With three variations of the game, each with their own unique history, it goes without saying that the origins of Baccarat are complex and difficult to pinpoint. To begin to understand the history of Baccarat as a whole, an ongoing myth must first be debunked.
The Baccarat myth most in need of refuting is that Baccarat began in France. While Baccarat is a French word, it is in fact derived from the Italian word Baccara, which translates to zero; thus the explanation as to why the Baccarat hand is the losing hand in all three Baccarat variations (Chemin de Fer, Punto Banco and Baccarat Banque).
The origins of Baccarat are most often traced back to 15th Century Italy and the famed Italian gambler, Felix Falguerein. It is thought that the first Baccarat games were played with tarot cards instead of today's traditional 52-card deck (which itself is derived from the four suits of the tarot).
Baccarat History continued here