Baccarat has long been cultivated as a game of sophistication, conjuring images of men in tuxedos and women in posh evening gowns laying down chips as the dealer distributes cards. But don’t let its mystique intimidate you—this exciting game is surprisingly easy to learn, with a house edge that’s as low as betting on a coin flip.

The game involves two hands, one a “Banker” hand, the other a “Player” hand. After players wager on which hand they think will win, the dealer deals a total of two cards to each hand. The values of the cards determine the total value of the hand; aces count as one, while tens and kings count as zero. The hand whose total is closest to nine wins the round.

A bet on the Banker hand is statistically better than a bet on the Player hand. However, the house edge on this bet is higher because of the 5% commission charged by the casino. For this reason, most smart gamblers avoid the Tie bet altogether and stick with the Banker or Player bet.

To help players make the most of their bankrolls, baccarat offers three types of bets: Banker bets, Super Six bets, and Pair bets. These bets are optional and can be placed alongside the initial bet. Winning a Super Six bet pays 8-to-1, while a winning Pair bet rewards the player with a payout of 11-to-1. The Banker side has a slight advantage over the Player side because it draws cards last, but the prevalence of ties messes with those odds.

Players can also place a bet on the first two cards dealt to both the Banker and the Player. This bet is called a Super Six or a Pair Bet, and it can pay up to 12 times the original bet amount. The player can also place a bet on the Banker to have a nine-point hand by placing it alongside the initial bet, or on a Player to beat the Banker by at least two points with a seven-point hand by betting on a seven.

Baccarat is a fast-paced game, and the most profitable bets occur when the game isn’t in progress. Players can take steps to minimize losses by establishing limits in advance and using cash only. They should also decide how much they’re willing to lose at the table and stop when that limit is reached. Finally, they should practice money management techniques such as the D’Alembert strategy—a simple system of increasing bet size after each win and decreasing it after a loss to balance the books over time. By following these simple strategies, a gambler can play baccarat with the confidence that they are making the best decisions possible.