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Foundations of Probability
October 12, 2020

Stewart Ethier
University of Utah

Title: Baccarat and Game Theory

There are three principal versions of the card game baccarat.

1. Baccarat punto banco is a nonstrategic game that is (or was, before COVID) a 40 billion dollar industry in Macau.

2. Baccarat chemin de fer is a two-person zero-sum game that played a role in the development of game theory, and evolved, over a period of about 100 years, into baccarat punto banco.

3. Baccarat banque is a three-person zero-sum game depending on a continuous parameter for which the most natural solution concept is not the Nash equilibrium. It was a predecessor of baccarat chemin de fer.

In this talk we discuss all three games, their history, and their game-theoretic aspects.

Source: YouTube