Baccarat, sometimes referred to as Punto Banco, is a popular casino game that does not require much skill to play. It has been around for centuries and is still one of the most popular games in many casinos today, especially in Asia. Many people associate the game with luxury and high stakes, but the truth is that it can be played on any bankroll. In fact, some of the most successful players in the world have made their money from baccarat.

The game originated in Italy and later reached France, where it became a craze among the wealthy aristocracy. In the 19th century, a more simplified version of the game was developed. This version, known as Chemin de Fer, is still a popular form of the game today.

Despite its complicated history, the game is relatively easy to understand. Baccarat is a game of chance, with the object being to predict which hand will be closest to nine in total value. Each player and the dealer are dealt two cards each, which are then evaluated. If either the player or banker hands have a total of eight or nine, they are called naturals. If the player or banker hands have a value of four or less, they lose.

Players place bets on the “Player” hand, the “Banker’s” hand, or a tie. Bets are placed in counterclockwise order, and each player may add to the wager as long as the total does not exceed the banker’s initial bet amount. There are also sheets at each table to keep track of the betting. Points are added by adding the values of each card and dropping the first digit. The values of the cards are as follows: 10 and the picture or face cards are worth 0 points, while aces count as one.

A third option is the tie bet, which pays 8-to-1 if both the player and banker have a total of 9. However, this bet has the highest house edge of any bet in the game. As a result, it is usually avoided by serious players.

In the United States, baccarat is mostly played in Asian casinos, with some exceptions in New Jersey and Nevada. It is most popular in Macau, which has since dethroned Las Vegas as the top casino destination. In Macau, baccarat is responsible for over 80% of total casino profits.

The popularity of the game in Europe and Latin America waned after the early 20th century, but the game has never lost its appeal to high rollers. Its reputation as an upscale, sophisticated game is due in large part to its appearance in several movies, including the 1963 film Casino Royale, where James Bond plays against Le Chiffre.

The number of decks used in baccarat can vary from casino to casino, so it’s important to check the rules before playing the game. Some online versions of the game use fewer than the traditional eight, while others use more, which can affect the odds of winning.