Baccarat Odds & Payouts Explained
Last reviewed: June 2026
The setup: baccarat has three bets — Banker, Player, and Tie. Payouts look simple (1:1 for Banker and Player), but Banker winnings get hit with a 5% commission. That commission isn’t a hidden edge; it’s the casino’s honest way of offsetting Banker’s slightly higher win rate. Here’s the complete breakdown and what the math actually means.
For the strategy angle, see Baccarat Strategy; for expected loss, see Expected Value Explained. You can also watch these edges emerge in our free baccarat simulator.
The payout table
| Bet | Covers | Payout | Win rate (8-deck) | House edge |
|---|---|---|---|---|
| Banker | Banker hand higher | 1:1 −5% commission | 50.68% | 1.06% |
| Player | Player hand higher | 1:1 (no commission) | 49.32% | 1.24% |
| Tie | Both equal | 8:1 (some 9:1) | 9.52% | 14.36% (8:1) / 4.84% (9:1) |
Win rates for Banker and Player are shown excluding ties (the hands that produce a winner). Counting ties, Banker wins 45.86% of all hands, Player 44.62%, and 9.52% tie.
The same numbers, straight from our verified engine — every bet’s house edge and what it costs per $100, with the three Banker variants and both pair payouts:
| Bet | Pays | Win chance | House edge | Loss / $100 |
|---|---|---|---|---|
| Bankereven money, minus 5% commission | 1:1 * | 45.86% | $1.06 | |
| Playereven money | 1:1 | 44.62% | $1.24 | |
| Player Pairfirst two Player cards match rank | 11:1 | 7.47% | $10.36 | |
| Banker Pairfirst two Banker cards match rank | 11:1 | 7.47% | $10.36 | |
| TiePlayer and Banker tie | 8:1 | 9.52% | $14.36 |
* The Banker bet wins slightly more often than Player, so the casino takes a 5% commission on Banker wins — that's what lands its edge at 1.06%, still the lowest on the table.
Banker across the three variants
- Standard — 5% commission1.06%
- No commission — Banker 6 pays ½1.46%
- No commission — Banker 6 pushes4.15%
A "commission-free" table isn't a free lunch — it makes up the commission by shorting the Banker-6 win (and the push rule is actually worse than paying the 5%).
Pair side bets by payout
- Pair pays 11:1 (common)10.36%
- Pair pays 12:1 (rare)2.89%
At the usual 11:1 a Pair bet is one of the worst on the table; only the rare 12:1 table makes it close to reasonable.
How Banker payout works (with commission)
Bet $10 on Banker. Banker wins.
- Winnings: $10 (even money).
- Commission (5%): $10 × 0.05 = $0.50.
- Net profit: $10 − $0.50 = $9.50 (you keep your $10 stake plus $9.50).
The commission is only deducted on Banker wins, not on Player or Tie wins. Because legal table stakes are whole dollars, 5% always works out to an exact number of cents.
Why Banker wins more (and why commission is fair)
On an 8-deck shoe, the Banker hand wins a little more often than the Player hand. The reason isn’t luck and it isn’t a decision: the Banker draws its third card last, by a fixed rule that can depend on the Player’s third card. Because that rule is conditioned on more information, it’s tuned to win slightly more — about a 1.36% edge over the Player, baked into the drawing rules. (There are no choices in baccarat; see the exact rule table in our how-to-play guide.)
If the casino paid Banker at 1:1 with no commission, the Banker bet would actually favor the player by about 1.24% — Player would be the sucker bet. The 5% commission rebalances it: Banker becomes a 1.06% house edge, Player is 1.24%, and both are reasonable wagers.
Without commission: Banker ≈ −1.24% (a player advantage). With 5% commission: Banker 1.06% house edge.
The Tie bet: why it’s a trap
Tie pays 8:1 at most casinos (a few pay 9:1). A $1 Tie bet returns, on average, 0.0952 × $8 − 0.9048 × $1 = −$0.143 — a 14.36% house edge on every dollar, the worst common bet on the table.
- At 8:1: 14.36% edge.
- At 9:1: about 4.84% edge — much better, but still worse than Banker or Player.
Why play Tie? Casinos promote it because the payout looks exciting. But ties happen only about once every 10–11 hands, and the 8:1 payout is far short of the true ~9.5:1 odds. It’s a trap.
Deck count impact
Baccarat edges vary slightly by deck count (figures via Wizard of Odds):
| Deck count | Banker edge | Player edge | Tie (8:1) |
|---|---|---|---|
| 6-deck | 1.06% | 1.24% | 14.44% |
| 8-deck | 1.06% | 1.24% | 14.36% |
| Single-deck | 1.01% | 1.29% | 15.75% |
Most casinos use 6- or 8-deck shoes, so the differences are negligible. The strategic choice — Banker over Player — holds regardless.
No-commission variants (usually worse)
Some casinos offer “no-commission baccarat” where Banker pays a full 1:1. That sounds better, but the house makes the commission back by shorting one specific Banker win — most commonly a Banker win with a total of 6 pays only half. That lifts the Banker edge to about 1.46% (our engine’s exact figure), worse than the standard 5%-commission game’s 1.06%. Stick to standard rules unless you’ve checked the math; compare all three variants on the Odds tab.
What the edges mean
- Banker 1.06%: over $1,000 wagered, you expect to lose ~$10.60.
- Player 1.24%: over $1,000 wagered, you expect to lose ~$12.40.
- Tie 14.36%: over $100 wagered, you expect to lose ~$14.36.
Over many hands, these edges grind down your bankroll. Banker is slightly better than Player; both are vastly better than Tie.
Frequently asked
Is the commission really fair? Yes. Without it, the Banker bet would favor the player. The commission rebalances the game and is taken transparently, only on Banker wins.
Why does Banker win more if both hands follow the same kind of rules? Because the Banker draws last, by a rule conditioned on the Player’s third card. That informational asymmetry is worth about 1.36% before commission.
Should I always bet Banker? Mathematically, Banker (1.06%) beats Player (1.24%). “Trends” and streak-tracking don’t change expected value — each hand is independent. Flat-betting Banker is optimal.
What about the 9:1 Tie payout? Rarer, but better — about 4.84% instead of 14.36%. Still worse than Banker/Player.
Sources & further reading
- Wizard of Odds — House Edge — baccarat odds and edges (accessed 2026-06-23)
- Our own figures are computed by the verified baccarat engine (independently reviewed).
Educational explanation only. No real-money gambling happens on LearnTheOdds.
Responsible gambling: Play for entertainment, not income — the math favors the house over time. Set limits, never chase losses, and if it stops being fun, take a break. 21+. Need help? Call 1-800-MY-RESET (1800myreset.org).