Baccarat is one of the most glamorous, prestigious games in casinos. It is usually played for high stakes, and is often spread out in a separate area of the casino that is blocked off from other tables. It is the casino game that has been favored by royalty, and its aura has given it a reputation for being an exclusive and luxurious game.

Baccarat may be intimidating for first-time players, but it is actually a simple game that has many similarities to blackjack. Players bet on either the Player hand, the Banker hand, or a tie. Two cards are dealt to each of these hands, and the winner is determined based on their total value. Unlike in poker, where the rank of each card is important, in baccarat all cards are worth their face value and aces count as 1 (never 11).

The rules of baccarat can be a bit complicated, but they are not necessarily difficult to understand. The decisions made by the dealer are covered by predetermined rules and actions that are performed on a fixed schedule, so there is not much a player can do to change the outcome of a hand. However, a few basic tips can help new players make a more informed decision on their bets.

A few things to remember about Baccarat:

The game is played using a standard 52-card deck. The rules vary slightly depending on whether the game is being played in the “punto banco” or “chemin de fer” format. In general, the goal of the game is to win by betting on the hand that has a value closest to nine. The game is often referred to as the ‘game of nines,’ and the winning Banker and Player hands are praised for their elegance and superiority.

After all bets have been placed, the dealer deals a card to the Player box and then to the Banker box. If the Player or Banker hand has a total closer to nine, the winner is declared. If neither hand has a total closer to nine, a third card is drawn and the decision is made.

If a winning Player or Banker hand is declared, the bettors receive a payout of 1:1. However, a 5% commission must be paid to the house on all winning banker bets. A winning Tie bet also qualifies for a 1:1 payout, but is subject to a 5% commission as well. Score sheets are available at live baccarat tables to help players keep track of their scores.

The reason that high rollers flock to baccarat is because the game has one of the lowest house edges in all of casino gambling. Compared to the other table games, baccarat has an edge of just 1.2 percent on Banker and Player bets. There is a third bet, called the Tie, which pays eight to one, but the higher house edge makes it unattractive for most serious players. Nevertheless, baccarat is still the most popular game worldwide, with Macau casinos making more than 88 percent of their revenues last year from the game.