Blackjack Insurance: Is it a Sucker Bet?

Insurance in Blackjack, also known as a Side Bet Insurance is one of the many options offered to a blackjack player, but it is an option which is most often exercised incorrectly in live play. Insurance is a side bet which is considered independently of the main wager made by the player. All casinos offer insurance as a standard option.

If you have a blackjack, collect bets from anyone that didn’t buy insurance. Players that did buy insurance receive their original bets back. Players with blackjack will receive their original bet, even if they didn’t purchase insurance. The players’ turns. If your face-up card isn’t an ace, continue play as normal. If you feel the dealer has been a little too lucky, place your side bet in the area of the table marked insurance. The price of insurance is half the amount of the blind wager and pays 2-1 if the dealer proceeds to reveal a natural 21. If the dealer does not have blackjack, insurance bets are cleared before play continues. Insurance When the dealer shows an ace, the player can choose to place a side bet of up to half the value of the original bet. If the dealer has blackjack, the bet pays 2:1. If the dealer does not have blackjack, the player loses the wager. N natural Receiving a sum of 21 in the first two cards. Blackjack insurance is a side bet offered to the player if the dealer’s up-card is an ace, as insurance against the dealer’s hand being ‘blackjack’. Blackjack insurance odds pay out at 2/1 and the.

Question from a Player: My problem is that I have this feeling that I’m taking insurance far too often. I lose this bet a lot, even though I only take insurance when my true count is +3 or more. (I’m playing mostly in six-deck games in Mississippi and Louisiana.)
On my last trip, I put in 19 hours at the tables over a three day period. I kept track of all my insurance bets. I took insurance 14 times, won 5 times and lost 9 times. I realize this is a very short test from the statistical point of view (I’ve been reading your column for years!), but my experience on all of my trips is similar to this. I lose the insurance bet way more than I win it. This is just the one trip where I kept track of my results.
What’s worse, when I win the bet, I don’t really win anything, I just break even on my hand. Winning is actually more like pushing. When I lose the insurance bet, however, I not only lose the insurance, but I still have to play the hand against a dealer ace, which also often loses. I’m starting to think this insurance bet is just a sucker bet for card counters.

Blackjack Insurance: A Side Bet, Nothing More

Answer: Many players are confused about the way insurance works because, in casino jargon, you are “insuring your hand.” Insurance is a side bet, and has nothing to do with the results of your blackjack hand.You are simply betting that the dealer has a ten in the hole. If he does, you win 2-to-1. It is not a “push” for your hand.
For example, you have a $100 bet on the table. You have a 16 vs. a dealer ace. Let’s say the insurance bet does not exist. The dealer peeks at his hole card, flips over a ten, and you lose your $100.
Now, assume insurance is offered. You have a true count of +5, so you put out $50 for insurance. Now, when the dealer flips over his ten, he pays your $50 insurance bet at 2-to-1 ($100), but you still lose your hand, so you break even.
Since, without the insurance bet, you would have been minus $100, this $50 bet gained you $100.
The actual result on your blackjack hand will be exactly the same regardless of whether or not you take insurance. If, for example, the dealer has a blackjack, you lose; if not, then you have to play out your hand vs. whatever he does have.
Also, your analysis of your blackjack insurance results indicates that you did pretty close to what you would expect as a card counter. For the sake of simplicity, let’s say all of your insurance bets were $50 each. Since you lost 9 times, this is a $450 loss; since you won 5 times (at 2-to-1), this is a $500 win. So, you’re $50 ahead of where you would have been had you never taken insurance.

Technically, your fourteen $50 insurance bets would total $700 in action. A $50 win total on $700 action would mean that insurance has paid you at the rate of 6.67% — which is more likely a positive fluctuation in your favor than a negative one.
Remember, if you win your insurance bet just half as often as you lose it, you break even. So, it will always seem like you lose this bet more than you win it, even when you are making money on it. ♠

For more card counting and blackjack analysis, see the Professional Gambling Library.
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Gambling games come with various terminologies that every player needs to understand. As a player, having such knowledge will enable you to enjoy a full experience at the casino. Besides, knowing all your options and what you can do to increase your chances of winning, is crucial. This means you don’t bet blindly. You could be new or an experienced player, but no one can master all the terms at once. This makes it necessary to keep learning and practising as you continue playing. To help you on your journey, we have put together helpful information answering the question of what is insurance in blackjack? Read on to find out how and when to take advantage of this side bet to redeem your money.

