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Author: MasterBets
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Working Out The Odds In BaccaratThe house advantage in baccarat is low relative to many other casino games, and while baccarat is not a game of skill (there are set rules that both Player and Bank must abide by, which determine the outcome of every hand) it is a fairer game than other casino games of chance (like roulette for example).
In baccarat the advantage is less than 1.5% in favor of the casino. The house takes a 5% commission on all winning Bank bets. People who don't understand odds, the kind of people casinos love to welcome, think that this is the house edge: 5%. Such people are fools. That 5% commission actually translates into only a 1.17% advantage to the House on Bank bets.
Here's how the odds in baccarat are calculated:
Bank wins 50.68 % of all hands.
Bank loses 49.32% of all wagers.
The casino takes a 5% commission on all winning Bank bets. Now let's assume that you play Bank 100 times at $1 a time. Whenever Bank wins you receive $.95, and since that happens 50.68% of the time that = $48.15 paid out to you. Bank loses the other 49.32% of the time, which means you lose $49.32.
$49.32 - $48.15 = $1.17 or 1.17%, and this is the true House advantage when you play the Bank.
Now if you choose to play behind Player you get your $1 profit each time (with no deduction for commission), but Player wins less frequently than Bank.
Player wins 49.32% of all hands.
Player loses 50.68% of all wagers.
The net loss on Player's bets is simply $50.68 - $49.32 = $1.36 or 1.36%, and this is the true House advantage when you bet on Player.
In the event of a Tie, your wager is refunded, so although Ties occur they do not impact upon our calculation of the house edge. The House edge for Ties is huge, and one should never wager on the Tie.
For a casino game these are really good odds, and while the difference is tiny there is a slight statistical advantage to play Bank.
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| 8/29/2008 9:04:50 AM |
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