Learn More about Blackjack Insurance (Insurance Bet)

Blackjack, sometimes also known as 21, is one of the most famous card games in both land-based casinos and online casinos and includes matching cards with the dealer. And, though other players may be at the table, the goal is not to beat their hand.

Nowadays, when you play blackjack online, you will sometimes find you are given an opportunity to make an extra “insurance” bet. Insurance is known as a blackjack side-bet which is intended to reduce the shock of the dealer getting a blackjack which will hit all player hands and join with a player 2-card 21. Different users have different views on whether to take this bet. This article examines the blackjack insurance in detail – to let you make an educated choice of whether, how and when this should be a member of your blackjack tactics.

What is the Blackjack Insurance?

Blackjack players use the blackjack insurance when the dealer has an Ace as a face-up card and can have a blackjack. The player can decide to either use or ignore the blackjack insurance. To accept blackjack insurance, the player places a separate second wager on the hand, equal to half of their initial bet.

The dealer will then check their face-down card, and if it is a ten, Queen, King, or Jack, the dealer has a blackjack, and the Insurance gives the player 2-1 odds. If the second card is not a ten, the dealer gives it face down and gets the player’s losing insurance bet. Typically, what you are gaining with the insurance is your original bet back and gambling half of that initial bet. Winning on insurance profits out the failures on most hands, though, in the long run, it is supposedly bad as the odds do not match the payout amount.

Blackjack Insurance – How It Works?

Players are encouraged to play in this bet by the dealer when the dealer’s up card is an Ace. In a live game, the dealer will request the players, in an online game the topic will pop-up on your screen, along with yes / no keys. If you decide to allow, then a bet equivalent to half of your bet is done, which will give out at 2:1 if the dealer changes over a 10 and forms a blackjack. You will have seen your cards at this time, and if you do not have 21, then you will miss your original bet when the dealer turns over blackjack – and win that bet back in the style of the payout for the insurance bet. If you do have blackjack, you can get this bet. In this state, you could win the insurance bet and also make your original bet back – making an advantage equal to your original bet.

The odds of the dealer offering blackjack when confirming an ace are precisely 9:4 against. There are 13 individually numbered cards, just 4 of them are 10’s (King, Queen, and Jack) and nine are not. This places the odds another way of viewing at this is that for every 1 time the dealer gains blackjack, he will drop 2.125 times. This implies that every time you get this bet, you are providing a 12.5% edge to the house.

That is a significant edge.

It is one of the most significant edges you can give to the house on a blackjack table. The only one who always beats this is a progressive jackpot side-bet made when the jackpot is agreeably small.

Serious players always reject this bet. Whether the dealer turns up with a ten on any one event does not matter – over time you are addressing away 12.5c for every dollar you place, every single time.

How to Take Blackjack Insurance?

You are permitted to take Insurance only if the dealer has requested you as to whether you would prefer to place an Insurance Bet. Each of the players on the table game will be personally questioned whether they want to take benefit of insurance or not. If you select to receive the advantage of that opportunity, you have to place the particular number of chips at the selected area on the table. For instance, if your initial bet is $20, your insurance bet must be $10. If you play Blackjack table game online and dealer’s face card is an ace, a pop-up will appear with the word Insurance on your screen, and you will be advised to take or decline the Insurance.

Does the Insurance Bet Work?

In a single deck game, there are sixteen ten-valued cards, and if you were not to notice any other cards aside from the dealer’s Ace, the 10-value cards make 16 of 51 cards. Statistically, in each group, there are only nine cards which do not form blackjack for a dealer and four cards which do make blackjack. Hence, the casino is paying out 8:4 (2:1) on a game which should be value 9:4 and as a result the player will miss money over time.

The Insurance bet would serve if the 10-value cards create one-third of the deck and as a consequence, the player would win their money back if they gained every one of three bets. After losing the first $10 insurance bets, the third winning bet would return a 2-1 payoff of $20, and the damages would be balanced out. Though the 10-value cards only make up 30.8%, just under one-third of the deck, so after every insurance bet, you will lose a small portion of the money, and we would not have the edge over the casino.

American and European Rules for Blackjack Insurance

In US blackjack games including Vegas Strip Blackjack games and Atlantic City Blackjack – the dealer will glance at their hole card to check for blackjack before the players run on their hands with an Ace or 10 showing. In European Rules Blackjack there is no hole card to glimpse at. In this game, the dealer has the second cards only next the players have worked.

