Baccarat may not hold the same lustrous aura as blackjack or craps on the casino floor, but this game can still be an exhilarating experience. A well-chosen bet on either the Player or Banker hand can lead to some serious cash rewards, and understanding the rules of baccarat is critical for success.

A baccarat table is about the size of a standard craps table, and it can accommodate as many as 14 players plus a dealer’s area. Unlike poker or a game of blackjack, the players do not get their own cards; instead they wager on two hands—the Player and the Banker’s—and the winner is the one closest to 9. The game can be complicated and confusing at first, but the tips outlined below will quickly guide you toward successful bets.

In the world of casino games, baccarat is considered a high roller’s game because it offers the lowest house edge of any bet on the table—1.2 percent for both the Player and Banker bets. The only other bet is a Tie, which pays eight to one and has a higher house edge of over 14 percent. For that reason, high rollers tend to stick to the Player and Banker bets.

Baccarat’s prestigious reputation stems in part from its glamorous associations with tarot card reading and the legendary French gambler Felix Falguiere, also known as the “Fugitive.” However, the history of baccarat extends much further back than this. The game arrived in the United States in the 19th century, and variations on its basic theme continue to evolve. Today, the most popular version is Punto Banco, a variation on the original game from Europe that has since spread to Asia and beyond.

The game is played with six decks of cards and a group of players at a round or oval table. The first player announces whether he or she wants to be the banker and sets an initial betting amount. Other players can then add bets in counterclockwise order. Depending on the type of game, some casinos allow players to handle the cards, while others prefer to have a caller or dealer present them on a pad.

Once the betting is finished, the dealer deals two cards to the Player and Banker. The winning hand is the one whose total comes closest to nine points. If the hands are tied, a third card is drawn. When the player or banker wins, a commission is paid to the casino.

Advanced baccarat players follow patterns in the way shoes are dealt. They know that the winning streaks will zigzag between the player and the banker, with double wins appearing for both. They can then place bets on the opposite hand, hoping to catch a double win. This strategy can reduce the game’s house edge significantly. The trick, though, is to be disciplined enough to exit the game when it’s not going your way. Otherwise, you can burn through a fortune in just a few rounds.