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Overbetting, also known as “going all-in,” is when a player bets more money than he or she can afford to lose. This is a common mistake when chasing winning streaks or trying to win back lost money.

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How to play: Players receive 7 cards and must divide them into two hands: one hand of 5 cards and one hand of 2 cards. The goal is to have both hands beat the dealer's hand.

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Tie is the least popular bet and is considered the riskiest bet in baccarat. Although the Tie payout can be as high as 8:1 or 9:1, the odds of winning are very low, only about 9% in regular bets. Therefore, many players avoid betting on Tie, even though it can bring a big reward if it wins.