The Elegance of Baccarat
From sticky-floor California card rooms to tuxedo-laden casinos in Monaco, there’s something about baccarat that just oozes elegance. It could be the allure of tuxedo-clad James Bond breaking the bank in Monte Carlo or perhaps it’s simply the game’s low house edge that makes it appealing to casino patrons.
The baccarat table is about the size of a craps table and is manned by three casino employees: two dealers taking bets from as many as 14 players and one croupier who directs play and calls hands. Unlike blackjack, there are no player cards in baccarat, only the dealer and the “banker’s” hand. Each hand starts off with two cards in a box, with a box for the “Player,” a box for the “Banker,” and a “Free” box that is used for third-card draws.
If a player’s or Banker’s first-card total is 0 to 5, a third card is drawn. If the first-card total is 6 or 7, no third card is drawn; this is called a “stand,” and the winning bet is paid. Totals of 8 or 9 are described as “naturals,” and the corresponding winning bet is paid.
A croupier calls each hand, and a special scoreboard – which also doubles as advertising – tracks the results of each hand. The scoreboard allows customers walking around the gaming area to view different table scores and look for patterns that might attract them to a particular game.
When a hand is won by the Banker, the croupier pays back the winner’s wager at 95% of the stake. If the winning hand is a player’s, he or she must drop the “one” when the total reaches a double digit, e.g., 7 + 5 = 12, so the true value is 2. If the winning hand is a tie, the player wins at least half of the stake. In either case, betting on the Banker can be risky, as it is possible to lose both the player’s and banker’s bet. That’s why it’s important for players to practice good money management skills, limiting their bets to 10 units per session and monitoring their losses and wins carefully. This prevents them from overspending. This strategy is especially important in high-limit games. For smaller operators who lack the volume or deep pockets to pursue premium segment business, baccarat is a game that offers healthy mass business at a variety of price points. To maximize this opportunity, a company should astutely evaluate its financial position and tolerance for risk before deciding which price point to pursue.