 9 | 9 (Natural) |
| K + 5 | 5 | 5 |
| 8 + 7 | 15 | 5 |
| 9 + 9 | 18 | 8 |
| 6 + 4 + 9 | 19 | 9 |
| Total | Name | Result |
|---|
| 8 or 9 | Natural | No more cards drawn |
| Natural vs Natural | Comparison | Higher natural wins |
| Equal Naturals | Tie | Tie bets win |
A natural 9 beats a natural 8. Both beat any non-natural hand.
| Metric | Value |
|---|
| Payout | 0.95:1 (5% commission) |
| House edge | 1.06% |
| Win probability | 45.86% |
| Tie probability | 9.52% |
Why 5% commission? Without it, Banker would have a player edge. The commission ensures the house maintains advantage.
| Metric | Value |
|---|
| Payout | 1:1 (even money) |
| House edge | 1.24% |
| Win probability | 44.62% |
| Tie probability | 9.52% |
No commission, but slightly worse odds than Banker.
| Metric | Value |
|---|
| Payout | 8:1 (sometimes 9:1) |
| House edge | 14.36% (8:1) / 4.84% (9:1) |
| Probability | 9.52% |
Never bet Tie. Even at 9:1 payout, it's mathematically inferior to Banker or Player.
| Bet | House Edge | EV per $100 | Recommendation |
|---|
| Banker | 1.06% | -$1.06 | Best bet |
| Player | 1.24% | -$1.24 | Second best |
| Tie (8:1) | 14.36% | -$14.36 | Avoid |
| Tie (9:1) | 4.84% | -$4.84 | Still avoid |
| Player Total | Action |
|---|
| 0-5 | Draws third card |
| 6-7 | Stands |
| 8-9 | Natural - stands |
Simple rule: Player draws on 0-5, stands on 6-7.
Banker's action depends on Player's third card:
| Banker Total | Draws When Player's Third Card Is | Stands When |
|---|
| 0-2 | Always draws | Never |
| 3 | 0-7, 9 | 8 |
| 4 | 2-7 | 0, 1, 8, 9 |
| 5 | 4-7 | 0-3, 8, 9 |
| 6 | 6-7 | 0-5, 8, 9 |
| 7 | Never | Always |
You don't need to memorize this. The dealer handles all decisions automatically.
The Banker rules are designed to respond to Player's third card:
P(Banker wins)=0.4586>P(Player wins)=0.4462This 1.24% advantage for Banker is why casinos charge 5% commission.
EV (Banker)=(0.4586×0.95)+(0.4462×−1)+(0.0952×0)=−0.0106EV (Player)=(0.4462×1)+(0.4586×−1)+(0.0952×0)=−0.0124EV (Tie 8:1)=(0.0952×8)+(0.9048×−1)=−0.1436| Outcome | Probability | Cumulative |
|---|
| Banker wins | 45.86% | 45.86% |
| Player wins | 44.62% | 90.48% |
| Tie | 9.52% | 100% |
| Total Wagered | Banker Loss | Player Loss | Tie Loss |
|---|
| $1,000 | $10.60 | $12.40 | $143.60 |
| $10,000 | $106 | $124 | $1,436 |
| $100,000 | $1,060 | $1,240 | $14,360 |
σBanker≈0.93 per unit betσPlayer≈0.95 per unit betBaccarat has relatively low variance compared to slots, making results more predictable.
No-Commission Banker EV=(0.4586×1)−(0.4462×1)=+0.0124Without commission, Banker would have 1.24% player edge—hence the 5% tax on wins.
| Feature | Mini Baccarat | Full Baccarat |
|---|
| Table size | Small (7 players) | Large (14 players) |
| Dealer | One, handles all | Three dealers |
| Speed | Fast (200+ hands/hr) | Slow (40-60 hands/hr) |
| Minimums | $10-25 | $100-500+ |
| Card handling | Dealer only | Players may touch |
| House edge | Same | Same |
Mini baccarat has identical odds but faster pace—higher hourly loss rate.
