Let p the probability of winning any given bet = 49.3212%. Let a i denote the probability if the player has $i he will reach $1,200 before losing everything. The probability that the player will win, given that there isn't a tie is 49.3212%.
I'll assume that you are flat betting $1 at a time on the Player bet in baccarat. Two key pieces of information you left out is how much you are betting and in which game.
