Baccarat (pronounced bakəraː) is a simple game with only three possible results - 'Player', 'Banker' and 'Tie'. The term 'Player' does not refer to the customer and the term 'Banker' does not refer to the house. They are just options on which the customer can bet.

Valuation of hands

In Baccarat, cards 2-9 are worth face value, 10s and face cards (J, Q, K) are worth zero, and Aces are worth 1 point. Players calculate their score by taking the sum of all cards modulo 10, meaning that after adding the value of the cards the tens digit is ignored. For example, a hand consisting of 2 and 3 is worth 5 $(2+3=5)$. A hand consisting of 6 and 7 is worth 3 $(6+7=13=3)$ - the first digit is dropped because the total is higher than 10. A hand consisting of 4 and 6 is worth zero, or Baccarat $(4+6=10=0)$. The name "Baccarat" is unusual in that the game is named after the worst hand, worth 0. The highest score that can be achieved is 9 (from a 4 and 5, 10 and 9, or A and 8, etc).

Punto Banco (North American Baccarat)

In the United States, Canada, Australia, Sweden, and Macau, a variation of baccarat is played in which the casino banks the game at all times. Players may bet on either the player or the banker, which are merely designations for the two hands dealt in each game.

The cards are dealt face down, one to the 'Player' first, then to the 'Banker'; 'Player' then 'Banker' again. This is the initial deal consisting of two cards each. Both cards in each hand are then turned over and added together and the croupier calls the total (e.g. five to the 'Player', three to the 'Banker'). From this position the 'Tableau' or table of play is used to determine if further cards need to be drawn. Depending on the two hands, the Player and Banker may draw a single card or stand pat. The hand with the highest total wins.

If either the Player or the Banker achieves a total of 8 or 9 on the initial deal (known as a 'natural'), no further cards are drawn. If not, play proceeds as follows.

• If the Player has an initial total of 0-5, the Player draws a single card. If the Player has an initial total of 6 or 7, he stands.
• The Banker's play depends on the Banker's hand, on whether the Player drew a card, and on what card the Player drew:
• If the Player did not draw a card, the Banker draws if he has 0-5, and stands if he has 6-7.
• If the Player drew a 2 or 3, the Banker draws if he has 0-4, and stands if he has 5-7.
• If the Player drew a 4 or 5, the Banker draws if he has 0-5, and stands if he has 6-7.
• If the Player drew a 6 or 7, the Banker draws if he has 0-6, and stands if he has 7.
• If the Player drew an 8, the Banker draws if he has 0-2, and stands if he has 3-7.
• If the Player drew an ace, 9, 10, or face-card, the Banker draws if he has 0-3, and stands if he has 4-7.