Baccarat is that enigmatic card game you see high-rollers in tuxedos playing in the opulent casinos. The game exudes refinement and seems complicated, but the truth is that it’s a straightforward card game whose mystique is mostly due to the glamorous trappings of its gaming table. Whether you’re looking to play baccarat online or at a land-based casino, there are a few things to keep in mind before making your first bets. Getting started with Baccarat can be intimidating, but with some preparation you’ll be ready to take your chances at this exciting casino game. The game of baccarat is played with specialized chips in many casinos. In American casinos, $100 bills are placed in a special alcove on the table, and European casinos use oblong “plaques.” Regardless of the type of chip you’re using, baccarat is usually played with large denominations to make it appear more dramatic and exciting. The game itself is a simple and straightforward one that involves only three betting options – betting on the Banker’s hand, the Player’s hand, or a Tie. Each player place their chips on the baccarat table based on who they think will win the round. The game pays out based on the outcome of the winning hand. In the event of a tie, the stake is returned to the players. If you bet on the Player’s hand or the Banker’s hand and they win, your stake is paid out at odds of 8:1 or 9:1, depending on the casino and variant of baccarat you’re playing. Before the deal begins, the dealer will flip over two cards for the Banker’s hand and two cards for the Player’s hand. The dealer then tots up the values of both hands and determines which one is closest to nine without going over. If neither the Banker’s hand nor the Player’s hand is closer to nine, a third card may be drawn by the dealer. In the case of a tie, your stake is paid out at a higher rate of 8:1 or 9:1, depending again on the casino and variant of baccarat. It is a good idea to bet on the Banker’s hand as it offers a lower house edge of 1.06%, and wins more often than the Player’s hand. When excluding ties, the Banker’s hand wins 45.8% of the time, which is slightly better than coin-flip odds. It is also important to set your loss limits and walk away when you have reached them, as the game can become addictive.