Blackjack insurance is offered to players after all cards have been dealt in blackjack. Insurance is an additional wager that is usually half the amount of your initial bet. It pays out 2:1 if the dealer shows his second card which is either a ten, or a picture card. This makes blackjack.
Let’s suppose you wager $10 on the first hand. The dealer’s upcard shows an ace. You purchase blackjack insurance for $5. You take the for $5. If the dealer has blackjack you win $10 and your $5 residence insurance bet is returned. However, your initial $10 bet will be lost unless you have blackjack.
If the dealer doesn’t have blackjack, which is unlikely, your $5 insurance wager will be lost and the hand continues as usual.
Blackjack insurance is it worth the risk?
Blackjack insurance isn’t worth the risk, unlike auto, health, and property maritime insurance. While it may be profitable for a few hours, the long-term benefits of casino gambling are not easily understood. Blackjack insurance is expensive long-term.
Let’s simplify it. To win your insurance bet, you must have either a picture or a ten. A single deck can contain 16 of these cards, which means there is only a 30% chance it will hit.
What it is, how it works and when you should take it
What is insurance in blackjack? Blackjack insurance is a side wager that the dealer’s up card is an Ace. It is pet insurance against the dealer’s hand being “blackjack”.
Blackjack insurance odds pay at 2/1, and the maximum allowed bet is usually half of the main bet.
This could give the player an opportunity to make a profit in the event that the dealer has Blackjack.
Insurance is offered to the dealer before they check their hole card. It’s the one that players don’t see at first. If the hole card has a value of 10, it will be paid out.
When should you get it?
If the dealer’s up card is an Ace, insurance can be attractive for players. There is almost a one-in-3 chance that their other card will have a value of 10.
The odds are that insurance will be a loss-making bet over the long-term unless you’re a skilled card counter.
To win your insurance bet, the dealer must have a 10 value card as his hole card. Expert card counters can track the remaining cards and determine when enough is available to make insurance calls.
Why blackjack insurance should be avoided?
This example shows that even in the best case scenario, betting on blackjack insurance can be a losing strategy.
In a one-deck hand, you are the only player and have no opponent.
The remaining 49 cards now have a value 10 which gives your PS10 private health insurance bet the best chance of winning.
Your position is unlikely to change in the long-term, despite this.
The average PS10 insurance bet loses 33 times while it wins 16 times. Each win earns you PS20 profit for a total of PS320.
The 33 losses at PS10 a time leave PS10 overall down.
This hand is the best possible scenario as neither you nor other players have any 10-value cards in their first hands. This would mean that the odds of the dealer holding a 10-value card in their initial hand (and you winning your insurance wager) would be lower.
What is insurance for blackjack betting?
Insurance is often taken out to reduce the financial consequences of a bad event. We have homeowner’s, auto, and health insurance.
Blackjack can be used to get insurance. Although it sounds great on the surface, is worth it? Let’s look at the numbers and find out. You get a 2:2 return when it hits, so your 30% shot doesn’t sound so bad.
However, it is a big problem that 30% assumes that there are always 16 value-ten cards for the dealer. There will likely be several picture or ten cards on the table. It’s possible for seven players to have four tens and picture cards on the table. This reduces the chances of the dealer having Blackjack to 23%
Blackjack insurance is a great option for you
You can test it for yourself to find out if you like the idea. Register at BetAmerica Casino to receive the generous new player bonus and then head to the blackjack tables. You might also want to try the live dealer tables.