In normal table games the bettors play against the bank. The actions of the other players are of no consequence to their winning or losing. To many this is less of a challenge. Hence they prefer baccarat tournaments in which they are directly pitted against other players.Most baccarat tournaments are of the buy-in type. Players play an entry fee to vie for the collected pool money less the casino-s costs. The buy-in entitles the players to a number of chips. All players start with the same number of chips. The players then compete over a given number of deals, which constitutes a round. The player with the highest number of chips at the end of the round is the winner. It is not necessary that the winner have more chips than he started with. He has to have more chips than the other players. Hence in baccarat tournaments the player can lose chips and yet win. Many tournaments are of the progressive type. The first round is played over many tables. The winner at each table moves on to the next round. This procedure continues till the final round, the winner of which is the winner of the baccarat tournament.
Baccarat tournament strategy is more complex. Each player has to play his best against the bank. But at the same time he has to keep track of the chip position of other players. There are different strategies that are prevalent in the baccarat tournament circuit. One strategy starts with minimal wagering. Towards the end of the round the player assesses the difference between himself and the leader. He then uses his conserved bankroll to place large wagers and overtake the leader. The rationale is that once the target is known it is easier to chart the course. Another strategy is based on the assumption that it is next to impossible to catch up. Therefore it advocates aggressive wagering early on so that a lead it immediately established. Thereafter a period of minimal betting follows till a competitor catches up. The player may again have to resort to aggressive betting to keep the competitor at bay. Many players believe that luck comes in streaks. This gives rise to the third strategy, which is to place large wagers during a winning streak and small wagers during losing streaks.
Some baccarat tournaments are more popular than others. The most popular tournaments are described below. The Macao Baccarat tournament takes place in March in Macao. It is frequented by the rich and aristocratic from the Pacific Rim countries. The prize money for this tournament is $650,000. The European gamblers prefer the Tornoi de Chemin de fer, which is held in February in Monte Carlo. High rollers, known as much for their glamour as for their playing skills, vie for a million Euros. An extremely popular tournament in the United States is Bally’s Casino New Orleans Mini Baccarat Tournament. This is a monthly tournament, which is indicative of the popularity the game enjoys in America. A prize of a hundred thousand dollars is on offer.