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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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