Baccarat is the enigmatic card game you see high-rollers play in James Bond movies in opulent casinos. While the game has a reputation for being difficult, it actually has few complexities and maintains a low house edge. It’s easy to learn, and with the right strategies, you can become a Vegas Baccarat champion.

Baccarat’s history traces back to medieval Italy, where it was reserved for the upper class and aristocrats. The game was later introduced in France, where it became a popular casino game in the late 19th century. The game’s popularity in Europe and Latin America led to its introduction in Las Vegas, where it quickly became a favorite of high-rollers.

There are several baccarat variations, each with different rules and side bets. Some of these are more profitable than others, so it’s important to know the game’s rules before betting any money. The best way to understand the game is to watch it being played by an expert. Then, you can follow along as the dealer works out the odds and payouts for each hand.

Among the most well-known baccarat betting strategies is to bet on the banker hand, which has a lower house edge and offers higher odds of winning than the player hand. This strategy is especially useful when you’re using a bankroll management system, which adjusts your bets based on wins and losses to maximize your profits.

Aside from betting on the banker, you can also bet on the tie, which has a higher house edge and lower odds of winning than the banker or player hands. It’s important to avoid placing a tie bet, as it can lead to huge losses in short periods of time.

Another popular baccarat betting strategy is the Labouchere system, which creates a sequence of numbers and adjusts them based on losses and wins. The basic idea of the Labouchere system is to add the amount you lost after each loss, then subtract it after a win. You can then use this number sequence to calculate the amount you need to bet to reach your target profit.

The simplest way to play baccarat is by betting on the hand you think will come closest to nine. If the player or banker’s cards total less than nine, they must draw a third card. If the third card is a nine, it closes the round. The player and banker must then follow a set of rules depending on the outcome.

In the past, baccarat was only available in high-roller pits. The game’s popularity grew in the late 2000s, when gambler Phil Ivey won more than $12 million from two Atlantic City casinos by playing the game. Ivey’s success spawned the term “edge sorting” to describe his technique, which involves making a series of bets that maximize his chances of winning. Although edge sorting isn’t illegal, it’s important to understand the rules and the risks of playing this game. In addition to knowing the rules of baccarat, it’s essential to choose an online casino that provides fair gaming practices.