This does make a variation to the correct approach since in US rules you will understand that the dealer does not hold 21 by the time you work on your hand. In European regulations, you do not understand this and need to work more conservatively as a consequence.

It can be attractive for players of European blackjack to think of insurance as an extra ‘hedge’ against them taking chances with their hand, then seeing their work destroyed by a dealer blackjack at the end. This is not a good reason – the insurance bet has the same house edge and is still a losing position in both sets of rules.

Pros and Cons of Taking Blackjack Insurance

No trouble whether you play land-based casino or online, you must have seen that the insurance is an open choice in most Blackjack games. The primary purpose for that is several players like to take insurance, but according to veteran players taking Insurance is a lousy bet in most situations.

As we discussed above, taking insurance can make a threat to the form of your bankroll, so if you are shy to examine the situations when insurance would be helpful, you’d better avoid yourself from accepting it.

But, it appears the insurance bet can be helpful to card counters because they are considered to have a better sense as to when taking the power of an Insurance bet would point to the wanted advantages.

If you are a card counter which maintains track of the cards that remain in the deck and you are offered insurance, you should be aware as to whether there are any 10s left in the deck. If there aren’t any, you will not take insurance, correct? The dealer cannot make a Blackjack. But, if there are only 10s left in the deck, dealer’s hand always beats yours.

If you are not a card counter, you need to give some time to learn and apply an effective strategy for taking insurance. If you are not prepared to implement the insurance bet effectively, the most sensible solution is to avoid using it.

At first glance, insurance seems a reasonable strategy aimed at protecting your funds. You place a bet as to whether the dealer will have a Blackjack or not.

According to various statistics, taking insurance is rarely beneficial to the player and overtime losses cannot be compensated.

Though all blackjack professionals are considered that taking insurance is not the best thing, there are several cases when you want to ensure your blackjack game would have a positive return. If both the dealer and you have Blackjack, this is known as a push. The hand ends a draw, and you are not paid for your Blackjack.

How Do Odds Factor in?

It’s not in the player’s best concern to accept the blackjack insurance, even if the player already has 21 in hand. Look at the possibility, which shows this to be the problem. Blackjack insurance would only serve a fair bet should the dealer be responsible for making a rate of 21 a third of the times a hand was performed. Since only 30.8% of cards make an amount of ten in this play, you will ultimately waste money over time should you continuously prefer blackjack insurance; the casino is only giving odds of 2-1 while the game itself has odds of 9-4. Let’s have a bright look at this:

Let’s suppose you place an initial bet of $20. Then, you notice that you have a blackjack and choose to use your blackjack insurance benefit. There will be two possible results:

  1. The dealer has 21, in which state you will get $20.
  2. The dealer doesn’t have 21, and you will get $20.

On the other side, if you have 21 and choose not to take the insurance, there will be again two possible results:

  1. The dealer has 21, so neither of you wins.
  2. The dealer doesn’t have 21, so you will get $30.

This indicates that, while the supposed outcome will always be $20 more if you get the insurance, you would be better not to take insurance option as if the odds are to be even, your pay-out balance the odds.

Insurance or No Insurance – The Main Question!

It is necessary to thoroughly consider these figures before deciding on whether to take insurance or not. It’s not just because it’s a risky bet; it’s because mathematically, it makes sense not to accept it. The name of insurance presents a fake sense of safety, driving you to consider it’s in your own best concern. The fact is that by taking insurance, you gamble losing more money in the long time than you recover.

One of the primary reasons that players take insurance when they have a blackjack is to make even money – a secured win – rather than gamble a push when working for the 3-2 payout. When players take even money, they will win one block every time. In other words, it’s the secure possibility, also thought it would make the player lose in the long term. Because the payout on the blackjack insurance bet not even the odds, players should never get insurance, also if the dealer recommends it. Though, it is critical to note that card counters often choose insurance. This is because they can tell when the dealer’s hole card has a value of ten.

Anyone who likes to take a secure option may accept blackjack insurance because the player will always win one block when they choose for even cash.

A significant reason why beginning players are fooled into thinking blackjack insurance is good to take because dealers question players before if they want insurance when the opportunity arises. Several expert players advise never to accept the blackjack insurance as you lose money and there are others who consider it does work right if you are card counting and can assume the result of the hand.