Even though flip cup is a gambling game like baccarat it is not played in any of the best online casinos or land based casinos. Flip Cup is played on a long flat table. The flip cup table should be level to make things fair and plastic but it does not have to be.
Each flip cup team is made up of 5 or more players. Each player has a plastic keg cup in front of them. The plastic cup is then filled up about 1/3 of the way with beer or whatever alcoholic beverage you have agreed on before the start of the game. in the center of the table is the penalty pitcher. Generally the penalty pitcher is filled with beer but some people like to use something harder a pitcher of whiskey sour or something else made with hard alcohol.
When all the cups are filled, each player takes their position. Flip cup is a relay race so before the game one end of the table is designated as the start and the other is the finish.
An impartial observer is needed to call the start of the race. When he calls go the first drinker for each team will drink the contents of their cup as fast as they can then they will place the cup right side up with part of the bottom of the cup hanging past the edge of the table. Then using a finger they will try to flip the cup one half rotation so that the open end is down on the table. Only when the cup has been properly flipped so that the cup is now standing on its own can the next player begin to drink their drink and try to flip their cup.
The real betting on flip cup is not done by the players. The real fun of the game is done by the people watching. Observers can bet on the game in the same manner as you would bet in baccarat. You can bet on a team to win, loose or tie. It is very rare for 2 teams to tie in flip cup.
But unlike in Baccarat there are some other bets you can make you can also bet on which of the first 2 players will flip their cup first.
After the round is over there is usually a 5 min break for the losing team to drink the penalty pitcher. Then all the cups are filled again a new penalty pitcher is put on the table and the teams line up again.
So betting can be done on who will get real drunk the fastest or who will vomit first. The things you can bet on are only limited by your imagination.