I think effective strategies for managing variance and volatility in Baccarat betting include setting a budget and sticking to it, using proper bankroll management, and employing betting systems like the Martingale or Paroli to mitigate losses and maximize wins and I feel understanding the game's odds and probability, avoiding chasing losses, and not getting emotional about wins or losses can help manage variance and volatility. It's also important to take breaks, don't bet when tired or emotional, and don't try to recoup losses by betting more.