Despite its Bond-dipped mystique, the game of Baccarat is simple enough for anyone to understand. Players bet on either the Player hand or the Banker hand, and the hand that comes closest to nine wins. Nine is the highest hand, while ten and picture cards count as zero and aces as one. The game originated in Italy, where it is known as Punto Banco, and later moved to France, where it became Chemin de Fer (Chemmy).

Baccarat’s elitist history explains why it is often found tucked away in high-limit gaming areas, but this exclusivity also provides an opportunity to see some of the most lucrative action in casino gambling. Snow says that in Macau, a single hand can result in bets of $100,000 or more. In fact, baccarat generates more revenue than any other table game.

The game is played with a large, circular table and a number of betting areas that are labeled Player, Banker, Tie, and the like. A baccarat table also features a large, red-felt Baccarat shoe that resembles a horseshoe and is used to mark the winning hand. The game is generally dealt by a professional dealer, although some casinos allow players to deal their own hands.

There is no arguing that baccarat has a certain flair, from the ritualized shuffling and dealing of the cards to the hushed quorums of players analyzing the results in the hope of finding an edge. But it is also a game that has a Zen-like minimalism. Regardless of the betting area, all bets are placed against the house, and a winning hand is determined by whichever hand has the highest value after the two initial cards are dealt.

Unlike blackjack, in which players play against other customers, baccarat is played with one dealer and bets are made against the house. A bet on the Banker hand pays out 1:1, while a bet on the Player hand pays out 9:1. In addition, a bet on a tie is a win-win proposition for any player, regardless of which side wins.

As a result, the house edge is slightly higher on a bet on the Player hand, but it still offers better odds than any other table game in casinos. The game’s popularity has increased with the rise of Asian markets and the emergence of new technology that allows players to place bets from anywhere in the world. At this year’s G2E, AGS introduced a new progressive jackpot system that can link all table games in a single casino and offer a shared jackpot—a first for the industry. The company is also working on an AI-powered predictive algorithm that will allow players to learn the game and make better decisions. It’s an exciting time for Baccarat, but will the iconic card game have staying power as the casino patron base shifts? Only time will tell.