Baccarat Strategy
Calculating the odds in baccarat is more straightforward that figuring poker hand odds. In baccarat, the odds on the bank hand and player hand are pretty close to even (50.68 percent of the time, the banker hand wins). Either hand may be bet on by the players, except in the full table version where the person designated to deal from the shoe must bet on the bank or pass the shoe to the next player. For this reason the preferred bet is on the banker hand, in spite of a 5% commission, the pay-back on the banker hand is slightly better. The players may also bet on a tie, at either 8-1 or 9-1 return for a win. However, both of these give the house a good edge. Thus, the best bet is to put money on the banker hand. The lower the house commission on the banker hand the better the return on investment.
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Baccarat bears some resemblance to blackjack, so it is thought by some that it might be vulnerable to a card-counting strategy. However, this is not likely as there is no discretion on the part of the player regarding whether or not he will take an additional card or not and bets are laid before any cards are seen. Even so mathematicians have shown there is an advantage if the player waits for several hundred hands and counts cards precisely. But waiting and counting for so many hands to place a bet at a baccarat table at a casino is hardly remunerative, returning only on average a dollar or two per hour in the long run.
Because, unlike poker or blackjack, there is no discretionary strategy in the play of baccarat, the key to strategy lies in money management. When, and how much to bet is the key question. The answer is, do not bet all the chips at once. The object of baccarat should be to have an enjoyable time, not to win money. Keep bets moderate, generally place them on the player hand. Do not make desperate moves to win all that you have lost. This has a tendency to multiply losses. Remember, the odds are stacked in favor of the house. In a game played to infinity you will lose all your money eventually. Set a limit on how much you will lose, but also set a limit on how much you will win. When you reach your limit quit. You will come off a winner and ultimately have more fun.
Some people hypothesize that they might be able to continuously make money on even bets if only they can double their bet every time they lose in order to win back previous losses. The fact is, this strategy does not work because long streaks are not only possible, but likely, and the player will run out of resources before the streak ends. The chances of a streak running against the player for 5 hands in a row is roughly 1.56%1. If one were to begin with a $10.00 bet and double it at every loss, this would mean the second bet would have to be $20.00, the third bet $40.00, the fourth bet $80.00, and the fifth bet $160.00. If the losing streak were to hold out for five hands the total now lost would be $310.00. Another losing hand would bring it to $630.00, and so on, doubling every hand thereafter. All this to get $10.00. Sooner or later the unlimited resources of the bank will wipe out the player. In the long run, the house always wins.
Is there a way to walk away from the table with more money than you came with? Certainly, it's called quitting while you are ahead. The key to playing baccarat is to remember that it is to be played as a fun game, not as a way to make money. As you hear in all the radio ads, "gamble responsibly".
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