Baccarat is one of the world’s most popular casino games. From sticky-floor California card rooms to the tuxedo-laden casinos of Monaco, baccarat is a game that’s often associated with sophistication and luxury. While the game is often seen as a high-stakes game, it’s not impossible to win if you follow some simple tips.

In baccarat, players place bets on either the Player hand, the Banker’s hand or a tie. Each round involves the dealer dealing two cards to each hand and then adding up the total value of the two cards. If the value of a Player or Banker hand is closest to nine, that hand wins. If neither hand has a total of nine, it’s a tie.

The game has a long history and was first mentioned in a 1926 novel by Arthur Schnitzler, Night Games. The author wrote that a special area of the casino was reserved for the game, and players used real cash to place their bets. In America, players use $100 bills while European casinos use oblong chips for higher denominations.

Today baccarat is popular around the world, particularly in Asian countries where it accounts for over 80% of all casino profits. It is also a very popular casino game in the US, and many American casinos have baccarat tables. The game’s popularity is due in part to its glamorous trappings, which include a private table and a separate betting area from the rest of the casino. Baccarat tables are often adorned with red silk and embroidered cushions, and the bets are placed on a specialized board that’s six rows in height and contains three columns labeled ‘banker,’ ‘player’ and ‘tie.’ The board also shows the results and trends of each shoe on a ‘road,’ which is a pictorial representation using colored symbols arranged in a rectangular grid.

Before a hand is dealt, players must place bets on the outcome of the round. The Player, Banker or Tie bet will pay out based on the result of the hand, and winning bets will have a lower house edge than losing ones. If you bet on the Player hand and win, the payout will be 1:1. However, the house takes a 5% commission on winnings on the Banker hand.

The best way to play baccarat is to decide in advance how much you want to spend, and then stick to it. This way, you won’t be tempted to chase your losses by increasing your bets after each loss. Baccarat can become a very expensive game if you’re not careful, so make sure to treat it like money for a night out instead of an investment.