Baccarat is a table game that offers a simple betting system and high payouts, while maintaining a low house edge. It’s one of the most popular casino games in the world and is a staple on many Vegas casinos’ gaming floors. It’s even featured in James Bond movies! Baccarat’s simplicity makes it easy for new players to pick up the game, but there are still some important rules that need to be followed.

The game starts when the banker sets an initial amount to play against. After this, the players go in counterclockwise order and announce if they want to bet “player,” “banker,” or “tie.” If a player decides to be the banker, they can add more money to their bet after announcing it, but it cannot exceed the original banker amount.

When the players and the banker have placed their bets, the dealer will deal two cards for each hand. The hand that totals closest to 9 wins. In addition, the player and banker bets both pay out based on their wager amount. Tie bets, on the other hand, offer a much higher payout, but their odds are significantly longer than those of player or banker hands.

Before the game begins, the baccarat dealer will assign a number to each active player space at the table. Each player must place their chips based on which side they’re betting on to win that round. In most cases, the player and banker sides have the same house edge, but you can also choose to bet on a tie.

After the players and the banker have each received two cards, the croupier will announce what the total value of the hand is. Then, he will determine whether the winner is the player or the banker. If the croupier declares a win, the winner must match the winning amount of the bet with their own wager. Otherwise, the winnings will be lost.

Some players use pattern systems to maximize their chances of winning baccarat. Generally, these systems follow either the belief that the player and banker take turns having winning streaks or that the first digit of each hand is always the same. However, this strategy is not as effective as flat betting on the player hand. The 5% commission on banker bets must also be taken into account.