A card game with a long history that originated in Europe and has spread throughout Asia and now the US, Baccarat has been available in American casinos since 1958. It’s the game of choice for high rollers, tucked away in snooty roped-off areas, and its players are often well dressed. Despite its Bond-dipped mystique, it’s one of the easiest games to play in a casino, with only a few decisions to make and the house edge among the lowest for any bet in any casino game.

Players choose whether to bet on a “Player” hand, a “Banker” hand or on a tie. Two cards are dealt to each hand, and the winner is whoever gets closest to nine. If the hand total is over nine, the first digit is dropped – for instance, a seven and six would become three if the rules were applied to them (picture cards and 10s count as zero, aces count as one). The value of the second digit determines the final value of the hand.

The simplest form of the game is called Punto Banco, and this is what is played in most casinos. The game also has several other versions, and its rules vary slightly from country to country. The French version, Chemin de Fer, is the one that has the largest following in casinos.

Once you’ve decided to try your luck, it’s important to know the game’s rules and how to manage your bankroll. The best way to do this is to practice in a live casino and use a baccarat strategy that will help you win more than you lose. Ideally, you should bet small amounts at first and increase your bet size after each round of wins. This strategy is known as the Labouchere system, which creates a betting sequence and adjusts the bet after each loss to keep winning streaks in balance with losses.

Whether you’re playing at the high-limit tables or a regular table, you should always have a budget for how much money you want to spend on the game. Baccarat is a fast game, and if you’re a novice, it’s easy to get carried away and end up spending more than you intended.

To avoid this, decide in advance how much you want to spend and treat it as if it were cash that you’d spend on a night out instead of a casino jackpot. And if you do win big, don’t be afraid to walk away with some of your winnings. You’ll be glad you did. —By Lou Dobozil, Forbes Passport