Insurance in blackjack refers to a special bet offered to the player when the dealer’s top card is an ace. When you opt for the insurance blackjack, you get the chance to wager half of your first bet. You cannot bet more than half of the amount you wagered on the blackjack hand. If the second card of the dealer is a king, jack, ten or queen, he obtains a blackjack. This way, you win your insurance bet. It is possible to win the side bet and lose the main hand. In this case, you win even money. In case the insurance bet loses, the game continues as per normal rules. However, a lost insurance bet doesn’t affect the outcome of other bets.

• What is insurance in blackjack?
• How does insurance in blackjack work?
• When do you take insurance?

How Does Blackjack Insurance Work?

What you are doing when you take insurance is wagering that the dealer will obtain a blackjack. The dealer communicates the option of this side bet to players at the table. When playing online, you will see a pop-up button announcing the availability of blackjack insurance. Upon winning this insurance bet, you are paid twice for every amount bet. For instance, let’s say your original blackjack hand bet was £10. You are given 19 and realize the dealer has an ace as their top card. Then you can bet £5. If their other card is 10, this ties your both hands making you lose the original bet. However, you win the insurance bet and take home £10 – twice the amount of your insured bet.

When Can You Take Insurance?

It is important to tread carefully when considering insurance in blackjack. You cannot wager your money on the side bet blindly as many players have proven that insurance bets end up costing you more in the long run.

If you must take insurance, make sure you are counting. The odds that the dealer will make a blackjack are approximately 9-4. This means that you are likely to lose in insurance bet than win.

But if you are an expert card counter and can keep track of ten-point cards remaining on the deck, you can comfortably place your insurance bet. Your chances of winning are high if the remaining 10 cards are many.

This trick works only in a live casino since it’s hard to count online.

What are Your Chances of Winning?

What Does Insurance Mean In Blackjack Stand

It is difficult to determine the exact probability of winning an insurance bet. This is because the odds are not always the same. The probability is influenced by the 10 mark cards remaining and the number of decks you are playing on. For online players, it becomes hard to determine how many 10-mark cards have been dealt with players since the reshuffling of cards occurs at every single hand. Also, the higher the number of decks in use, the lower the probability. For instance, the house edge for the side bet when gaming on a single deck is 5.8%. This value increases by up to 7.5% when gaming on an 8-deck casino. So, what does insurance mean in blackjack for an inexperienced player? It means you might end up losing money.

• Blackjack insurance is a bet that the dealer will have a blackjack
• You may end up losing in the long run
• Use maths to determine your chances of winning

What Are The Insurance Blackjack Rules?

For you to do everything right and increase your odds at winning the insurance bet, you need to understand the implications of your choices. This is why you need to master the blackjack insurance rules before considering this side bet. Now, as mentioned earlier, the winning payout is 2:1 and you are required to wager half of the amount placed on the blackjack hand. In case the dealer and player have a similar outcome, i.e. 21, this is called a push. Some casinos will call this a tie for the dealer but others opt to refund the player the wagered money. Think of it as a scenario where the hand didn’t happen. If the dealer does not end up with a blackjack, the insurance is lost. For more information about blackjack rules etc, click here.

What About The Option of Surrender?

What Does Buying Insurance In Blackjack Mean

Surrendering is an option available in some blackjack games. The rules at casinos with this option can be varied. However, it basically means that players can give up their hand when the dealer is checking for blackjack. Surrendering will, therefore, cost them half of the original bet. It can be an early surrender or late surrender. In early surrender, players throw in their hand before the dealer checks to confirm the blackjack card. Players need to note that this is no longer a very common form of surrender or option. Late surrender is common and occurs after the dealer discovers that blackjack doesn’t exist especially in games where he or she is not allowed to peek. A surrender where there is blackjack insurance can lead to an interesting negotiation between the player and the casino.

Conclusion

What Does Insurance Mean In Blackjack For Dummies

The choice of whether to take the insurance bet or not is based on the playing conditions. However, if done right, insurance is prone to advantageous play. The most important thing is to study the decks properly and only make this move when you have higher chances of winning. Of course, this advice seems more suitable for advanced card-counters who can tell how many 10s are still going around the decks. However, if you are playing American blackjack games where there is usually a “hole card” that the dealer can “peek” to check their blackjack card, you can always decide based on their reaction. Just avoid taking the insurance bet as an extra hedge. You will still need to take risks even with the option of blackjack insurance.