Chemin de Fer is why information found about the rules of baccarat is so often wrong. If you search for
"baccarat rules" and land on an older or French source, it probably describes Chemin de Fer, where the
player decides on the third card themselves. In the game you actually play at an online casino, a table
decides that, and your only decision is which bet to place.
The difference is not academic. If you read a strategy that assumes a third-card decision and try to
apply it in Punto Banco, the strategy simply cannot be applied — the button does not exist.
Understanding this heads off a whole set of misunderstandings.
The practical conclusion: always check which variant a source is describing. At an online casino the
answer is almost always Punto Banco, and its strategy is one sentence long — bet on the banker.