Baccarat is a game of simple rules. You bet on which hand, the player or the banker, will come closest to nine when all of the pips (the dots on a card that distinguish clubs, spades, diamonds and hearts) are added up. The higher the total, the closer to nine the hand will be. Cards numbered 1 to 9 have their face value, while the ace counts as one point.

While the game has a reputation for James Bond pageantry, including the addition of tuxedo-clad dealers, and high table limits, it can actually be played on the casino floor, where you’ll find low minimums that make it accessible to players of all income levels. Baccarat, in fact, is often the favorite game of Asian high rollers and other wealthy gamblers, according to Bill Zender, a former Nevada Gaming Control Agent, casino dealer, executive and consultant who literally wrote the book on managing casino games.

When playing baccarat, the objective is to correctly predict which hand — Player, Banker or Tie — will come closest to nine. Winning bettors on the player hand qualify for a 1:1 payout, while those on the banker hand pay out 8:1. A winning Tie bet pays out eight to one as well. However, a 5% commission must be paid to the dealer for winning banker hand bets.

To minimize the house edge, smart players utilize a variety of betting strategies. Many choose to avoid the Tie bet altogether, since it has a high 14.1 percent advantage for the casino, and instead place their wagers on the two main hands. Others prefer to follow the Fibonacci or D’Alembert betting systems, which allow them to adjust their bet sizes after every win and loss.

The final decision on whether to bet on the player or banker hand is based largely on the current odds on that particular hand. The odds are calculated by adding the probabilities of each outcome to the overall house edge of the game. In this case, the player side is currently offering a 0.5 percent house advantage and the banker side a 1.35 percent advantage.

Regardless of the betting strategy employed, it is crucial that you understand the game’s rules and how they apply to your specific situation. This is where a casino’s professional staff comes in. They should be able to explain the rules of baccarat, how to play and the strategies that are most effective.

While baccarat’s rules are relatively simple, the game can be quite complicated to master, especially when it comes to understanding how to read the odds. The most important thing to remember is that each hand is independent and past results do not guarantee future outcomes. It is also essential to never become obsessed with patterns or streaks – this can lead to disastrous decisions, as they will likely be short-lived. For this reason, it’s always recommended that you consult a professional casino advisor prior to playing the game.