Baccarat is a game that has become popular with high rollers in casinos worldwide. It is a simple casino game that doesn’t require any skill to play and requires only a small minimum bet of $1. It is played in the high stakes tables at European and Nevada casinos, as well as online in New Jersey and Michigan where it has become legal to play. The game is based on the outcome of a hand being closest to nine. The game is also known as Punto Banco and originated in the mid-19th century France.

The table is divided into two sides, with players sitting to the right and left of the banker. The player’s and banker’s hands are dealt two cards each, and the winning hand is determined by which one is closer to 9. The game is not a true card game as the cards have no special value, aside from their face value. An ace is worth one point, while tens and face cards are valued at zero. Other cards are worth their face value, with the exception of the king and queen which are worth ten points.

Unlike some casino games like blackjack or roulette which have numerous wager options, baccarat is much simpler in that there are only three bets to make. The player can bet on the Player hand, the Banker hand or a tie. The most popular bet is on the Player hand, which has a house advantage of just over 50 percent. A bet on the Banker hand has a house advantage of around 1.2 percent, while a bet on a tie has an even higher house edge of over 14 percent.

High rollers are drawn to baccarat for the cultural reasons that Zender discussed, as well as its low house edge on both the banker and player bets. However, the tie bet has a high payout rate and is often a trap for inexperienced gamblers who are tempted to place this bet because it offers high payout odds of eight to one. The best advice for those who are interested in playing baccarat is to stick with placing either the player or banker bet, and avoid the risky tied bet wager at all costs.

Before playing baccarat, decide how much you want to spend on the game in advance. This should be the maximum amount you are willing to lose, and you should only use cash when gambling. This will help you stay focused and keep your spending in check. Once you reach your baccarat spending limit, you should walk away and move on to other casino games, such as slots or video poker. This will help you prevent wasting your money and ensure that you have enough to pay any relevant taxes should you be lucky enough to win at the table.