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 Baccarat
is perhaps the gambling game that appears the most sophisticated. Most people's familiarity with the game comes from James Bond movies.
Well dressed people, usually European, seem to be playing for large sums of money. Even in US casinos baccarat tables are often set off
to the side by themselves -- mysterious. In contrast, the more "working-class" games of craps and slots areas are smack dab in
the middle of the busiest areas of the casinos.
But looks can be deceiving. The fact of the matter is baccarat is nothing but luck. The game is a pure negative expectation gamble.
There is no strategy, no way to win except to get lucky. On the other hand, except the bet on a tie where it is huge, the usual house
edge is fairly small. This is basically because the game is like flipping a coin. The house will gladly let you bet either heads or
tails if they only have to pay you $19 if you win and you have to pay them $20 if you lose.
The method of the way the house makes its edge explains why the game has evolved into on for the snobby rich: the house takes a 5%
commission on bets. So, the bigger the bets, the more the house takes. While nickel slots can be profitable for casinos, $1 baccarat
games would be a waste of casino floor space.
Baccarat is pure gambling. Either own the house, or don't play. If a gun is put to your head and you absolutely must bet, then understand
that (under the normal rules) betting on the "banker" is a less bad bet than betting on the "player".
How much gamble is there in Baccarat?
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