The 3th betting option is tie, this should always be avoided. You can win the most money by betting on tie with a usual payout of 8x your bet.(if you bet $10 on tie and you win you will recceive $80 —$10+$70—) But a tie in baccarat comes along on average only once in 11 hands.
So now we know that :
Betting on player = 1:1 payout
Betting on banker = 1:1 – 5% payout
Betting on tie = 1×8 payout (but this bet should be avoided)
If you don’t place any bets on TIE and the dealer deals a tie you will simply get your bet back 100%.
Example : you bet $10 on player and it becomes tie -> you get $10 back – or 1 free $10 round
Example 2 : you bet $10 on banker and it becomes tie -> you get $10 back – or 1 free $10 round