There are a few variations of online baccarat, but there are two main types: punto banco and chemin de fer.
Punto Banco Baccarat
If you are playing online baccarat, it is most likely Punto Banco. As we described above, one hand is designated for the player, while the other is assigned to the banker. Participants choose to wager on a win by player, win by banker, or a tie.
Player bets usually pay even money, while a five percent commission is taken out for banker bets. In the rare case of a successful tie bet (a “push”), payouts are typically 8:1, and the wagers for player and banker roll over to the next round.
Chemin de Fer Baccarat
Chemin de fer involves six decks of cards that are shuffled together. One player becomes the banker, and the rest become “punters.” Just like the blinds in poker, the role of banker/dealer rotates. The banker then places an initial bet, which can be met or exceeded by the punters. At this point, the player with the highest bet is elected (“chief punter”) to represent the rest of the punters.
Both the banker and the chief punter receive two cards face down. If neither has an 8 or a 9, the elected punter can choose to take a third card or stay. The general strategy for chemin de fer baccarat is:
If you hold between 0 and 4, you take a third card, and if you have a 6 or 7, you don’t.
If the banker wins, then they collect all the wagers and keep their position for another round. In the event of a player win, each bettor gets back their wager plus an equal amount from the banker.