Baccarat dates back to the Middle Ages. It has been said the game was first played with a Tarot deck. Originating in Italy, it soon made its way to France where it found a home among the upper class aristocracy. Further evolution of the game shows it split to European baccarat, and a French game that goes by the name 'chemin de fer'.
Chemin de fer is very similar to baccarat as it's played in American casinos today. The difference is one of the players banks the game instead of the casino. The title of banker rotates around the table in a manner similar to the dice at a craps table. The interesting bit to observe of course is that the casino is taking no risk here; they simply charge a fee from each banker.
The Baccarat we know today originated in Great Britain and was then passed along to South America and finally to Nevada. The infamous Dunes casino introduced baccarat in the late 50's, and since then it has made its final migration onto the world wide web.
Baccarat has a history overseas too, which is evidenced by its popularity among the Asian population who visit Las Vegas each year. The highest of the high rollers often come from overseas to try their hand under the chandeliers of the stylish Vegas baccarat rooms. In casinos based in the Portuguese territory of Macao, near Hong Kong, the popularity of baccarat is unrivaled. Unlike the heavily ordered and systematic American casinos, these Portuguese tables often allow multiple players to bet on a single spot at the same time, while the expert dealers mentally keep track of each players commission on winning bank bets.