Baccarat is one of the oldest and most popular games in casinos all over the world. It is especially popular among high-rollers and Asian gamblers. In Macau, baccarat is extremely dominant. Although the game seems serious and elegant, it is really as simple as betting on the flip of a coin.

Michael Shackleford doubles as both the Wizard of Odds and the Wizard of Macau, illustrates the significant impact Baccarat has had on the Asian landscape.

"There can be no debate that baccarat is the overwhelming game of choice in Macau. According to the 'Smith Barney Macau Gaming Cheatsheet', baccarat accounted for 88% of the casino gaming revenue in 2003. Based on a survey I did of Macau in August, 2007, I estimate that 50% of the public casino table games are baccarat, and 100% of the many private VIP rooms."

Part of what makes Baccarat a great game is that it's so simple. The Player's decision is limited to deciding what kind of bet to make. From there on it's in the dealer's hands and you collect or pay when it's over.  It's also a relatively easy game to win, which could help explain why it's become so phenomenally popular throughout Asia.

"Baccarat is undoubtedly the most popular casino game for Chinese people all over the world, always well appointed and exclusive to high rollers - baccarat is a fixture in all casinos all over the world," explains an affiliate manager for BaccaratRoom.CO.UK.  "Baccarat tournaments are very popular in Asian casino gambling markets. Asian gamblers fly(comp'd) to Las Vegas to join baccarat tournaments."

With the Chinese New Year, Las Vegas also looked to cash in on the craze.

Last year, more than $1 billion was wagered on baccarat during February, the vast bulk of which analysts attributed to Asian customers gambling in Las Vegas during the Chinese New Year celebration. The casinos' win from those baccarat customers was $116.4 million.

How significant were the baccarat players to the Strip's bottom line? The Gaming Control Board estimated the Strip win would have been off 2.9 percent from the previous year without the baccarat business.

"It's an important part of the first quarter," Deutsche Bank gaming analyst Bill Lerner said. "Chinese New Year is still a pretty big deal on the Strip."

Macau and Vegas have capitalized on the Backgammon phenomenon, how about online?

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Jagajeet Chiba, Gambling911.com

Originally published March 11, 2008 7:06 pm EST