Baccarat is a casino game that has been around for a long time. It is a popular game played in many casinos and it is also often referred to as chemin de fer.

The game is based on standard 52-card decks that are shuffled together. Each card has a numerical value, and this is used to determine how the player’s hand will be calculated. Cards from 2 through 9 have a numerical value of their pip denomination, while face cards and 10s carry no numerical value.

Players can choose to wager on either the Banker or the Player hand. However, the Banker is the preferred bet in most cases because it has a lower house edge than the Player.

It is important to understand the rules of baccarat in order to win at this game. The game can be a difficult one to learn, and it is a good idea to practice with free play before playing for real money.

You will be able to learn the rules of baccarat from your local casino’s table manager or through a book on the game. Once you are familiar with the basic rules, you can then move on to the more complicated strategies that involve making multiple bets.

Before you start to play baccarat, decide how much you want to stake. The average stake is around 10 chips for each bet. Staking this amount can help you to keep track of your bank streaks and avoid getting too carried away.

Remember that if you win a bet on the player hand and it comes nearest to 9, you will earn twice your stake back! You can also bet on a tie and win 8 to 1.

There are three main versions of the game: Chemin de fer, Baccarat a deaux tableaux, and Punto Banco. The best known is Punto Banco which is now the most common form of baccarat in casinos worldwide.

The main difference between this and the other two is that there are only two players – the banker and the player. This is very different to the classic version of baccarat where there are three players and the banker and player are matched up with each other.

Traditionally, the banker was the most skilled player in the game of baccarat and so he would have the upper hand. He would also be the one who made the most money on his hand, as he was paid by all other players to make his wagers.

In the game of baccarat, the banker makes decisions regarding which hand he wants to draw a third card and when. In addition, he is the only one who can decide to stand or hit.

This means that he does not have to draw a card unless the player’s hand total is five or less and he has been asked by the player for a third card. The player then decides whether or not to call for a third card, based on the Banker’s first two cards and the player’s third card.