Middle ground between mini and full baccarat:
- 9 player positions
- Players can touch cards on highest bet
- Moderate pace
- Medium minimums
| Feature | Detail |
|---|
| Banking | Players take turns as Banker |
| Decisions | Players can choose to draw |
| Commission | 5% on Banker wins |
| House role | Facilitator only |
| Common in | European casinos |
Player decisions make Chemin de Fer slightly different mathematically.
| Feature | Detail |
|---|
| Commission | None |
| Dragon 7 | Banker wins with 3-card 7 = push |
| Panda 8 | Side bet on Player 3-card 8 |
| House edge | 1.02% (Banker), 1.24% (Player) |
Eliminates commission but Banker pushes on specific outcomes.
| Feature | Detail |
|---|
| Betting time | 10-12 seconds |
| Hands per hour | 120-180 |
| Cards | Face-up immediately |
| Best for | Experienced players |
| Feature | Detail |
|---|
| Card reveal | Dramatic slow reveal |
| Interaction | Chat with dealer |
| Pace | Slower for suspense |
| Appeal | Entertainment value |
| Strategy | Recommendation |
|---|
| Always bet Banker | Best mathematical approach |
| Never bet Tie | 14% edge is unacceptable |
| Ignore patterns | Previous results don't predict future |
| Manage bankroll | Set loss limits, stick to them |
| Myth | Reality |
|---|
| "Banker streak continues" | Each hand independent, 45.86% always |
| "Player due after losses" | Gambler's fallacy - no memory |
| "Patterns predict outcomes" | Random results show apparent patterns |
| "Choppy tables favor Player" | No predictive value |
| System | Short-Term | Long-Term | House Edge |
|---|
| Martingale | Frequent small wins | Rare catastrophic loss | Unchanged |
| Paroli | Ride winning streaks | Same expected loss | Unchanged |
| Flat betting | Steady | Steady loss | Unchanged |
| Card counting | Minimal edge | Not worth effort | ~0.01% improvement |
Maximum Edge from Counting≈0.15%Unlike blackjack's 1-2% edge, baccarat counting provides negligible advantage:
| Factor | Blackjack | Baccarat |
|---|
| Potential edge | 0.5-2% | 0.01-0.15% |
| Bet variance needed | 1-12x | Extreme |
| Practical? | Yes | No |
| Casino tolerance | Low | Doesn't matter |
Phil Ivey famously won millions using edge sorting:
- Identified asymmetrical card backs
- Requested specific shuffling procedures
- Courts ruled this violated casino rules
- Modern casinos prevent with better cards and procedures
| Game | House Edge | Skill Required |
|---|
| Baccarat (Banker) | 1.06% | None |
| Blackjack (basic strategy) | 0.5% | Medium |
| Craps (pass/don't pass) | 1.41% | None |
| Roulette (European) | 2.70% | None |
| Slots | 2-15% | None |
| Factor | Advantage |
|---|
| Low house edge | Minimizes long-term loss |
| No decisions | Can't make mistakes |
| High limits | Casinos accommodate large bets |
| Fast resolution | Clear win/loss each hand |
| Superstition friendly | Ritual doesn't hurt odds |
| Game | Hands/Hour | Avg Bet | Hourly Loss |
|---|
| Mini Baccarat | 200 | $100 | $212 |
| Full Baccarat | 50 | $500 | $265 |
| Blackjack | 80 | $100 | $40 |
| Roulette | 40 | $100 | $108 |
Despite low edge, mini baccarat's speed increases hourly losses.
| Factor | Detail |
|---|
| Speed | Very fast (60+ hands/hour solo) |
| Minimums | $0.10-1 |
| RTP | Same (house edge identical) |
| Fairness | Certified RNG, audited |
| Experience | Less atmosphere |
| Factor | Detail |
|---|
| Speed | Moderate (40-60 hands/hour) |
| Minimums | $1-5 typically |
| Dealers | Real humans, streamed |
| Squeeze options | Available at premium tables |
| Social | Chat with dealers/players |
| Priority | Best Choice |
|---|
| Lowest house edge | Standard Banker bet |
| Entertainment | Live dealer with squeeze |
| Learning | Free play RNG |
| High stakes | VIP live tables |
| Fast play | RNG or speed baccarat |
Session Length=Bet Size×1.5Bankroll| Bankroll | Bet Size | Expected Hands |
|---|
| $500 | $25 | ~13 hands |
| $1,000 | $50 | ~13 hands |
| $5,000 | $100 | ~33 hands |
| Limit Type | Recommendation |
|---|
| Loss limit | 50% of session bankroll |
| Win goal | 30-50% profit |
| Time limit | Set before playing |
| Stop-loss | Walk away when reached |
Remember: Banker wins require 5% commission tracking.
| Banker Wins | Gross Win | Commission | Net Win |
|---|
| 10 × $100 | $1,000 | $50 | $950 |
| 20 × $100 | $2,000 | $100 | $1,900 |
Some casinos collect commission per hand; others track and collect at table change.
- Baccarat Calculator - Calculate odds and EV
- Baccarat Strategy - Optimal play guide
- Bankroll Calculator - Session planning
